Trailer Terminal Tractor Market
Trailer Terminal Tractor Market By Fuel Type (Diesel/Gasoline, HEV, BEV), By Number of Axles (Single Axle, Multi Axles), By End users (Port, Industrial), By Tonnage, ByTechnology, By Region - Global Forecast 2020-2030
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.
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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, trailer terminal tractors 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.
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.
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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.
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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.
“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.
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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