Long Haul Tractor Trailers Market
To find the US and European market size for long haul tractor-trailers, the number of vendors manufacturing the trailers, the number of customers (truckers and logistics companies), the largest companies purchasing trailers, and the increase/decrease in truckers, volumes, and costs in order to determine if the trucking industry is expanding or not.
According to IBISWorld, the market size for long haul tractor-trailers in the US in 2019 is $223 billion. More information on the topic has been presented below.
Long Haul Tractor Trailers Market (US)
- The total revenue or market size of the long haul tractor-trailers in the US in 2019 is $223 billion.
- There are a total of 472 truck trailer manufacturers in the US, and the market size of the truck trailer manufacturing industry is $12 billion.
- The total number of businesses (including truckers and logistics companies) working in the long haul trucking industry in the US is 449,782.
- While around 670,000 long haul truck drivers were employed in the US in 2017, around 695,000 long haul truck drivers were employed in 2019. An increase in the number of drivers was observed.
- According to IBISWorld, Wabash National Corporation, Great Dane LLC, and Utility Trailer Manufacturing Company are the companies "holding the largest market share in the truck trailer manufacturing industry."
- The long haul freight trucking industry in the US grew at a rate of 2.6% from 2014 to 2019. Similarly, the truck trailer manufacturing industry in the US grew at a rate of 3.7% from 2014 to 2019.
- According to an article on CNN Business, companies in the US paid 6% more for trucking in April 2018 when compared to April 2017. According to DAT Solutions, the cost per mile in the market was 29% higher in April 2018 when compared to the cost in April 2017.
- Some big companies in the US that purchase large haul truck trailers are Coke, Kellogg, Hasbro, Mondelez, and Monster.
Long Haul Tractor Trailers Market (Europe)
- About 188,000 semi-trailers were sold in the European Union in 2016. The number of sales had grown by roughly 50% when compared to the number of sales in 2010.
- According to CLEAR International, more than 190,000 trailer registrations were completed in Western Europe in 2017.
Proposed next steps:
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The initial research was able to determine the required information for the US market. Therefore, we'd recommend further research to determine the market size of long haul tractor-trailers in Europe. Due to the lack of publicly available market size, this research might require triangulation.
We'd also recommend further research to provide information on the number of vendors manufacturing the long haul trailers and the increase/decrease in the number of truckers, volumes, or costs in Europe in order to determine if the trucking industry is expanding or not.
We'd also recommend further research to provide a brief description of the five largest companies purchasing the long haul trailers in Europe. The 'largest companies' must be selected based on the number of long haul trailers purchased or any other similar metrics.