U.S. Semi-Trailer Dealership Industry Overview
The U.S. Semi-Trailer Dealership Market was valued at USD 8.25 billion in 2021. This market is anticipated to expand at a Compound Annual Growth Rate (CAGR) of 5.6% from 2022 to 2030. This growth is primarily propelled by the expansion of the logistics industry, alongside an increase in disposable income and growing interest in travel among individuals. The market is further boosted by a strong inclination towards the development of the automotive and manufacturing sectors. Additionally, significant improvements in road networks over the years have led to increased adoption of roadway transportation. This, in turn, has driven up the demand for semi-trailers used for transporting various goods, including construction and mining equipment, automotive and healthcare products, and chemicals.
Detailed Segmentation:
- End-use Insights
The construction & mining segment is expected to expand at a CAGR of 7.5% over the forecast period owing to the advantages associated with the semi-trailers as they have various applications. Trailers are used to carry machinery including drillers, blasting equipment, and crushing equipment from one mining site to another mining site. Low bed trailers are the most ideal choice for transporting mining equipment conveniently. Semi-low bed trailers provide stability while transporting the machinery as they have larger widths to support the base of the machinery.
- Product Insights
The refrigerator segment is expected to expand at a CAGR of 7.4% over the forecast period. The high demand for refrigerated trailers for the transportation of frozen and perishable foods, pharmaceutical drugs, and chemicals, among others, is expected to drive the growth of the U.S. semi-trailers dealership market. Additionally, increasing government investments to improve the road infrastructure, enhance inland connectivity, and boost the economy have cascading effects on the growth of the semi-trailer dealership market.
- Regional Insights
The West U.S. held the largest revenue share of over 24.58 % in 2021 owing to the presence of the e-commerce industries, developing road infrastructure, and the presence of key dealers in the area. The dealers present in the west region are focused on increasing sales by providing lucrative (discount) opportunities to the consumers. Furthermore, the flourishing e-commerce industry has created vast demand for logistic operations and vehicles in the region. Thereby, creating demand for trailers to carry goods within the states.
The southeast U.S. region will witness the highest CAGR of 7.4% during the forecast period owing to the significant increase in sales and production of semi-trailers in the region owing to an increase in the construction and manufacturing activities. Semi-trailers such as flatbeds and lowboys are ideal to carry machinery equipment and raw material such as wood and aluminum sheets. The growing traction towards interstate logistics is further driving the demand for the U.S. market
Gather more insights about the market drivers, restraints, and growth of the U.S. Semi-Trailer Dealership Market
Key Companies & Market Share Insights
The major players in the market are Great Western Leasing and Sales, Superior Trailer Sales, Crossroad Trailers Sales and Service Inc., Young Truck and Trailers among others. These companies make investments in R&D to develop innovative trailer technology. The prominent dealers in the U.S. semi-trailers dealership market are majorly focusing on marketing strategies and branding activities to boost the sales of semi-trailers. Trailer manufacturers are supporting their dealers to get in-depth knowledge of the local market, a profound study of minimum inventory required for marketing, and tools to increase semi-trailer sales in the U.S. states.
Moreover, to increase their market presence and increase revenues, these dealers use a variety of techniques, including alliances, mergers, and acquisitions. For instance, In June 2021, Royal Truck & Trailer announced the acquisition of Arista Trucking System, a truck body dealer with expertise in designing and installing commercial truck equipment. Arista Trucking System was acquired to expand Royal Truck & Trailer's geographical reach and diversify its product portfolio.
Prominent players in the U.S. semi-trailer dealership market include:
- Great Western Leasing and Sales
- Superior Trailer Sales
- Crossroad Trailers Sales and Service Inc.
- Larry's Trailer Sales & Service LLC
- Diamond T Truck & Trailer Inc.
- Northwest Truck & Trailer
- Royal Truck & Trailer Sales and Service, Inc.
- Semi-Truck and Trailer Sales
- Star Trailer Sales, Inc.
- Young truck and trailer
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