The Forecast of World-Wide Semi-Trailer Industry—Part II
The development of the logistics industry promotes the semi-trailer market in Asia and Oceania
In the past two years, the semi-trailer market in the Asia-Pacific region has experienced tremendous growth. The region includes some of the fastest-growing economies, including India, China and South Korea. With rapid development, the logistics sector in the region is growing. The rapid growth of industrialization in these countries has provided new opportunities for the semi-trailer market. The increase in overall industrial production has led to an increase in freight volume, which has boosted the demand for semi-trailers in the region. Compared with developed regions, this region has a better cost advantage in terms of labor and materials. In addition, government policies in India and China encourage the production of semi-trailers in the local market to meet domestic demand. For example, in 2015, China launched the "Made in China 2025" program, which aims to encourage companies in the region to compete with global companies. All these factors have led to an increase in production over the years. OEM not only meets domestic demand, but also serves developed markets and maintains global competitiveness.
Technological progress is the main driving force of the European market
It is estimated that the European semi-trailer market will maintain steady growth, with Germany and the United Kingdom being the main performances. It is expected that most major European economies will have more business investment in the next few years. This will have a positive impact on the semi-trailer market.
Europe has many industries, such as electronic equipment, chemistry, automobiles, biotechnology, and food and beverages. The continued growth in these areas will provide impetus to the semi-trailer market in Europe. With the development of the latest semi-trailer technologies (such as semi-trailer telematics and temperature monitoring systems), the European semi-trailer market is expected to gain traction in the next few years. The three German giants Schmitz Cargobull AG, Fahrzeugwerk Bernard KRONE GmbH and Kogel Trailer GmbH & Co. KG not only dominate the European market, but are also expanding their businesses in emerging economies. It is expected that in the next few years, the German semi-trailer market will grow in the form of exports and increased production.