Solely led by consumer preference, trailer canopy market will continue to be influenced by key trends such as customization and vehicle innovations. Use of trailer canopy has extended beyond the purpose of shading to almost mimicking a mini warehouse or commercial storage. Key companies operating in the trailer canopy market have introduced a slew of novel solutions, which fall in line with evolving requirements of end-users.
Custom-made trailer canopy, and metal-based (steel or aluminum) trailer canopy, have been attracting end-users’ interest, who are being lured by manufacturers key offerings such as emptied canopy, multiple compartment canopy, and canopy with shelves & drawers. Additionally, growing focus of manufacturers in providing easy-to-install, reliable, weatherproof and durable trailer canopy will significantly rub off on growth of the trailer canopy market.
Trailer canopy market is foreseen to record an average 4.2% value CAGR over the forecast period, 2018 to 2028, according to a new Fact.MR report. The report states that expansion of the logistics industry, which entails demand for customized trailer canopy, coupled with rising demand for lightweight commercial trucks will continue to underpin growth of the trailer canopy market in the forthcoming years. However, highly fragmented nature of the trailer canopy market, wherein raw material prices illustrate increased fluctuations, along with high cost of trailer canopy will continue to impede growth of the market.
Trailer Canopy Market: High Demand for Custom-made Solutions; Emphasis Inclined toward Affordability and Durability
The automotive industry has been witnessing an uptake in demand for customized solutions, and this trend is rubbing off on popular accessories such as trailer canopy. As trailer canopy design & development is witnessing transformation in tandem with the evolving utility, end-user demand for customized trailer canopy has been witnessing a hike recently.
Customized canopy offerings of manufacturers, with features including dust- & waterproof material, multiple doors & windows, storage cabinets & drawers, and roof racks for containing tool boxes, fall in line with such evolving designs & developments. Trailer canopy manufacturing companies are also concentrating on the provision of custom canopy fit-outs for vehicles that need aftermarket modifications, thereby retaining their competitiveness in the trailer canopy market.
Among various material employed for manufacturing trailer canopy, aluminum has been sought-after among companies operating in the trailer canopy market. Excellent material qualities of aluminum, along with its resilience in robust climatic conditions, has meant that aluminum is a lucrative material for the production of trailer canopy, as it aids in reducing the overall vehicle weight and enhancing the fuel efficiency. Trailer canopy based on aluminum majorly seek adoption in bakkies, trailers and small trucks.
Trailer Canopy Market: High Cost and Inhibition of Import Penetration by Domestic Players to Prevail as Key Growth Deterrents
The trailer canopy market contains only a handful of international established players, however occupancy of numerous domestic players worldwide has been inhibiting the import penetration. End-users tend to prefer trailer canopy manufactured by domestic players over international players, in case of specific utility-based purchases.
The upward trend of customization in the trailer canopy market has confined the mass production of this vehicle component. This further favors well for domestic manufacturers than their international competitors, as they are in close proximity to potential customers and gain intelligence on evolving requirements faster. This has further lowered the import penetration rate of trailer canopy. Lower import penetration of trailer canopy has negatively impacted the supply chain of the trailer canopy market, thereby inhibiting the growth prospects.
Trailer canopy is being considered as a labor intensive and flimsy vehicle component. Albeit design and technology advancements have enhanced structure of the trailer canopy, high cost is a key aspect that has been inhibiting the consumer investment in trailer canopy. Customers continuously seek cost-effective solutions, as a trailer canopy caters to both storage and transportation requirements alike. This, coupled with various counterfeit product offerings by domestic players, will continue to constrain growth of the trailer canopy market.
Trailer Canopy Market: Opportunities Abound in Lightweight Commercial Vehicles
The rise in international trade has augured well for growth of the trailer canopy market, as trailers are extensively employed for transportation of goods and commodities. Stringent regulatory legislation regarding fuel efficiency and emission standards have intensified the demand for lightweight commercial trailers in past decade. This has further spurred demand for trailer canopy manufactured by using aluminum, as the material imparts excellent lightweight and durability attributes.
The aluminium consignment to the trailer and semitrailer industry has grown significantly over the past few years, which in turn has led robust adoption of the material in the production of trailer canopy. As countries are enacting stricter emission standards for commercial vehicles, manufacturers are delivering lightweight auto components for enabling high load capacity and easy towing, and trailer canopy is no exception. Growing demand for lightweight commercial vehicles will pave lucrative growth opportunities for the trailer canopy market in the foreseeable future.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
Trailer Canopy Market: Opportunity Assessment of Trailer Canopy Market Illuminates Lucrative Business Opportunities for Participants
The global trailer canopy market is expected to witness steady pace, with its demand being influenced by several trends and technological developments that have re-shaped the trailer canopy supply chain. A recent research report by Fact.MR focuses on various factors associated with trailer canopy market that are anticipated to sketch the future demand of trailer canopy, along with identification of major revenue scenarios for participants thus providing them with attractive business opportunities.
The report on trailer canopy market offers decisive market intelligence with an unbiased view on each market segment associated with trailer canopy. The report studies various drivers, opportunities and challenges that are expected to impede the growth of the trailer canopy market during the period of forecast, 2018-2028. All these factors are assessed across major regions in the globe in order to cover a 360 degree view of the entire market. An overview of the trailer canopy market reveals remarkable facts of the market associated with use of trailer canopy across key regional markets in the globe. A complete assessment of trailer canopy supply chain, value chain and business performance of trailer canopy across key regional markets has been covered in this research report. In addition, vital insights on major participants in the trailer canopy market have also been included in this report.
The extensive research report on trailer canopy market includes key insights derived using an exquisite research process. Analysts have employed a combination of a comprehensive secondary and an in-depth primary research to reach to vital conclusions of trailer canopy market. The data gathered from secondary research is cross verified and validated in every primary interview that is scheduled with trailer canopy market observers, key players involved in trailer canopy manufacturing and distribution as well as subject matter experts. Every trailer canopy market segment is assessed across major regions using this unique research process. Moreover, investment feasibility matrix provided in the trailer canopy market report highlights key intelligence to trailer canopy manufacturers apropos of regional revenue pockets that can be leveraged to gain clarity from an investment standpoint. With a technology roadmap provided in this report, the reader can get acquainted with new technological developments taking place in the trailer canopy market. In addition, the report includes cost structure assessment that reflects influence of cost and pricing on trailer canopy demand and sale, and in turn the overall trailer canopy market.
The report includes a thorough forecast analysis of trailer canopy market for a period of 10 years, starting from 2018 till 2028 at a global level. The forecasts have been carried out on the basis of a likely scenario, a conservative scenario and an optimistic scenario with respect to trailer canopy sales and adoption. Price point assessment and analysis by different trailer canopy types along with details of aspects impacting the pricing scenario of trailer canopy market have also been included in the report.
Trailer Canopy Market: Detailed Segmentation
Being a resourceful blend of primary and secondary research, the segments of the trailer canopy market have been thoroughly assessed across each region and country. The all-inclusive nature of the report reveals a detailed trailer canopy market segmentation that cover every angle of the market in order to obtain a complete holistic scenario. Below is the detailed trailer canopy market segmentation.
By floor Type
By Canopy Type
By Fits Type
By End Use
Trailer Canopy Market: In-Depth Analysis on Global Scenario
The trailer canopy market includes a detailed sectional assessment which represents forecasts for several trailer canopy regional markets across the globe. These sections throw light on macroeconomic aspects in a particular region, including economic, political and business outlook of the industry that are likely to impact sales of trailer canopy across the globe. Besides this, market valuation and analysis, volume forecasts, price indices and price point assessment of aspects influencing adoption of trailer canopy across various applications. The report also includes year-on-year projections reflecting growth of trailer canopy market with respect to floor type, canopy type, fits type, end use and regions.
Trailer Canopy Market: Competitive Analysis of Major Participants
Fact.MR’s report on trailer canopy market features a separate section that covers detailed competitive assessment. The competitive landscape section covers in-depth analysis on key market players including their SWOT analysis, product portfolio assessment, product developments and innovations, product line extension and inclusions, mergers and acquisitions and key growth strategies. Market share scrutiny of various tier players provides the reader with useful insights that can support the reader in planning key strategies to gain an edge over the competition during the period of assessment.
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