US Semi-Trailer Market Size Likely to Grow at a CAGR of 5.8% By 2033

As per the current market research conducted by CMI Team, the US Semi-Trailer Market size is expected to record a CAGR of 5.8% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 7,563.1 Million. By 2033, the valuation is anticipated to reach USD 12,562.4 Million.

US Semi-Trailer Market: Growth Factors and Dynamics

• Rising Freight Demand: This resulted in the overall increase in the demand for freight services due to enhanced economic growth and increased spending from the clients thereby fueling the need for semi-trailers. Several industries including manufacturing, retail, and construction are increasing their transportation capacities and this is adding pressure on the manufacturing companies to produce new and advanced semi-trailers for handling increased volumes and frequent shipment capacity.

• Infrastructure Investments: New construction and improvement of highways and bridges and intermodal transportation facilities sustain the capacity of semi-trailers. Due to better infrastructure services available to the freights, reduced transit times and an increase in the semi-trailer space, the market expands.

• Technological Advancements: Some of the factors driving the growth of the semi-trailer market include; increased use of advanced telematics, automation systems, semi-trailer safety solutions among others. These have made operations efficient, and safe and attract more clients since they offer better reliability and performance as compared to older models.

• Regulatory Changes: They pointed out that the regulations on emissions, safety, and weight are some of the factors pushing the demand for the newer generation of semi-trailers. Customers are focusing on models that are environmentally friendly and safe from any harm because this affects the manufacturer’s market and compliance to changes in regulations.

• Logistics and Supply Chain Optimization: Interest in the further improvement of supply chains and logistics activities sparks the usage of semi-trailers that provide better load control, performance and versatility. These goals are some of the reasons that companies strive for better delivery time, lower cost of transportation, and better supply chain management.

• Economic Recovery: It has been observed that the economy of the U. S. has bounced back in the period of the pandemic and this has led to a rise in industrial and commercial growth. Increased output and distribution requirements and high consumer expenditure towards products requiring semi-trailer increase the need for the products in different sectors and thus propel the growth in the market for semi-trailers continuously.

• E-Commerce Expansion: The current trends of e-commerce are bringing pressure on a request for increasing the number of semi-trailers to transport greater amounts of cargo and to create a rational supply chain. There is always pressure and demand for on-time delivery, and transport flexibility contributes to specific market growth, more so with companies continuously coming up with improved, better-designed and beneficial trailers.

US Semi-Trailer Market: Partnership and Acquisitions

• In 2023, Schmitz Cargobull partnered with Trimble to enhance data-driven freight forwarding. This collaboration allows freight forwarders to utilize real-time data more effectively, improving operational efficiency and decision-making in the transportation and logistics sectors.

• In 2022, Marmon Highway Technologies acquired Fontaine Trailer Company, a top semi-trailer manufacturer. This acquisition expands Marmon’s portfolio of transportation solutions and enhances its capacity to serve customers more effectively in the North American market.

Report Scope

US Semi-Trailer Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the US Semi-Trailer Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Supply Chain Disruptions: The COVID-19 pandemic caused significant disruptions in global supply chains, affecting the availability of raw materials and components needed for semi-trailer manufacturing. This led to production delays, increased costs, and longer lead times for delivery.

• Reduced Demand: During the height of the pandemic, economic uncertainty and lockdown measures led to a decrease in industrial and commercial activities, resulting in reduced demand for semi-trailers. Many companies postponed or canceled fleet expansion plans, affecting the market growth.

• Increased Infrastructure Investments: Post-pandemic, there has been a renewed focus on investing in transportation and logistics infrastructure, driving demand for new semi-trailers to support upgraded and expanded systems.

• E-Commerce Growth: The surge in e-commerce has accelerated the need for efficient transportation solutions. This has led to increased demand for semi-trailers to handle higher freight volumes and meet the growing logistics requirements of online retail.

• Technological Innovations: Advancements in semi-trailer technology, such as improved telematics and automation, are being adopted to enhance efficiency and safety. These innovations are attracting investments and driving market recovery by addressing new operational challenges.

• Economic Stimulus: Government stimulus packages and economic recovery plans are boosting industrial and commercial activities. Increased economic activity is translating into higher demand for semi-trailers as businesses resume expansion and logistics operations.

• Fleet Modernization: Companies are investing in modernizing their fleets with newer, more efficient semi-trailers. The focus on upgrading to advanced models that offer better performance, fuel efficiency, and compliance with new regulations is contributing to the market’s recovery.

• Adaptation to New Business Models: The pandemic has accelerated the adoption of new business models, such as just-in-time inventory and flexible logistics solutions. Semi-trailer manufacturers and fleet operators are adapting to these changes by investing in more versatile and efficient trailers, which supports market recovery and growth.

In conclusion, the COVID-19 pandemic has had a mixed impact on the US Semi-Trailer Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the US Semi-Trailer Market:

• Utility Trailer Manufacturing Company
• Wabash National Corporation
• Great Dane Trailers
• Stoughton Trailers LLC
• Monaco Coach Corporation
• Schwarzmüller Group
• Krispy Kreme Doughnut Corporation
• Trail King Industries Inc.
• Dorsey Trailer LLC
• Fontaine Trailer Company
• Hewitt Truck & Trailer Manufacturing
• Lufkin Trailer Manufacturing
• Johnson Trailer Company
• Wilson Trailer Company
• Wilcox Bodies Ltd.
• Others

The US Semi-Trailer Market is segmented as follows:

By Type

• Flatbed Trailers
• Drop Deck Trailers
• Refrigerated Trailers
• Tanker Trailers
• Container Trailers
• Others

By Axle Configuration

• Single Axle
• Tandem Axle
• Triple Axle
• Other

By Length

• Upto 45 Feet
• Above 45 Feet

By Tonnage

• Below 25T
• 35T to 50T
• Above 50T

By End-Use Industry

• Construction
• Logistics and Transportation
• Agriculture
• Oil and Gas
• Automotive
• Chemical and Pharmaceutical
• Others