Global Tractors and Trailers Market to Grow with a CAGR of 6.21% through 2031F
The industry is witnessing a significant shift toward electrification, with manufacturers increasingly developing and deploying battery-electric tractors and e-trailers that provide auxiliary propulsion to reduce emissions and fuel consumption.
According to TechSci Research
report, “Global Tractors and Trailers Market By Trailer Type (Open trailers, Flatbed Trailer, Lowboy Trailers, Others), By Application (Industrial, Agriculture, Others), By Horsepower (Below 40 HP, 40-100 HP, Above 100 HP), By Region, Forecast & Opportunities, 2021-2031F’, The Global Tractors and Trailers Market will grow from USD 150.04 Billion in 2025 to USD 215.38 Billion by 2031 at a 6.21% CAGR. As
the infrastructure development increases the demand for truck trailer also
increases as these are mainly used for transportation, construction and mining
sectors.
Moreover, the increasing application of tractors in the agricultural
sector will fuel the growth of the Global Tractors and Trailers market during
forecast period. Additionally,
the growing sales of two-wheeler and four-wheelers globally, is likely to
propel the need for truck trailers for transportation of the vehicles over long
distance and will continue to drive the global truck and trailer market by 2023. The growing
penetration of the cold chain industry that requires refrigerated trucks to
enable transportation of food items at the desired temperatures is anticipated
to drive the growth of the market during the forecast period.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "
Global Tractors and Trailers Market "
Based on the trailer type, the Dry van segment holds the largest share
in the Global Tractors and Trailers market and is anticipated to grow with the
highest CAGR during the forecast period, owing to its wide applications across
various end-use industries such agriculture, construction, automotive etc. Dry
Vans are widely used by Less Than Truckload (LTL) and FTL (Full Truckload)
operators due to their versatility and cost efficiency.
Mahindra and Mahindra, Daimler AG, Tata Motors, Mercedes-Benz,
Ashok Leyland, Ford etc, are major companies operating in Tractors and Trailers, globally.
Download Sample Report
Customers can also request for 10% free
customization on this report.
Asia-Pacific lead the Tractors and Trailers market in
2016 owing to the widespread adoption of Tractors and Trailers across various
end-use industries like agriculture, automotive, construction and mining etc. The
market in APAC is projected to grow at the highest rate between 2017 to 2022 on
the back of increasing regional transport, growing advancements in design and
demand for good trailers to ensure the safety of products that are transported
in in constituent regions like China and India.
“The expanding cold chain industry is expected to have a positive impact
on the growth of Trucks and Trailers Market due to increased demand for
Refrigerated Trailers that allow food to be transported at the required
temperatures. Moreover, the growing need to ensure safety of transported goods
and items while transporting regionally is expected to boost Tractors and Trailers market through 2031F.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Tractors and Trailers Market By Trailer Type (Open trailers, Flatbed Trailer, Lowboy Trailers, Others), By Application (Industrial, Agriculture, Others), By Horsepower (Below 40 HP, 40-100 HP, Above 100 HP), By Region, Forecast & Opportunities, 2021-2031F’’
has evaluated the future growth potential of Global Tractors and Trailers market
and provides statistics and information on market size, structure and future market
growth. The report offers decision makers superior market intelligence, thereby
enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market
inclinations along with indispensable drivers, challenges and opportunities in Global
Tractors and Trailers Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]