Modular Trailer Market Forecasted to Reach US$ 16.2 Billion by 2034 with 5.4% CAGR Growth | Future Market Insights, Inc.
The modular trailer market is thriving due to trends like telematics adoption, renewable energy projects, and urbanization. In the United Kingdom, technological advancements in design and materials, alongside improved load capacity and telematics management, are driving market growth.
NEWARK, Del, April 11, 2024 (GLOBE NEWSWIRE) -- The modular trailer market is estimated to be worth US$ 9.6 billion in 2024 and is projected to be valued at *US$ 16.2 billion by 2034*. Between 2024 and 2034, the industry is expected to register a *CAGR of 5.4%*.Increasing application in construction, mining, energy, and transportation, where the efficient and reliable transportation of heavy or oversized cargo is essential to drive the market demand during the forecast period.
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The demand for expedited delivery of goods and the expansion of e-commerce will necessitate using modular trailers as an effective means of transportation for large and bulky loads. Modifications to safety, pollution, and transportation laws may impact modular trailer design and uptake, spurring additional innovation and market expansion.
Constant improvements in technology, materials, and trailer design make modular trailers more effective, safe, and high-performing. Features that enhance operational capabilities and draw in clients seeking cutting-edge transportation solutions include lightweight materials, sophisticated load management systems, and remote monitoring.
*Key Takeaways*
· From 2019 to 2023, the modular trailer market expanded at a CAGR of 7.2%.
· Based on the type, the multi-axles segment is expected to rise at a CAGR of 5.2%
· The demand for modular trailers in the United Kingdom is predicted to grow at a CAGR of 6.7% through 2034.
· In the United States, the modular trailer industry is estimated to register a CAGR of 5.7% from 2024 to 2034.
· China is projected to expand by a CAGR of 5.9% between 2024 and 2034.
· The modular trailer market in Japan is anticipated to record a CAGR of 6.8% during 2034.
“The increasing infrastructural development across the globe and increased expansion of various industries drive the modular trailer market,” *- **Nikhil Kaitwade* (Associate Vice President at Future Market Insights, Inc.)
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*Competitive Landscape *
The market players may expand their product portfolios to offer a comprehensive range of trailers for different applications and industries. Market players are collaborating with other industry players, including logistics providers, fleet operators, and technology partners, which can create synergies and enhance capabilities
· Demarko Trailers manufactures heavy-duty trailers and transport equipment, including modular trailers, low loaders, and extendable trailers. They offer innovative solutions for transporting oversized and heavy cargo in various industries.
· Hugelron Tech Co. Ltd. manufactures modular trailers and specialized transport solutions. They focus on providing high-quality trailers with advanced features, such as hydraulic steering systems, telescopic trailers, and modular platform trailers.
· Goldhofer is a global leader in manufacturing heavy-duty trailers and transport equipment. They offer a comprehensive range of modular trailers, including self-propelled modular transporters (SPMTs), hydraulic modular trailers, and specialized transport solutions for various industries.*Key Companies Profiled*
1. Faymonville
2. K-Line Trailers Ltd
3. Tidd Ross Todd Limited
4. Shandong Titan Vehicle Co. Ltd
5. Demarko Trailers
6. Hugelron Tech Co. Ltd
7. VMT Industries
8. Goldhofer
9. Tantri
10. Broshuis BV
*Report Scope*
*Attributes* Details
*Estimated Market Size in 2024* US$ 9.6 billion
*Projected Market Valuation in 2034* US$ 16.2 billion
*Value-based CAGR 2024 to 2034* 5.4 %
*Forecast Period* 2024 to 2034
*Historical Data Available for* 2019 to 2023
*Market Analysis* Value in US$ billion
*Key Countries Profiled* · The United States
· Canada
· Brazil
· Mexico
· Germany
· The United Kingdom
· France
· Spain
· Italy
· Russia
· Poland
· Czech Republic
· Romania
· India
· Bangladesh
· Australia
· New Zealand
· China
· Japan
· South Korea
· GCC countries
· South Africa
· Israel
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*Modular Trailer Market - Key Segments*
*By Type:*
· Multi-Axle
· Telescopic/Extendable
· Lowboy Trailer*By Axles:*
· 2 Axles
· >2 Axles
*By Application:*
· Construction & Infrastructure
· Mining
· Wind & Energy
· Heavy Engineering
*By Region:*
· North America
· Latin America
· Western Europe
· Eastern Europe
· South Asia and Pacific
· East Asia
· The Middle East and Africa
*Author*
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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