Market.us announces the publication of its most recently generated research report titled, “Global car carrier market by Product Type (Open-Air, Enclosed), By Application (Automobile Sales Service, Terminals), and by Region – Global Forecast to 2028.”, which offers a holistic view of the global car carrier market through systematic segmentation that covers every aspect of the target market.

The global car carrier market is projected to be US$ 813.0 Mn in 2019 to reach US$ 1,059.0 Mn by 2029 at a CAGR of 2.7%.

A car carrier, which is also known as an auto transport trailer, car-carrying trailer, car hauler, etc., is a type of container designed to transport vehicles via ship or truck. There are two types of cars carrier in the modern era, one can be enclosed, and another one is open. The most marketable car carries built-in ramps for off-loading and loading vehicles and also power hydraulics technology to lower and raise ramps for stand-alone accessibility.

Global Car Carrier Market is projected to increase at a steady growth rate in the forecasted time. Car carrier vehicles on an even stage that slides or tilts to the ground to enable unloading and loading of the car. Similarly, there is a provision to load and unload vehicles on any ship.  Also, they are equipped with an under lift or wheel-lift, allowing them to pull a new car with them.

Growth in The GDP – consistent growth in the GDP of the developed, as well as developing nations, helps in the growth of the Car Carrier Market. Owing to the GDP growth of the emerging nations the significant players of the market have been showing a great fascination towards these regions which in turn helps in the revenue expansion of the market globally

Global Car Carrier Market Revenue (US$ Mn), 2019–2029 

However, repositioning of car production limited shipments from key Asian exporters, while imports into some key and developing regions were affected by economic and political disruptions, which in turn is expected to hamper the market growth of the car carriers market.

Nonetheless, although Europe and Asia Pacific markets are in a growth phase, there is comparatively lower penetration in economies like MEA and South America markets. Major manufacturers are focusing on increasing their presence in these untapped markets, which is likely to gain a higher market share, which in turn will fuel the growth of the car carrier market.

The global car carrier market is segmented on the basis of product type, application, and region. On the basis of product type, the market is segmented into open-air and enclosed. The enclosed segment accounts for the majority share and is expected to register the highest growth over the forecast period.

On the basis of Application, the market is segmented into automobile sales service terminals. The automobile sales service segment accounts for a majority share of the global car carrier market.

Global Car Carrier Market by Formulation, 2019

On the basis of region, the market is segmented into North America, Europe, APAC, South America, and MEA. Europe holds the majority of shares in the global Car Carrier Market. APAC follows Europe.

Further, the APAC is expected to register the highest growth rate owing to the economic growth of economies, resulting in increased production and consumption of commercial as well as passenger vehicles. The availability of a variety of car carriers for different modes of transportation is expected to fuel the growth of the market. Regions such as North America, MEA, and South America are expected to register stable growth over the forecast period.

The research report on the global car carrier market includes profiles of some of the major companies such as Mitsui & Co., Ltd., Nippon Yusen KK, K Line, EUKOR Car Carriers Inc., Miller Industries Inc, Tec Equipment, Inc., Boydstun Equipment Manufacturing, Landoll Corporation, etc.

Key Market Segments

Type

• Open-Air Car Carrier
• Enclosed Car Carrier

Application

• Automobile Sales Service
• Terminals
• Others

Key Market Players included in the report:

• Mitsui & Co. Ltd.
• Nippon Yusen KK
• K Line
• EUKOR Car Carriers Inc.
• Miller Industries Inc
• Tec Equipment Inc.
• Boydstun Equipment Manufacturing
• Landoll Corporation

For the Car Carrier Market research study, the following years have been considered to estimate the market size: