Terminal Tractor Market to Grow at a CAGR of 4.5% to reach US$ 908.1 Million from 2018 to 2027

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Terminal Tractor Market to 2027 - Global Analysis and Forecasts by Type (Automated, Manual); Propulsion Type (Diesel, Electric, Hybrid, CNG); Application (Material Handling, Logistics and Distribution, RoRo Terminals, Container Terminals)

Publication Month: Aug 2019 | Report Code: TIPRE00006373 | No. of Pages: 172 | Category: Automotive and Transportation | Status: Published

The global terminal tractor market is estimated to account US$ 623.8 Mn in 2018 and is expected to grow at a CAGR of 4.5% during the forecast period 2018 - 2027, to account to US$ 908.1 Mn by 2027.

Geographically, Asia Pacific holds the largest terminal tractor market share as the region consist of a huge number of container ports where the demand for the terminal tractor is high. Due to such factors, the Asia Pacific region would continue to grow. The government of the region is continuously focusing on increasing spending in automotive and transportation industries so that companies would adopt an automated terminal tractor to ease its business process.

 Lucrative Regional Terminal Tractor Market


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Terminal Tractor Market Insights

Advancements in the manufacturing sector tobe one of the major drivers

The global manufacturing industry has witnessed rapid growth in recent times owing to huge investments coming up from Governments of various countries and especially the developing economies. As per the China Federation of Logistics and Purchasing (CFLP), the global manufacturing purchasing managers index (PMI) accounted 55.1 in October 2017, which was down from 55.9 in September 2017 however, still at a comparatively high level. The PMI index remained above 53.5 since the beginning of 2017, signifying a steady recovery of the manufacturing sector in developed countries. This factor would be propelling the demand of terminal tractor market in the forecast period.

Growing needs of transportation amongst the increasingly complex supply chains

The logistical complexities have multiplied mainly due to the diverse nature of consumer demands observed in different regions of the world pertaining to any product. For successful market expansions, organizations focus on increasing the product assortments catering to the needs of the local market, giving rise to a highly diverse portfolio of products. The larger the diversity, the higher is the complexity of the supply chain for the organization to manage efficiently in delivering products as well as services. Therefore, the terminal tractor market across the globe is anticipated to grow.

Type Segment Insights

The terminal tractor market by component is segmented into hardware, and software & services. Terminal tractors are a type of tractors that are used to haul cargo and containers are used extensively in warehouses, ports, RoRo Terminal and other applications where it is required to transport cargo trailers from point to point within the boundaries of a specific facility, yard or terminal. Manual Terminal Tractors held the largest market share in the terminal tractor market in the year 2018 and is anticipated to continue its dominance during the forecast period by the year 2027.

Propulsion Type Segment Insights

Diesel being the most trust worthy in terms of generating torque is majorly used by most of the manufacturers. Diesel fuel is cheap in most of the region and produce the most torque, which is essential for crawling of terminal tractors at lower speed with huge load. The terminal tractor market has been segmented on the basis of propulsion type into diesel, electric, hybrid, and CNG. The diesel type segment led the terminal tractor market, by propulsion type in 2018 and it is anticipated to continue its dominance during the forecast period.

Application Segment Insights

The global terminal tractor market based on application has been segmented into material handling, logistics and distribution, container terminals, and RoRo terminals. Terminal tractors are used for various application that include inter facility material/cargo handling. A RoRo port terminal is considered as a continuous system made up of a succession of independent subsystems in order to simplify and facilitate the understanding as well as the improvement of each system independently and ultimately the terminal as a whole. The RoRo terminals segment led the global terminal tractor market, by application in 2018.

 Rest of Asia Pacific Terminal Tractor Market by Application

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Strategic Insights

Report Coverage - Terminal Tractor Market
Report CoverageDetails
Market Size Value inUS$ 623.8 Million in 2018
Market Size Value byUS$ 908.1 Million by 2027
Growth rateCAGR of 4.5% from 2019-2027
Forecast Period2019-2027
Base Year2019
No. of Pages172
No. of Tables84
No. of Charts & Figures79
Historical data availableYes
Segments coveredType ; Propulsion Type ; Application
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Some of the market initiatives were observed to be most adopted strategy in the global terminal tractor market. Few of the recent market initiatives are listed below:

2019:Kalmar announced its partnerships with NFI Industries, to supply 25 Kalmar Ottawa Electric T2E Terminal Tractors to be used in the distribution centers in California.
2019:Kalmar announced the inauguration of its new North American Customer Experience & Training Center. This new center handle USA’s mobile equipment business, which consist of counterbalance forklifts, empty container handlers, reach stackers, and terminal tractors.
2018:Kalmar signed a contract with SPT Services Sdn Bhd, for ordering 41 units of Kalmar TL2 Terminal Tractors.

GLOBAL TERMINAL TRACKER MARKET SEGMENTATION

Global Terminal Tractor Market – By Type

  • Automated
  • Manual

Global Terminal Tractor Market – By Propulsion Type

  • Diesel
  • Electric
  • Hybrid
  • CNG

Global Terminal Tractor Market – By Application

  • Material Handling
  • Logistics and Distribution
  • RoRo Terminals
  • Container Terminals

Global Terminal Tractor Market – By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of APAC
  • Middle EAST & Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa
  • South America

    • Brazil
    • Argentina
    • Rest of South America

Global Terminal Tractor Market - Company Profiles

  • AB Volvo
  • Autocar LLC
  • Blyyd
  • Capacity Trucks
  • Kalmar (Cargotec Corporation)
  • Konecranes
  • Mafi Transport-Systeme GmBH
  • Mol CY NV
  • Terberg Group B.V.
  • Terminal Investment Corporation

Crane Carrier Company, CVS Ferrari, Hoist Liftruck, Liebherr Corporation, Linde, Mafi, Orange Ev, Rev Group, SANY, and Tts are few other players from value chain in the terminal tractor market which are not profiled in the report but the can be included based on request.

The List of Companies

 

  1. AB Volvo
  2. Autocar LLC
  3. Blyyd
  4. Capacity Trucks
  5. Kalmar (Cargotec Corporation)
  6. Konecranes
  7. Mafi Transport-Systeme GmBH
  8. Mol CY NV
  9. Terberg Group B.V.
  10. Terminal Investment Corporation
  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the terminal tractor market, thereby allowing players to develop effective long term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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