Global Semi Trailer Market Size, Share and Growth to 2023

Global Semi Trailer Market – Analysis of Growth, Trends and Forecasts (2018 – 2023)

Semi Trailer Market Dynamics:

The North American semi-trailer market, the 2nd largest in the world, was badly affected by the global economic crisis. The fall in the manufacturing sector particularly affected the semi-trailer market of Detroit. The market in the United States has picked up considerably well. Mexico, on account of increased exports and expanded domestic market, has seen the fastest rate of growth. The majority of the transportation of the energy, construction, automotive and manufacturing sectors happens through road and the semi-trailers, due to their flexibility and versatility, are the choice of transport. Semi-trailers are more popular than full trailers.

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Mexico is expected to be the fastest growing market for semi-trailers followed by Canada and the United States. Mexico, on account of increase in manufacturing activity and a rise in demand for products from the United States, will register strong growth rates. Asia-Pacific is the largest market for semi-trailers and is expected to grow at the fastest pace going into 2023. Many of the heavy commercial vehicles in India are outdated and due for replacement. Strict emission norms will result in replacement demand, driving the growth in the semi-trailer market in India. Slow manufacturing growth in India will be a big restraint as it is the largest single market for semi-trailers outside the United States. Iran is forecasted to be one of the most promising markets for the semi-trailers as the lifting of sanctions allows international players to enter a market that has been starved of quality products.

Semi Trailer Market Segmentation:

The market has been segmented by vehicle type (Lowboy, flatbed, refrigerated, dry van), tonnage (Up to 50 tonnes, 50-100 tonnes, 100 + tonnes) and geography (North America, South America, Asia-Pacific, Europe, Middle East and Africa).

Key Industry Players in the Global Semi Trailer Market:

DAIMLER AG

HYUNDAI TRANSLEAD

PACCAR

VOLVO

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Current and future market outlook in the developed and emerging markets

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The segment that is expected to dominate the market

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About Dani

Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on the gamut of sectors across the globe. We’re associated with world-renowned publishers who when combined, serve hundreds of fortune listed companies and publish wide range of insightful reports which cover nook and corner of every industry vertical.

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