The global timber trailer market is projected to grow at a CAGR of 1.52% to reach US$1.212 billion by 2025, from US$1.107 billion in 2019. Timber trailer also called a timber lorry, is a flatbed or platform type trailer used for the transport of logs from one place to another in a shorter time. These trucks are used for either commercial purposes such as small home renovations and woodwork or are used for construction applications like structures and supports in the conditions with low loadbearing capacity. The weight of the logs on the timber trailer should not exceed the maximum load that can be borne by the bed of the trailer as it can lead to accidents and hazardous situations during transport.
Increasing construction and infrastructure activities globally is leading to the requirement for the faster delivery of bulk material to aid in conducting a proper and efficient construction, thereby increasing the demand for these trailers from the construction industry.
Furthermore, the market players are involved are making investments and advancements to facilitate the timber trailer market growth. DOLL, unveiled its new trailer at the ‘Intermodellbau’, a trade fair for model and model sports, which was held in April 2018. The timber trailer was designed in such a way that it was easily maneuverable on narrow forest roads, mountainous paths and steep roads. The new truck presented by Doll is also capable of transporting log up to 22m in length. The trailer is two-axle and self-steering.
In conjunction, some of the steps and initiatives being taken by the government towards increasing the hauling distance and coverage of timber in an attempt to save forests is also increasing the demand for these trucks over the forecast period. For instance, in May 15, 2019, the partners in the Healthy Forest Initiative made some necessary changes to it. The initiative earlier allowed trucks to haul 80,000 pounds of timber, but according to the new rules, it was updated to 90,000 pounds for trucks with 6 axles to improve haulage capacity and ensure faster delivery.
The timber trailer market has been segmented based on application and geography. By, application, the market has been segmented as construction and commercial.
Construction to hold a significant share
Based on application, construction segment is expected to hold a significant market share attributable the increasing construction activities across different regions. This is leading to the burgeoning demand of these vehicles thus, boosting the timber tucks demand over the next six years.
Asia Pacific to show good growth opportunities
Based on geography, Europe is expected to hold a significant amount of share in the market owing to the fact that there has been an increase in the number of logistics and transportation services in countries is such as Germany, which is also is one of the leaders in logistics services. North America is also expected to hold a considerable market share facilitated by a growing logistics and transportation industry. According to the World Bank, Logistics Performance Index, Germany increased 4.122/5 from 2014 to 4.226/5 in 2016, whereas the North American region clocked an increase from 3.887/5 in 2014 to 3.961/5 in 2016. Moreover, Asia Pacific holds is expected to increase its share over the forecast period owing to the fact that the increasing number of construction projects in countries like India and China.