LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global low bed trailer (LBT) market to grow to 65.13 thousand units by 2021, at a CAGR of close to 4% over the forecast period, according to their latest report.
The research study by Technavio on the global low bed trailer (LBT) market for 2017-2021 provides a detailed industry analysis based on application (2 axle segment, 3 axle segment, and 4-5 axle segment) and geography (APAC, Europe, and the Americas).
|A low bed trailer is one of the many types of semi-trailers and is used for versatile applications and to carry loads that are up to 12 feet high. 3 axle LBTs are the most popular product of the market as they are required to carry specialized equipment and prefabricated heavy cargo such as cranes, hoists, bulldozers, road rollers, and specialized dumper trucks.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global low bed trailer (LBT) market:
- High infrastructure investments in emerging countries
- Shortage in vehicle logistics for road and rail transport
- Increasing freight of defense equipment
High infrastructure investments in emerging countries
“Housing and construction industries in APAC are growing as the region accommodates more than half of the global population. The reversal of the one-child policy in China is also projected to create additional housing requirement,” says Praveen Kumar, a lead analyst at Technavio for automotive manufacturing research.
India is also currently focusing on the development of its infrastructure, where approximately 65% of the total freight is transported by road, with an average speed of 30-40 km/hr. These development projects require the demand for heavy commercial vehicles and freight transport, thereby boosting the market growth.
Shortage in vehicle logistics for road and rail transport
The high usage of road transport in emerging economies has resulted in a rising number of heavy-, medium-, and light-duty vehicles. Countries such as India and China focus their railroad transport systems for transporting passengers due to high levels of congestion.
Developed and developing European countries prefer to use road transport due to a lack of reliable last mile connectivity of railways. The high demand for transporting logistics from and to manufacturing units will create additional demand for low bed trailers over the forecast period.
Increasing freight of defense equipment
“In the US, trucking is the primary mode of transport for the shipment of all types of domestic defense equipment. This includes inbound, outbound, and intrastate shipments, which mainly involves cargo and trucking,” says Praveen.
The infrastructure shipments involve the movement of finished aircraft to the client site from the aircraft manufacturing unit. Various aerospace companies move products with the help of commercial trucks to transport equipment and goods between manufacturing centers located in urban cities.
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