One of the key reasons propelling the expansion of the heavy equipment trailer market is the increased demand for high-duty trailers from the construction and agriculture industries. Other factors driving the market's expansion include rising urbanization, technical developments in transportation equipment, and rising safety consciousness. Additionally, a rise in logistical operations also helps the market expand. Last but not least, the industry is expanding as a result of rising government investments in infrastructure like roads and bridges. Likewise, the market for heavy equipment trailers is anticipated to be driven in the upcoming years by the rising demand for renewable energy.
Heavy Machinery Transporting huge excavators, harvesters, and other types of heavy machinery requires the use of trailers. These machines require trailers with high Gross Vehicle Weight Ratings because they are too large to be transported by standard trucks (GVWR). This element has enhanced demand for these containers and is propelling market expansion. Additionally, these trailers are in great demand due to the rise in construction activity because they are utilized to move huge and heavy equipment. The growing practice of using these trailers for both on- and off-road cargo transportation is another factor contributing to their rising demand.
A heavy equipment trailer is a specific kind of trailer made for moving large gear and equipment. These trailers may carry a variety of cargo, such as mining equipment, agricultural machinery, and construction machinery. Depending on the overall weight capacity needed by the user, they are often fitted with axles. Low-bed, flatbed, as well as double-drop trailers, are the three most popular styles of trailers. Such heavy equipment trailers are built to offer the cargo the highest level of safety and comfort while it is being transported. A huge vehicle designated a heavy equipment trailer is used to transport heavy machinery like bulldozers and backhoes. These trailers often have strong engines and suspension systems that make it easy for them to go across uneven terrain. These trailers are perfect for long-term use because they frequently include storage spaces and sleeping quarters for the crew. Additionally, these trailers frequently have safety features like rollover protection and crash-worthy design.
Over the projection period of 2021–2031, the market for heavy equipment trailers is anticipated to rise at a CAGR of 7.81%, from a value of USD 4.36 billion in 2021 to an estimated USD 8.29 billion by the end of 2031. The market's expansion is attributed to several factors, such as the rising demand for heavy equipment in the construction, agricultural, and other sectors, the increase in the global population that fuels an increase in infrastructure development activities, and the rising popularity of rental services.
One of the key reasons hindering the expansion of this industry is the higher price tag attached to these trailers. Significant financial resources are needed to manufacture, maintain, and repair these trailers. This raises the total cost of ownership, making it more challenging for small-scale consumers to purchase them. Additionally, the lack of consumer knowledge of the benefits offered by these trailers is impeding market expansion. Nonetheless, the market is probably going to be propelled shortly with the advent of rental services. Also, there will probably be more demand for these trailers due to the rising popularity of camping with recreational vehicles.
The GVWR Below 15000 lbs Segment emerged as the Most Lucrative Type
The GVWR Below 15000 Lbs, GVWR 15000-20000 Lbs, and GVWR Above 20000 Lbs categories are used to segment the global market for heavy equipment trailers. Due to its extensive use in the agriculture and construction sectors, the GVWR Below 15000 lbs segment retained the greatest share in 2020 and will maintain its dominance during the projected period.
The Most Prominent Application is the Construction Equipment
Agricultural equipment, Construction equipment, mining equipment, and other equipment are all categorized under the application sector of the global market for heavy equipment trailers. Due to the rising need for heavy machinery in several infrastructure projects, the construction equipment category held a sign
The North American Region to render Ample Financing Opportunities
North America, South America, Asia Pacific, Europe, and the Middle East & Africa make up the segments of the global market for heavy equipment trailers. Due to its high concentration of construction activities and rising demand for heavy equipment trailers, North America is anticipated to account for the greatest share of the global market. Moreover, the industry is being stimulated by the presence of major businesses in the area.
COVID-19 Impact and Market Status
The COVID-19 pandemic had a bad effect on the market for heavy equipment trailers, but it has since recovered. The demand for heavy machinery in the construction, agricultural, and other industries is on the rise, and this is attributed to a growing trend in rental services. The market is anticipated to expand between 2021 and 2031, with government initiatives supporting infrastructure development activities. Additionally, the market is anticipated to benefit from rising international trade activity and technological developments in the heavy machinery trailer industry.
PJ Trailers, Aluma, Load Trail LLC, Big Tex Trailers, Inc., Featherlite, Inc., Kaufman Trailers (Kaufman Manufacturing Company), Eager Beaver Trailers, and others are the major companies in the worldwide Heavy Equipment Trailer market. To meet the varied needs of the clients, these businesses have been providing a variety of trailers. To distinguish themselves from other market participants and increase their chances of success, these businesses are concentrating on diversifying their product lines and developing new technologies.
Recent Developments in the Cargo Trailer Market
• With an upgraded design and greater economy, Doonan Specialized Trailer introduced the fourth generation of its Lowboy trailer sequence in 2019.
• Trail King Industries unveiled a new series of heavy-duty tilt trailers in 2020 that are intended exclusively for transporting wind turbine nacelles.
• Eager Beaver Trailers debuted their LineXL model in 2021 to transport a variety of heavy machinery.
Heavy Equipment Trailer Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 8.29 billion|
|Growth Rate||CAGR of 7.81% 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||PJ Trailers, Aluma, Load Trail LLC, Big Tex Trailers, Inc., Featherlite, Inc., Kaufman Trailers (Kaufman Manufacturing Company), Eager Beaver Trailers, and others|
Key Segments of the Global Heavy Equipment Trailer Market
Type Overview, 2021-2031 (USD Billion)
- GVWR Below 15000 Lbs
- GVWR 15000-20000 Lbs
- GVWR Above 20000 Lbs
Application Overview, 2021-2031 (USD Billion)
- Construction Equipment
- Agricultural Equipment
- Mining Equipment
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa