Through the first half of 2024, the truck and trailer market continues to show signs of stabilizing. The market recovery from the excess capacity that originated during the pandemic due to an increase in new trucking companies has been slow. While there has been a reduction in the number of operating carriers, the adjustment and recovery have been slow. According to an article by Trailer/Body Builders, “The good news: The pandemic disruption and recovery have largely run their course, and traditional market cycles seem to be falling into place. The bad news: The freight cycle bottomed out in 2023, and the rebound remains on the horizon; that means that the heavy-duty trailer and truck markets can expect a down year in 2024.”
Companies are encouraged to focus on new trends as the market recovers to maintain competitiveness. Chris Bouchard writes, “The trailer industry is undergoing a transformative period, marked by innovative designs, technological advancements, and a heightened focus on sustainability. Encompassing recreational trailers to tractor trailers, several trends are shaping the future of this essential automotive industry sector.”