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Global Automotive Trailer Market – by Trailer Type, Vehicle, Axle Type, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2025)
Automotive Trailer Market – Segmented by Trailer Type, Vehicle, Axle Type, Region | Market Size, Growth, Drivers, Trends, Industry Structure and Forecasts, Competitive Intelligence, Company Profiles | MarkGenes
An Automotive trailer is an unpowered vehicle towed by a powered vehicle. It is generally used for the transport of goods and materials. These vehicles can be dragged by SUVs, trucks, cars, and traction engines with the help of a hitch. Automotive trailers are widely used in logistics, construction and automotive industries. These trailers are actively used for the transportation of heavy cargo, fishing boats, livestock, bicycles, and mobile homes. The global automotive trailer market was USD 16.74 billion in 2018 and is estimated to reach USD 22.43 billion by 2025 at a CAGR of 4.27% during the forecast period
Growth by Region
Asia Pacific dominates the global market followed by North America. China and US hold the greater part of the market share in their respective regions, while Germany is dominating in the European markets.
North America will take the lead during the forecast period. The significant growth in the region of Asia Pacific can be attributed to factors such as development in the road infrastructure and increasing use heavy commercial vehicles.
Drivers vs Constraints
There are a number of factors that leads to demand for good trailers, some of them being, safety of the goods transported, avoidance of damage during transit, increasing regional transport of goods, improvements in road infrastructure, advancement in transport and logistic industry and the advent of Third-party logistics services. Extra carriage capacity of the automotive trailers, reduction in cost of fuel consumption and the environment- friendly nature of the automotive trailers also contribute to the growth of the market.
Rising construction and manufacturing activities and increase in government investments for the development of economies are some of the major factors which can contribute in growth for the coming years.
One of the major concerns is regarding the procurement of these trailers, where acquiring them on a long term basis leads to high maintenance cost and doesn’t fetch much on resale, this is one of the major drawbacks and can potentially hamper the growth
Industry Trends and Updates
As of 2017, China International Marine Containers (Group) has established 25 production and research and development bases prominently in China, North America, Europe and emerging markets. They have developed different product lines for special vehicles consisting of 10 series and more than 1,000 models, including container semi-trailers, flatbed/staked-side semi-trailers, low-flatbed semi-trailers, vehicle loaded semi-trailers, covering major domestic and international markets. CIMC Vehicle (Group) initiated the planning and construction of a digital system at its core plant as well as a comprehensive upgrade in refrigeration truck manufacturing technology.
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