According to a report by Stratistics MRC, the semi-trailer market size can be expected to grow to approximately $41.2 billion by 2026. Since the global population may reach 8.26 billion in 2026, demand for consumer goods is rising. Semi-trailers are a popular option for transporting those goods due to their cost-effectiveness.
High capacity for cargo combined with increasing road connectivity are also expanding the semi-trailer market. In the United States, planned investment in roadways will make trailers an economic option for commercial transport. Developing countries are catching up by improving their infrastructure. Even so, North America was responsible for 30% of the market’s total revenue in 2017. The 2017 market size was about $24.23.
“Even with the advent of new technology, semitrailers continue to be the primary means of moving goods around the U.S. and the rest of the world. ILoca is proud to partner with its customers and vendors to help keep America moving.-Ann Gerardi, ILoca Services Sales Manager
Many of the key players in the semi-trailer market mentioned in the report are partners of ILoca Services. This includes China International Marine Containers (Group) Ltd., Dorsey Trailer, Fontaine Commercial Trailer, Inc., and Manac, Inc. These manufacturers, as well as ILoca’s other partners, are the vanguard of the trailer industry and will continue to be leaders in the market as it expands. Their products, for sale or rent, are available on ILoca’s website.
Why the growth in the semi trailer market?
Firstly, the end-use industries for semi-trailers are growing larger every day. One such industry is food and beverage. Demand for pre-packaged foods is rising globally and semi-trailers are the vehicles of choice for food and beverage cargo. This is expected to push market growth forward.
In addition, the ballooning population has expanded the agriculture and manufacturing sectors, which in turn require commercial transportation for their goods. Industrial growth in developing countries has also created opportunities within the semi-trailer market.
In short, semi-trailers are the future of transportation. Better roads and more demand make them both cost-effective and necessary. Allow ILoca Services to be Your Partner for the Long Haul ® as you become a part of this global industry.