The global automotive trailer market revenue was US$ 20,877 million in 2021. The global automotive trailer market revenue is forecast to reach US$ 29,793.5 million by 2030, growing at a compound annual growth rate (CAGR) of 3.6% during the forecast period from 2022 to 2030.
An automobile trailer is an unpowered vehicle that is towed by a powered vehicle using a hitch. In addition, these trailers transport commodities and goods. Cargo companies mostly use them to transport their goods across national borders and internationally. In addition, people sometimes use them for recreational activities, such as carrying luggage, fishing boats, or as mobile homes with limited amenities.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The spread of the COVID-19 pandemic has negatively impacted the global automotive trailer market because of commute restrictions and the weak financial performance of the market players. There is evidence that the pandemic has had an economic impact, with organizations preparing strategic cost-saving plans. In order to improve cash flow, organizations with vehicle assets were considering leasing and selling their assets. Risk factors for automotive trailer companies during the COVID-19 were supply chain execution, regulatory & policy changes, labor dependency, managing working capital, and managing liquidity & solvency. As a result, most of the players operating in the automotive trailer market were financially affected by the outbreak. For instance, Schmitz Cargobull, a prominent semi-trailer manufacturer in Europe, saw a decrease of 27.4% for units produced in 2019-2020. However, some market players have also reported an increase in sales in 2020. As an example, a Chinese trailer manufacturer saw an 11% increase in unit sales in 2020.
Regional Insights
Region-wise, Asia Pacific held dominance in the global automotive trailers market in 2020 and is forecast to remain dominant during the forecast period. Rapid road construction is attributable to the high growth of this region. Moreover, the growing number of regional treaties that encourage cargo transportation will provide lucrative opportunities for the key players in the automotive trailer industry. Another major factor driving the market growth across the Asia Pacific is the increasing use of heavy commercial vehicles.
Leading Competitors
The leading prominent companies profiled in the global automotive trailers market are:
Scope of the Report
The global automotive trailers market segmentation focuses on Vehicle Type, Trailer Type, Axle Type, and Region.
Segmentation based on Vehicle Type
Segmentation based on Axle Type
Segmentation based on Trailer Type
Segmentation based on Region
