DUBLIN, Feb. 5, 2021 /PRNewswire/ — The “Automotive Trailer Market by Trailer Type, by Axle Type, by Vehicle Type – Global Opportunity Analysis and Industry Forecast, 2020-2030” report has been added to ResearchAndMarkets.com’s offering.
The Global Automotive Trailer Market was valued at USD 24.72 billion in 2019 and is estimated to garner USD 35.10 billion by 2030 at a CAGR of 3.2% during the forecast period, from 2020 to 2030.
Automotive trailers are unpowered vehicles towed by powered vehicles attached through a hitch. These trailers hold wide applications in the transportation of goods & commodities inside a country or internationally. They are also used for recreational purposes such as to carry luggages, fishing boats, or used as mobile homes with limited facilities.
Market Dynamics and Trends
The growth of the automotive trailer market is attributed to the rapid growth in the transportation and logistics industry, advancements in infrastructure, increase in re-creational activities, and traction in the global trade. Moreover, automotive trailers offer benefits such as low fuel consumptions and emissions of GHG gases, large cargo carrying capacity, and eco-friendly modulations further boosting the market growth.
However, low re-sale value of these trailers and high maintenance costs of suspensions are hampering the market growth. On the other hand, increase in per-capita income and advancements in product technologies are creating lucrative opportunities for the automotive trailer market.
Market Segmentations and Scope of the Study:
The global automotive trailer market is segmented on the basis of trailer type, axle type, vehicle type, and geography. On the basis of trailer type, the market is segmented into dry van & box, refrigerator, chemical & liquid, tipper, flatbed, and others. In terms of axle type, the market is segregated into single axle, tandem axle, and three or more than three axles. Based on vehicle type, the market is divided into two-wheeler & bike, passenger car, and commercial vehicle. On the basis of geography, the market is classified as North America, Europe, Asia-Pacific, and Rest of World (RoW).
North America is expected to account for a major share of the market and this trend is estimated to continue during the forecast period due to factors such as presence of key market players, increase in global trade, technological advancements, and increase in R&D activities for improving product technology.
The market in Asia Pacific is expected to grow during the forecast period owing to the low cost of trailers, rapid industrialization, increase in recreational activities, and rise in disposable income.
Key players in the automotive trailer market are China International Marine Containers Co., Ltd, Dennison Trailers Ltd., Schmitz Cargobull Aktiengesellschaft, Humbaur GmbH, Wabash National Corporation, Bockmann Fahrzeugwerke GmbH, Great Dane, Ifor Williams Trailers Ltd., Utility Trailer Manufacturing Company, and Hyundai Motor Group among others.
In November 2019, Schmitz Cargobull introduced its high-volume rigid trucks with drawbar trailers and popular power curtain tarpaulin. The MEGA versions of the M.CS rigid truck curtainsider and Z.CS central axle curtainsider drawbar trailer offer up to 500 kilograms extra payload; and optional lath-free POWER CURTAIN tarpaulin. The high-volume rigid truck and drawbar trailer combination offers space for up to 38 Euro pallets.
In December 2019, Dennison Trailers signed a deal to supply Dyce Carriers with 20 new oil spec platform skeletal trailers for its fleet. The deal aims at providing high-quality haulage for the clients and a commitment to first-rate services.
Key Topics Covered:
1.1. Report Description
1.2. Research Methodology
2. Market Snapshot, 2019-2030 Million Usd
2.1. Market Snapshot
3. Porter’s Five Force Model Analysis
4. Market Dynamics
4.1. Growth Drivers
5. Global Automotive Trailer Market, by Trailer Type
5.2. Dry Van & Box
5.4. Chemical & Liquid
6. Global Automotive Trailer Market, by Axle Type
6.2. Single Axle
6.3. Tandem Axle
6.4. Three or More Than Three Axle
7. Global Automotive Trailer Market, by Vehicle Type
7.2. Two-Wheeler & Bike
7.3. Passenger Car
7.4. Commercial Vehicle
8. Global Automotive Trailer Market, by Region
9. Company Profiles
- China International Marine Containers Co., Ltd
- Dennison Trailers Ltd.
- Schmitz Cargobull Aktiengesellschaft
- Humbaur GmbH
- Wabash National Corporation
- Bockmann Fahrzeugwerke GmbH
- Great Dane
- Ifor Williams Trailers Ltd.
- Utility Trailer Manufacturing Company
- Hyundai Motor Group
For more information about this report visit https://www.researchandmarkets.com/r/vro34g
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SOURCE Research and Markets