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The terminal tractor market is projected to grow from USD 718 million in 2021 to USD 877 million by 2026, at a CAGR of 4.1%

·5-min read

during the forecast period. There has been a significant increase in international trade over the years. However, in 2020, factors like COVID-19, regional disparities, weakness in trade, and lagging vaccination timetables, particularly in poor countries, resulted in the decline in global trade quantities and valuation.

New York, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Terminal Tractor Market by Type, Tonnage, Propulsion, Application, Industry And Region - Global Forecast to 2026" - https://www.reportlinker.com/p05804589/?utm_source=GNW

However, a strong rebound in global trade with the recovery of major industries across the globe since the middle of last year has helped soften the impact of the pandemic for trade.The global economic recovery is also expected to be fueled by the higher production of vaccines and vaccination rates, allowing businesses to reopen more quickly.

According to World Trade Organization (WTO), the volume of world merchandise trade is expected to increase by 8.0% in 2021 after having fallen 5.3% in 2020, continuing its rebound from the pandemic-induced collapse that bottomed out in the second quarter of 2020.
Trade through seaway offers competitive freight costs and is ideal for transporting heavy and bulk goods.As per the Organisation for Economic Co-operation and Development (OECD), the main transport mode for global trade is ocean shipping: around 90% of traded goods are carried over the waves.

As such, the oceans provide the main transport arteries for global trade.

As per the development statistics and information branch of the United Nations Conference on Trade and Development (UNCTAD), the international maritime trade for goods loaded achieved a volume of 11.08 billion tons in 2019. This was achieved due to the rising global population, growing global Gross Domestic Product (GDP), increasing disposable income, especially in Asian countries, and rising standards of living.

The rail freight industry has shown substantial growth in 2020.With the COVID-19 pandemic impeding sea and air transport, the freight-train service emerged as a reliable choice in global logistics thanks to its safety, stability, and efficiency.

According to Global Times, in 2020, the China-Europe freight-train service recorded more than 40,000 trips, with the transported goods valued at over USD 200 billion.
A lot of goods are exported from Asia (China in particular) into Europe.According to CBS (the Dutch national statistical office), in 2018 alone, goods worth USD 5 billion were transported from China to the Netherlands.

Many organizations in the Netherlands and the rest of Europe depend on key countries like China when it comes to the sourcing of consumer goods and raw materials.
The global export of goods related to different industries, including automotive, chemical, agriculture, textile, and pharmaceutical, has also increased in recent years.The increased trade across different industries would subsequently lead to the growth in container transportation through seaways.

The increase in containerized trade will, in turn, lead to an increase in the number of containers handled daily at port terminals, thereby increasing the demand for efficient and faster handling of containers. The global containerized trade is expected to drive the port equipment market, subsequently driving the terminal tractor market.

The 4x2 terminal tractors segment is expected to lead the drive segment due to the higher use in port terminals.

Terminal tractors, available in the 4x2, 4x4, and 6x4 versions, can carry empty as well as laden containers.Kalmar, Konecranes, MAFI Transport-Systeme GmbH, Terberg Special Vehicles, and Capacity Trucks are the major suppliers of terminal tractors in the global market.

The 4x2 terminal tractors are the most prominent tractors used at port terminals. These 4x2 terminal tractors are majorly used in developing countries like China, India, Brazil, and Mexico.

Asia Pacific is projected to be the highest growing regional market
For the market analysis, the Asia Pacific region includes China, India, Japan, South Korea, and Rest of Asia Pacific.According to the World Bank Statistics, China held the largest share in terms of port terminal capacity globally in 2019.

Shanghai Port (China), Shenzhen Port (China), Hong Kong, S.A.R. (China), Ningbo-Zhoushan (China), and Keihin Port (Japan) are some of the port terminals that handle millions of TEU annually.
In addition to high containerized transportation, factors such as increasing Gross Domestic Product (GDP), infrastructure investments, rising per capita income, growing inclination toward comfort and leisure, and government initiatives for FDI have created more opportunities for containerized business, in turn driving the terminal tractor market in the Asia Pacific region.

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 – 80% and End user organization– 20%
• By Designation: C Level - 30%, Directors- 50%, and Others – 20%
• By Region: Asia Pacific - 20%, Europe - 30%, North America –30%, and RoW-20%
Kalmar (Finland), Terberg Special Vehicles (Netherlands), Capacity Trucks (US), MAFI Transport-Systeme GmbH (Germany), and TICO Tractors (US) are the prominent 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, and CNG), 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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