Modular Trailer Market is forecast to emerge with strong growth at a CAGR of 4.43% during 2020-2026 and segmented into Type, Number of Axis, Application, Region
SOUTHLAKE, TX, UNITED STATES, November 5, 2019 /EINPresswire.com/ — Modular Trailer Market growth is set to enter the growth phase at 4.43% CAGR through 2026 driven by rising demand of modular trailer equipment across emerging transportation sector along with ongoing urbanization, and industrialization, finds research analyst Amulya R, OG Analysis.
The growing demand for the self-propelled modular trailer to provide prospects for manufacturers is increasing at a rapid pace. Furthermore, rising demand for resource exploration and mining activities in developing countries to boost the market size during 202-2026.
Key modular trailer market manufacturers are intensely involved in innovation of new products and technologies to meet the requirements of wind & energy sector.
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With the potential to deliver maximum agility, good stability, and maneuverability, the Multi-axle trailer led the major portion of the modular trailer market share, by type. In addition, large consumption is observed across key end-user industries to meet the requirements of heavy payload transportation by road.
Further, rising demand for freight transportation with 2-axle line trailers as well as 2-axle line trailers in a wide range of size and weight carrying capacities thrust the modular trailer market growth. The strong emergence of modern supply chain and logistics across emerging and emerged regions set to have higher number of 2-axle line trailers through 2026.
Although there are many prospects in the modular trailer market, challenges such as stringent government regulations and shortage of qualified drivers pose hindrance to the modular trailer market growth.
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By market application, construction & infrastructure emerge with strong market share during the forecast period
The Constructional & infrastructure sector led the application segment driven by increasing demand for transportation of construction machinery, large bridge segments, large girders, and concrete beans.
Moreover, expenditure on capital-intensive projects to grow significantly in coming years thereby drives the need for transportation of constructing equipment and materials.
Asia Pacific emerges with strong modular trailer market share from 2020 to 2026
The growing construction industry, rise in overall industrial production along with demand for high freight transportation augments the modular trailer market demand across Asia Pacific during the forecast period. Furthermore, Asia Pacific is also the prominent market for multi-axle trailers with China, India, and Japan to lead the modular trailer market growth.
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Whereas, North America is estimated to precede modular trailers market growth driven by rising demand for commodities and intense investments in the mining industry. Furthermore, growth in the overall industrial production led to increased freight transportation fuelling the modular trailer market value.
Investments in novel products and strategic contracts is observed across market participants during the forecast period
Key manufacturers focusing to develop new products to explore modular trailer market growth opportunities. For instance, in 2019, TII India launched a new Tiiger SD modular transporter. Further, in 2019, Faymonville introduced a new VarioMAX Plus low bed trailer, in the same year AT Special Transport added a series of CombiMAX modular trailer manufactured by Faymonville.
In addition, Faymonville Group launched a blade lifter with the name BladeMAX to transport mega wind turbine blades safely and efficiently in wooded or built-up areas, narrow streets, or mountainous regions.
Furthermore, key participants are entering contracts to serve customers with customized transportation services. Accordingly, the TII Group and Vestas signed a contract in 2019 for the development of tailor-made trailers for the transport of wind blades in a flexible and cost-efficient way.
Prominent market players including Anster, Demarko Trailers, Doll Fahrzeugbau AG, Faymonville Group, Goldhofer, K-Line Trailers, Nooteboom Trailers, TII Group, Tratec Engineers, and VMT Industries among others are operating in the modular trailer market.
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Source: EIN Presswire