In terms of revenue, the North America semi-trailer market was valued at US$ 10,637.1 million in 2019 and it is expected to grow at a CAGR of 4.2% during the forecast period of 2020 to 2027 to reach US$ 13,638.4 million by 2027.
Technological advancements have enhanced the seafood packaging, processing, and storage processes during their shipping from one place to another. The retail sector in the US is altering the ways food is being made available across every retail shop, such as convenience stores and supermarkets. These changes in the food, pharmaceuticals, and retail industries—boosting the demand for cold chain—are supporting the growth of the semi-trailer market in North America. The developments in cold chains help in retaining the quality of the perishable food and temperature-sensitive medical products, thereby assuring reliable and efficient shipping of these products. The shipment of frozen foods in refrigerator semi-trailers facilitates the preservation of their nutritive values and quality for a longer period. The cold chain operators in North America are constantly focusing on advancements in the existing technologies associated with the transportation of products, while ensuring efficiency, integrity, and safety. Several market players present in the region are focusing on the development of a variety of semi-trailers. For instance, in 2020, Fontaine introduced Fontaine Magnitude 60LCC, a lowbed trailer intended for customers working in regions where spread-axle configurations are not required to maximize their trailer loads. Similarly, in 2019, East Manufacturing introduced its aluminum air tank as a standard on all trailer types and models, which is a lightweight trailer and rising its life span and recycling value by implementing anti-corrosive material and coating. Thus, such developments in the US, Canada, and Mexico, are accelerating the growth of the North America semi-trailer market
North America is an early adopter of several advanced technologies. Companies present in this region are continuously focusing on enhancing the overall business processes to meet customer requirements by offering high-quality products and services in the best possible way. The supply chain industry in the region has been undergoing a constant transformation, thereby substantially impacting warehousing and distribution fundamentals. Emerging technologies play a significant role in this development by filling a gap between supply chain operations and customers. The escalating adoption of semi-trailers in the US is mainly attributed to the boom in the automotive and e-commerce sectors and increased demand for perishable foods by the retailers. The mode of transportation for perishable goods depends on the type of goods, distance over which the product needs to be transported, and conditions under which the product must be shipped. Depending on the mode of transportation, the perishable goods are transported through sea, air, rail, and roadways. Road transportation is highly preferred to transport goods across the borders. Thus, the demand for refrigerated semi-trailers is growing across the region. On other hand, due to the COVID-19 outbreak, majority of the manufacturing plants are shut down, municipalities are functioning slowly as compared to past, and the automotive, manufacturing, and semiconductor industries are at a halt, which is negatively impacting the semi-trailer market. In terms of patient count and death toll, Canada and Mexico are still at a nascent stage compared to the US, which is the worst affected country due to the COVID-19 outbreak. The huge increase in number of confirmed cases in the US and rise in reported deaths in the country have affected the logistics industry. As per Geotab Inc.'s study, a significant drop has been witnessed in commercial transportation activity in the US and Canada, wherein the US, the impact is more significant. With a decline in commercial transportation activity, the growth of semi-trailer market in the region has been impacted in a negative manner.
North America Semi-Trailer Market Revenue and Forecast to 2027 (US$ Million)
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North America Semi-Trailer Market Segmentation
North America Semi-Trailer Market – by Type
- Flatbed
- Lowboy
- Dry Van
- Refrigerated
- Tankers
- Other Types
North America Semi-Trailer Market – by Number of Axles
- Less Than 3 Axles
- 3 to 4 Axles
- More Than 4 Axles
North America Semi-Trailer Market – by Tonnage
- Below 25 Tons
- 25 Tons and 50 Tons
- 51 Tons and 100 Tons
- Above 100 Tons
North America Semi-Trailer Market – by Country
- US
- Canada
- Mexico
North America Semi-Trailer Market - Companies Mentioned
- Hyundai Translead
- Manac Inc.
- East Manufacturing Corporation
- Fontaine Trailer
- Great Dane LLC
- HEIL TRAILER INTERNATIONAL
- Kentucky Trailer
- STI HOLDINGS, INC (Stoughton Trailers)
- Trail King Industries
- Utility Trailer Manufacturing Company
- Vanguard National Trailer Corp.
- Wabash National Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Number of Axles, and Tonnage
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Canada, Mexico, United States
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Semi-Trailer Market – By Number of Axles
1.3.2 North America Semi-Trailer Market – By Type
1.3.3 North America Semi-Trailer Market – By Tonnage
1.3.4 North America Semi-Trailer Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Semi-Trailer Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Semi-Trailer –Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Efficient Transportation from End-User Industries
5.2 Market Restraints
5.2.1 High Cost of Ownership and Maintenance Costs
5.3 Market Opportunities
5.3.1 Growth in Cold Chain Industry to Offer Opportunities
5.4 Future Trends
5.4.1 Technology Advancements to Increase Operational Efficiency
5.5 Impact Analysis of Drivers and Restraints
6. Semi-Trailer Market – North America Analysis
6.1 North America Semi-Trailer Market Overview
6.2 North America Semi-Trailer Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. North America Semi-Trailer Market Analysis – By Type
7.1 Overview
7.2 Semi-Trailer Market Breakdown, by Type, 2019 & 2027
7.3 Flatbeds
7.3.1 Overview
7.3.2 Flatbeds Market Revenue and Forecast to 2027 (US$ Million)
7.4 Lowboy
7.4.1 Overview
7.4.2 Lowboy Market Revenue and Forecast to 2027 (US$ Million)
7.5 Dry Van
7.5.1 Overview
7.5.2 Dry Van Market Revenue and Forecast to 2027 (US$ Million)
7.6 Refrigerated
7.6.1 Overview
7.6.2 Refrigerated Market Revenue and Forecast to 2027 (US$ Million)
7.7 Tankers
7.7.1 Overview
7.7.2 Tankers Market Revenue and Forecast to 2027 (US$ Million)
7.8 Other Types
7.8.1 Overview
7.8.2 Other Types Market Revenue and Forecast to 2027 (US$ Million)
8. North America Semi-Trailer Market Analysis – By Number of Axles
8.1 Overview
8.2 Semi-Trailer Market Breakdown, by Number of Axles, 2019 & 2027
8.3 Less Than 3 Axles
8.3.1 Overview
8.3.2 Less Than 3 Axles Market Revenue and Forecast to 2027 (US$ Million)
8.4 3 to 4 Axles
8.4.1 Overview
8.4.2 3 to 4 Axles Market Revenue and Forecast to 2027 (US$ Million)
8.5 More Than 4 Axles
8.5.1 Overview
8.5.2 More Than 4 Axles Market Revenue and Forecast to 2027 (US$ Million)
9. North America Semi-Trailer Market Analysis – By Tonnage
9.1 Overview
9.2 Semi-Trailer Market Breakdown, by Tonnage, 2019 & 2027
9.3 Below 25 Tons
9.3.1 Overview
9.3.2 Below 25 Tons Market Revenue and Forecast to 2027 (US$ Million)
9.4 Tons to 50 Tons
9.4.1 Overview
9.4.2 Tons to 50 Tons Market Revenue and Forecast to 2027 (US$ Million)
9.5 Tons to 100 Tons
9.5.1 Overview
9.5.2 Tons to 100 Tons Market Revenue and Forecast to 2027 (US$ Million)
9.6 Above 100 Tons
9.6.1 Overview
9.6.2 Above 100 Tons Market Revenue and Forecast to 2027 (US$ Million)
10. North America Semi-Trailer Market – Country Analysis
10.1 North America: Semi-Trailer Market, By Country
10.1.1 US: Semi-Trailer Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1 US: Semi-Trailer Market, by Number of Axles
10.1.1.2 US: Semi-Trailer Market, by Type
10.1.1.3 US: Semi-Trailer Market, by Tonnage
10.1.2 Canada: Semi-Trailer Market – Revenue and Forecast to 2027 (US$ Million)
10.1.2.1 Canada: Semi-Trailer Market, by Number of Axles
10.1.2.2 Canada: Semi-Trailer Market, by Type
10.1.2.3 Canada: Semi-Trailer Market, by Tonnage
10.1.3 Mexico: Semi-Trailer Market – Revenue and Forecast to 2027 (US$ Million)
10.1.3.1 Mexico: Semi-Trailer Market, by Number of Axle
10.1.3.2 Mexico: Semi-Trailer Market, by Type
10.1.3.3 Mexico: Semi-Trailer Market, by Tonnage
11. North America Semi-Trailer Market- COVID-19 Impact Analysis
11.1 North America
12. North America Semi-Trailer Market-Industry Landscape
12.1 Overview
13. Company Profiles
13.1 Fontaine Trailer
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Great Dane LLC
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Kentucky Trailer
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 HEIL TRAILER INTERNATIONAL
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 STI HOLDINGS, INC (Stoughton Trailers)
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Trail King Industries
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Utility Trailer Manufacturing Company
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Vanguard National Trailer Corp.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Wabash National Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 East Manufacturing Corporation
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Hyundai Translead
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
13.12 Manac Inc.
13.12.1 Key Facts
13.12.2 Business Description
13.12.3 Products and Services
13.12.4 Financial Overview
13.12.5 SWOT Analysis
13.12.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Semi-Trailer Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. US: Semi-Trailer Market, By Number of Axles – Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Semi-Trailer Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Semi-Trailer Market, By Tonnage – Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: Semi-Trailer Market, By Number of Axles – Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada: Semi-Trailer Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada: Semi-Trailer Market, By Tonnage – Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico: Semi-Trailer Market, By Number of Axle – Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico: Semi-Trailer Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 10. Mexico: Semi-Trailer Market, By Tonnage – Revenue and Forecast to 2027 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Semi-Trailer Market Segmentation
Figure 2. North America Semi-Trailer Market Overview
Figure 3. Dry Van Held the Largest Market Share
Figure 4. Less Than 3 Axle Held the Largest Market Share
Figure 5. Below 25 Tons Held the Largest Market Share
Figure 6. North America- PEST Analysis
Figure 7. North America Semi-Trailer Market– Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Semi-Trailer Market Impact Analysis of Drivers and Restraints
Figure 10. North America Semi-Trailer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. Semi-Trailer Market Breakdown, by Type (2019 and 2027)
Figure 12. Flatbeds Market Revenue and Forecast to 2027 (US$ Million)
Figure 13. Lowboy Market Revenue and Forecast To 2027 (US$ Million)
Figure 14. Dry Van Market Revenue and Forecast To 2027 (US$ Million)
Figure 15. Refrigerated Market Revenue and Forecast To 2027 (US$ Million)
Figure 16. Tankers Market Revenue and Forecast To 2027 (US$ Million)
Figure 17. Other Types Market Revenue and Forecast To 2027 (US$ Million)
Figure 18. Semi-Trailer Market Breakdown, by Number of Axles (2019 and 2027)
Figure 19. Less Than 3 Axles Market Revenue and Forecast to 2027 (US$ Million)
Figure 20. 3 to 4 Axles Market Revenue and Forecast to 2027 (US$ Million)
Figure 21. More Than 4 Axles Market Revenue and Forecast to 2027 (US$ Million)
Figure 22. Semi-Trailer Market Breakdown, by Tonnage (2019 and 2027)
Figure 23. Below 25 Tons Market Revenue and Forecast to 2027 (US$ Million)
Figure 24. Tons to 50 Tons Market Revenue and Forecast To 2027 (US$ Million)
Figure 25. Tons to 100 Tons Market Revenue and Forecast To 2027 (US$ Million)
Figure 26. Above 100 Tons Market Revenue and Forecast To 2027 (US$ Million)
Figure 27. North America: Semi-Trailer Market Revenue Share, By Country (2019 and 2027)
Figure 28. US Semi-Trailer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Canada: Semi-Trailer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. Mexico: Semi-Trailer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Impact of COVID-19 Pandemic in North America Country Markets
The List of Companies - North America Semi-Trailer Market
- Hyundai Translead
- Manac Inc.
- East Manufacturing Corporation
- Fontaine Trailer
- Great Dane LLC
- HEIL TRAILER INTERNATIONAL
- Kentucky Trailer
- STI HOLDINGS, INC (Stoughton Trailers)
- Trail King Industries
- Utility Trailer Manufacturing Company
- Vanguard National Trailer Corp.
- Wabash National Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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