Us Articulated Lorry Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Articulated Lorry Market was valued at USD 57.2 Billion in 2022 and is projected to reach USD 79.1 Billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
The United States articulated lorry market is experiencing a dynamic phase, influenced by various economic and industrial factors. Articulated lorries, commonly known as semi-trucks, are pivotal in transporting goods across the nation, ensuring the seamless flow of commerce.
In recent years, the market has witnessed fluctuations. Notably, in the second quarter of 2024, shipment requests saw a 9% year-over-year increase, indicating a resurgence in demand. However, this uptick comes after a significant downturn in 2022, often referred to as a "freight recession," where inflation and reduced consumer spending led to decreased cargo volumes and rates.
Several factors contribute to the current market dynamics:
Excess Fleet Capacity: The pandemic-induced surge led to an oversupply of trucks, resulting in underutilization and suppressed freight rates.
Rising Operational Costs: Marginal costs, excluding fuel, rose over 6% in 2023, driven by high interest rates, new technology installations, and increased accident rates.
Market Fragmentation: Small carriers, holding 85% of the market, have intensified price competition, especially with the advent of digital freight platforms.
Despite these challenges, projections for the articulated lorry market remain optimistic. The global market size is expected to grow from USD 35 billion in 2023 to USD 55 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.2% during the forecast period. This growth is attributed to increasing demand in sectors such as logistics, construction, mining, and agriculture.
From personal experience, navigating the current market requires adaptability. Engaging with digital platforms has become essential, offering real-time data and broader access to freight opportunities. Additionally, focusing on fuel efficiency and regular vehicle maintenance can mitigate rising operational costs.
In conclusion, while the U.S. articulated lorry market faces challenges, strategic adaptations and leveraging technological advancements position stakeholders to capitalize on emerging opportunities in this evolving landscape.
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Schmitz Cargobull
Kögel Trailer GmbH
HYUNDAI Translead
Great Dane
MANAC INC
CIMC
Utility Trailer Manufacturing Company
Lamberet SAS
Sinotruk
Krone
WIELTON
Schwarzmüller Group
TIRSAN
Gorica
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Articulated Lorry Market
Standard Articulated Lorries
Refrigerated Articulated Lorries
Tanker Articulated Lorries
Flatbed Articulated Lorries
Low-loader Articulated Lorries
Below 20 Tons
20-30 Tons
30-40 Tons
Above 40 Tons
Diesel
Compressed Natural Gas (CNG)
Electric
Hybrid
Construction
Logistics & Transportation
Food & Beverage
Retail
Aerospace & Automotive
Long-distance Transportation
City/Urban Deliveries
Heavy Equipment Transport
Hazardous Material Transportation
Temperature-sensitive Deliveries
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Articulated Lorry Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Articulated Lorry Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Articulated Lorry Market, By Type
6. Global Articulated Lorry Market, By Application
7. Global Articulated Lorry Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Articulated Lorry Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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