The global semi-trailer market is growing at a sturdy pace in recent times. The need for transporting heavy equipment and devices has played an integral part in driving sales across this market. Furthermore, the importance of safe and sound transportation for a multitude of industries has also emerged as a key driver of demand. Investments towards manufacturing of semi-trailers have increased in recent times, and this is a key consideration for the market players. The stellar demand for high-quality semi-trailers shall fetch voluminous revenues for the market players. Improvements in engineering technologies are at the helm of growth within the global semi-trailer market.
Transparency Market Research (TMR), in its report, finds that the global semi-trailer market would expand at a sluggish CAGR of 3% over the period between 2018 and 2026. The steady growth rate can be attributed to regional regulations with regard to the use of heavy vehicles. Furthermore, several regional pockets lack proper roads to host semi-trailers. The total volume of revenues within the global semi-trailer market is projected to reach US$ 24 Bn by 2026.
Use of semi-trailer by the e-commerce sector has increased by an astonishing margin over the past decade. Transportation of goods and equipment through these trailers helps in safe and damage-free delivery of items. E-commerce vendors have begun hosting a range of electronic products that need to be transported with premium care. This trend shall usher an era of growth and revenue-inflow across the global semi-trailer market.
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Several other industries including textiles, oil and gas, and constructions have also emerged as key end-users. The use of semi-trailers in these lucrative sectors shall help the market in ascending on the graph of market maturity.
Need for Waste Management across Cities boosts Demand
Dump trailers also account for a large share of revenues in the global semi-trailer market. The inclination of state authorities to manage municipal and industrial waste has necessitated the presence of semi-trailers. Furthermore, the need to carry industrial and residential waste to sites of dumping and incineration also calls for semi-trailers. Henceforth, semi-trailers have become a part of the municipal infrastructure.
The constructions industry is embracing new technologies and aids to expedite its operations. The relevance of semi-trailers in this industry has also emerged as a vital driver of market demand. It is expected that the aforementioned industries and sectors would press market vendors to manufacture high-end trailers that can aid transport and logistics.
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Heavy industrial works have gained momentum across a multitude of sectors. This trend could help market vendors in catapulting their rate of revenue generation. Some of the prominent vendors in the global semi-trailer market are FAHRZEUGWERK BERNARD KRONE GMBH & CO. KG, HYUNDAI Translead, Great Dane, Kögel Trailer GmbH, and Chassis King, Inc.