A low bed trailer is utilized in various applications and has the capability to carry loads up to 12 feet high. A low bed trailer is majorly used to carry oversized cargo such as industrial equipment, bulldozers. The high spending for infrastructure development in the emerging economies such as China and India is a key driver for the global low bed trailer market. For example, for road construction, China invested US$ 207 billion in 2015 and built 49,000 miles of expressways. Similarly, for the development of 35,000 km of roads across the country, the Indian government released funding of US$ 45 billion. The 14000 km will be developed for feeder route and 21000 km will be for economic corridor. Moreover, the Indian government also released the fund of US$ 65 billion for the upgrade of two lane national highway to four lane national highway. Hence, this increasing investment of the road construction have increased the demand of transportation of heavy manufacturing equipment has fueled the market of low bed trailer globally. In addition to this, the increasing adoption of mass reduction technology by the OEMs for the fleet trucks for increasing demand of fuel efficiency also become one of the major driver for the growth of the global low bed trailer market. Improved aerodynamics, low rolling resistance, use of low-rolling-resistance tires, idling reduction technologies are some of the new technologies adopted by the OEMs which helps to improve the fuel efficiency of the trailers.
In addition to this, the increasing demand of freight for defense equipment and shortage of vehicle logistics for rail and road transport are some of the other drivers which also provides the growth opportunity to the global low bed trailer market.
Low bed trailer market taxonomy
On the basis of product type, the global Low-bed trailer market is classified into:
Based on product segment the 3 axle product segment holds the dominant position in the global Low-bed trailer market in 2016 and is projected to retain its dominance throughout the forecast period. The increasing demand for transportation of agriculture and building machines become the major driving factor for the growth of 3 axle product in the global Low-bed trailer market
On the basis of application, the global Low-bed trailer market is classified into:
Low bed trailer Market Outlook – North America holds the largest market of the global Low-bed trailer market.
On the basis of geography, global Low-bed trailer market is classified into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia pacific holds the dominant position in the global Low-bed trailer market in 2016 and is projected to retain its dominance throughout the forecast period. The increasing infrastructure facilities such as production halls, bridges, public buildings, roads and many more in Asia pacific countries such as India, China has increased the demand of specialized equipment and manufacturing structures and machines provides the growth opportunity to the Asia pacific low bed trailer market. For example, for highway network the china government have a target to build 3 million km by 2020
Key companies of global Low bed trailer market
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, Utility Trailer Manufacturing Company are some of the key companies of the global Low bed trailer market.