Market drivers include decarbonization, electrification, and a renewed focus on productivity in the road freight business
BOULDER, Colo., Oct. 5, 2023 /PRNewswire/ — A new report from Guidehouse Insights examines the market for trailer electrification, its likely direction, and technology adoption over the coming decade.
The impact of decarbonization on transportation has been marked and is becoming more so. Within the light duty segment, hybrid vehicles and EVs are, in some markets, now outnumbering their internal combustion engine counterparts. According to a new report from Guidehouse Insights, interest is also growing in the heavy commercial vehicle segment, and within a decade both Europe and North America will see significant adoption of electric trucks and buses.
Guidehouse Insights projects that the market for substitutive electric technologies across all semitrailers worldwide will reach 120,200 units annually by 2032—or 12.4% of the global semitrailer population—and grow at a compound annual growth rate (CAGR) of 30.6% over the analysis period.
“Trailers are a fundamental component of the global road transportation fleet, but whereas truck design has evolved and developed over time, the basic semitrailer today looks remarkably like that of 30 years ago,” says Oliver Dixon, senior research analyst with Guidehouse Insights. “Aerodynamic considerations have changed the trailer silhouette to some degree, and the need to lighten the vehicle has resulted in the use of different construction materials, but overall, trailers have tended to be left out in terms of development.”
This is now changing. Driven by the need to decarbonize, the advent of electrification, and a renewed focus on productivity in the road freight business, model trailers are now occupying a place in the spotlight, according to the report.
The report, Trailer Electrification, considers developments in trailer electrification over the next 10 years (2023-2032). It provides analysis for the adoption of four different (though not mutually exclusive) variants of electrification: shore power plus battery, mild solar, full solar, and electric axles (e-axles). Guidehouse Insights’ findings point to a significant uptake of electric technologies in both the European and North American markets, which are, along with China, the world’s largest markets for semitrailers. Growth in other geographic areas will be more muted, with adoption expected to pick up toward the end of the analysis period. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at guidehouse insights.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has over 16,500 professionals in over 55 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Trailer Electrification, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
[email protected]
SOURCE Guidehouse Insights