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Demand for Terminal Tractor Market to Grow at a CAGR of 3.5% Through 2029

Fact.MR delivers key insights on the terminal tractors market in its published report, titled “Global Terminal tractors: Industry Analysis and Opportunity Assessment, 2019–2029”. In terms of revenue, the global terminal tractors market is foreseen to grow at a CAGR of 3.5% across forecast period, owing to numerous factors, about which FACT.MR offers thorough insights and forecasts in this report.

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The global terminal tractors market is classified on the basis of fuel type, product type, end use, ownership, application and region. In terms of fuel type, global terminal tractors market can be further classified as conventional fuel, alternative fuel (CNG/LNG) and electric terminal tractors. The conventional fuel and alternative fuel segment (CNG/LNG) can further classified as below 200 HP and above 200 HP. Owing to the better price to performance ratio, terminal tractors operated by conventional fuel appears to be the most remunerative segment in the global terminal tractors market.

The segment is foreseen to create overall incremental opportunity of over US& 61 Mn in global terminal tractor market by the end of the forecast period. Increasing fuel prices and stringent emission norms are some of the factors fueling the demand of electric terminal tractors. Electric terminal tractors is anticipated to register fastest growth over the forecast period. Furthermore, below 200 HP sub-segment remains the most preferred terminal tractor.

On the basis of end use the global terminal tractors market is further segmented as port terminal applications, intermodal facility and other application. The port terminal segment is to account for maximum share and expected to remain dominant over the forecast duration. Collectively, intermodal facility and other segment is foreseen to create incremental opportunity of around US$ 111.9 Mn by the end of forecast duration. In order to boost the work efficiency along with reduction of human errors, the adoption of automated terminal tractors is foreseen to auger well in the global terminal tractor market. The automated terminal tractors is foreseen to grow twice as fast as of the conventional segment.

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The global terminal tractors market is divided into seven geographies: North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa. North America appears to be the dominant among all the region in the global terminal tractor market. East Asia is foreseen to witness fastest growth over the forecast period in the global terminal tractor market.

Terminal Tractor Market Analysis by Ownership

This report assesses developments, enforcing the evolution potential of terminal tractors market on an international level and proposes distinctive insights and understandings that prove to be noticeably valuable for other budding market competitors in the global terminal tractors market

The North America terminal tractors market incorporates the analysis for Canada and U.S. owing to the high production of the automotive sector and large service sector have significantly boosted the terminal tractor marker in the region. US held a major share in North America terminal tractor market sales. This is due to the presence of large industries in the US as compared to Canada. However, Canada is foreseen to register significant growth by the end of the forecast duration. The Europe terminal tractors market incorporates country level review and analysis for France, United Kingdome, BENELUX, Germany, Spain, Italy, Russia and Rest of Europe.

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Significant increase in seaborne trade and seaport activities in the region are some of the prominent factor bolstering the demand for terminal tractors in the region. Owing to the above mentioned facts Port terminal segment holds over 80% value share in the region. Europe is foreseen to be the second largest market for terminal tractors market and expected to grow by gaining 73 Basis points by the end of the forecast period. Though the terminal tractors market for Italy is estimated to grow by gaining over 254 BPS in the foreseeable future. East Asia hold significant value share and foreseen to grow with an above average growth rate over the forecast period. Increasing international trade and port activities are some of the prominent factors fueling the demand for terminal tractors in the region. South Asia terminal tractors market incorporates study for countries like India, Malaysia, Indonesia Thailand and rest of South Asia. The region is foreseen to create incremental opportunity of US$ 30 Mn by the end of the forecast period.

Key players operating in the global market for terminal tractors, include Kalmar Inc, REV Group Inc., Terberg Group B.V., Konecranes Oyj, MAFI Transport-System GmbH, Hoist Material Handling, Inc., Mol CY nv, Orange EV, Autocar LLC and TICO Terminal Services.

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