A number of factors are being predicted to come together to boost the demand for truck trailers over the next seven years.
That’s the finding of a new report into global semi-trailer use and demand until 2025.
The report ‘Semi-Trailer Market by Type and Region – Global Forecast to 2025’ was published by MarketsandMarkets and is predicting a 5% increase in demand for trailers over the next seven years.
That will see the market boom from the current $32 billion annually to more than $47 billion (AUD).
That’s good news for leading trailer manufacturers such as Wabash, Schmitz Cargobull, Utility Trailer, Krone, Kögel, and China’s CIMC.
Pushing the growth are a number of factors including an expected increase in disposable income of consumers and the general push to fresh, healthier products.
An increasing number of quick service restaurants will also drive demand for refrigerated transport and trailers.
But it will be standard dry van trailers that experience the most growth, according to the report.
The production of dry van semi-trailers is estimated to be the highest, followed by flatbed, refrigerated, low boy, others, and tankers.
China and India are being tipped as the big drivers of much of the growth, while North America, which has already seen a lift in truck sales in recent times, will also contribute to the boom.
The report saying the market growth in the region can be attributed to factors including improving road infrastructure, an expanding supply chain industry, and new government regulations on weight carrying capacity and dimensions of semi-trailers.
While across the globe it will be trailers with less than 3 axles that are estimated to be the largest segment by number of axles from 2017 to 2025.
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