Trailer Global Market Report 2024

The trailer market size has grown strongly in recent years. It will grow from $57.63 billion in 2023 to $62.81 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The expansion observed in the historical period can be attributed to the increase in freight transportation, growth in manufacturing and industrial sectors, infrastructure development, expansion of global trade, and the integration of supply chains.

The trailer market size is expected to see strong growth in the next few years. It will grow to $87.82 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The anticipated growth in the forecast period can be attributed to the emergence of eco-friendly trailers, advancements in autonomous and connected trailer technologies, a focus on safety and collision avoidance, the adoption of alternative fuels, the increasing prevalence of autonomous trucking, and advancements in aerodynamics. Major trends expected in the forecast period include the integration of telematics and connectivity, the uptake of lightweight materials, the utilization of refrigerated trailers, the implementation of smart trailer technologies, the adoption of aerodynamic designs, and customization for specialized applications.

The global population is on the rise and is projected to reach approximately 10 billion by 2050, indirectly influencing the trailer market. This population surge generates increased demand for essential commodities such as food, automobiles, infrastructure, and transportation services. As per the American Trucking Association, a national trade association in the US representing the trucking industry, trucks handle around 71% of the nation's freight, driven by the expanding population in the country. Population growth is expected to be a significant factor driving the demand for transportation, particularly in countries such as India, Brazil, and African nations during the forecast period. Companies within the market anticipate a surge in demand for truck trailers, especially from manufacturers involved in the production of goods such as food, automobiles, clothing, and various consumer products in the forecast period.

The expanding e-commerce sector is poised to fuel the growth of the trailer market in the forthcoming years. E-commerce, involving the buying and selling of products and services, along with the electronic transfer of payments or data, primarily occurs through digital networks, notably the Internet. Trailers play a crucial role in transporting merchandise from warehouses to customers in the e-commerce industry, facilitating the delivery of products such as apparel, electronics, and home furnishings. For example, in August 2023, the U.S. Census Bureau reported that retail e-commerce sales in the second quarter of 2023 reached $269.5 billion, marking a 7.7% increase compared to the same period in 2022. Consequently, the growing prominence of the e-commerce sector continues to propel the trailer market.

The onset of the COVID-19 pandemic has posed significant challenges to the trailer market in 2020, with disruptions in supply chains due to trade restrictions and a decline in consumption resulting from global lockdowns. COVID-19, an infectious disease, led to widespread lockdowns and restrictions worldwide, impacting transportation manufacturers heavily reliant on the global supply of parts and components. Government-imposed restrictions on the movement of goods disrupted production as manufacturers faced shortages in crucial components. Additionally, consumer demand for new automobiles dwindled due to lockdowns. While the outbreak has had adverse effects, it is anticipated that the trailer market will recover over the forecast period, considering the pandemic's unique nature as a 'black swan' event, not indicative of underlying weaknesses in the market or the global economy.

Automation and sensor technology are gaining prominence in the trailer industry to enhance the efficiency of dump trailers. Automation technology enables truck drivers to automatically raise and lower the lift axes of dump trailers, streamlining the loading and unloading processes. Sensor technology, through intelligent algorithms, minimizes the risk of overloading trailers with fixed axles, thereby preserving tire wear. The integration of automation and sensor control systems plays a crucial role in reducing operational costs for transportation companies. Key industry players such as East Manufacturing Company are actively offering trailers with automatically deployed lift axles and rear suspension dumps.

Leading companies in the trailer market are prioritizing innovation to cater to the evolving needs of their customer base, exemplified by products such as the Lightship L1. The Lightship L1 stands out as a self-propelled, fully electrically powered travel trailer designed for superior aerodynamics and efficiency compared to conventional travel trailers. Notably, the L1 does not impede the range or efficiency of the tow vehicle, even in the case of electric vehicles. For instance, in March 2023, Lightship Energy, Inc., a US-based manufacturer specializing in streamlined, battery-powered trailers, introduced the Lightship L1. Featuring a hyper-efficient design that is three times more aerodynamic than standard travel trailers, the L1 boasts an electric drivetrain with up to 80 kWh of built-in battery storage. This configuration allows the trailer to drive itself without significantly affecting the range or productivity of the tow vehicle. Additionally, the Lightship L1 is equipped with a range of all-electric amenities and modern comforts for a seamless camping experience, coupled with an uncompromised battery system capable of providing a week's worth of off-grid electricity without recharging.

Major companies operating in the trailer market report are SAIC Hongyan Automotive Co. Ltd., Daimler Truck AG, Doggett Equipment Services Ltd., China International Marine Containers (Group) Ltd., Bernard Krone Holding SE & Co.KG, Wabash National Corporation, MAN SE, Miller Industries Inc., EnTrans International LLC, Schmitz Cargobull AG, Mac Trailer Manufacturing Inc., Heil Trailer International Co., Landoll Corporation, Trail King Industries Inc., Pitts Trailers, Doepker Industries Limited, Humbaur GmbH, Fontaine Trailer Company, East Manufacturing Company, Travis Body & Trailer Inc., Towmaster Trailers, Utility Trailer Manufacturing Company, Felling Trailers, Fruehauf Trailer Corporation, Ledwell, Krone Trailer, Böckmann Fahrzeugwerke GmbH, Ifor Williams Trailers Ltd., Kögel Trailer GmbH & Co. KG, Dennison Trailers Ltd., MANAC INC.

Asia-Pacific was the largest region in the trailer market of the trailers market in 2023. North America was the second-largest region of the trailer market. The regions covered in the trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the trailer market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The trailer market encompasses several types, including dry vans, refrigerated trailers, tank trailers, flatbed trailers, lowboy trailers, and others. A dry van, categorized as a semi-trailer, is employed to shield shipments from external elements. Different types of axles used in trailers include single axles, tandem axles, and three or more axles. Trailers find applications in transporting items such as paper and paper products, pharmaceutical drugs, textile products, food and groceries, agriculture and farm products, chemicals, petroleum and petroleum products, motor vehicles and parts, metal and minerals, commercial machinery, and various other products.

The trailer market research report is one of a series of new reports that provides trailer market statistics, including trailer industry global market size, regional shares, competitors with a trailer market share, detailed trailer market segments, market trends and opportunities, and any further data you may need to thrive in the trailer industry. This trailer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The trailer market consists of sales of drop-deck/step-deck trailers, double drop/lowboy trailers, removable gooseneck trailers (RGN), extendable flatbed stretch trailers, and side-kit trailers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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