The market for cargo trailers is expanding primarily as a result of developments in trailer technology, rising rental demand, and rising demand for cargo trailers in leisure activities. Additionally, the chance to lead the market has been provided by the rise in disposable income combined with rising urbanization. Additionally, the demand for cargo trailers has increased as a result of the numerous nations' expanding e-commerce sectors, which must ensure efficient delivery of items from sellers to clients.
The market for cargo trailers is necessary because it facilitates the efficient transportation of commodities. For small and large businesses that need an effective delivery system, this is advantageous. Additionally, the ease of modification, lightweight, and secure storage offered by cargo trailers make these trailers more advantageous for the transfer of goods. Furthermore, as companies seek out more effective and economical transportation methods as well as safer storage, the market for cargo trailers is always expanding.
A cargo trailer is a type of car trailer used to move supplies, machinery, and other items. They can be installed on the roofs of vehicles or even transported in their wheeled carts, but they are normally hitched to a vehicle and pulled behind it. Both business and leisure users can employ cargo trailers, which come in widths ranging from 2 to 8 feet. To meet varied needs for cargo transportation, cargo trailers are available in a variety of forms, dimensions, and aesthetics. Cargo trailers also include several other features, including built-in ramps and tie-downs for securing cargo. Additionally, luxuries like televisions and air conditioning can be added to cargo trailers.
During the forecast period of 2021–2031, the global market for cargo trailers is anticipated to expand at a CAGR of 4.9%, reaching an estimated value of USD 19.6 billion in 2031. The market is anticipated to increase as demand for cargo trailers in recreational activities like camping and fishing rises. Additionally, the growing use of cargo trailers for logistical and transportation needs by commercial organizations would also aid market expansion.
One of the key constraints limiting the market's growth is the high cost of trailer ownership and maintenance associated with cargo trailers. In addition, strict government rules on load capacity and safety standards are anticipated to be a significant hindrance to the market's expansion. Additionally, the development of the cargo trailer business is constrained by poor infrastructure and expensive road fees in some nations. Future market growth may be impacted by the rising demand for electric cars as alternatives to conventional trailers. However, the expanding e-commerce industry and increase in the need for cargo trailers by commercial organizations are anticipated to create new market prospects.
COVID-19 Impact and Market Status
Due to disruptions in supply chains and manufacturing procedures, the COVID-19 epidemic has hurt the cargo trailer market. Demand has also been impacted by the closure of retail establishments and transportation services. To maintain demand in the market, some manufacturers are giving customers competitive benefits like simple financing options or discounts on their products. This is anticipated to fuel market expansion in the upcoming years.
The Aluminum Cargo Trailer Segment emerged as the Most Lucrative Type
Due to their durability and small weight, aluminum cargo trailers are predicted to rule the industry. Additionally, they are less expensive to maintain and cost-effective when compared to steel cargo trailers. The market for aluminum freight trailers is anticipated to increase during the forecast period. Further, it is anticipated that the market for aluminum cargo trailers will expand as a result of growing technological developments in trailer designs.
The Most Prominent Application is the Home Segment
The cargo trailer market is predicted to be dominated by the home application segment because of the increased popularity of outdoor activities like camping and fishing. This segment's expansion is anticipated to be fueled by customers' increasing knowledge of cargo trailers for personal usage.
The After-Sale Service to emerge as the Most Promising Service Type
Due to the inclusion of services including cargo trailer maintenance and repair, the after-sales services category is predicted to dominate the industry. Due to the convenience, they provide and the fact that they lower the cost of purchasing new cargo trailers, these services are growing in popularity with consumers. The growing demand for customized trailer designs is also anticipated to fuel the expansion of the after-sales services market.
The North American Region to render Ample Financing Opportunities
Due to the abundance of competitors there, North America is anticipated to account for a sizeable portion of the market. The market in this region is anticipated to expand as a result of the increased government activities to raise awareness about cargo trailers. The increase in commercial and recreational activities is another element that is anticipated to support the market's growth in this area.
Utility Trailer Manufacturing Company, Covered Wagon Trailers, Corn Pro Trailers, Sure-Trac, Keystone RV, PJ Trailers, Big Tex Trailers, Quality Trailers, Carry-On Trailer Corporation, Forest River, and others are the major participants in the market. To grow their market share and their presence in the cargo trailer industry, these businesses have implemented several different techniques.
Recent Developments in the Cargo Trailer Market
• Two new cargo trailer types were introduced in May 2020 by Haulmark Trailers, a significant US producer of cargo trailers. The two versions have various cutting-edge technologies, like power steering, sturdy construction, and climate control systems, and are designed for both business and residential purposes. This will assist in supplying the increasing demand for premium cargo trailers in the area.
• The new XLR Micro Boost travel trailer was introduced in April 2021, according to Forest River, Inc., a major US producer of freight trailers. The device features an aerodynamic design and is made of lightweight materials. It was created primarily for recreational activities. By the beginning of 2021, the product is anticipated to be offered on the market.
• A fresh model, the XLR Micro Boost travel trailer, was unveiled in April 2021. It is built of lightweight materials and has an aerodynamic design. This item is primarily made for leisure pursuits like camping and fishing. This device is projected to hit the market at the beginning of 2021.
Cargo Trailer Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 19.6 billion|
|Growth Rate||CAGR of 4.9 % during 2022-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Schmitz Cargobull AG, Wabash National Corporation, Utility Trailer Manufacturing Company, CIMC Vehicles Group Co., Ltd., BPW Bergische Achsen K.G., FUWA Heavy Industry Co., Ltd., Great Dane Trailers, Heil Trailer International Co., Ltd., Hyundai Motor Company,Utility Trailer Manufacturing Company, Covered Wagon Trailers, Corn Pro Trailers, Sure-Trac, Keystone RV, PJ Trailers, Big Tex Trailers, Quality Trailers, Carry-On Trailer Corporation, Forest River,|
Key Segments of the Global Cargo Trailer Market
Type Overview, 2021-2031 (USD Billion)
- Aluminum Cargo Trailer
- Steel Cargo Trailer
Application Overview, 2021-2031 (USD Billion)
- Gas Transport
Services Overview, 2021-2031 (USD Billion)
- After-Sale Service
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa