Selbyville, Delaware, March 06, 2024 (GLOBE NEWSWIRE) --
The terminal tractor market valuation is expected to cross USD 2.3 billion by 2032, as reported in a research study by Global Market Insights Inc.
The industry growth is backed by increasing demand for efficient and sustainable transportation solutions in logistics & distribution sector. Terminal tractors offer versatility and maneuverability in moving trailers and containers within confined spaces, enhancing operational efficiency, and reducing turnaround times. Additionally, the expansion of e-commerce and the rise of omnichannel retailing contribute to the growing product need to handle the movement of goods in warehouses and fulfillment centers.
The technological innovations enable real-time monitoring of vehicle performance, predictive maintenance scheduling, and remote diagnostics, improving fleet management and reducing downtime. Additionally, the emphasis on driver comfort and ergonomics in terminal tractor design enhances operator productivity and reduces fatigue-related incidents, further boosting market demand. In September 2023, Orange EV unveiled its contemporary HUSK-e® Series Terminal Trucks, boasting enhancements in pulling power, speed, acceleration, and battery capacity. The new models promised improved performance, with a focus on increased efficiency and productivity in terminal operations.
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The terminal tractor market from the hybrid-powered segment is poised to witness sustained demand through 2032, as they offer a sustainable and cost-effective solution for transportation operations in logistics & distribution centers. By combining traditional combustion engines with electric propulsion systems, hybrid-powered terminal tractors reduce fuel consumption, emissions, and operating costs while enhancing energy efficiency and performance. Additionally, the versatility and flexibility of hybrid technology allow terminal tractor operators to switch between power sources based on operational requirements, providing greater adaptability and reliability in diverse operating environments.
Warehousing segment is project to generate notable revenues for the market during 2023-2032. The expansion of e-commerce and the increasing demand for rapid order fulfillment have led to the proliferation of large-scale distribution centers and warehouses. The trend towards automation & technological advancements boosts the demand for terminal tractors equipped with advanced features such as automated guidance systems and remote monitoring capabilities. Additionally, the growing emphasis on safety and ergonomics drives the adoption of terminal tractors with enhanced safety features and operator comfort, contributing to segmental growth.
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Europe terminal tractor market is touted to expand at a rapid pace till 2032. The increasing focus on sustainability and environmental regulations in the region supports the demand for terminal tractors powered by electric or alternative fuels. European countries have stringent emission standards, encouraging the adoption of cleaner transportation solutions. The technological advancements such as telematics systems and automation features enhance the efficiency and safety of terminal tractors. Furthermore, government initiatives promoting infrastructure development and the modernization of transportation fleets, will boost the regional industry growth.
Major players in terminal tractors market place are Capacity Trucks, TICO Tractors, Kalmar, Terberg Special Vehicles, MAFI Transport - Systeme GmbH, Sany Group, and Molcy.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Terminal tractor market 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Regional trends
2.4 Drive type trends
2.5 Tonnage trends
2.6 Industry trends
Chapter 3 Terminal Tractor Market Insights
3.1 Impact of COVID-19
3.2 Industry ecosystem analysis
3.3 Vendor matrix
3.4 Profit margin analysis
3.5 Tonnage & innovation landscape
3.6 Patent analysis
3.7 Key news and initiatives
3.7.1 Partnership/Collaboration
3.7.2 Merger/Acquisition
3.7.3 Investment
3.7.4 Product launch & innovation
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 Rise in the production of connected and autonomous vehicles
3.9.1.2 High focus on technological advancements
3.9.1.3 Reduction in insurance costs
3.9.1.4 Safety and regulatory compliance
3.9.2 Industry pitfalls & challenges
3.9.2.1 Increasing environmental regulations
3.9.2.2 Interference from other vehicles or electronic drive types can lead to false detections
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
