December 11, 2019
According to the research report titled ‘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)’ available with Market Study Report LLC, the global terminal tractor market was worth US $623.8 million in 2018 and is expected to grow with a CAGR of 4.5% during the year 2019-2027, hence reaching US $908.1 million by the year 2027.
For the record, terminal tractors are used to move trailers and containers within a cargo facility. They can be operated remotely to pick up, place, and stack containers thus increasing productivity of a business.
Rising urbanization and globalization has paved the way for rise in international and domestic trade across the globe which in turn is driving the growth of terminal tractor market. Escalating investments in distribution & logistics sector for effective management across warehousing facilities is also aiding the market expansion. Technological advancements and expansion of transportation & automotive industry is also augmenting the demand for terminal tractors across the globe.
Based on type, terminal tractor market is categorized into manual and automated, whereas, in terms of propulsion type, the market is classified into electric, diesel, CNG, and hybrid. Speaking of application spectrum, terminal tractor market is bifurcated into logistics & distribution, material handling, RoRo terminals, and container terminals.
Considering the geographical landscape, the global terminal tractor market is divided into regions namely Europe, North America, South America, Middle East & Africa, and Asia-Pacific. The report cites that APAC terminal tractor market held the largest regional share as of 2019.
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The prominent companies operating in the global terminal tractor market are AB Volvo, Blyyd, Autocar LLC, Kalmar (Cargotec Corp.), Capacity Trucks (REV Group), Konecranes, Mol CY NV, MAFI Transport-Systeme GmbH, Terminal Investment Corp., and Terberg Group B.V. among others.
Notably, the analyzes terminal tractor market landscape using PEST analysis and offer expert opinions. It encompasses details about the regulatory landscape influencing the market. In-depth comprehension regarding market dynamics and prevailing trends is outlined in the study.
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