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Semi-trailer Market Trends

Report ID: GMI7919
Published Date: Jan 2024
Report Format: PDF

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Semi-trailer Market Trends

The semi-trailer industry is experiencing a surge in the adoption of advanced algorithms and predictive analytics. This trend involves leveraging sophisticated data analysis tools to enhance operational efficiency, optimize route planning, and predict maintenance needs. By integrating these technologies, fleet operators can make informed decisions, reduce downtime, and improve the overall logistics management.

For instance, in October 2023, Thermo King launched TracKing Pro telematics, offering integrated advanced algorithms and predictive analytics, and allowing preemptive identification of potential failures. This proactive capability enables timely alerts, enhancing fleet management by anticipating issues and optimizing maintenance processes for increased operational efficiency and reduced downtime.

The rising demand for refrigerated trailers is an emerging trend in semi-trailer market. This trend is attributed to the imperative for efficient transportation of perishable goods, necessitating precise temperature control during transit. As the food and pharmaceutical industries grow globally, the reliance on refrigerated trailers increases to ensure the integrity of sensitive products. These trailers are critical in maintaining product quality and regulatory compliance and meeting the increasing requirements for temperature-sensitive logistics in the supply chain.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of semi-trailer reached USD 24 billion in 2023 and is set to expand at 6% CAGR from 2024 to 2032, favored by the expansion of e-commerce and logistics networks.

The <3 axles segment accounted for a market share of 40.4% in 2023, as this configuration offers versatility for both regional and long-haul transport, catering to diverse industry needs.

Asia Pacific market held a revenue share of around 40% in 2023, attributed to rapid industrialization, urbanization, and expanding logistics networks.

CIMC (China International Marine Containers), East Manufacturing Corporation, Fontaine Trailer Company, Great Dane Trailers, Hyundai Translead, Schmitz Cargobull AG, Stoughton Trailers, LLC, Strick Trailers, LLC, Utility Trailer Manufacturing Company (UTM), and Wabash National Corporation (WNC).