Semi-Trailer Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Vehicle Type (Lowboy, Flatbed, Refrigerated, Dry Van, and Other), By Tonnage (Below 25 T, 25 T-50 T, 51 T-100 T, and Above 100 T), By Foot Length (28-45 Foot and Greater than 45 Foot), By Regional, By Competition 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 32.21 Billion
CAGR (2026-2031)	5.69%
Fastest Growing Segment	Refrigerated
Largest Market	North America
Market Size (2031)	USD 44.89 Billion

Market Overview

The Global Semi-Trailer Market will grow from USD 32.21 Billion in 2025 to USD 44.89 Billion by 2031 at a 5.69% CAGR. A semi-trailer is a freight trailer lacking a front axle that relies on a truck tractor for support and traction. The market is primarily supported by the escalating demand for road freight transport and the continuous expansion of the logistics sector to facilitate global trade. Additionally, the rising need for cold chain solutions and ongoing infrastructure developments necessitate robust heavy transport fleets to ensure efficient supply chain operations.

One significant challenge impeding market expansion is the economic volatility that reduces capital investment in new fleet equipment. This downturn is reflected in recent industrial data regarding towing vehicles which directly impacts trailer demand. According to the European Automobile Manufacturers’ Association, in 2024, registrations of new heavy commercial vehicles in the European Union declined by 8.5 percent relative to the previous year. Such a contraction in the acquisition of prime movers directly constrains the potential growth of the dependent semi-trailer sector as operators delay procurement.

Key Market Drivers

Rapid expansion of the global e-commerce and retail logistics sectors acts as a primary catalyst for the semi-trailer market. As consumer purchasing habits shift toward online platforms, logistics providers are continually expanding their fleets to manage soaring freight volumes and ensure timely delivery. This surge necessitates a higher frequency of road transportation, directly boosting the procurement of versatile dry van trailers and parcel-specific transport units. According to the U.S. Census Bureau, November 2024, in the 'Quarterly Retail E-Commerce Sales' report, U.S. retail e-commerce sales for the third quarter of 2024 totaled an estimated $300.1 billion, reflecting the immense volume of goods requiring transport. To support this movement of goods, the overall reliance on trucking remains dominant. According to the American Trucking Associations, in 2024, total truck tonnage was projected to reach 11.27 billion tons, underscoring the essential role of semi-trailers in the broader supply chain ecosystem.

Rising demand for cold chain logistics and refrigerated transport further propels market growth, driven by stricter food safety regulations and the pharmaceutical trade. The necessity for temperature-controlled environments to transport perishable goods accelerates the adoption of advanced refrigerated trailers equipped with superior insulation and cooling technologies. This trend is particularly visible in the financial performance of leading manufacturers specializing in these units. According to Schmitz Cargobull, February 2024, in the 'Schmitz Cargobull is one of the TOP 100' press release, the company generated a turnover of approximately €2.4 billion in the 2023/24 financial year, heavily supported by its production of refrigerated vehicles. Such sustained industrial output highlights the critical need for specialized fleets to maintain the integrity of sensitive cargo across international supply networks.

Download Free Sample Report

Key Market Challenges

Economic volatility significantly restricts the growth of the Global Semi-Trailer Market by curtailing the capital investment necessary for fleet expansion and modernization. When facing uncertain financial conditions, logistics companies and freight operators typically freeze capital expenditure, delaying the purchase of new assets. This hesitation disrupts the standard replacement cycle of logistics fleets, as operators prioritize maintaining existing equipment over acquiring new semi-trailers. Consequently, manufacturers experience a direct reduction in order volumes, stalling the broader market's developmental momentum.

This trend of deferred investment is evident in the acquisition rates of essential towing equipment, which dictates the immediate need for trailing units. According to the Society of Motor Manufacturers and Traders, in 2024, the demand for articulated trucks in the United Kingdom fell by 12.4 percent compared to the prior year. Articulated trucks serve as the primary motive power for semi-trailers; therefore, a double-digit decline in their registration signals a corresponding drop in the requirement for new trailers. This contraction in the prime mover segment confirms that economic instability is directly suppressing the procurement activities essential for the semi-trailer market's expansion.

Key Market Trends

Integration of Advanced Telematics and Smart Fleet Management Systems is fundamentally reshaping fleet operations by transforming trailers from passive assets into intelligent, connected components. Operators are increasingly deploying sensors and connectivity solutions to monitor brake wear, tire pressure, and cargo status in real-time, thereby optimizing asset utilization and reducing maintenance downtime. This technological shift is driven by the necessity for granular supply chain visibility and operational efficiency to mitigate disruptions, distinct from the volume-driven demand in the retail sector. According to Descartes Systems Group, June 2024, in the '8th Annual Global Transportation Management Benchmark Survey', real-time transportation visibility was identified as the top technology investment priority, cited by 36 percent of respondents as logistics providers seek to enhance delivery performance through digital tracking.

Electrification of Trailer Axles and Regenerative Braking Technologies represents a critical evolution aimed at decarbonizing heavy transport and reducing reliance on fossil fuel-dependent prime movers. This trend involves equipping trailers with battery-electric propulsion systems that assist the tractor during acceleration and capture energy during braking, effectively creating a hybrid vehicle combination that lowers overall fuel consumption and emissions. The momentum for this technology is accelerated by stringent environmental regulations and the operational benefits of reduced fuel costs for long-haul fleets, moving beyond simple lightweighting strategies. According to Range Energy, February 2024, in the 'Range Energy Announces $23.5 Million in New Financing' press release, the company secured $23.5 million to advance the commercial production of its electric-powered trailers, highlighting the growing capital allocation toward sustainable freight hardware.

Segmental Insights

The refrigerated segment represents the fastest-growing category within the global semi-trailer market due to the intensifying demand for effective cold chain logistics. This expansion is driven by the rising consumption of frozen foods and the critical requirement for safe pharmaceutical transport. Rigid safety standards enforced by authorities like the Food and Drug Administration necessitate reliable temperature-controlled environments to prevent spoilage and ensure public health. Consequently, fleet operators are increasingly investing in these specialized trailers to maintain compliance and preserve the quality of perishable goods throughout the supply chain.

Regional Insights

North America maintains a leading position in the global semi-trailer market due to an extensive reliance on road freight for overland logistics and goods distribution. The region experiences sustained demand for dry vans and refrigerated units driven by a robust retail sector and established cold chain networks. Additionally, strict safety and efficiency standards enforced by the National Highway Traffic Safety Administration encourage frequent fleet modernization among operators. These factors, combined with a mature manufacturing base, ensure the region remains the primary contributor to global market activity.

Recent Developments

• In June 2025, Schmitz Cargobull finalized a strategic partnership with the Polish manufacturer GT Trailers following approval from regulatory authorities. This collaboration involved the German market leader acquiring a 48 percent stake in GT Trailers, effectively combining their expertise in the design and production of trailers and truck bodies. The agreement allows GT Trailers to incorporate Schmitz Cargobull’s proven components, such as proprietary axles and temperature-controlled body technology, into their vehicles. The CEO of GT Trailers remarked that this cooperation would accelerate product innovation and open new market opportunities, while granting customers access to comprehensive services including financing and vehicle telematics.
• In April 2025, Wabash announced a strategic partnership with the corporate venture lab UP.Labs to co-develop a new innovation hub and two AI-driven startups. This collaboration aims to modernize transportation manufacturing by enhancing configuration workflows and optimizing aftermarket parts distribution. One of the resulting ventures focuses on an AI-powered tool designed to streamline the specification process for made-to-order trailers, significantly reducing the time required to generate accurate quotes. The Chief Growth Officer at Wabash indicated that this initiative aligns with the company's broader strategy to drive operational efficiency and deliver long-term value through intelligent automation and predictive analytics across its supply chain.
• In March 2025, Utility Trailer Manufacturing Company LLC unveiled significant advancements in its digital offerings with the launch of the UTILITY TrailerConnect telematics platform. This new system consolidates real-time data from IoT sensors and third-party applications, providing fleet managers with a unified view of their assets. The company introduced two distinct tiers, UTC-BASIC and UTC-PRO, designed to digitize dry vans, flatbeds, and refrigerated trailers. The Director of Telematics Operations stated that this trailer-agnostic solution simplifies fleet management by integrating critical functions such as geo-location, tire pressure monitoring, and brake health analysis into a single, actionable interface for North American operators.
• In September 2024, Krone showcased a new Cool Liner trailer equipped with ZF’s "Electrified Trailer System" at the IAA Transportation event in Hanover. This collaboration with ZF Friedrichshafen AG introduced technology that allows semi-trailers towed by diesel trucks to function as hybrids, thereby reducing fuel consumption and carbon emissions. The system integrates an electric axle drive and a battery unit, which can also power auxiliary refrigeration equipment. The Managing Director for Product Management at Krone noted that this innovation supports the transport sector's transition toward electrification, extending the range of battery-electric trucks and recuperating energy to minimize brake wear.

Key Market Players

• East Manufacturing Corporation
• Hyundai Translead
• Kentucky Trailer
• Mac Trailer Manufacturing Inc.
• Manac Inc.
• Wabash National Corporation
• Great Dane LLC
• Pitts Trailers
• Premier Trailer Mfg. Inc.
• Schmitz Cargobull AG

By Vehicle Type	By Tonnage	By Foot Length	By Region
Lowboy Flatbed Refrigerated Dry Van Other	Below 25 T 25 T-50 T 51 T-100 T Above 100 T	28-45 Foot and Greater than 45 Foot	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Semi-Trailer Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Semi-Trailer Market, By Vehicle Type:

• Lowboy
• Flatbed
• Refrigerated
• Dry Van
• Other

• Semi-Trailer Market, By Tonnage:

• Below 25 T
• 25 T-50 T
• 51 T-100 T
• Above 100 T

• Semi-Trailer Market, By Foot Length:

• 28-45 Foot and Greater than 45 Foot

• Semi-Trailer Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE