Automotive Trailer Market Size, Share, Growth Analysis, By Trailer Type(Dry Van & Box, Refrigerator), By Axle Type(Single Axle, Tandem Axle), By Vehicle Type(Two-Wheeler & Bicycle, Passenger Cars) - Industry Forecast 2024-2031

Automotive Trailer Market size was valued at USD 20.33 billion in 2021 and is poised to grow from USD 21.16 billion in 2022 to USD 29.19 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).

The global automotive trailer market is witnessing growth, primarily driven by the expansion of the logistics industry, a rise in cold chain transportation, cost reduction, and increased carriage capacity. An example of this growth is seen in Lineage Logistics Holding, LLC's strategic facility expansion near the Savannah, Georgia port, providing additional capacity for frozen and refrigerated products in 2021. However, challenges such as high maintenance costs and environmental concerns related to refrigerated trailers hinder market growth.

Automotive trailers, which are unpowered vehicles towed by powered ones using a hitch, play a crucial role in transporting goods and commodities. They are extensively utilized by cargo companies for national and international transfers and also find application in recreational activities like carrying luggage, functioning as fishing boats, or serving as mobile homes with limited amenities.

On the positive side, technological advancements in automotive trailers and the growing interest in trailer platooning offer lucrative opportunities for the market. For instance, Dennison Trailers Ltd. launched a new sliding bogie multi-function trailer capable of carrying two 20' containers with ultimate flexibility in October 2021, allowing it to be split into two independent trailers.

US Automotive Trailer Market is poised to grow at a sustainable CAGR for the next forecast year.