Automotive trailers are unpowered vehicles pulled by a powered vehicle. It is usually used for the transportation of materials and goods and is pulled by means of a hitch. Trailers are used for many purposes such as recreation, to carry fishing boats, and to carry luggage, mobile homes, and bicycles as a part of the load, in addition to transportation of goods and materials from one place to the other. These trailers are predominantly used by cargo companies for transference of goods nationally and internationally. Furthermore, these companies use trailers frequently to move construction material from the factory to the construction site and vice versa. North America is likely to observe considerable requirement for automotive trailers due to extensive usages in construction, manufacturing industry, and transport.
Rising demand for trailers, enhancement in standards of living of people, and reduction of railway network in Europe and North America are expected to be some of the major drivers for the growth of the automotive trailers market during the forecast period. The number of in-service railway boxcars fell by 41% in North America in the past decade as 101,600 cars were done away with and merely 13,800 substitutes were added in the consecutive year. Moreover, the disposable income of the population is increasing at a significant rate in Europe and North America. In the U.S., the average household disposable income per capita was around US$ 41,071 per year, greater than the Organization for Economic Co-operation and Development (OECD) average of around US$ 29,016 a year. Limited construction capacity for car trailers, especially specialized car trailers, and prolonged procurement process are some of the challenges faced by the global automotive trailers market. Nevertheless, improvement of design of trailers and growth in the untapped markets of developing economies including Indonesia, China, and India are likely to offer significant opportunities to the automotive trailers market.
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The global automotive trailers market is segregated by vehicle type, axle type, trailer type, and geography. By trailer type, the market is divided into box trailers, trippers, dry van, open car, flatbed, and others. The dry van segment is likely to dominate the market during the forecast period owing to their enhanced functionalities and ease of use. On the basis of axle type, the market is classified into tandem axle and single axle. By vehicle type, the automotive trailers market is categorized into passenger cars, two wheelers, and commercial vehicles. The commercial vehicles segment is likely to expand at a significant pace owing to the rise in demand for trailers in construction and other industries.
The global automotive trailers market is segmented into five regions. They are North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of revenue, North America held a significant share of the market. However, the Asia Pacific region is likely to gain significant traction during the forecast period. Some of the other factors responsible for the growth of the global automotive trailers market are rise in regional transportation of goods, low damage of goods carried, development in roadways, and regional treaties that encourage trade amongst regions. The rising demand for HCVs or heavy commercial vehicles in North America and Asia Pacific (chiefly in China, Japan, and India), is likely to fuel the market for more developed trailer systems in commercial vehicle segments in these regions, thereby augmenting the overall growth of the automotive trailers market.
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Some of the major companies functioning in the global automotive trailers market include Miller Industries Inc., Humbaur GmbH, Wabash National Corporation, Ifor Williams Trailers Ltd, Dennison Trailers Ltd, Great Dane, and HYUNDAI Translead. Some of the other companies operating in the market are Pace American, Big Tex Trailers, MAXXD Trailers, Aluma, and ANG Industries Limited.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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