The global Terminal Tractor market gathered revenue around USD 700 Million in 2020 and market is set to grow USD 992 Million by the end of 2027 and is estimated to expand at a modest CAGR of 5.1% during the prediction period 2021 to 2027.
Growth Factors:
Terminal tractors are primarily used to handle forty or twenty-foot equivalent units (TEU) in port warehouses and terminals. These tractors, also known as shunt trucks, yard trucks, or spotting trucks, have witnessed a surge in sales growth in recent years. They are mostly diesel-based. The demand for electric terminal tractors is also observed to have increased in the recent past, which is expected to further pick momentum as the prices of the batteries go down. North America remains the key market for terminal tractors, though the demand is also increasing in Europe, and Asia Pacific.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Terminal Tractor market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Terminal Tractor market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope |
Details |
| Market Size |
USD 992 Million by 2027 |
| Growth Rate |
CAGR of 5.1% From 2021 to 2027 |
| Base Year |
2020 |
| Forecast Period |
2021 to 2027 |
| Historic Data |
2017 to 2020 |
| Report coverage |
Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered |
Propulsion Type, Application and region |
| Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned |
Kalmar, Terberg Special Vehicles, Capacity Trucks, MAFI Transport-Systeme GmbH , and TICO Tractors. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Terminal Tractor market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America is estimated to be the largest market in 2020
The North American region comprises the US, Canada, and Mexico. According to the World Bank Statistics, globally, the US handled the second-largest containerized trade of around 56.2 million TEU in 2019, after China. The US was also the major contributor to the overall terminal tractor sales approximately 92% in the North American region in 2020.
The growth of the US market can be attributed to a large industrial base in the country, comprising automotive manufacturing, aerospace and defense, and industrial verticals. Other port terminals in North America, such as Southern Californian ports of Los Angeles and Long Beach, Maher Terminal in New York, WBCT Terminal in Los Angeles, and ITS and Husky Terminals on the West Coast, also handle millions of TEU every year. The traffic in these terminals is constantly increasing, bringing lucrative business opportunities for terminal tractor manufacturers. Thus, the region is estimated to dominate the terminal tractor market with a 46.0% share in 2020.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Terminal Tractor Market include: Kalmar, Terberg Special Vehicles, Capacity Trucks, MAFI Transport-Systeme GmbH , and TICO Tractors
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Diesel
Hybrid
Electric
Inland Waterways and Marine
Railways
Other Applications
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Terminal Tractor market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Terminal Tractor market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Terminal Tractor markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Terminal Tractor market Study:
- Growth of Terminal Tractor in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Terminal Tractor and How to Navigate
- Key Product Innovations and Regulatory Climate
- Terminal Tractor Consumption Analysis
- Terminal Tractor Production Analysis
- Terminal Tractor and Management
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