The Growth in the Logistics & Supply Chain Industry is Expected to Drive the Semi-Trailer Market, 2017 vs 2025
A recent report is published on Semi – Trailer Market by MarketsandMarkets, this report suggests that the semi trailer market is expected to grow and logistics and supply chain industry are going to be the driving factor, as per the report, Semi-trailer market is forecasted to rise at a Compound annual growth rate of 4.98% from USD 25.32 billion in 2017 to touch USD 37.34 billion by 2025. The period which is taken into consideration is (2017–2025). And year 2016 as a base year.
As per the report, the crucial members in the Semi-Trailer Market include – China International Marine Containers or CIMC from China, Wabash, Utility Trailer & Great Dane from United States, Schmitz Cargobull, Kögel Trailer & Krone from Germany, Lamberet from France & Wilhelm from Austria.
In the year 2017, North America region is going to hold the largest share of global semi-trailer market. But, by the end of the forecasted period Asia Pacific is going to dominate the global market. The key factor due to which the semi-trailer market is going to rise in Asia Pacific region is a logistics and supply chain industry expansion in this region.
If we check out the things on a global level, the market for semi-trailers is supposed to increase significantly due to the positive commercial outlook and growing supply chain infrastructure. Among all the industries, the road transportation industry is one of the principal contributors to the overall GDP of the entire world and is rising tremendously over the recent years. Road transport carries more than 50% of inland freight volume. Semi-trailers represent a significant part in road freight transport. All the crucial industries which affect the global businesses such as automotive, energy, manufacturing, defence and construction depend on semi-trailers for their respective logistics operations. As well as growing industrial, mining, and construction exercises in developing regions are supposed to push the need for semi-trailers.
Growing adoption of advanced technologies and concern for safety among fleet owners are also contributing to the demand boost for semi-trailers.