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Semi-trailer Market Size Worth $24.8 Billion By 2025 | CAGR: 3.1%: Grand View Research, Inc.

SAN FRANCISCO, Nov. 20, 2019 /PRNewswire/ -- The global semi-trailer marketA size is anticipated to attain USD 24.8 billion by 2025, expanding at a CAGR of 3.1%, according to a study conducted by Grand View Research, Inc. Increasing demand across the construction, defense, automotive, and energy sectors is anticipated to be a key factor driving market growth. In addition, increasing dependence of e-commerce companies on third-party logistics (3PL) providers to ensure transportation of goods through hub and spoke distribution model is also expected to augment market growth in the coming years.Key suggestions from the report:

The dry vans segment is expected to witness a revenue-based CAGR of more than 4.0% due to growth in the retail and fast-moving consumable goods (FMCG) industry, especially in the developing economies



The Asia Pacific market is expected to witness substantial growth owing to improving road infrastructure and anticipated growth in the automobile industry. Automotive companies are manufacturing many cars and two-wheelers which are being transported through semi-trailers to end-consumers



The market is highly consolidated with the presence of established players such as Wabash National Corporation, Schmitz Cargobull, Great Dane, and Kogel Trailer GmbH



Players are focusing on R&D investments, acquisitions and mergers, and product innovation in order to strengthen their market presence. For instance, in 2017 Wabash National Corporation entered into a definitive agreement to acquire Supreme Industries, Inc. to enhance its market presence in dry vans.

Read 90 page research report with ToC on "Semi-trailer Market Size, Share & Trends Analysis Report By Type (Dry Vans, Refrigerated Trailers, Tanker), By Region (North America, Asia Pacific, Europe, Latin America, Middle East and Africa), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/semi-trailer-marketFurthermore, expanding cold chain and logistics industry is contributing significantly to the market growth. Less than truckload (LTL) and full truckload (FTL) freight shipping companies worldwide are increasingly adopting semi-trailers due to the versatility being offered in terms of load carrying capacity. As compared to rigid trucks, semi-trailers offer the lowest cost of transportation per ton per km, which is further enhancing its adoption.Over the last few years, the product demand has witnessed strong growth on account of positive growth observed in the oil & gas industry. In the coming years, the market is poised to register steady growth due to relaxation of regulations with respect to length and load carrying capacity of semi-trailers. Government regulations supporting the introduction of lightweight and eco-friendly transport vehicles are expected to shape the future market demand. However, lack of proper infrastructure required for transportation, especially in emerging economies is hampering the semi-trailer market growth.
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