Modular Trailer Market

Market Leader - Modular Trailer Market

The modular trailer market, by value, is projected to grow to USD 19.6 billion by 2027 from USD 14.0 billion in 2019, at a CAGR of 4.3%. The major end user industries of modular trailers such as construction, mining, and wind & energy have experienced positive growth in both developed and emerging regions which is expected to drive the demand for modular trailers.

New product development has been the key strategy adopted by major players in the modular trailer market from 2017 to 2019. Modular trailer manufacturers are focusing on the development of newer technologies and different designs of trailers. They are focusing on developing products that are able to carry the heaviest loads and run on web-based technologies that give a clear overview of the per axle loads and prevent exceeding maximum axle load limits. For instance, in December 2018, Nooteboom Trailers launched the NOVAB 3.0 Cloud. This product helps calculate the optimal load positions for all vehicle combinations to prevent exceeding the maximum axle loads. In March 2019, Faymonville Group launched a blade lifter named BladeMAX. It helps transport mega wind turbine blades safely and efficiently in wooded areas, narrow streets, or mountainous regions.

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The modular trailer market is dominated by a few global players and comprises several regional players. Goldhofer is expected to be the leading player in the modular trailer market. The company is a globally renowned supplier of modular trailers. The company follows the strategies of new product developments and partnerships to gain a competitive edge in the modular trailer market. In April 2018, Goldhofer partnered with Trail king to support and promote products of both companies in the US and the rest of the world. In January 2019, Goldhofer announced long term investments in a modern production facility, relocating it from Ostfildern to nearby Nürtingen for more space and advanced technologies.

Faymonville Group is another leading player in the modular trailer market. The company invests heavily in R&D activities. It also plans to expand its modular trailer portfolio to cater to various customers around the world while establishing itself as a strong player in the market. It has adopted partnerships/collaborations/joint ventures/acquisition strategies to increase its presence in the modular trailer market. In January 2019, Faymonville Group acquired commercial vehicle dealer Stürzer Heavy Trucks. The acquisition expanded Faymonville Group's activities in South Germany, Austria, and Switzerland.

Related Reports:

Modular Trailer Market by Type (Multi-Axle, Telescopic/Extendable, and Lowboy Trailer), Axles (2 Axles and >2 Axles), Application (Construction & Infrastructure, Mining, Wind & Energy and Heavy Engineering), and Region - Global Forecast to 2027

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Report Code
AT 7360
RI Published ON
9/23/2019
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