Automotive Trailer Global Market Report 2024

The automotive trailer market size has grown strongly in recent years. It will grow from $23.54 billion in 2023 to $24.77 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. During the historic period, growth in the automotive trailer industry was driven by several factors, including economic expansion, heightened global trade activities, compliance with regulatory standards, shifts in consumer preferences, advancements in infrastructure, and fluctuations in fuel prices. These factors collectively contributed to the industry's development and expansion during that time.

The automotive trailer market size is expected to see steady growth in the next few years. It will grow to $29.47 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. In the forecast period, growth is expected due to the proliferation of autonomous vehicles, stricter environmental regulations, advancements in data analytics and connectivity, trends in urbanization, and enhanced supply chain resilience. Key trends anticipated include technological advancements, increased emphasis on sustainability, innovations in safety measures, adoption of customization and lightweight materials, and the impact of the burgeoning e-commerce industry.

The automotive trailers market is anticipated to experience growth driven by the expanding logistics industry. The logistics sector, responsible for coordinating the movement of goods from origin to consumption, plays a crucial role in the global economy. Automotive trailers, integral to logistics, facilitate the transportation of various goods, including machinery and consumer products. In 2021, the International Transport Forum reported a 9.8% increase in global freight trade. Additionally, according to the US Department of Transportation in January 2023, North American trans-border freights rose by 10.6% compared to January 2022, with truck freight valued at $77.7 billion, reflecting a 12.7% increase from 2022. The robust growth in the logistics industry is a key factor propelling the automotive trailers market.

The automotive trailer market is expected to witness growth propelled by the increasing demand in the automotive industry. This industry encompasses the entire vehicle lifecycle, including design, manufacturing, marketing, and sales. Automotive trailers are crucial for transporting vehicles from manufacturing facilities to distribution centers or dealerships. They also serve specialized purposes, such as transporting race cars or oversized vehicles within the automotive sector. According to the European Automobile Manufacturers Association, global motor vehicle production reached 85.4 million units in 2022, reflecting a significant 5.7% increase from the previous year. Additionally, Brand Finance plc reported a substantial 10% increase in automobile sector unit sales, reaching approximately 78 million units in 2022. The growing demand within the automotive industry is a key driver for the automotive trailer market.

A notable trend in the automotive trailers market is the emphasis on product innovations by major companies to maintain their market positions. These innovations contribute to the sustainability and efficiency of trailer designs. For example, Lightship RV, a US-based recreational vehicle company, introduced the Lightship L1 in March 2023. The L1 is touted as the first purpose-built, aerodynamic, all-electric travel trailer. Featuring a patented power system architecture that integrates an automotive electric vehicle battery and powertrain with a domestic-scale solar system, the L1 is three times more aerodynamic than conventional trailers. This innovation allows the L1 to harvest and store clean solar energy, minimizing range or MPG loss for the towing vehicle and enabling the trailer to power various all-electric appliances within the vehicle.

Leading companies in the automotive trailer market are investing in innovative products, such as trailer air suspension, to establish a competitive advantage. Trailer air suspension is a specialized vehicle suspension system designed for semi-trailers, delivering a smooth and consistent ride. In August 2021, Jamna Auto Industries, an Indian automotive industry company, introduced a trailer air suspension system. This innovative solution allows an additional one ton of load per axle, enhancing efficiency and profitability for businesses. The system incorporates a lift axle module that can be retrofitted on older trailers with mechanical suspension, enabling operators to save on tire wear when the trailer is running with little or no load. Utilizing air springs to support the vehicle's weight, the trailer air suspension provides an adjustable and smooth ride.

In April 2022, Novae LLC, a US-based trailer manufacturer and a portfolio company of Brightstar Capital Partners, strategically acquired Look Trailers for an undisclosed amount. This acquisition positions Novae among North America's leading trailer manufacturers, contributing to the enhancement of its product offerings and overall value proposition. Look Trailers, a US-based manufacturer specializing in cargo trailers and other automotive trailers, brings valuable expertise and capabilities to Novae, reinforcing its market position and expanding its product portfolio.

Major companies operating in the automotive trailer market report are Bockmann Fahrzeugwerke GmbH, Dennison Trailers Ltd., Humbaur GmbH, Great Dane Trailers Inc., Ifor Williams Trailers Ltd., Wabash National Corp., Utility Trailer Manufacturing Co., Schmitz Cargobull, Fontaine Commercial Trailer Inc., Load Rite Trailers Inc., East Manufacturing Company, Felling trailers Inc., Kentucky Trailer Company, MAC Trailer Enterprises Inc., Fruehauf Trailer Corporation, Deopker Industries Limited, Manac Trailers Inc., Heil Trailer International LLC, Stoughton Trailers, Wilson Trailer Company, Vanguard National Trailer Corporation, Trail King Industries, Pitts Trailers, Reitnouer Inc., Hyundai Translead, Kentucky Trailer, Strick Trailer, Travis Body & Trailer Inc., Doonan Specialized Trailer LLC, Dorsey Trailer, Talbert Manufacturing, Western Trailer, M.H. Eby Inc., Featherlite Trailers, Felling Trailers, Transcraft Corporation, Timpte Inc., XL Specialized Trailers, Kaufman Trailers, Haulmark Industries.

North America was the largest region in the automotive trailers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the automotive trailer market report during the forecast period. The regions covered in the automotive trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive trailer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

These trailers come in various types, including two-wheelers, bikes, passenger cars, and commercial vehicles, each utilizing different axle setups - single, tandem, or three-plus axles. They're specialized for diverse tasks such as dry van transport, refrigeration, chemical or liquid hauling, tipping, and flatbed use. Their applications span across automotive, transportation, logistics, and other industries.

The automotive trailer market research report is one of a series of new reports that provides automotive trailer market statistics, including automotive trailer industry global market size, regional shares, competitors with a automotive trailer market share, detailed automotive trailer market segments, market trends and opportunities, and any further data you may need to thrive in the automotive trailer industry. This automotive 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 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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