Automotive Trailer Market to Reach USD 32.45 Billion by 2030

GUWAHATI, India - Jan. 23, 2024 - PRLog -- The global Automotive Trailer Market is poised for substantial growth, with a predicted size of USD 32.45 billion at a Compound Annual Growth Rate (CAGR) of 3.5% from 2022 to 2030, according to a comprehensive study by Next Move Strategy Consulting.

Automotive trailers, unpowered vehicles towed by motor vehicles, are instrumental in transporting heavy goods and commodities. Whether used for personal tasks with powered vehicles or cargo transportation with semi-trailer trucks, these trailers come in single and multiple axles, serving a range of purposes such as utility trailers, travel trailers, or campers.

The surge in demand for cold chain logistics, driven by the need to transport pharmaceuticals, vaccines, chemicals, and food & beverages globally, coupled with the expanding logistics industry utilizing automotive trailers, is expected to fuel the market's growth during the forecast period. Improved road connectivity and better road conditions are also significant factors contributing to the market's expansion.

Furthermore, the growth of manufacturing industries, including textiles, motorbikes, oil & gas, and agriculture, necessitates the use of automotive trailers for the shipment of raw materials and finished goods, thereby fostering market growth.

The global automotive trailer market is segmented based on trailer type, axle type, vehicle type, and geography. Trailer types include dry van & box, tipper, chemical & liquid, flatbed, refrigerator, and others. Axle types encompass single axle, tandem axle, and three or more than three axles. Vehicle types include two-wheelers & bicycles, commercial vehicles, and passenger cars. Geographical segmentation covers North America, Europe, Asia-Pacific, and Rest of the World (RoW).

Asia-Pacific stands out as the dominant region in the global automotive trailer market and is projected to maintain its lead throughout the forecast period. Factors contributing to this dominance include growing government support for double and triple-deck trailers and the increasing number of infrastructure development initiatives requiring trailers for transporting construction materials and equipment.

In contrast, North America has witnessed substantial growth in the automotive trailer market, driven by the adoption of advanced technologies for trailer modifications in the region.

The Next Move Strategy Consulting report provides a detailed breakdown and analysis of each segment, offering insights into the market dynamics across different regions. As the automotive trailer market continues to evolve, key players and stakeholders are poised to benefit from the opportunities presented by this dynamic sector.

Access full report: https://www.nextmsc.com/report/automotive-trailer-market

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