Semi-trailers are truck trailers without an front axle that primarily carry freight. They are essential for long-haul transportation and logistics. Their advantages include higher payload capacity, improved fuel efficiency, and reduced road wear compared to trucks. The need for cost-effective freight transportation is ever increasing with growing international trade.

The global Semi-Trailer Market is estimated to be valued at US$ 32.3 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends: Increased cross-border trade between countries has been a major driver of semi-trailer market growth. International freight transportation facilitates import and export of raw materials and finished goods globally. The expansion of E-commerce has also boosted demand for freight transportation via semi-trailers. To serve the growing needs of cross-border logistic companies, trailer manufacturers have increased production capabilities. Adoption of advanced technologies like telematics and sensors for asset tracking has further optimized transportation networks and fleet management.
Segment Analysis
The global semi-trailer market is dominated by the dry freight segment. Dry freight semi-trailers are designed for transporting general cargos such as consumer goods, industrial goods, and electronics. This segment accounts for over 60% of the global semi-trailer market owing to the widespread demand for transporting dry bulk containers and general shipments. The refrigerated semi-trailer segment holds the second position in the global market. It is majorly used to transport perishable goods such as fruits, vegetables, dairy products, meat, and fish that require temperature-controlled transportation.

Key Takeaways
The global Semi-Trailer Market Growth is expected to witness high growth during the forecast period of 2023 to 2030. The market size is projected to reach US$ 32.3 Bn by 2023.

Regional analysis:
North America is currently the largest and dominating regional market for semi-trailers, driven by robust trade volumes in the US and Canada.Stringent regulations regarding vehicle safety and emissions are propelling trailer manufacturers in the region to invest heavily in the development of advanced semi-trailer designs. Europe holds the second position in the global semi-trailer market supported by stringent government regulations for road safety and transport standards.

Key players:
Key players operating in the semi-trailer market are Schmitz Cargobull, China International Marine Containers (Group) Ltd., Polar Tank Trailer, Llc (Entrans International, Llc Company), Fontaine Commercial Trailer, Inc., Lamberet Sas (Xinfei France Sa), Great Dane, Krone Commercial Vehicle Group (Bernard Krone Holding), and Kogel Trailer Gmbh & Co.Kg. Schmitz Cargobull accounts for over 20% of market share and leads the dry freight segment globally.

For more insights, read- https://www.ukwebwire.com/semi-trailer-market-trends-size-and-share-analysis/