The North America semi-trailer market size was valued at $13,063.7 million in 2023, and is projected to reach $20,833.3 million by 2033, growing at a CAGR of 5.1% from 2024 to 2033.
Semi-trailers are non-motorized vehicles designed to be towed by heavy-duty trucks or tractors, primarily used for transporting goods and materials across various industries. The market includes a diverse array of trailer types tailored to specific transportation needs, such as dry vans, reefers, flatbeds, tankers, lowboys, and specialized trailers like automobile carriers and livestock trailers.
Rise in e-commerce in North America has increased the demand for efficient transportation of goods from distribution centers to consumers, with dry vans playing a crucial role in securely transporting a diverse array of products such as electronics, clothing, and household goods. Dry vans provide protection from environmental elements and theft, making them indispensable in this sector. Furthermore, advancements in logistics and supply chain management have further bolstered demand for dry vans across a wide range of industries, including retail, manufacturing, and food distribution.
Key Takeaways
- On the basis of type, the dry van segment held the largest share in the North America semi-trailer industry in 2023.
- On the basis of foot length, the greater than 45 foot segment held the largest share in the North America semi-trailer market in 2023.
- By tonnage, the 25 T To 50 T segment held the largest share in the market in 2023.
- By number of axles, the 3 to 4 axles segment held the largest share in the market in 2023.
- By channel, the dealer segment held the largest share in the market in 2023.
- On the basis of end-use industry, the food and beverage segment held the largest North America semi-trailer market share in 2023.
- By country, U.S. held the largest share in the market in 2023.
The North America semi-trailer market is experiencing growth driven by the introduction of 60-foot trailers, a departure from the traditional 53-foot standard. This shift towards longer trailers is motivated by the industry's pursuit of enhanced efficiency and greater capacity. As compared to the 53-foot trailers, the 60-foot variant offers increased cargo space, enabling shippers to transport more goods on fewer trips. The expanded capacity of 60-foot trailers allows for transporting more goods per trip, benefiting sectors handling lightweight, high-volume cargo like e-commerce and consumer goods.
For instance, in December 2023, Ontario Trucking Association finalized its position on the Ministry of Transportation's (MTO) proposed 60-foot trailer permit program, also referred to as extended semi-trailers. The MTO's comprehensive proposal aims to regulate these trailers under a controlled permit environment and a special vehicle configuration regime (SVC), with ongoing consultations aimed at refining the program. Such initiatives have the potential to significantly reshape the semi-trailer industry in the years ahead.
Factors such as the expansion of e-commerce distribution networks, increased use of multiple transportation modes, and technological advancements supplement the North America semi-trailer market growth. However, high initial costs of semi-trailer and strict regulations of emissions and safety regulations are expected to hamper the growth of the North America semi-trailer market. In addition, surge in investment in green technologies and sustainable practices and introduction of smart trailers with integration of IoT and telematics offer market opportunities for key players operating in the North America semi-trailer market.
E-commerce distribution channels are growing quickly, helping the semi-trailer market in North America by increasing the demand for transportation solutions to handle the higher volume of goods being shipped. The popularity of online shopping has raised the need for dependable and effective delivery methods. Businesses including Amazon, Walmart, and other large retailers are growing their distribution networks to satisfy customers' demands for precise and quick delivery.
The North America semi-trailer market is segmented by type, foot length, tonnage, number of axle, and end-use industry. By type, the market includes flatbed, lowboy, dry van, refrigerated, tankers, and others. By foot length, it is classified into 28 to 45 foot and greater than 45 foot. By tonnage, it is divided into below 25 T, 25 T to 50 T, 51 T to 100 T, and above 100 T. By number of axle, it is divided into less than 3 axles, 3 to 4 axles, and more than 4 axles. By end-use industry, the market is divided into heavy industry, construction, medical, food and beverage, oil and gas, textile industry, and others.
Some leading companies profiled in the report comprise China International Marine Containers (Group) Co., Ltd. (CIMC), Fontaine Trailer, Great Dane A Division of Great Dane LLC, Hyundai Translead, KRONE Trailer, MAC Trailer, STI Holdings, Inc, Timpte Inc., Utility Trailer Manufacturing Company, LLC., and Wabash National Corporation.
Segment Review
The North America semi-trailer market is segmented by type, foot length, tonnage, number of axle, and end-use industry. By type, the market includes flatbed, lowboy, dry van, refrigerated, tankers, and others. By foot length, it is classified into 28 to 45 foot and greater than 45 foot. By tonnage, it is divided into below 25 T, 25 T to 50 T, 51 T to 100 T, and above 100 T. By number of axle, it is divided into less than 3 axles, 3 to 4 axles, and more than 4 axles. By end-use industry, the market is divided into heavy industry, construction, medical, food and beverage, oil and gas, textile industry, and others.
By Type
On the basis of type, the dry van segment generated maximum revenue in 2023, as Dry vans are crucial in this sector for their ability to securely transport a wide range of products, including electronics, clothing, and household goods, protecting them from environmental elements and theft. In addition, advancements in logistics and supply chain management have led to increased demand for dry vans across various industries, including retail, manufacturing, and food distribution.
By Type
Refrigerated is projected as the most lucrative segment.
By Foot Length
On the basis of foot length, the greater than 45 foot segment generated maximum revenue in 2023, owing to expanding construction industry, which demands the transportation of heavy machinery, building materials, and prefabricated structures. Rise in infrastructure projects and urbanization has led to increased utilization of these larger semi-trailers.
By Foot Length
Greater Than 45 Foot is projected as the most lucrative segment.
By Tonnage
On the basis of tonnage, the 25 T To 50 T segment generated maximum revenue in 2023. The growth of the 25T to 50T segment is influenced by the robust demand in several key industries. The manufacturing sector, driven by increased production and industrial activities, requires reliable transportation solutions for raw materials and finished goods. Also, the agricultural industry's need to transport large quantities of produce and livestock over medium to long distances support the demand for these semi-trailers.
By Tonnage
51 T To 100 T is projected as the most lucrative segment.
By Number Of Axles
On the basis of number of axles, the 3 to 4 axles segment generated maximum revenue in 2023, owing to the robust demand in various industries that require reliable transportation solutions for medium to heavy loads. The construction industry, driven by infrastructure development and urbanization projects, relies heavily on these trailers for the movement of construction materials and equipment. Similarly, the manufacturing sector's need to transport industrial goods and machinery supports the demand for trailers with higher load capacities.
By End-Use Industry
On the basis of end-use industry, the food and beverage segment generated maximum revenue in 2023, owing to rise in consumer demand for fresh and convenient food products. The rise of e-commerce and online grocery shopping has further boosted the need for efficient and reliable cold chain logistics. In addition, regulatory requirements for the transportation of perishable goods are becoming more stringent, necessitating the use of specialized trailers that can ensure compliance with these standards.
By Country
By country, U.S. generated maximum revenue in 2023. Technological innovations are significantly shaping the semi-trailer market in U.S. The integration of advanced telematics, IoT (Internet of Things), and GPS tracking systems enhances real-time monitoring, route optimization, and overall fleet management. Predictive maintenance powered by data analytics helps in reducing downtime and extending the lifespan of trailers.
Competitive Analysis
The key players profiled in the North America semi-trailer market include China International Marine Containers (Group) Co., Ltd. (CIMC), Fontaine Trailer, Great Dane A Division of Great Dane LLC, Hyundai Translead, KRONE Trailer, MAC Trailer, STI Holdings, Inc, Timpte Inc., Utility Trailer Manufacturing Company, LLC., and Wabash National Corporation.
The expansion of e-commerce distribution networks
The North America semi-trailer market size is increasing significantly owing to rapid growth and expansion of e-commerce distribution channels. With the rise in online shopping, there is increase in demand for efficient and reliable delivery systems. Companies such as Amazon, Walmart, and other major retailers are continuously expanding their distribution networks to meet consumer expectations for fast and accurate delivery.
For instance, in May 2024, Amazon introduced a fleet of 50 battery-electric heavy-duty trucks in California, asserting it as the major deployment of such vehicles in the U.S. These trucks will be utilized in the initial stage of logistics, transporting goods from container ships at the ports to fulfillment centers, and in the intermediary stage, moving packages between fulfillment centers and delivery centers. Also, packages are expected to be distributed by Amazon's last-mile fleet, which includes electric delivery vans manufactured by Rivian. Heavy-duty trucks are produced by Volvo VNR, a division of the Swedish automaker specializing in Class 8 tractor trailers.
To accommodate the growth of e-commerce, more semi-trailers are required to transport goods from warehouses to various distribution points and final delivery locations. Semi-trailers, particularly dry vans and refrigerated trailers, are essential in this logistics chain as they offer the flexibility and capacity needed to handle large volumes of diverse products. For example, during peak shopping seasons such as Black Friday and Cyber Monday, the need for additional semi-trailers increases to handle the surge in online orders. Thus, expansion of e-commerce coupled with increase in demand for semi-trailers for logistics, further fuels the market growth.
Increase in use of multiple transportation modes
Rise in use of multiple transportation modes, also known as intermodal transportation, is a key driver for the growth of the North America semi-trailer market. Intermodal transportation involves the use of more than one mode of transportation such as trucks, trains, and ships to move goods efficiently over long distances. This approach is particularly advantageous in optimizing logistics operations, reducing costs, and improving delivery times.
Rise in focus on sustainability and reducing carbon emissions also drives the adoption of intermodal transportation. By integrating rail and ship transport, which are generally more fuel-efficient for long hauls, with the versatility of semi-trailers for short distances, companies can achieve a more environmentally friendly logistics network. For instance, in January 2024, Bison Transport announced a partnership with Canadian Pacific Kansas City (CPKC) to offer international intermodal services, aiming to provide greater transportation flexibility for customers. This collaboration addresses the growing demand from global shippers for diverse routing options. The partnership is expected to leverage CPKC's north-south rail corridor, which links Canada, the U.S., and Mexico, along with Bison Transport's fleet of 3,000 tractors and 10,000 trailers. CPKC operates 17 intermodal facilities across North America.
Semi-trailers play a vital role in this intermodal system. They are designed to be easily transferred between different modes of transportation without unloading the cargo, ensuring a seamless transition from one mode to another.
For instance, a semi-trailer can be loaded onto a flatcar for rail transport over long distances, then transferred to a truck for final delivery. This flexibility makes semi-trailers indispensable in intermodal transportation. Thus, the North America semi-trailer market is driven by the adoption of semi-trailers, intermodal transportation, and sustainability efforts, enhancing efficiency, reducing costs, and improving delivery times.
Technological advancements
The semi-trailer industry in North America is experiencing a significant boost due to technological innovations. New technologies are making trailers smarter, more efficient, and safer as compared to traditional trailers. For example, the integration of telematics systems allows fleet managers to track their trailers in real-time, monitor cargo conditions, and optimize routes. This not only improves operational efficiency but also enhances security and reduces theft risks.
Moreover, the introduction of 60-foot trailers is driving the growth of the North America semi-trailer market. The industry standard has traditionally been 53-foot trailers. However, the push for greater efficiency and capacity is driving interest in longer trailers. The 60-foot trailer offers more cargo space as compared to its 53-foot counterpart, allowing shippers to move more goods on fewer trips. This increased capacity is particularly attractive for industries dealing with lightweight, high-volume cargo, such as e-commerce and consumer goods.
For instance, in December 2023, the Ontario Trucking Association finalized its stance on the Ministry of Transportation's (MTO) proposed 60-foot trailer permit program, also known as extended semi-trailers. The MTO's detailed proposal aims to regulate 60-foot trailers within a tightly controlled permit environment and special vehicle configuration regime (SVC), with ongoing consultations to refine the program. Such programs have the potential to significantly reshape the semi-trailer industry in the coming years.
High initial costs of semi-trailer
The semi-trailer market in North America faces a significant challenge in the form of high initial costs. Purchasing a new semi-trailer represents a substantial investment for trucking companies and independent operators. These costs range approximately from $30,000 for a basic dry van to over $100,000 for specialized trailers such as refrigerated units or tankers. For small and medium-sized businesses, this large upfront expense can be a major hurdle, often requiring financing or leasing arrangements. For instance, a fleet operator looking to expand is expected to find it challenging to allocate funds for a new set of semi-trailers due to the large capital outlay required. This financial burden can deter smaller businesses from entering the market or expanding their operations, limiting overall market growth.
Surge in investment in green technologies and sustainable practices
One significant North America semi-trailer market opportunity lies in the investment in green technologies and sustainable practices. As environmental concerns grow and regulations become stricter, there is rise in demand for eco-friendly transportation solutions. Manufacturers and fleet operators can capitalize on this trend by developing and adopting trailers that reduce carbon footprints and promote sustainability. Therefore, the North America semi-trailer market share has seen a steady increase over the past few years.
For instance, in June 2024, Nikola announced the delivery of a hydrogen fuel cell-powered electric semi-truck to Walmart Canada, marking Walmart as the first major retailer in the country to incorporate this technology into its fleet. In June 2022, Walmart disclosed plans to expand transportation trials with manufacturers of electric, hydrogen, and natural gas-powered vehicles. This initiative is part of Walmart's broader goal to achieve zero emissions across its global operations by 2040, which includes its sizable fleet comprising approximately 10,000 tractors and 80,000 trailers. Such initiatives further increase the demand for semi-trailers, which in turn propel the growth of the market.
Recent Developments in the North America semi-trailer Industry
In March 2022, ORBCOMM Inc., a global IoT solutions provider, announced significant enhancements to its data-driven truck telematics solution aimed at improving visibility, efficiency, safety, and overall customer experience for fleets and drivers. The unveiling took place at a press conference during the American Trucking Association’s (ATA) Technology and Maintenance Council (TMC) Annual Meeting. ORBCOMM's advanced truck management solution offers comprehensive insights from the front to the rear of vehicles, empowering fleets with deep data analytics to optimize their operations and achieve better business outcomes. One of the notable new features introduced is the Cargo Camera sensor, expanding ORBCOMM's range of camera and video intelligence solutions.
In April 2024, Fontaine Trailer introduced Magnitude 75 trailer. This 3+3+2 modular multi-purpose trailer is designed and crafted to efficiently transport a diverse range of loads. The trailer offered in three distinct deck options: flat (MFLD), drop side rail (MDSR), and beam (MBMD). Furthermore, it carries up to 70 tons load in 12 feet trailer connected with tandem axle EQ2 spreader system.
In August 2023, Fontaine Trailer launched Magnitude 65 trailer. It is 3+2 modular multi-purpose trailer designed and built to efficiently transport a wide array of loads with its three deck options: flat (MFLD), drop side rail (MDSR), and beam (MBMD). It carries up to 65 tons in 16 feet as a 3+2 or can be configured with five close coupled axles to transport up to 70 tons in 12 feet.
In September 2021, HYUNDAI TRANSLEAD launched open-platform smart trailer solution that is fully integrated with leading telematics partners (CalAmp, ORBCOMM, Phillips Connect, PowerFleet, Road Ready, Sensata | Xirgo, SkyBitz, Spireon). Hyundai Translead designed this solution to allow flexibility for those seeking to add additional sensor data to their overall fleet data strategy.
In January 2021, HYUNDAI TRANSLEAD developed designs for dry and refrigerated van trailer models, featuring significant weight reductions and greater durability. In addition, it introduced a new, lightweight polymer fiber core composite panel to the trailer industry. This lightweight polymer fiber panel helps to reduce the overall weight of the trailer i.e., up to 330 lbs. per trailer.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the North America semi-trailer market analysis from 2022 to 2032 to identify the prevailing North America semi-trailer market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the North America semi-trailer market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as North America semi-trailer market trends, key players, market segments, application areas, and market growth strategies.
North America Semi-Trailer Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Foot Length |
|
 By Tonnage |
|
 By Number Of Axles |
|
 By End-use Industry |
|
 By Country |
|
 Key Market Players | MAC Trailer, Fontaine Trailer, Timpte Inc., KRONE Trailer, Hyundai Translead, Utility Trailer Manufacturing Company, LLC, Great Dane A Division of Great Dane LLC, China International Marine Containers (Group) Co., Ltd. (CIMC), Wabash National Corporation, STI Holdings, Inc |
Analyst Review
The North America semi-trailer market size was valued at $13,063.7 million in 2023, and is projected to reach $20,833.3 million by 2033, growing at a CAGR of 5.1% from 2024 to 2033.
The key players profiled in the North America semi-trailer market include China International Marine Containers (Group) Co., Ltd. (CIMC), Fontaine Trailer, Great Dane A Division of Great Dane LLC, Hyundai Translead, KRONE Trailer, MAC Trailer, STI Holdings, Inc, Timpte Inc., Utility Trailer Manufacturing Company, LLC., and Wabash National Corporation.
The leading type of North America semi-trailer market market is dry van
The leading end-use industry of North America semi-trailer market market is food and beverage
The upcoming trends of North America semi-trailer market market in the world aresurge in investment in green technologies and sustainable practices and introduction of smart trailers with integration of IoT and telematics.
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