Pune, India, July 05, 2022 (GLOBE NEWSWIRE) -- The global terminal tractors market is likely to gain impetus from the high demand for efficient cargo-handling solutions across local distribution, terminals, ports, and ships. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Terminal Tractors Market Size, Share & Industry Analysis and Regional Forecast, 2020-2027” The report further states that terminal tractors have high reliability, provide excellent maneuverability, can move bulky goods efficiently, and provide fast turnaround time.
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Some of the Leading Companies Profiled in the Market:
- Kalmar
- TICO TRACTORS
- AUTOCAR, LLC.
- TERBERG SPECIAL VEHICLES
- Konecranes
- MAFI Transport-Systeme GmbH
- Hoist Material Handling, Inc.
- Mol
- Orange EV.
- Other key market players
This Report Answers the Following Questions:
- Which companies are set to generate the largest revenues?
- What are the historical, present, and estimated sizes of the market?
- How will the outbreak of the COVID-19 pandemic affect the market in near future?
- What are the significant strategies followed by key players to surge sales of terminal tractors?
Drivers & Restraints:
Rising Concern about Warehouse Management to Surge Demand
The rising trade volume across the globe is set to propel the terminal tractors market growth. Apart from this, warehouse operators and owners are concerned about warehouse management nowadays. The rising usage of e-commerce platforms is compelling the owners to shift towards automation handling from manual processes for balancing the supply chain ecosystem. Also, the evolution of semi-autonomous and autonomous processes is expected to surge the demand for terminal tractors. This is happening because of the urgent need to move products easily across all the accessible service points. However, frequent fluctuations in the freights at port-to-port results may raise the cost of the overall consignment. This factor may hinder growth.
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Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2021 |
| Historical Year | 2018 – 2020 |
| Forecast Year | 2022 – 2029 |
| Segments Covered | By Fuel Type, By Technology, By Application |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2020 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Kalmar, TICO TRACTORS, AUTOCAR, LLC. TERBERG SPECIAL VEHICLES, Konecranes, MAFI Transport-Systeme GmbH, Hoist Material Handling, Inc., Mol, Orange EV. and others. |
| Terminal Tractors Market | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Regional Analysis:
The emergence of Industry 4.0 & Smart Factories to Spur Growth in Asia Pacific
Geographically, North America is anticipated to lead throughout the forthcoming years by generating the largest terminal tractors market share. This growth is attributable to the presence of numerous third-party logistics solutions providers and reputed manufacturers in this region. Besides, the rising usage of automated warehouses solutions and increasing number of distribution centers in the U.S. are likely to aid growth.
Asia Pacific, on the other hand, is set to grow significantly backed by the expansion of the e-commerce industry. Coupled with this, the presence of several container ports, unorganized, and organized companies in China would bolster the demand for terminal tractors in this region. In addition to this, the emergence of smart factories and Industry 4.0 in this region is making the distribution centers & warehouse owners install terminal tractors for managing the operational workflow.
Competitive Landscape:
Key Companies Aim to Engage in Signing New Agreements to Strengthen Position
The market for terminal tractors is fragmented with the presence of numerous reputed companies. They are mainly engaging in signing agreements with the other key players to improve their existing fleet. Some of the others are trying to gain new orders from renowned firms to strengthen their positions. Below are two latest industry developments:
- August 2020: Kalmar signed an agreement with Saigon Newport Corporation (SNP) to provide Kalmar Essential Terminal Tractor TL2. It would provide 25 units of the product at the Cat Lai Terminal. They would eventually replace the company’s pre-existing terminal tractor fleet.
- August 2020: Kenya Ports Authority (KPA) invested Sh273.4 million on 30 terminal tractors. This new deal would boost the cargo handling capacity at the Inland Container Depot, Nairobi and the Port of Mombasa.
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