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Automotive Trailer Market to Grow at 4%/Year

| May 14, 2018

Automotive Trailer Market to Grow at 4%/Year

According to a recent report, the global automotive trailer market was valued at $21,895.0 million in 2016, and is projected to reach at $28,538.5 million by 2023, growing at a CAGR of 3.8% from 2017 to 2023.

At present, Asia-Pacific dominates the market, followed by North America. In 2016, China dominated the Asia-Pacific market and Germany led the overall market in Europe. However, in North America, the U.S. currently dominates the market.

As the authors, Allied Market Research, noted: “The reduction in cost in terms of fuel consumption & emission, and their environment-friendly nature of the automotive trailers make way for the growth of the market. In addition, extra carriage capacity of the automotive trailers also contributes to the market growth. However, high maintenance cost and reduced resale value hampers this stated growth.”

Category: General Update, News

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