US Semi-Trailer Market 2024–2033

Reports Description

As per the current market research conducted by CMI Team, the US Semi-Trailer Market is expected to record a CAGR of 4.7% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 11.38 Billion. By 2033, the valuation is anticipated to reach USD 18 Billion.

The semi-trailer market in the United States represents an essential inclusion in logistics and freight transport, which plays a critical role in supporting trades including retail, construction, agriculture among others. The market is characterized by a wide variety of trailers which include flat beds refrigerated trailers dry vans tank trailers etc, the market has changed positively over the years due to the changing needs of the consumers and surrounding trade issues.

Enhancements from technology, for example, telematics, internet of things (IoT) tracking, and autonomous ready vehicles have driven efficiencies in the business and changed fleet management entirely. Key drivers include the growing e-commerce industry which has generated a demand for faster deliveries coupled with different types of trailers and respect for the environment which has made manufacturers produce light trailers that consume less fuel.

Therefore, the players within the industry are embracing innovation and differentiation to meet different transportation needs, in a bid to remain relevant due to the increasing efforts to move goods across the country.

US Semi-Trailer Market – Significant Growth Factors

The US Semi-Trailer Market presents significant growth opportunities due to several factors:

• Expansion in E-commerce: E-commerce expansion has caused the need for effective logistics systems which in turn boosted the growth of semi-trailer manufactures and their market. Logistics companies require reduced delivery times therefore a fleet that can support fast fulfilment and last mile deliveries. Truck mounted trailers, particularly with dry vans and refrigerated models have been vital especially for long hauls and also businesses with warehouses in areas of high consumption. It is this rapid evolution of online retail business that has further entrenched the position of semi-trailers in the logistics industry and hence its persistent market growth.

• Technological Advancements: Telematics and IoT technologies are giving the hauling services and fleets in the U.S. semi-trailer industry a new lease of life. Smart tracking systems allow the operator to monitor the position, maintenance condition and load weight of a trailer, which helps in routing and minimizes down time. On top of that, semi-trailers are positioned towards the development of autonomous and electrification technologies which enhance their effectiveness but also ready the market for future changes in mobility. The enhancements in these technologies bring about optimization of operations, reduction of costs and enhancement of productivity hence semi-trailers become more viable for fleet operators.

• Environmental Regulations and Fuel Efficiency: Growing environmental constraints imposed by legislation are stimulating semi-trailer builders to adopt more fuel-efficient designs, including the use of lighter materials such as aluminium, improved aerodynamics and hybrid or electric power sources. As the emissions issues rises, operators of the fleets give preference to those specific trailers which help avoid fuel waste and are compliant with law. This shift, in turn, is advantageous for those manufacturers, who pursue development of environmentally friendly technologies as the US market creates development potential for these companies by environmental protection benefits.

• Demand for Cold Chain Logistics: The cold chain logistics industry is increasing in scope owing to the rising demand for perishable goods, bulk medicines, and temperature-sensitive items. This has led to the increase in the supply of refrigerated trailers meant to keep goods in a specific temperature when transported over long distances. Semi-trailers, in particular, has become a primary mode of transport in the cold chain system and so manufacturers are keeping pace with the changes in the market by making superior insulated and thermal insulated semi-trailers with active temperature control system. This is a major source of growth, particularly under the current climate where there are high demands for fresh foods and health products from the consumers.

• Expansion of Construction and Manufacturing Sectors: Construction and manufacturing sectors are rebuilding and growing, increasing the need of semi-trailers for carrying construction materials, machinery and ready products. Movement of the oversized and overweighed goods, which is often needed at construction sites, is done using flatbeds, lowboys and heavy-duty semi-trailers. This is especially so with the expansion of infrastructure investment by the governments especially on public works and housing, the growth of the trailer market is accompanied by increasing need for specialized trailers encouraging manufacturers to continue producing more advanced models with improved functions.

US Semi-Trailer Market – Key Developments

The Semi-Trailer Market from the US has gone through various changes in the past, where the companies are trying to increase their chance on the market and exploit synergies in order to enhance their products and improve their profitability. Some examples of M&As activities that can be noted in the US Semi-Trailer Market include:

• In 2023, Schmitz Cargobull has entered into a partnership with Trimble towards promoting data-centric freight forwarding. The manufacturer of trailers Schmitz Cargobull has joined forces with technology corporation Trimble in a bid to assist providers of freight transport services in the effective utilization of real-time data.

• In 2023, Great Dane Trailer, a subsidiary of Great Dane LLC trailer manufacturer, announced enhancements on its FleetPulse smart trailer technology and the electrification kit from SAF-HOLLAND for its trailers. The FleetPulse system now provides alerts for ABS fault codes as well as the mileage on hub rotations which helps fleets to enhance safety and operational performance.

These developments have in turn enabled the companies in augmenting of their product range, increasing their presence in the market and taking advantage of the opportunities for growth in the US Semi-Trailer Market. The tendency will also remain as the companies in question will try to receive a competitive advantage over their rival companies in the future.

US Semi-Trailer Market – Significant Threats

The US Semi-Trailer Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Supply Chain Disruptions: Continual disruptions in the supply chain such as the shortage of semiconductors and the delayed provision of steel have influenced the production of semi-trailers. The production lead times have gone higher than normal and in some cases the trailer prices have increased due to the scarcity of the major parts. This situation hampers growth of the market since the companies are unable to address the demand in a reasonable time. In addition, labor shortages especially in manufacturing hubs aggravate supply chain problems and affect availability of finished goods to the customers.

• High Initial Investment and Maintenance Cost: The cost of obtaining and maintaining semi-trailers is high and it would discourage small scale logistics operators and fleet owners from procurement. The costs are however very high for modern vehicles such as those with telematics, hybrid engines, or any other modifications. Even more, these operating overheads also cater for repairs, routine assessment and other costs associated with meeting timelines regarding implementation of the law. This may prevent some of the smaller players from re-fleeting or scaling up their operations which in turn, affects the growth opportunity of the market as a whole.

• Stringent Regulatory Compliance: There are extensive regulations to which manufacturers of semi-trailers and operators of fleets are subject with respect to the environment, safety, and measures on how to operate within limits of, for example, poison and oversized loads. Such rules require more frequent checks, equipment, and repairs along with behavioural modifications in compliance with these drawbacks, including costs associated with new equipment. A potential investor who wishes to start or expand operations faces such regulatory challenges. Smaller companies view these challenges as a possibility of penetrating the market whereas existing companies treat them as ongoing operational tasks.

• Driver Shortage and Rising Wages: The transportation sector in the United States has a persistent problem of skilled labor and especially drivers which is severely affecting the semi-trailer market. This shortage results in increased wages, which adds extra financial burdens on fleet operators who are already working on very thin profit margins. In addition, the problem of driver shortages affects capacity utilization making it hard for fleets to fully operate. Consequently, semi-trailer operators have no choice but come up with initiatives to retain drivers such as in some cases scaling down of operations, which is undesirable since it stifles growth of the market.

• Volatility in Fuel Price: Semi – trailer systems also suffer from the consequences of fuel price volatility as the cost of fuel is a large element of the long-distance transport business operational cost. Increasing fuel prices also in turn lower the margins, especially for those fleet owners who do not have access to fuel saver trailers. Fluctuations in fuel prices also impede the purchasing of new trailers because an increase in day to day operational cost alters the projections for costs in expansion or even modernization. Once again, this uncertainty surrounding the high operational costs resulting from fuel price volatility has affected the semi-trailer industry by limiting the growth in demand.

Category-Wise Insights

By Type

• Tanker: Tanker semi-trailers are purpose-built trailers designed for the transportation of liquids, gases, and certain dry bulk materials needed in the oil & gas, chemical, and agricultural sectors. Fuels, chemicals, and food-grade tankers are some of the designs of these trailers that serve different cargo needs. Each is equipped with features suitable for the specific class of goods transported. For instance, compartments are designed in fuel tankers to control the flow of liquids so as to avoid any possible tipping situations of the tanker truck. Corrosive materials tankers are made out of polymeric matrices reinforced with fiberglass to protect them from the chemicals they transport.

• Refrigerated: This kind of trailer (or a refrigerator, as they often call them) is primarily used to carry goods that require low temperature maintenance or that easily get spoiled. These are smartphones and food transportation devices. A wide variety of insulation materials that use advanced cooling technology are employed in those trailers. Most of the time, diesel refrigeration or electric cooling units are used to keep constant the temperature.

• Dry Vans: Dry van semi-trailers are built to carry cargoes that do not require any temperature control and are therefore safe from moisture like electronics and clothes and packaged goods. Such entirely no roof trailers are efficient boxes, which keep out adverse weather conditions, dust, and other debris from the inside of the truck. They are also often called grain plastic automobile tanks. Dry vans are flexible in their use and so are normally made with hard wearing materials made from metals such as steel or aluminum and available in various lengths to suit the sizes of the freights one is transporting.

• Lowboys: Lowboy semi-trailers, also called low loaders, are primarily for transporting huge weight high structure equipment that cannot be carried using standard height restriction trailers. Lowboys typically feature a deck that is level with the ground and such weight loads allows for the carriage of taller loads without exceeding the prescribed maximum limit height for the transportation on the road. Usually, these trailers are used in industries such as construction, mining, and heavy machinery and are used to carry other items like excavators, bulldozers, and industrial gear.

• Flatbed: Flatbed semi-trailers are simple trailers that are open and decked out so that there is no restriction on the loading or offloading of cargo from any side of the trailer. Perfect for carrying oversized, heavy-as-well-as-out-of-shape objects, flatbeds are primarily deployed in the transport of building equipment, farming products as well as manufacturing supplies such as timber, piping, machinery and metallic coils. Flatbeds are designed without sides and without a roof so as to enable the transportation of out of gauge cargo that is larger than what enclosed containers can carry thus enabling transport of different kinds of freight.

By Tonnage

• >100 Tons: More than 100-ton capacity semi-trailers are heavy-duty transport equipment, th Moreover, it is used in the majority of cases for the needs of the mining, construction, and power industries. These extreme heavy-duty trailers, such as multi-axle lowboys and modular platform trailers, are capable of transporting oversized loads, such as heavy machinery, construction equipment, and building elements. These are specially made for extreme heavy loads transport including transport of industrial machines and processing plants, construction machineries, and building elements verticals.

• 51-100 Tons: Semi-trailers in 51-100-ton range are most important for heavy-haul work and combine adequate strength with reasonable flexibility to carry cargoes like medium to large sized industrial machinery, heavy building materials, and large components of civil engineering. In general use in construction, production, and farming, these are generally flat, low or step deck trailers constructed using strengthened chassis and several axles, which can bear enormous weights while maintaining great stability.

• 25-50 Tons: 25-50-ton semi-trailers are useful heavy-duty transport options which can carry intermediate kgs of freight, such as lighter earth moving and construction machines, factory equipment and certain food grains. In this capacity range, there are many options for trailers including flatbeds, step decks and smaller lowboys that are used in construction, manufacturing and agriculture where enough loads are carried but not to an extreme extent.

• <25 Tons: Semi-trailers with a less than 25-ton loading capacity are convenient, transportable and able to operate within cities with light and medium loads such as: e.g. – pallets, small machines and agricultural products. These trailers are frequently used for urban and regional deliveries where space limitations and weight restrictions apply. Common examples in this segment include small flatbed, dry vans and utility trailers which possessed basic construction for easy loading and unloading.

By End Use

• Oil and Gas: In the oil and gas sector, the need for semi-trailers increases tremendously as they are pivotal when it comes to moving heavy machinery, equipment and even finished products from one place to another within difficult and far off places. Specialized semi-trailers in the form of tankers, flatbeds and lowboys all help in the lading of many things starting from rotary drilling rigs and pumps to transporting liquids including crude oil, diesel and natural gas liquids.

• Chemical: In the chemical sector, semi-trailers assist in carrying a mixture of bulk liquid chemicals, which are hazardous and non-hazardous to the environment. Usually tank trailers are designed to carry specific types of liquids, and are made of materials, which can withstand corrosion and conform to the relevant safety standards. These cargo containers incorporate high-tech hazard control measures vapor recovery systems and pressure limiting valves to avert dangers in the process of transportation.

• Logistics: In logistics, the semi-trailer is a key component that enables long-haul transport of goods and has made supply chains feasible for all sectors of economy – retail, manufacturing and e-commerce among others. The semi-trailer refers to the rearmost part of a truck, which is connected by means of a fifth wheel. These include dry vans, flatbeds and reefers and are used with different types of cargo including canned food and electric diesel motors, as well as chilled goods.

• Automotive: In the automotive sector semi-trailers are important in carriage of automobiles and their parts between the manufacturers, distribution centers and dealers. Car hauler trailers transport multiple cars in one trip and have a unique design with a sleeper, safe and secure systems that hold the new and second-hand cars, trucks, and SUVs carefully and in a stable manner.

• FMCG: Fast-moving consumer goods (FMCG) industries use semi-trailers for distribution and transport of diverse product categories ranging from food and drinks to cosmetics and home type of products. For these products which are very high on demand, semi-trailers help in transporting them from the manufacturers to the retail and distribution places very efficiently and reliably.

• Heavy Industry: In the case of heavy industry, semi-trailer trucks are necessary for many industrial activities in order to move large and heavy as well as oversized loads of equipment and materials that are particularly important in those industries such as construction, mining, and manufacturing. Trailers designed for such loads, for example lowboys or flatbed trailers, are built to carry the burden safely and economically when hauling equipment like excavators’ cranes and generators.

Report Scope

Competitive Landscape – US Semi-Trailer Market

The US Semi-Trailer Market is highly competitive, with a large number of manufacturers and retailers operating in US. Some of the key players in the market include:

• Crossroad Trailers Sales and Service Inc.
• Diamond T Truck & Trailer Inc.
• Great Western Leasing and Sales
• Larry’s Trailer Sales & Service LLC
• Northwest Truck & Trailer
• Royal Truck & Trailer Sales and Service Inc.
• Semi-Truck and Trailer Sales
• Star Trailer Sales Inc.
• Superior Trailer Sales
• Young truck and trailer
• Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

The new players in the semi-trailer market in the U.S. are stimulating innovation and competition, usually by means of new technologies and environmental sustainability. These corporations are utilizing the latest materials trends, that is, the use of lightweight composites and aluminum to make semi-trailers that are fuel efficient as well as payload efficient. Moreover, a number of new entrants are making their trailers smart by the inclusion of technologies such as telematics and the Internet of Things (IoT) for real-time maintenance and fleet management purposes.

Not only does this enhance efficiency in operations but it also aids in achieving the objectives of environmental sustainability by minimizing the distance travelled and emissions released. Also, young companies are responding to the market needs for specific trailers such as those designed for electric vehicles and those for renewable energy as a result of this transition in the industry to greener ecosystem. Offering tailored products and services for the clients coupled with using e-channels to market and service their products, these new competitors are not just waging war against the existing manufacturers rather they are pushing the entire sector towards market transformation and greening.

The US Semi-Trailer Market is segmented as follows:

By Type

• Tankers
• Refrigerated
• Dry Vans
• Lowboy
• Flatbed

By Tonnage

• >100 Tons
• 51-100 Tons
• 25-50 Tons
• <25 Tons

By End-Use

• Oil and Gas
• Chemical
• Healthcare
• Logistics
• Automotive
• FMCG
• Heavy Industry