High Demand for Automated Terminal Tractors Across the World, Owing To Revolution In The Retail Sector

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.

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.

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Key players operating in the global market for terminal tractors

  • 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
  • TICO Terminal Services.

Terminal Tractor Market Analysis by Ownership

Key Segments of Terminal Tractor Market

Fact.MR’s study on the terminal tractor market offers information divided into five key segments – fuel, end use, product, ownership, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories for the better understanding of readers.

Fuel

  • Conventional Fuel
    • Below 200 HP
    • Above 200 HP
  • Alternative Fuel (CNG/LNG)
    • Below 200 HP
    • Above 200 HP
  • Electric

End Use

  • Port Terminals
  • Intermodal Facilities
  • Other Applications

Product

  • Conventional
  • Automated

Ownership

  • Rental
  • Industrial & Commercial

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa (MEA)

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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.

Key Takeaways from Terminal Tractor Market Study

  • By fuel, conventional fuel terminal tractors are set to hold a share-wide market dominance with over 90% of the total market value by the end of forecast period.
  • By end use, port terminals are projected to expand at a value CAGR of 3% and be valued 2.8X more than intermodal facilities by the end of 2020.
  • By ownership, the industrial and commercial segment is anticipated to expand 1.4X by gaining 90 BPS over the course of the forecast duration.
  • The terminal tractor market in East Asia is expected to grow the fastest by experiencing a value CAGR of over 4%, whereas, North America is projected to be valued 2.3X than East Asia and account for a major chunk of the demand pie by the end of the forecast period.

“Suspension of manufacturing and logistics activities amidst the COVID-19 pandemic will lead to short-term implications on the demand for terminal tractors.However, the market is set to regain traction over the coming years, owing to revolution in the retail sector, emergence of e-Commerce platforms, and increase in seaborne trade activities, which will create high demand for terminal tractors across the world,”says a Fact.MR analyst.

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Strategic Agreements to Remain Key Strategy in Terminal Tractor Market

Key players in the terminal tractor market are Kalmar Inc., REV Group Inc. Terberg Group B.V., Konecranes Oyj, MAFI Transport-System GmbH, CVS Ferrari, Volvo AB, Hoist Material Handling, Inc., Mol CY nv., TICO Terminal Services, and AUTOCAR LLC., among others. Prominent players are continuously focusing on maintaining agreements with several clients to expand their global footprints. Through such agreements, companies are focusing on broadening their customer base and gaining a competitive edge over other players. For instance,

  • In 2020, Kalmar Inc., entered into an agreement with Australian company Nyrstar for the supply of heavy terminal tractors. Through this agreement, the company will supply 3 terminal tractors – TR618i, which are designed for moving heavy loads in any condition and also comply with EU Stage V emission norms.
  • In 2020, Terberg Group entered into an agreement with the Port of Helsingborg, a Swedish container specialist, for the supply of YT203-EV electric terminal tractors. These electric terminal tractors will have a battery pack capacity of 222 kWh, which will enable the port to save on maintenance and diesel.

Key Questions Answered in Fact.MR’s Terminal Tractor Market Report

  • Which regions will continue to remain the most profitable regional markets for terminal tractor market players?
  • Which factors will induce a change in the demand for terminal tractors during the assessment period?
  • How will changing trends impact the terminal tractor market?
  • How can market players capture the low-hanging opportunities in the terminal tractor market in developed regions?
  • Which companies are leading the terminal tractor market?
  • What are the winning strategies of stakeholders in the terminal tractor market to upscale their position in this landscape?

Find More Valuable Insights on Terminal Tractor Market

Fact.MR, in its new offering, brings to fore an unbiased analysis of the global terminal tractor market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges compelling insights on the terminal tractor market based on fuel (conventional fuel [below 200 HP and above 200 HP], alternative fuel [below 200 HP and above 200 HP], and electric), end use (port terminals, intermodal facilities, and others), product (conventional and automated), and ownership (rental and industrial & commercial), across seven regions.

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