The global Low Bed Trailer Market is estimated to be valued at US$ 16.94 Bn or Billion in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Low bed trailers are heavy-duty trailers used to transport heavy machinery and equipment that cannot be loaded conventionally over the trailer’s side. They feature folding ramps or tails and extra-long, low-slung bodies for rolling loads on and off. The use of low bed trailers provides benefits like ease of loading and unloading of heavy machineries and safe transportation.
Market key trends:
One of the key trends in the market is growing construction activities. The increasing number of infrastructure projects such as construction of roads, highways, bridges, residential and commercial complexes is fueling the demand for construction equipment. This is positively impacting the low bed trailer market as it is used to transport heavy machinery and equipment used in construction projects. The market is witnessing an increase in demand for specialized low bed trailers that can haul very heavy loads of up to 120 tons. Manufacturers are focusing on designing customized trailers with higher payload capacity to cater to evolving transportation needs.
Segment Analysis
The global low bed trailer market is segmented by structure into flatbed trailer and lowbed trailer. Among these, the lowbed trailer segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. Lowbed trailers are preferred for transporting heavy machinery and equipment as they provide greater ground clearance compared to flatbed trailers.
Key Takeaways
The global low bed trailer market is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing construction and infrastructure development activities across the globe.
Regional analysis
Regionally, Asia Pacific dominated the global low bed trailer market in 2022 and is anticipated to continue its dominance over the forecast period. This is attributed to rising construction and infrastructure activities in major economies such as China and India.
Key players
Key players operating in the low bed trailer market are Kögel Trailer GmbH & Co.KG, Bernard Krone Holding SE & Co. KG, Wabash National Corporation, Böckmann Fahrzeugwerke GmbH, Dennison Trailers ltd, Great Dane Trailers, Humbaur GmbH.
The global low bed trailer market size was valued at US$ 16.94 billion in 2023 and is expected to reach US$ 30.66 billion by 2030, growing at a CAGR of 7.0% during the forecast period.
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