Global Flatbed Semi-Trailer Market 2019-2023
Global Flatbed Semi-Trailer Market: About this market
Technavio’s flatbed semi-trailer market analysis considers sales from steel flatbed semi-trailer, combo flatbed semi-trailer, and aluminum flatbed semi-trailers. Our analysis also considers the sales of a flatbed semi-trailer in APAC, Europe, North America, South America, and MEA. In 2018, the combo flatbed semi-trailer segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as benefits provided in terms of cost and weight will play a significant role in the combo flatbed semi-trailer segment to maintain its market position. Also, our global flatbed semi-trailer market report also looks at factors such as growing demand for semi-trailers in emerging economies, growing flatbed semi-trailer demand from trailer rental service providers, stringent regulations on emissions and fuel consumption. However, increasing cost pressure on flatbed semi-trailer manufacturers from the demand side, threats posed to market vendors by low-cost Chinese flatbed semi-trailers, implementation of ELD mandate hurting flatbed semi-trailer carriers may hamper the growth of the flatbed semi-trailer industry over the forecast period.
Global Flatbed Semi-Trailer Market: Overview
Growing demand for semi-trailers in emerging economies
The major demand for semi-trailers is expected to come from emerging economies in APAC, South America, the Middle East, and Eastern Europe during the forecast period. Increasing manufacturing and construction activities in these countries would increase the demand for transportation and logistics. The rise in manufacturing activities in these countries is backed by the robust GDP growth forecasts made for them during the forecast period. This demand for semi-trailers will lead to the expansion of the global flatbed semi-trailer market at a CAGR of almost 5% during the forecast period.
Development of all-electric semi-trailer trucks
Electric semi-trailer trucks have gained traction during the last decade, through the launch of hybrid semi-trailer trucks by prominent truck manufacturers. The growing adoption of all-electric, semi-trailer trucks will drive the adoption of combo and aluminum flatbed semi-trailers, which are lighter than steel flatbed semi-trailers. Although the upfront cost of an all-electric truck is higher than a diesel truck, they create value for the customer in terms of emission reduction and lower total cost of ownership. Growing awareness among customers about their advantages is leading to the launch of all-electric trucks in the automotive market. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global flatbed semi-trailer market during the forecast period 2019-2023, click here.
With the presence of several major players, the global flatbed semi-trailer market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading flatbed semi-trailer manufacturers, that include China International Marine Containers (Group) Ltd., Hyundai Motor Co., Schmitz Cargobull AG, Utility Trailer Manufacturing Co., and Wabash National Corp.
Also, the flatbed semi-trailer market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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