According to a study published by Insure Insights, the automotive trailers market is estimated to grow at a CAGR of 4.1% during the forecast period. Automotive Trailers are unpowered vehicles towed by a powered vehicle with the help of a hitch. These trailers are employed to transport goods and commodities from one place to another. They are primarily used by cargo companies to transfer their goods either nationally or internationally. In addition to this, they are used for recreational purposes such as carrying their luggage, fishing boats, or mobile homes with limited facilities.

Top Driver: Rapidly Expanding Transportation & Logistics Industry and  Development in Infrastructures

The automotive trailer market is estimated to grow due to the rapidly expanding transportation and logistics industry. Besides, development in infrastructures, rise in recreational activities, as well as popularity in the global trade, are fueling the market growth. In addition to this, benefits provided by automotive trailers such as fuel efficiency, large cargo-carrying capacity, lower emissions of GHG gases, and their eco-friendly modulations are anticipated to drive the growth of the automotive trailer market during the forecast period.

On the other hand, high maintenance cost and lower re-sale values of these trailers are anticipated to hinder the growth automotive trailer market during the forecast period.

Commercial Vehicle Segment Accounts for the Largest Market Share

The global automotive trailer market is bifurcated into Two-wheeler & Bike, Passenger Car, and Commercial Vehicle based on vehicle type. Among these, the commercial vehicle segment is estimated to dominate the market. The global market is segmented into Dry Van & Box, Refrigerator, Chemical & Liquid, Tipper, Flatbed, and others based on trailer type. Based on axle type, the market is segmented into Single Axle, Tandem Axle, and Three or More Than Three Axle. 

Technological Advancements and Penetration of Significant Market Players to Benefit North America Market

North America is estimated to account for the largest market share, dominating the global automotive trailer market during the forecast period. The growth is attributed to factors such as technological advancements, penetration of significant market players, an increase in global trade, and an increase in R&D activities concerning product technologies. Following North America, Asia Pacific is anticipated to gain traction during the forecast period due to the lower cost of trailers and expanding industrialization. In addition to this, growth in recreational activities, increasing support by government authorities, and a rise in disposable income are likely to fuel the growth of the automotive trailer market.

Players to Focus on Product Innovation

The major market players operating in the market are Dennison Trailers Ltd, MAXXD Trailers, Wabash National Corporation, Miller Industries Inc., Big Tex Trailers, HYUNDAI Translead, Inc., Humbaur GmbH, and Ifor Williams Trailers Ltd

Schmitz Cargobull: In November 2019, Schmitz Cargobull launched its high-volume rigid trucks with drawbar trailers and the popular power curtain tarpaulin. The MEGA versions of the M.CS rigid truck curtainsider and Z.CS central axle curtainsider drawbar trailer offer up to 500 kilograms extra payload; accompanied with optional lath-free POWER CURTAIN tarpaulin. The high-volume rigid truck and drawbar trailer combination offers space for up to 38 Euro pallets. Moreover, all bodies are manufactured in-line with the Schmitz Cargobull’s strict industrial quality standards.

Dennison Trailers: In December 2019, Dennison Trailers, manufacturing a wide range of trailers from more than 50 years, announced a new deal with Dyce Carriers, a haulage and logistics specialist based in Dyce, Aberdeen; to add 20 new oil spec platform skeletal trailers to its fleet. The deal aims at providing high-quality haulage for the clients and a commitment to first-rate services.

Scope of the Report

By Vehicle Type

• Two-wheeler & Bike
• Passenger Car
• Commercial Vehicle
• By Trailer Type

• Dry Van & Box
• Refrigerator
• Chemical & Liquid
• Tipper
• Flatbed
• Others

By Axle type

• Single Axle
• Tandem Axle
• Three or More Than Three Axle

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.