Automotive Trailer Market Manufacturers, Regions, Type and Application, Forecast to 2031

On the basis of axle type, the automotive trailer market is bifurcated into single axle, tandem axle and three or more than three axles.

PORTLAND, OR, UNITED STATES, March 10, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Global Automotive Trailer Market by Trailer Type, Axle Type, Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2017-2023,” the global automotive trailer market was valued at $21,895.0 million in 2016, and is projected to reach at $28,538.5 million by 2023, growing at a CAGR of 3.8% from 2017 to 2023.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 – https://www.alliedmarketresearch.com/request-sample/1710

Dennison Trailers Ltd., Schmitz Cargobull, Bockmann Fahrzeugwerke GmbH, and Humbaur GmbH are one of the leading companies operating in the global automotive trailer market. Bockmann Fahrzeugwerke GmbH adopted product launch, Dennison Trailers Ltd. adopted agreement, contract, partnership, business expansion and product launch, and Schmitz Cargobull adopted product launch and business expansion to gain a competitive edge in the market.

In November 2019, Hyundai Motor demonstrated autonomous driving tech capabilities on its two trailer-connected Xcient trucks. The demonstration successfully displayed the vehicle platooning capability, which has the benefit of reducing air resistance to improve fuel efficiency and lower emissions, making it an eco-friendly technology. Furthermore, in July 2022, Cox Automotive acquired Trudell, thus expanding its offering within the medium and heavy-duty fleet parts and service, as well as adding direct parts sales and semi-trailer sales to the Cox Automotive Mobility Fleet Services portfolio. Such developments are expected to fuel the growth of the global automotive trailer market during the forecast period.

On the basis of trailer type, the automotive trailer industry size is bifurcated into dry van & box trailers, flatbed, trippers, chemical & liquid refrigerated trailers, and others. The dry van and box segment garnered the highest revenue in 2021, owing to high demand for dry van and box type automotive trailers across several applications globally.

On the basis of axle type, the global automotive trailer market is bifurcated into single axle, tandem axle and three or more than three axles. The tandem axle segment garnered the highest revenue in 2021, owing to their suitability for transporting heavier loads at higher speed.

𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁? 𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 – https://www.alliedmarketresearch.com/purchase-enquiry/1710

COVID-19 Impact Analysis

The COVID-19 impact on the automotive trailer market is unpredictable, and is expected to remain in force for a few years.
The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import–export of raw material and parts for most of 2020 & few months in 2021. This led to sudden fall in the availability of important raw materials for manufacturing automotive trailers.
Moreover, nationwide lockdown forced automotive trailer systems manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic resulted in delays in activities and initiatives regarding large scale manufacturing of automotive trailer systems globally.

KEY FINDINGS OF THE STUDY

By vehicle type, the two-wheeler and bike segment is expected to register a significant growth during the forecast period.
On the basis of trailer type, the others segment is anticipated to exhibit significant growth in future.
On the basis of axle type, the three or more than three axle segment is anticipated to exhibit significant growth in future.
Region wise, LAMEA is anticipated to register the highest CAGR during the forecast period.

𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗼𝗻 @ https://www.alliedmarketresearch.com/automotive-trailer-market/purchase-options

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