(MENAFN- America News Hour) A recent report titled published by research nester“semi-trailer market : Global Demand Analysis & Opportunity Outlook 2027” delivers a detailed overview of the global semi-trailer market in terms of market segmentation by component, by sales channel, by connectivity, by vehicle type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter's five force model.
The
semi-trailer
market
is segmented into type vehicle types such as passenger cars, light commercial vehicles, heavy commercial vehicles. Among these segments, the passenger cars segment is expected to occupy a leading position in the overall semi-trailermarket during the forecast period.
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Factors such as increasing sales of passenger cars and rising spending on vehicle up-gradation by consumers are driving the growth of the passenger cars segment. However, the commercial segment is anticipated to grow at the highest pace in the overall semi-trailer market. This can be attributed to the several government regulations and rising need to track rented or shipped commercial vehicles by their owners.
The global semi-trailer market is expected to flourish at a significant CAGR during the forecast period. Moreover, technological advancements in semi-trailers such as the development of connected semi-trailers and enhanced connectivity options are predicted to foster the growth of the global market during the forecast period.
North America dominated the overall semi-trailer market and is expected to continue its dominance over the forecast period. This can be attributed to spiked sales of luxury vehicles and strong automotive aftermarkets in this region. The high adoption rate of advanced technology amongst the American population is driving the growth of the North American semi-trailer market.
Robust Growth of Automotive Industry
The rising production of vehicles across the globe is fostering the growth of the semi-trailer market. According to the International Organization of Motor Vehicle Manufacturers, global motor vehicle production witnessed a growth of 4.5% in 2016 as compared to 2015. Further, a positive growth trend of automotive production is anticipated to bolster the growth of the semi-trailer market.
Technological Advancements
Advances in technologies such as the development of connected semi-trailer and automotive navigation AV solutions are anticipated to drive the growth of the semi-trailer market. Moreover, increasing concern regarding vehicle density on road coupled with the increasing adoption of advanced technology is accelerating the growth of the global semi-trailer market. Although, the sluggish adoption rate of semi-trailers among economy car owners is likely to dampen the growth of the semi-trailer market
during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global semi-trailer market which includes company profiling of
Great Dane, Hyundai Translead, Chassis King, Schmitz Cargobull, Krone Fleet, Wabash National Corporation, Utility Trailer, Manufacturing Company, Dorsey Trailer
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global semi-trailer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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