New York, NY, April 04, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Terminal Tractor Market Share, Size, Trends, Industry Analysis Report, By Propulsion Type (Diesel, Electric, Hybrid, and CNG); By Type; By Application; By Region; Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research analysis, the global terminal tractor market size/share is anticipated to be valued at approximately USD 801.75 Million in 2022 and is projected to hit a revenue of around USD 1,245.08 Million By 2032, at a CAGR of around 4.5% between 2023 and 2032.”
What is Terminal Tractor? How Big is Terminal Tractor Market Share?
- Overview
A terminal tractor is a semi-tractor designed for the purpose of moving semi-trailers within cargo yards, warehouse facilities, or intermodal facilities. This is similar to how a switcher locomotive is used to position railcars. The terminal tractor market sales are being driven by a combination of factors, including an increased shipment of materials and infrastructure modernization, leading to the adoption of more advanced material handling practices across various industries.
Furthermore, stringent government emissions reduction regulations create opportunities for terminal tractor suppliers to upgrade existing diesel engines to comply with pollution grades and regulations. The rise of e-commerce also provides potential opportunities for terminal tractor manufacturers as businesses seek cost-effective solutions to handle large orders and shorten delivery times. These factors are potentially driving the terminal tractor market size.
Request Sample Copy of Terminal Tractor Market Research Report @ https://www.polarismarketresearch.com/industry-analysis/terminal-tractor-market/request-for-sample
(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Terminal Tractor Market Report Highlights
- Diesel segment accounted for the largest market share in 2022 due to a rise in engine upgradation and improvement activities undertaken by major companies.
- Automated segment is anticipated to grow at a rapid pace owing to its numerous advantages including low-environment impact, productivity, and ability to take decisions on its own.
- The material handling segment held the highest market share in 2022, which is mainly accelerated by an increase in the need and demand for a flexible, transparent supply chain, and modernization in the production process.
- North America region dominated the global market in 2022 owing to the presence of robust industrial infrastructure and the high prevalence of online shopping platforms among people.
Some of the Top Manufacturers Are:
- Terberg Special Vehicles
- Capacity Trucks
- TICO Tractors
- AB Volvo
- Kalmar
- Terminal Investment Corporation
- Autocar LLC
- Hyster-Yale Group
- MAFI Transport
- REV Group
- Konecranes
- CVS Ferrari
- SANY Group
- Kalmar
- Hoist Liftruck
To Know More Information on Key Players, Request to Download a PDF Report Brochure: https://www.polarismarketresearch.com/industry-analysis/terminal-tractor-market/request-for-sample
Market Dynamics: Prominent Drivers of the Market
- Increased productivity, energy saving, and low maintenance drive the demand worldwide
Due to the favorable business conditions and high investments in manufacturing, particularly in emerging economies, there will be an expected terminal tractor market growth during the forecast period. The rise of vehicle manufacturing in Asian countries is also a contributing factor. Additionally, there is a growing awareness among industry users of the benefits of terminal tractors, such as increased productivity, energy savings, and low maintenance, which is driving demand worldwide.
One of the major factors prompting users to switch to electric terminal tractors is the need for continuous fluid and filter changes in terminal diesel tractors. This maintenance requirement is much less frequent in electric terminal tractors, which is leading to increased demand for them and creating growth opportunities for the market.
Request for a Discount on this Report Before Purchase @ https://www.polarismarketresearch.com/industry-analysis/terminal-tractor-market/request-for-discount-pricing
Recent Trends Influencing the Market
The rise of e-commerce and the development of new technologies
- Orange EV launched its third-generation electric terminal tractor in June 2022; designed to integrate with autonomous controls seamlessly and has enhanced sensing features, an optional IntelliBoom package, and remote diagnostic capabilities. This electric tractor has a top speed of up to 40 Km/h and a 100 kWh battery capacity.
- The rise of e-commerce also provides potential opportunities for terminal tractor manufacturers as businesses seek cost-effective solutions to handle large orders and shorten delivery times.
Segmentation Assessment Outlook
- In 2022, the diesel segment held the most substantial market share
The diesel segment has the highest terminal tractor market share and is expected to grow due to its power efficiency and affordability. Key companies are enhancing the disadvantages of earlier models, further fueling the growth. The hybrid segment is also expected to grow, thanks to its fuel efficiency, reduced emissions, and high demand for electric equipment in developed countries.
- Significant market growth is anticipated for the automated segment
Based on type, the terminal tractor market segmentation is seeing growth in automated and manual segments. The automated segment is driven by the increasing focus on electrification and automation using innovative technology, resulting in higher productivity, lower environmental impact, and cost-efficient operations. On the other hand, the manual segment is popular due to its versatility in various operations and ability to work even if machines are not in perfect condition.
- The material handling segment dominated the market in 2022
The material handling segment led the market in 2022, holding a significant share due to its high efficiency in picking and transporting various goods and the demand for modernizing production processes and flexible supply chain and warehouse operations. Meanwhile, the RoRo terminals segment is expected to see significant growth, with its ability to work on slippery surfaces and effectively deliver loads into ferries or other modes of transport. The widespread adoption of RoRo tractors in large port facilities globally due to their comfort, productivity, and ease of handling contributes to this segment's growth.
Inquire more about this report before purchase @ https://www.polarismarketresearch.com/industry-analysis/terminal-tractor-market/inquire-before-buying
(Inquire about a report quote OR available discount offers to the sales team before purchase.)
Terminal Tractor Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 1,245.08 Million |
| Market size value in 2023 | USD 835.67 Million |
| Expected CAGR Growth | 4.5% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Terberg Special Vehicles, Capacity Trucks, MAFI Transport-Systeme GmbH, TICO Tractors, AB Volvo, Kalmar, Terminal Investment Corporation, Autocar LLC, Hyster-Yale Group Inc., REV Group Inc., Konecranes Oyj, CVS Ferrari S.p.A., SANY Group, Kalmar, and Hoist Liftruck. |
| Segments Covered | By Propulsion Type, By Type, By Application, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
- North America dominated the market in 2022
Terminal tractor market demand in the North America region dominated the terminal tractors market in 2022, holding a significant market share. The growing traffic volume at several terminals in the United States and Canada has contributed to this dominance. Moreover, industry users in the region recognize the long-term benefits of terminal tractors, such as substantial energy savings and low maintenance requirements, which are expected to increase the demand across the region.
On the other hand, Asia Pacific (APAC) registered the highest growth in the global market over the study period. This growth is mainly driven by the high adoption rate of innovative automation technologies and equipment, resulting in increased productivity levels. In APAC, growing trade activities and access to recreation opportunities, coupled with the rapid shift towards e-commerce platforms, are also propelling the growth and demand for terminal tractors in the region.
Browse the Detail Report “Terminal Tractor Market Share, Size, Trends, Industry Analysis Report, By Propulsion Type (Diesel, Electric, Hybrid, and CNG); By Type; By Application; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/terminal-tractor-market
For Additional Information OR Media Enquiry, Please Mail At: sales@polarismarketresearch.com
Recent Development
- Cummins revealed its latest EV powertrain, the PowerDrive 8000 system, in December 2021, tailored specifically for terminal tractors to fulfill their duty cycle and power needs. The powertrain can accommodate various vehicle configurations and efficiently handle weights ranging from 80,000 lbs. to 195,000 lbs.
Frequently Asked Questions
- How much is the market worth?
- Who are the key players that manufacture & distribute tractors in the market?
- Which region is expected to have the highest growth over the coming years?
- What are the various trends in the market?
- What are the prominent growth drivers of the market?
- What recent developments are contributing to industry growth?
Polaris Market Research has segmented the terminal tractor market report based on propulsion type, type, application, and region:
By Propulsion Type Outlook
- Diesel
- Electric
- Hybrid
- CNG
By Type Outlook
- Manual
- Automated
By Application Outlook
- Material Handling
- Logistics & Distribution
- RoRo Terminals
- Container Terminals
- Retail
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Browse More Research Reports:
- Green Coatings Market: https://www.polarismarketresearch.com/industry-analysis/green-coatings-market
- Food Decoration and Inclusions Market: https://www.polarismarketresearch.com/industry-analysis/food-decorations-and-inclusions-market
- Hospital Stretchers Market: https://www.polarismarketresearch.com/industry-analysis/hospital-stretchers-market
- Gift Retailing Market: https://www.polarismarketresearch.com/industry-analysis/gifts-retailing-market
- Electric Vertical Take-off and Landing Vehicles (eVTOLs) Aircraft Market: https://www.polarismarketresearch.com/industry-analysis/electric-vertical-take-off-and-landing-vehicles-evtols-aircraft-market
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
Contact:
Likhil G
30 Wall Street
8th Floor,
New York City, NY 10005,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Follow Us: LinkedIn | Twitter
Blog: https://polarismarketresearch.medium.com
