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Modular Trailer Market Outlook 2030 -
Modular trailer is unpowered vehicle towed by a powered vehicle with the help of a hitch. The trailer consists of a series of special vehicles used in various industries for transportation of heavy and large cargos. The trailers are used in power stations, iron & steel, chemical, mining, and construction industries. Due to their lateral stability the trailers are used for mining. The trailers are controlled using computer software to create an axel line. According, to the industry requirements the trailer comes in two, three, four, five, and above axle models. The rise in infrastructure activities in developing countries act as an important growth driver for modular trailer. Thus, modular trailer market is expected to grow in energy, power, and construction industries. Also, rise in mining industries and changing use of wind energy to install more power generating equipment is predicted to enhance the market growth. The two-axle trailer have the highest demand and are available in wide range of sizes and weight carrying capacities, it is highly used for transportation of large equipment. Modular trailer is also used for transporting large bridge segments, concrete beans, construction machinery, house movement, etc. This rise in infrastructure activities is expected to drive growth of the modular trailer market.
COVID-19 Impact Analysis:
Due to COVID-19 pandemic the government in all the countries-imposed lockdown and various other restrictions. Therefore, all the construction and mining activities were halted during the lockdown. Thus, the demand for transportation of goods and equipment was also disrupted. Since, the pandemic the economy of major countries fell down thus, a number of construction projects were stopped for an extended period of time. Also, due to travel restrictions goods were not able to be transported thus a lot of projects got delayed. Moreover, due to pandemic and lockdown there was unavailability of skilled labour for handling the trailers and drivers for truck has affected the market. Furthermore, the supply chain and production process of trailer has been slowed down for various industries. Modular trailer is an evolving sector, but its growth has been affected due to the pandemic.
Top Impacting Factors
Market Trends
Rise in heavy engineering, construction & mining
Heavy engineering is estimated to be fast growing segment for modular trailer market. Large number of heavy engineering equipment such as steam generators, boilers, and others are transported via modular trailers. Also, trailer can transport already built sections to places where it is to be installed and shift equipment. For instance, in July 2019, TII SALES Transporter Industry International Sales GmbH & Co. KG, launched new Tiiger Smart Duty which is modular trailer having a capacity to lift loads to 240 tonnes on public road and industrial region. The trailer has 53-degree steering angle and hydraulic pendulum axle which make it lighter and resilient. It can carry construction machinery, concrete grinders, and others. The rise in construction and industrial activities is expected to drive growth of modular trailer market
High maintenance cost
The modular trailers are very costly and different trailer assembly is required for different purpose thus the investment cost it quite high. Also, the maintenance cost incurred for the trailers is very high. On an average, the productive life of a new trailer is about 15 years, if maintained appropriately. The cost of air ride suspension used in modular trailer is higher than conventional trailers. The maintenance cost increases when the suspension is used for three years and after. Thus, the high-cost act as a barrier for market growth.
Key Benefits of the Report:
Questions answered in the modular trailer market research report:
Key Market Segments
Key Market Players