The value of the semi-trailer market was USD 22.4 billion in 2023, which will propel at a rate of 8% by the end of this decade, to touch USD 38.2 billion by 2030.

At a global level, the requirement for these trucks is powered by the development of numerous industries, for example construction, logistics, retail, automotive, and food and beverages, and the increasing manufacturing activities, development, and widening of rural roads.

Furthermore, the growing international trade and investment in transportation powers the industry. The increase in e-commerce activities creates the need for improved transportation strategies, which surges the requirement for semi-trailers to allow for the shipment of goods and materials over long distances.

In the recent past, the transportation industry has switched from conventional vehicles to the hybrid and electric ones. As a result of the constant decarbonization efforts and research in the automotive industry, the expansion of e- semi-trailers is going from strength to strength all over the world.

The growing requirement for advanced trailer technologies amongst fleet owners is due to the rising fuel prices and strict environmental regulations. New-generation class is reducing the cost of operations, improving the safety of fleet, and mounting mobile resource productivity and asset connectivity.

The industry encompasses various kinds of vehicles, each meeting precise requirements in relation to supply chains. For instance, the need for flatbed trailers is growing the fastest due to the fact that can carry various loads, from heavy equipment for building supplies.

 Refrigerator trailers make up a substantial share of the industry, chiefly in the food and pharma sectors where keeping the temperature in control is important.

While, dry van trailers are still extensively used in a number of industries, like retail and manufacturing, mostly for transporting dry goods. The continued development of the semi-trailer market is supported by the increasing importance of effective logistics and transportation.

APAC is the leader of the industry, and it will also grow the fastest in the years to come. The increase in building activities, the surge in the expenditure on inland transportation and infra, and the steady growth in the requirement from the logistics industry are the main factors to power the industry.

In India, numerous commercial trucks are outdated and need to be replaced. The stringent pollution regulations will propel the requirement for replacements, which will support the expansion of the industry in India.

Because of the increasing use of these semi-trailer trucks in the various industries all over the world, the demand for the same is on the rise. This trend will only continue in the years to come as well.

Source: PS Intelligence