Car Carrier Market

Global Car Carrier Market Size, Share & Trends Analysis Report By Type (Open-Air Car Carrier and Enclosed Car Carrier), By End User (Automotive Sales Service Shop 4S, Terminals, and Others), By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23415 Publication Date: July-2024 Number of Pages: 164
2023
USD 13.1 Billion
2031
USD 22.8 Billion
CAGR
7.3%
Historical Data
2020 to 2022

Market Report Description

The Global Car Carrier Market size is expected to reach $22.8 billion by 2031, rising at a market growth of 7.3% CAGR during the forecast period.  

In the United States, the automotive industry saw significant growth in 2023, with light vehicle sales reaching nearly 15.5 million units, according to the National Automobile Dealers Association (NADA). Major automotive manufacturers and a well-established logistics infrastructure have supported North America's market expansion. Therefore, the North America region acquired $3,668.95 million revenue in the market in 2032. The region's focus on enhancing supply chain efficiency and adopting innovative transportation solutions has driven this notable growth rate. The increasing demand for car carriers in the region has been influenced by the advancements in automotive technology and the increase in demand for electric vehicles (EVs).

Car Carrier Market Size - Global Opportunities and Trends Analysis Report 2020-2031

With burgeoning demand for automobiles worldwide, manufacturers are ramping up their production volumes to meet consumer needs and capitalize on market opportunities. This surge in manufacturing output necessitates robust transportation solutions that can efficiently move vehicles from production sites to distribution hubs, dealerships, and end customers. Hence, the market is poised to grow as the automotive sector continues evolving with technological advancements and shifting towards electric and autonomous vehicles.

Additionally, many automotive manufacturers now produce vehicles in one country and export them to others, a trend driven by the advantages of cost-effective production, diverse market access, and strategic distribution networks. As a result, the need for sophisticated logistics and transportation solutions has become more critical, driving the demand for car carriers capable of handling the complex requirements of international trade. Thus, the globalization of the automotive industry has led to a significant increase in the cross-border trade of vehicles, driving the demand for reliable and efficient car carrier services.

However, Inadequate transportation infrastructure encompasses various factors, such as poor road conditions, limited accessibility to key distribution hubs, and traffic congestion. The smooth and timely conveyance of vehicles can be significantly impeded by each of these issues, resulting in numerous operational inefficiencies. Vehicle conveyance can be impeded by poor road conditions, such as uneven surfaces, potholes, and inadequate maintenance. This can result in lost sales opportunities and diminished customer trust. Hence, infrastructure limitations present a substantial barrier to the efficient functioning of the car carrier market.

Driving and Restraining Factors
Car Carrier Market
  • Increasing Automotive Production And Sales
  • Rising Globalization And International Trade
  • Technological Advancements In Logistics And Transportation
  • Inadequate Transportation Infrastructure
  • Stringent Regulations Governing Vehicle Transportation
  • Expansion Of The Electric Vehicle (Ev) Sector
  • Growing Automotive Aftermarket And Leasing Markets
  • Heightened Competitive Pressures
  • High Cost Of Fuel, Maintenance, Insurance, And Compliance

End User Outlook

On the basis of end user, the market is classified into automotive sales service shop 4S, terminals, and others. The automotive sales service shop 4S segment acquired 51% revenue share in the market in 2023. These 4S shops, which encompass sales, spare parts, service, and survey, are integral to the automotive retail and service ecosystem. Their demand for reliable and efficient car transport solutions is high, as they need to move new vehicles frequently from manufacturers to showrooms and handle customers' cars for servicing and maintenance purposes.

Car Carrier Market Share and Industry Analysis Report 2023

Type Outlook

Based on type, the market is characterized into open-air car carrier and enclosed car carrier. The enclosed car carrier segment procured 33% revenue share in the market in 2023. Enclosed car carriers are designed to provide superior protection for vehicles, shielding them from adverse weather conditions, road debris, and other potential damages during transit. This segment is particularly popular among customers transporting high-value, classic, or luxury cars where maintaining the vehicle's condition is paramount.

Free Valuable Insights: Global Car Carrier Market size to reach USD 22.8 Billion by 2031

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment witnessed 43% revenue share in the market in 2023. The automotive industry's accelerated expansion in countries such as China, Japan, South Korea, and India is the primary factor contributing to this dominance. The region's significant vehicle production volumes, burgeoning consumer base, and increasing vehicle exports have driven the high demand for car carrier services.

Car Carrier Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 13.1 Billion
Market size forecast in 2031 USD 22.8 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 7.3% from 2024 to 2031
Number of Pages 164
Number of Tables 250
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Type, End User, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Infinity Trailers, Miller Industries, Inc, Dongfeng Motor Company, Cottrell, Inc., Kentucky Trailers (Berkshire Hathaway, Inc.), Landoll Corporation, Boydstun Equipment Manufacturing, Sun Country Trailers, Wally-Mo Inc, Kaufman Trailers
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List of Key Companies Profiled

  • Infinity Trailers
  • Miller Industries, Inc
  • Dongfeng Motor Company
  • Cottrell, Inc.
  • Kentucky Trailers (Berkshire Hathaway, Inc.)
  • Landoll Corporation
  • Boydstun Equipment Manufacturing
  • Sun Country Trailers
  • Wally-Mo Inc
  • Kaufman Trailers

Car Carrier Market Report Segmentation

By Type

  • Open-Air Car Carrier
  • Enclosed Car Carrier

By End User

  • Automotive Sales Service Shop 4S
  • Terminals
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
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