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Modular Trailer Market Trends

Report ID: GMI9913
Published Date: Jun 2024
Report Format: PDF

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Modular Trailer Market Trends

The modular trailer industry is evolving with trends such as technological innovations, a focus on sustainability, and expansion in construction sectors. Advancements in modular trailer design, such as improved maneuverability and load distribution technologies, are enhancing their appeal across various sectors, from construction to logistics. It is integrating advanced technologies such as automated steering, GPS tracking, and load management systems to enhance efficiency and safety. For instance, in May 2024, the German Federal Ministry of Transport reported the adoption of autonomous steering technology in modular trailers, which improves maneuverability and reduces the need for manual intervention during transportation.

There is a growing emphasis on developing eco-friendly modular trailers. It includes features like reduced emissions and improved fuel efficiency to meet stringent environmental regulations. For instance, in May 2024, Japan’s Ministry of the Environment announced incentives for companies adopting sustainable practices in the manufacturing and operation of modular trailers.

Modular trailers are increasingly used in the mining sector, especially in regions rich in minerals. It helps in transporting heavy equipment and materials. In April 2024, Natural Resources Canada reported increased demand for modular trailers to support new mining projects in remote areas, requiring the transportation of large machinery and materials.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of modular trailer reached USD 8.4 billion in 2023 and is set to witness over 4.6% CAGR from 2024 to 2032, owing to the increasing number of infrastructure projects, energy & mining activities.

The multi-axle type segment in the modular trailer industry accounted for over 37% share in 2023, driven by their adaptability to different sectors, such as construction, mining, energy, and logistics.

The >2 number of axles segment in the modular trailer market is projected to record USD 9 billion by 2032, due to the growing need to transport heavy and oversized loads across various industries.

Asia Pacific market accounted for 40% share in 2023, on account of the significant infrastructure investments, industrial growth, technological advancements, and regulatory developments in the region.