Trailer terminal tractors find applications in ports, container terminals, distribution and logistics centers and industrial sites among others. The global trailer terminal tractor market is projected to reach market value of nearly US$ 700Mn by 2030, according to a recent report published by Fact.MR.
Efficiency of Trailer Terminal Tractors Fueling Adoption
Trailer terminal tractors have various features which make them a pragmatic option to end-users. These include flexible maneuverability, high reliability, easy access to service points and low turnaround time in project completion.
Over the years, there has been substantial improvement in trailer terminal tractors, which has furthered their adoption by end-users.
Other than this, advancements in different variants such as liquefied natural gas (LNG) trailer tractors, autonomous trailer tractors and electric trailer tractors have introduced these tractors in novel applications.
COVID-19 Impact on Trailer Terminal tractor Market
The ongoing pandemic has slowed growth for many industries. With production and transport impacted heavily due to the lockdown restrictions, market has faced a slowdown since March 2020.
Businesses for various modes of transport including cargo were hampered in order to maintain social distancing rules. Also, the lack of labor during the lockdown has had a negative impact on the industry along with issues is supply of raw materials.
However, the effect of the pandemic is not likely to have a long term impact on the industry. With measures being taken by countries to control the spread of virus as well as focus on vaccine invention and ongoing trials, the industry is hopeful of regaining its growth by 2022.
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Trailer Terminal Tractor Market Insights by Fuel Type
Diesel and gasoline operated trailer terminal tractors continue to be preferred. However, hybrid electric vehicles (HEV) and battery operated electric vehicles (BEV) are expected to display excellent growth during the forecast period, according to Fact.MR.
Growing concerns regarding rising pollution levels and subsequent harmful effects on the environment are demanding strict policies and their implementation to maintain a healthy eco system.
Stricter regulations on emissions from vehicles are propelling the expansion of BEV market in the future. To cash in on the opportunity, several manufacturers are coming up with fully electric tractor terminals and the trend is expected to continue during the forecast period.
Trailer Terminal Tractors Market Insights by Tonnage
Trailer terminal tractors are classified based on the amount of weight they can carry. This classification helps in understanding the efficiency of the vehicle.
The vehicles with capacity to carry a load of more than 100 tons are predicted to show a slow growth throughout the forecast period, as higher load carrying capacity vehicles have limited uses and find applications only in specific industries.
Meanwhile, the vehicles carrying 50 to 100 tons of load are expected to see maximum growth by the end of 2030.
However, terminals with load carrying capacity of less than 50 tons continue to be the top-selling variants globally.
Trailer terminal tractors Market Insights by Number of Axles
Single axle vehicles are the largest segment, based on number of axles. The market for single axle trailer terminal tractors is expected to reach US$ 600 Mn by 2030-end.
However, multi-axle vehicles are expected to witness fluctuations in the market with respect to growth and revenue.
Trailer terminal tractors Market Insights by End users
Ports across the world handle majority of cargo owing to heavy transportation of containers. The high activity makes ports as highest users of trailer terminal tractors covering more than half of the market. This is expected to continue throughout the forecast period with a growth rate hovering around 4%.
Other important end users of these vehicles are the various industries, prominently food and beverages, oil and gas and other heavy industries. The industrial segments are expected to show a positive growth to reach market value of nearly US$ 300 Mn by end of 2030.
Trailer terminal tractors Market Insights by Technology
Adoption of technology in order to increase efficiency and reduce human error is expected to fuel growth of autonomous trailer terminal tractors during the forecast period 2020-2030.
The segment is projected to witness a significant growth by the end of 2030 along with semi-autonomous tractors. However, the market currently continues to be ruled by manual tractors.
Regional Outlook on Trailer Terminal Tractor Market
North America trailer terminal tractor market continues to enjoy majority of the market share with a projected market value of more than US$ 300 Mn by the end of forecast period 2020- 2030, with countries like US and Canada leading from the front.
The presence of major manufacturing and logistics companies in the area are the key reasons behind the growth of the regional market.
Europe and Asia Pacific are expected to register significant growth during the forecast period. With more companies looking to expand their footprints to Asian and European markets, the growth is expected to sustain during the next decade.
Furthermore, many companies are looking to invest in Asian countries such as India and hence shifting their bases to the region. This shift is expected to propel the regional trailer terminal tractor market further.
Trailer Terminal Tractor Market - Competitive Landscape
Companies in the global trailer terminal tractor market are looking at product innovations and new product launches to gain advantage over competitors.
For instance, Kalmar, which is a part of Cargotec is coming up with a new tractor with zero emissions for trailer handling. The new vehicle is designed essentially for short travels, for warehouses which are dispersed and container terminals.
This new launch is also expected to meet demand for cheaper electrically powered solutions in the region, with easy to operate and maintain features.
Key players operating in the global trailer terminal tractor market include
- AB Volvo
- AUTOCAR, LLC.
- BYD Company Limited
- CAPACITY TRUCKS
- CARGOTEC (Kalmar)
- CVS FERRARI S.P.A.
- Hoist Liftruck Mfg.
- LLC, Konecranes
- MAFI Transport Systems GmbH
- Mol CY nv
- Orange EV
- SINOTRUK (HONG KONG) LIMITED
- TERBERG SPECIAL VEHICLES and
- TICO TRACTORS.
Analyst’s Viewpoint
“Rising emphasis on environmental health is likely to propel growth in the automation segment of the trailer terminal tractor market in the upcoming forecast period. However, in developing countries the awareness regarding harmful impacts of manual vehicles is needed to reduce its applications and push users towards more sustainable options like BEV”
Trailer Terminal Tractor Market – Scope of the Report
Fact.MR has published an exclusive report on the Trailer Terminal Tractor Market which offers insights for the period 2020-2030. The foremost objective of this report is to provide insights on the market scenario, demand generation, and technological advancements in the Trailer Terminal Tractor Market. Also, the study addresses key dynamics expected to diversify the sales and future prominence of the market.
The report begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the trailer terminal tractor market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the activated carbon market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for activated carbon.
A recent study by Fact.MR on the Trailer Terminal Tractor Market offers a 10-year forecast from 2020 to 2030. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with the manufacturing of Trailer Terminal Tractor. The study also provides the dynamics that are responsible for influencing future status of the Trailer Terminal Tractor Market over the forecast period.
A detailed assessment of the Trailer Terminal Tractor value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the Trailer Terminal Tractor Market, along with their product portfolios, enhances the reliability of this comprehensive research study.
Trailer Terminal Tractor Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales in the Trailer Terminal Tractor Market across the globe.
A comprehensive estimate on the Trailer Terminal Tractor Market has been provided through an optimistic as well as a conservative scenario, taking into account the sales during the forecast period. Price point comparison by region with global average price is also considered in the study.
Trailer Terminal Tractor Market – Segmentation
Fact.MR’s research study assesses the global Trailer Terminal Tractor Market in terms of raw material, form, application and region. This report presents extensive market dynamics and trends associated with different segments of the market and their influence on the growth prospects of the global Trailer Terminal Tractor Market.
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Key Questions Answered in Fact.MR’s Trailer Terminal Tractor Market Report
- Which regions will continue to remain the most profitable regional markets for trailer terminal tractor market players?
- Which factors will induce a change in the demand for trailer terminal tractor during the assessment period?
- How will changing trends impact the trailer terminal tractor Market?
- How can market players capture the low-hanging opportunities in the trailer terminal tractor market in developed regions?
- Which companies are leading the trailer terminal tractor Market?
- What are the winning strategies of stakeholders in the trailer terminal tractor market to upscale their position in this landscape?
Trailer Terminal Tractor Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the trailer terminal tractor market report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic and business environment outlook), which are expected to have a momentous influence on the growth of the Trailer Terminal Tractor Market during the forecast period.
Country-specific valuation on demand for trailer terminal tractor market has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Trailer Terminal Tractor Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the trailer 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 drawn conclusions.
Secondary resources referred to by analysts during the preparation of the trailer terminal tractor market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the trailer terminal tractor market report as a primary resource.
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Trailer Terminal Tractor Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030