The Business Research Company’s Global Trailer Market Report 2020-30: Covid 19 Impact And Recovery
LONDON, GREATER LONDON, UK, October 15, 2020 /EINPresswire.com/ — The usage of fiber laser in manufacturing of truck trailers is a major trend in the truck trailer manufacturing industry. It is proven that usage of fiber laser doubles the productivity of trailer manufacturer’s metal cutting process. The advantage truck trailer manufacturers have by using fiber laser is that they can have a higher extent of in-house control over trailer production and save the expense of putting work out to sheet metal subcontractors.
Another advantage is that they can optimize the processes of prototyping and design processes and bring new products to market faster. Yet another advantage of the fiber laser is that machining is much faster, while being cost-effective. Trailer manufacturer Indespension, at its factory in Bolton, Lancashire, England, replaced its ageing CO2 laser-powered machine with a Bystronic ByStar Fiber 6520 fiber laser profiling center, after which their productivity doubled.
The global trailer market is expected to grow from $54.2 billion in 2019 to $54.9 billion in 2020 at a compound annual growth rate (CAGR) of 1.3%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The global trailer market is then expected to recover and grow at a CAGR of 11% from 2021 and reach $73.4 billion in 2023.
The truck trailer manufacturing market consists of sales of truck trailers by entities (organizations, sole traders and partnerships) that produce truck trailers, truck trailer chassis, cargo container chassis, detachable trailer bodies, and detachable trailer chassis for sale separately.
The global trailer market is segmented by type into dry vans, refrigerated trailers, tank trailers, flatbed trailers, lowboy trailers, and other trailers. By end-use, the market is segmented into paper and paper products, pharma drugs, textile products, food and groceries, agriculture and farm products, chemicals, petroleum and petroleum products, motor vehicle and motor vehicle parts, metal and minerals, commercial machinery, and other products.
Major players in the global trailer market are China International Marine Containers (Group) Ltd, Schmitz Cargobull AG, Bernard Krone Holding SE & Co. KG, Wabash National Corporation, and Utility Trailer Manufacturing Company.
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Source: EIN Presswire