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The logistics industry is one of the leading applications of semi-trailers owing to the rising consumer preference for home delivered products as a result of inflating incomes, changing lifestyles, and the boom of online retail industry, which is stimulating the growth of the market. Semi-trailers of different kinds are used for the transportation and delivery of cargo depending on the nature of the cargo. As a result, manufacturers are increasingly investing in research and development (R&D) for the production of advanced semi-trailers. Corresponding to this, the rising focus on fuel efficiency to promote a sustainable environment amidst rising concerns regarding environmental degradation, the introduction of energy efficient vehicles such as electronic vehicles is influencing the growth of the market. Further, the implementation of stringent government regulations regarding fuel efficiency, manufacturers are further prompted to incorporate eco-friendly features. These factors are thus providing impetus to the market growth.
Tesla, Inc (NASDAQ: TSLA), a renowned company in the global market for automobiles, in April 2020 announced the expected release of electric semi-trailers to the public by 2021. Leading companies like PepsiCo and Walmart have successfully registered for the electrified semi-trailers by Tesla. In November 2021, Schmitz Cargobull, Europe’s leading manufacturer of semi-trailers, revealed its new product- S. KO PACE SMART-a fully modular dry-freight semi-trailer designed for UK and Irish operators. The new production is equipped with features like reduced costs, carbon emissions, and lead times. The lightweight structure ensures consistency of tare weight, reduce carbon emissions thereby resulting in lower fuel consumption, hence cutting costs. Such developments by leading market players are furthering the market growth of semi-trailers globally.
Market Analysis by Type, Foot Length, Tonnage, End-Use, and Region:
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The major players in the global semi-trailer market include East Manufacturing Corporation, Hyundai Translead, Inc., Schmitz Cargobull AG, Wabash National Corporation, Great Dane LLC, and Kögel Trailer GmbH & Co., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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