Timber Trailers Market Estimated to grow at a CAGR 1.52% to reach US$1.212 billion by 2025

Timber Trailers Market Estimated to grow at a CAGR 1.52% to reach US$1.212 billion by 2025

By Knowledge Sourcing Intelligence Press Releases

Knowledge Sourcing Intelligence announces the publication of a new report on “Timber Trailers Market - Forecasts from 2020 to 2025" to their offering.

Timber trailers can be seen as large wagons (also referred to as vans in many parts of the world) which are attached to an automotive (usually a truck or a tractor) for the purpose of carrying timber by road. A timber trailer offers space for loading timber, which can then be transported by connecting the trailer to a truck or a tractor. Although these trailers have been in use for a fairly long time, there designs and capabilities are witnessing a continuous improvement.

According to the report, the Timber Trailers Market is projected to increase at a CAGR of 1.52% over the forecast period 2019-2025.

The market growth of timber trailers is closely tied to the growth of construction industry. This industry is witnessing a continuous flow of investments on account of ageing infrastructure in regions like North America and Europe. Since urbanization began early in many countries across these regions, construction of buildings picked up pace early across them. As buildings have been standing for decades now, they require renovation. Many buildings are undergoing demolition and re-construction owing to high risks to life and property, and high costs involved in renovation of such buildings. The construction sector is witnessing a good growth not only in developed economies, but also in many developing and under-developed economies. Colombia, for instance, is a South American country and is witnessing a significant contribution to its GDP being made by the country’s construction sector. In 2018, the country secured the position of third most competitive country in the world with respect to laws in place for financing of infrastructure projects under PPP model. According to a data from Invest in Bogota, which is a PPP involving the Bogota City Government and the Bogota Chamber of Commerce, the country’s construction industry was valued at COP$63.3 trillion in 2018, which was around 6.8% of the country’s GDP. Peru, another South American country, is also witnessing a good growth across its construction sector. Through the end of the year 2017, the construction sector in the country was growing at 2.2% with solid growth projected by the Peru’s Central Bank till 2019. Rapid growth of construction industry across countries is driving with it the demand for construction materials among end users, thus boosting the demand for timber. Since transporting huge volumes of timber require advanced machinery which can minimize labour and reduce costs, while speeding up delivery of timber to customers, timber trailers are witnessing a continuous increase in adoption, which is propelling the market growth.

Asia Pacific account for a significant share in the timber trailers market

Geographically, the timber trailers market has been segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. To give a clearer view of the overall market, these regional markets have been further segmented into countries which account for a considerable market share. Asia Pacific accounts for a significant market share and the market growth in this region is being contributed to by heavy flow of investments into construction sector. North America and Europe also hold a considerable market share. South America and Europe are two more regions which are poised to show a decent growth in this market on account of rising investments into construction industry.

The major players covered as part of the report are Palmse Mehaanikakoda, STEPA Farmkran GmbH, DOLL Fahrzeugbau GmbH, Woody Equipment Inc. and Anser Manufacturing Ltd among others.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/timber-trailers-market

This report has segmented the timber trailers marketon the basis of following terms:

By Application

  • Construction
  • Commercial

By Geography

  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Others