TRAILER DEMAND SHOULD CONTINUE UPWARD TRAJECTORY IN FUTURE
Road transportation for manufacturing, automotive, construction, energy, and agriculture is not only not going away anytime soon, it is vastly increasing in demand. The road freight transportation market in North America alone, is expected to grow at a steady rate of 4% each year for the next 4 years at least.
According to ResearchAndMarkets.com, “The increasing use of alternative fuels will drive the growth prospects for the road freight transportation market in North America for the next few years. Some of the major factors responsible for the growing demand for alternative fuels such as the natural gas, biodiesel, and propane to power road freight vehicles is the increasing cost of fuel, government regulations, and environmental concerns.” “Road Freight Transportation Market in North America 2017-2021”, ResearchAndMarkets.com.
In fact, this increase in alternative fuel use is only the tip of the iceberg. Many other factors also push the growth of the transportation industry: rising populations, economic expansion, and continued growth in logistics services, to name a few.
The reason why this article is titled “Semi-Trailers Demand Rising”, and not “Semi-Truck Demand Rising”, is twofold. First, a semi-truck will always need the semi-trailer to haul goods from one place to another. Second, most road freight companies want at least 2 semi-trailers per truck. The larger freight companies have upwards of 8-10 trailers per truck. Accordingly, the demand for semi-trailers will increase at an even greater rate than for the trucks themselves.
So, for at least the next several years, this industry will continue to be shaped by the growth of our world’s freight transportation demands.