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The global terminal tractor market is projected to grow from USD 802 million in 2022 to USD 1,042 million by 2027, at a CAGR of 5.4%

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during the forecast period. Along with a huge reduction in fuel expenses, electric terminal tractors eliminate the need for several maintenance services, such as oil changes, transmission service, fan belt service, air filter service, and other traditional fuel-based engine services.

New York, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Terminal Tractor Market by Type, Drive, Tonnage, Propulsion, Application, Industry & Region - Global Forecast to 2027" - https://www.reportlinker.com/p05804589/?utm_source=GNW
Terminal tractor electrification also eliminates the need to completely replace the engine, as is the case with diesel engines at approximately 25,000 working hours.

Such advantages push terminal tractor manufacturers to develop and launch advanced electric versions.For instance, Terberg (Netherlands) introduced electric vehicles with new EV technology, which include the YT203-EV terminal tractor and the BC202-EV body carrier.

The performance of the YT203-EV terminal tractor’s electric drive system is comparable with that of diesel engines, and the large battery option offers a significantly greater operating range. Additionally, the new battery technology of the YT203-EV terminal tractor has an extended temperature range and can be used worldwide in very cold and warm climates.
Trade using naval transport offers reduced freight costs and is perfect for transporting heavy and bulky goods.As per the Organisation for Economic Co-operation and Development (OECD), the dominant transport mode used in global trade is maritime shipping: around 90% of traded goods are transported through the oceans.

Oceans are considered main transport arteries for global trade.

North America is expected to be the largest market for 4x2 terminal tractors due to the higher use in port terminals.

Terminal tractors with a tonnage capacity of <50 tons are used for stacking empty containers at port terminals as well as in the logistics sector. The growth in seaborne trade has resulted in the increasing transportation of heavy containers (>20 tons) at port terminals, which, in turn, has increased the demand for terminal tractors with a tonnage capacity of <50 tons.
Several companies offer terminal tractors.Kalmar, for instance, offers the T2E terminal tractor with a lifting capacity of 37 tons and 50 tons, according to the industry’s requirement.

HOVA offers 6x4 terminal tractors with a load capacity of 21-30 tons. Konecranes also offers terminal tractors having a load capacity of up to 50 tons.

Germany is estimated to be the largest market for terminal tractors in Europe
Germany is one of the leading warehousing markets in Europe due to its location, developed infrastructure, and technological expertise.Its strategic location that connects Eastern Europe to Western Europe has made it a popular warehousing destination.

Warehouses in Germany are bigger in size and better in quality.The warehousing market in Germany is driven by e-commerce.

For instance, as per International Trade Administration, the total e-commerce sales in Germany were approximately USD 83.1 billion for the year 2020, a 23% growth compared to 2019.
According to Germany Trade & Invest website, in 2020, the annual turnover of the logistics sector was about USD 264.4 billion, and it generated USD 16.9 billion in investments on average. The sector is currently facing challenges such as rising rents and space costs. German companies are creating new delivery models to enable same-day or 1-hour delivery due to the growing popularity of e-commerce and online shopping. Such factors are supporting the growth of the terminal tractor market in Germany.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
• By Company Type: Terminal Tractor OEM – 75% and End user organization– 25%
• By Designation: C Level - 35%, Directors- 40%, and Others – 25%
• By Region: Asia Pacific - 25%, Europe - 35%, North America –25%, and RoW-15%
Kalmar (Finland), Terberg Special Vehicles (Netherlands), Capacity Trucks (US), MAFI Transport-Systeme GmbH (Germany), and TICO Tractors (US) are the dominant players in the terminal tractor market.

Research Coverage:
The study segments the terminal tractor market and forecasts the market size based on application (warehouse & logistics, marine port, airport, and oil & gas), drive (4x2, 4x4, and 6x4), type (manual and automated), tonnage (<50 ton, 50–100 ton, and >100 ton), propulsion (diesel, electric, hybrid, CNG and hydrogen), logistics by industry (retail industry, food & beverages, inland waterways & marine service, rail logistics, and RoRo), and region (Asia Pacific, North America, Middle East & Africa [MEA], Europe, and the Rest of the World [RoW]).
The study also includes an in-depth competitive analysis of the major terminal tractor manufacturers in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall terminal tractor market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the market’s pulse and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05804589/?utm_source=GNW

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