Shift To Lighter Trailers
Added: (Thu Dec 13 2018)
Pressbox (Press Release) -
The global truck trailer manufacturing market, a part of the transportation manufacturing industry, grew at a compound annual growth rate (CAGR) of around 7% during the historic period. The transportation manufacturing industry showed a steady growth. Urbanization has increased the demand for transportation; which has driven the truck trailer manufacturing market. Countries in the Sub-Saharan Africa, and East Asia and Pacific region witnessed the highest growth in urban population in the historic period
In the forecast period, the global truck trailer manufacturing market size is expected to be over $65 billion by 2021, growing at a CAGR of nearly 5%. This is expected due to the growing and is expected to reach about 10 billion by 2050, thereby indirectly driving the market for truck trailer manufacturing. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global truck trailer manufacturing market in the future.
Find TBRC’s report on the truck trailer manufacturing market: https://www.thebusinessresearchcompany.com/report/truck-trailer-global-market-report-2018
Trailer manufacturers are increasingly producing light-weight trailers to comply with changing regulations. The shift towards lighter trailers can be attributed to increasing pressures on trucking companies owing to rising fuel prices and stricter regulatory environment. Stricter greenhouse gas emission regulations are compelling manufacturers to use a higher percentage of lightweight components in the assembly of trailers.
Major companies in the truck trailer manufacturing market, offering lighter technology include China International Marine Containers (Group) Ltd., Schmitz Cargobull , Wabash National, Great Dane, Utility Trailer Manufacturing Company.
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