Semi-Trailer Market

Market Leaders - Semi-Trailer Market

The global semi-trailer market is estimated to be USD 29.5 billion in 2020 and is projected to reach USD 41.2 billion by 2025, growing at a CAGR of 5.6% from 2020 to 2025. Asia Pacific is estimated to show highest CAGR growth in the semi-trailer market. The industrial expansion in emerging economies, such as India and China, coupled with infrastructural development has led to the increased demand for freight transportation in this region.

Implementation of advanced technologies in the logistics industry such as RFIDs, fleet management systems, and delivery process automation has improved the overall efficiency of the sector. One of the growing market trends is the use of advanced technologies such as telematics and stability control.

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The semi-trailer market is dominated by global players such as China International Marine Containers (China), Wabash National (US), Schmitz Cargobull AG (Germany), Utility Trailer Manufacturing Company (US), and Fahrzeugwerk Bernard Krone (Germany). The other major players in the semi-trailer market are focusing on strengthening their regional presence to achieve continuous and sustainable development. This is evident from the several collaborations, supply contracts and joint venture projects undertaken by these companies in recent years.

China International Marine Containers (CIMC) was established in 1980 in Shenzhen, China. The company is a supplier of logistics and energy equipment to more than 100 countries globally. The company operates across various segments such as road transport vehicles, containers, energy, chemical and liquid food equipment, offshore engineering, and airport facilities equipment. It offers semi-trailers under its road transportation vehicles segment. In addition, the company also offers aftersales services and add-value services along with financing and logistics services to its clients. CIMC is a diversified multinational industrial group having 300 member enterprises and four listed companies in Asia, North America, Europe, and Australia. It has an extensive sales and customer network that resulted in net profits of USD 235 million in 2019.Keeping in mind the upgrading of the company’s business development, CIMC’s expected capital expenditure was around USD 838 million in 2020. This investment was focused mainly on the acquisition of fixed assets, intangible assets, and long-term assets. Due to the impact of COVID-19, CIMC worked toward providing high-quality cold chain products using its mobile refrigeration facilities. In February 2020, in Shandong, China, CIMC set the record for building a refrigeration storage facility in the shortest amount of time.

Wabash National is a diversified industrial manufacturer and North America’s leading producer of semi-trailers and liquid transportation systems. The company operates across three segments: commercial trailer products, diversified products, and final mile products. The company manufactures trailers under its commercial trailer products segment. It offers dry freight vans, refrigerated vans, liquid and dry bulk tank trailers, platform trailers, used trailers, etc. Wabash focuses on innovations and setting new standards, and hence, it has filed 300 patents on a global level. The company has higher emphasis on continued product improvements aimed toward developing semi-trailers with reduced weight and durability. Wabash has recently undergone collaborations and partnerships with companies like C&S Wholesale Grocers, eNow Energy, and Carrier Transicold to provide electrically powered and sustainable trailer solutions for better efficiency and less usage of fuel for operations. In 2019, the diversified product sales reduced by 2.4% as compared to 2018 sales due to factors such as increase in pricing efforts in response to increase in commodity and labor costs in 2018. Further, due to the reduced demand for new semi-trailers as a result of COVID-19, the company registered a revenue decline of 26% in the first quarter of 2020 and around 40% for second and third quarter of 2020.

Schmitz Cargobull AG is among the market leaders in manufacturing of semi-trailers, trailers, and truck bodies. The company was established in 1892 in Horstmar, Germany. The company has a global presence in Western, Northern, Central, and Eastern Europe as well as the Asia Pacific and the Middle East. Schmitz Cargobull has seven production facilities globally and 1,200 authorized workshops throughout Europe. Schmitz Cargobull is involved in manufacturing of reefers, platform trailers, tippers, and container chassis. It also offers transport solution, trailer financing services, and trailer telematic services. It offers leading technologies like the EcoDuo trailer—a one of a kind that facilitates higher total capacity, while relieving pressure on roads and bridges. With consistent growth in logistics and semi-trailers market worldwide, Schmitz Cargobull is focused on increasing its footprint outside Europe. The company already has presence in North America and Asia Pacific due to presence of strong trucking industries in these regions. Schmitz Cargobull recently strengthened its presence in Africa with the acquisition of 33% of the shares in GRW Holdings. GRW Holdings is among the leading manufacturers of tankers and trailers in South Africa. With this, Schmitz Cargobull has set itself in a strong position in the African semi-trailer market. In the financial year 2019-2020, Schmitz Cargobull produced 46,124 vehicles and achieved sales of USD 2.27 billion. There was a 27.4% decrease in the units produced in 2019–2020 due to COVID-19. Nevertheless, Schmitz Cargobull was able to maintain its position in the European market as the leading trailer manufacturer.

Related Reports:

Semi-Trailer Market by Type (Flatbed, Lowboy, Dry Van, Refrigerated, Tankers and Others), Number of Axles (<3 Axles, 3-4 Axles, and >4 Axles), Tonnage (Below 25T, 25T-50T, 51T-100T, and Above 100T), Length, End-Use and Region - Global Forecast to 2025

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Semi-Trailer Market Size,  Share & Growth Report
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