The growth of the automotive trailers market can also be highly attributed to the reduction in cost in terms of extra carriage capacity of the automotive trailers, fuel consumption & emission, and their environment-friendly nature.
New York, NY -- (SBWIRE) -- 06/18/2019 -- The automotive trailer market was valued at $21,895.0 million in 2016, and 2023 is likely to reach $28,538.5 million, with a CAGR of 3.8% from 2017 to 2023. Automotive trailers are unpowered vehicles which are used to transport goods and commodities, these trailers are dragged by powered vehicles. The industrial growth in the emerging economies and rise in manufacturing activities has a positive impact on the demand for automotive trailers.
The report aims at providing detailed information and an in depth analysis regarding the major factors driving the industrial automotive trailer. The report also elucidates the strategic and detailed analysis of individual components such as ongoing trends, future anticipation, regional surveys, and forecast for the years 2017–2030 while also highlighting the leading competitors in the industry.
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Drivers and challenges
The growth of the automotive trailers market can also be highly attributed to the reduction in cost in terms of extra carriage capacity of the automotive trailers, fuel consumption & emission, and their environment-friendly nature. Furthermore, regardless of their size the trailers have a substantial cargo carrying capacity and the increase in size allows for increased space utilization. The reduced resale value and the high maintenance cost are likely to restrain the growth of the automotive market.
On the other hand, however, the development of the transportation and logistics industry is expected to provide lucrative growth opportunities for the market.
This report underlines the various segments in the global automotive trailers market as trailer type, vehicle type, axle type and region.
Based on the trailer type
Based on the trailer type, this market is further differentiated into flatbed, tripper, dry van, box trailer, refrigerated trailer, and others.
On the basis of vehicle type
On the basis of vehicle type the market is further segmented into, passenger bike, commercial vehicle and two-wheeler bike. The two- wheeler bike segment is expected to display a significant growth in the market share while also maintaining its dominance in the market.
On the basis of axle type
The axle type segment is further segmented into single axle, tandem axle and multiple axle or three or more axle. The multiple axle sub-segment is likely to display a significant growth in the global market.
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The extensive documentation of the automotive trailer industry gives access to all the factors expected to influence the growth prospect of the business worldwide. Nobel effort to capture the factors that impede the growth of the market is clearly visible in the report. These factors result in an effective and reliable branding and promotion and marketing plan. In addition, comprehensive coverage of recent advancements, product nearing development stage, project pipeline, and major industrial players offer all the confidence a business owner needs to design a business strategy that will drive company's success.
Understanding what the audience is looking for in a report the researchers behind this attunes deliverables according to their needs such as product price, demand and supply status, end-use, profit and others. By operating in close alignment with the major vendors, the researchers have customized the literature – based on universal perspective as well as comprehensive knowledge of the local business owners. The document further aims at addressing the different challenges and opportunities of carrying out business operations in North America and beyond.
The global automotive market on the basis of region is segmented into North America, Europe, Asia-Pacific, and LAMEA. Countries such as Russia and China as well as regions such as Latin America have a high demand for heavy-duty trailers.
The report has identified the key participants in the global automotive trailers market as being Beckmann Fahrzeugwerke GmbH, China International Marine Containers Co., Ltd, Utility Trailer Manufacturing Company, Schmitz Cargobull Aktiengesellschaft, Wabash National Corporation, Humbaur GmbH, Great Dan, Ifor Williams Trailers Ltd., Dennison Trailers Ltd. ,Hyundai Motor Group and others.
The Research Provides Answers to the Following Key Questions:
1) What is the size of occupied by the prominent leaders for the forecast period, 2019 to 2023? What will be the share and the growth rate of the automotive trailer Market during the forecast period?
2) Which companies are dominating the competitive landscape across different region and what strategies have they applied to gain a competitive edge?
3) What are the major factors responsible for the growth of the automotive trailer market across the different regions?
4) What are the challenges faced by the companies operating in the automotive trailer Market?
5) What are the future prospects for the automotive trailer Market industry in the coming years?
6) Which trends are likely to contribute to the development rate of the automotive trailer industry during the forecast period, 2019 to 2023?
7) What are the future prospects of the automotive trailer industry for the forecast period, 2019 to 2023?
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