Modular Trailer Market

Modular Trailer Market Size (2023 - 2028):

The Global Modular Trailer Market was worth US$ 8.07 billion in 2022 and is anticipated to reach a valuation of US$ 10.24 billion by 2028 and is predicted to register a CAGR of 4.32% during 2023-2028.

The growth of the global modular trailer market size is driven by expanding end-user industries like construction & infrastructure, wind & energy, mining, and heavy engineering. However, high prices of modular trailers and a lack of skilled labor could affect the expansion of the modular trailer market during the foreseen period of 2020 to 2027.

Market Drivers:

• Expanding the construction and mining industries will accelerate market growth.
• The increasing prevalence of freight transportation is another factor that drives the expansion of the market.
• Diversification of the wind energy industry to put in more power-generating equipment will enhance the market growth.

Restraints:

• Increased availability of local or regional players is going to be obstructing the expansion of the market.
• A lack of skilled and qualified drivers also can restrict the expansion of this market.

MODULAR TRAILER MARKET REPORT COVERAGE:

Market Segmentation:

Modular Trailer Market - By Type:

• Multi-axle
• Telescopic/Extendable
• Lowboy

The major driving factor for multi-axle trailers is the demand from end-user industries. The need for resource exploration and mining activities in developing countries is hiking. The good economic outlook and growth of the wind & energy and construction industries are expanding opportunities for modular trailer makers. Multi-axle trailer is likely to account for the most critical market share during the foreseen period. It can load dimension cargo with the addition of axle lines as per requirement. Because the axle lines are often attached and detached, a multi-axle trailer is commonly used for different applications. The payload capacity per axle line initiates from 15 tons. Moreover, it offers maximum agility, perfect stability, maneuverability, and safety.

Modular Trailer Market - By Application:

• Construction & Infrastructure
• Mining
• Wind & Energy
• Heavy Engineering

Construction companies usually have projects located in several areas. Modular trailers help with the transportation of the already built sections to places where they're going to be installed and at an equivalent time shift material and equipment from one project to a different one. These trailers are wont to transport large bridge segments, large girders, concrete beans, and construction machinery, among others. Spending on capital-intensive projects and infrastructure is predicted to grow significantly within the next decade, thereby driving the necessity for the transportation of construction equipment and materials.

Modular Trailer Market - By Number of Axles:

• 2 axles
• >2 axles

The 2-axle line trailers are available in a wide selection of sizes and weight-carrying capacities. Per-axle line load-carrying capacity starts from 10 tons and goes up to 1000 tons. 2-axle line trailers are quite famous for the transportation of large equipment. The Asia Pacific and North America together account for a better number of 2-axle line trailers. Consistent with the Indian Construction Equipment Manufacturer Association (ICEMA), the growth for earthmoving and mining equipment during FY 2017–18 was significant, recording a rise of 23%. The rising demand for such material creates the necessity for freight transportation for supply chain operations. In turn, it will create a positive outlook for the global modular trailer business.

Market Regional Analysis:

The Global Modular Trailer Market Report includes the segmentation of regions:

• North America - U.S, Canada
• Europe – Norway, Germany, Sweden
• Asia Pacific- China, India, Japan
• Latin America – Brazil, Mexico, Argentina
• Middle East and Africa

Market Recent Developments:

• Heavy-haul trailer maker Talbert Manufacturing shows its 65SA modular trailer that comes with multiple axle configurations and is supported by customer requirements, for optimum versatility and regulatory compliance.
• BPW subsidiary Idem has introduced a replacement, modular trailer telematics system known as Cargofleet Trailer Gateway. Consistent with the German component supplier, the system is predicated on a kind of onboard computer that processes data from so-called hubs, called the TC Gateway.
• The Faymonville Group is well-known across Europe for the development of towed equipment for specialist haulage equipment, also because of the transportation of glass and concrete elements. Recent this year, the group announced that they'd reached an agreement to accumulate 100% shares of Italian company Industrie Cometto S.p.A.
• French transport and repair provider, AltéAd, has taken ownership of the newest modular platform trailer from transportation specialist, the Tii Group, to help it with the transportation of wind turbines.