Wilmington, Delaware, USA, June 07, 2022 (GLOBE NEWSWIRE) — The global agricultural trailer market is expected to grow at a CAGR of 6.84% during the forecast period from 2022 to 2031, it is expected to exceed worth US$51.2 billion by 2031 according to a research report by Transparency Market Research (TMR).
Government authorities in several countries around the world are taking initiatives to support the rapid adoption of agricultural mechanization. This factor is expected to positively impact the market demand for agricultural trailers in the coming years. Apart from that, agricultural trailers are increasingly being used in the forestry industry to transport different end products, including freshly cut timber. Hence, the market is expected to gain significant sales prospects from the forestry industry in the coming years.
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Agricultural Trailers Market: Key Findings
- Agricultural trailers are gaining ground in the agricultural sector due to their ability to provide many benefits such as greater reliability, improved speed and high level of efficiency with less losses while transporting different agricultural products. This factor translates into increased sales opportunities for the agricultural community, which in turn leads to promising expansion opportunities for players in the agricultural trailer market.
- The major vendors in the agricultural trailer market are focusing on increasing the production of dump trailers to meet the current agricultural transportation market needs. That aside, the companies are focused on developing a solid marketing strategy for farm trailers. It is estimated that these efforts will result in a promising future for the agricultural trailer market.
- The agricultural trailer market is witnessing an increase in demand for technologically advanced products. For example, one of the major trends in the agricultural trailer industry includes an increase in the adoption of connected and smart trailers that offer features such as smart sensors and IoT technologies. These factors are likely to contribute to the rapid growth of the agricultural trailer market, which is expected to reach a valuation of over US$51.2 billion by 2031.
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Agricultural Trailers Market: Growth Boosters
- Rapid growth in agricultural mechanization business in many developed and developing countries is driving demand for agricultural trailers
- Growing number of agricultural equipment sales opens up exceptional growth avenues in the global agricultural trailer market
Agricultural trailers market: Regional analysis
- The Asia-Pacific agricultural trailer market is expected to gain significant sales opportunities over the forecast period owing to an increase in agricultural mechanization, rise in demand for agricultural equipment, rise in sales of agricultural equipment, population growth leading to increased demand for food grains, and shortage of labor in agricultural activities in the region
- The market is estimated to attract lucrative prospects in Latin America and North America due to an increase in the use of all-terrain vehicles (ATVs) by regional farmers for surveying farms and carrying out light transport activities. Apart from that, agricultural trailers are connected with recreational vehicles including ATVs to transport small agricultural tools and agricultural products, notes the TMR study on the global agricultural trailer market.
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Agricultural Trailers Market: Key Players
Some of the key players profiled in the report are:
- Bailey Trailers Limited.
- AWACHAT INDUSTRIES LTD.
- Beri Udyog Pvt. ltd. (Fieldking)
- Behnke Enterprises, Inc.
- ET Agricultural Trailers
- Doepker Industries Limited.
- JPM Trailers
- hittner tractors
- LOPEZ GARRIDO, SA
- EARTH FORCE
- The Drake Group
- Richard Western
- Yucheng Zeyi Machinery Co., Ltd.
- Western fabrications
- Zonderland Construction B.V.
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Segmentation of the agricultural trailer market
By product type
- Flatbed trailer
- Grain wagon
- Tipper trailer
- Sprayer trailer
- Tipping trailer
- Trailer without tipping
- Three-way tipping trailer
By type of tractor
- Utility Tractor Trailer
- Orchard Type Tractor Trailer
- garden tractor trailer
- Row Crop Tractor Trailer
- Others (compact tractors)
By capacity (ton)
By tractor power (HP)
- 0-30 HP
- 31-50 HP
- 51-100 HP
- 101-175 HP
- 176-250 HP
- >250 HP
- Single axle
- Double axle
By sales channel
- direct channel
- Distribution channel
- North America
- Asia Pacific
- Middle East and Africa
- South America
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