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Global Terminal Tractor Market worth USD 15 billion by 2030

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The report ‘ Terminal Tractor’ Market is segregated By Fuel (Diesel and BEV), By Tonnage (<50 Ton, 50 – 100 Ton and >100 Ton), and By Region (North America, Europe, Asia-Pacific and LAMEA)-Global Forecast to 2030. The Market for Global Terminal Tractor is predicted to reach a market value of 1049.9 Mn by 2030 from USD 693.8 Mn in 2021, at a CAGR of 13.8 percent during the forecasted period. The terminal tractor market is prevised to grow significantly as the business conditions improve and the rising investments in the manufacturing unit mostly in the developing and emerging countries. Furthermore, the continuous growth in the automotive manufacturing units in the Asian countries is highly stimulating the overall growth of the market. Moreover, the E-commerce businesses are also in search of cost-effective solutions to handle massive orders and to cut short delivery times. Also, to minimize the overall turnaround time at distribution centres, an increment in the e-commerce sales would highly necessitate the entire usage of more terminal tractors in terms of loading and unloading of items. Hence, as a result, the growing demand for terminal tractors for various cargo handling applications is expected to rise significantly all throughout the forecasted period, which will fuel the growth of the market exponentially.

A terminal tractor, which is also known as a spotter truck, shunt truck, yard truck, spotting tractor, yard dog, yard shifter, yard horse, yard goat, yard jockey, mule, or hostler in the United States, is a special type of semi-tractor that is mainly planned to move the semi-trailers within a warehouse facility, or cargo yard, intermodal facility, that is much like a switcher locomotive.

Based on fuel type, the ‘Diesel ‘market segment is projected to be the fastest-growing market all throughout the forecasted period. The diesel engines are mostly installed in the majority of the terminal tractors. Furthermore, the diesel segment is expected to have the largest proportion of the terminal tractor market share in 2021, based on Fuel. Diesel is the topmost alternative for equipment manufacturers due to its high efficiency in terms of power as well as its affordability. However, the latest emission standards for NOx, CO2, and PM reductions, as well as the increasing trend of port equipment automation, will compel the manufacturers to craft more energy-efficient equipment with the technology of emitting lower emissions. Also, due to the vast number of mid and small-sized terminals, as well as the innumerable ports in the nations like Singapore, Japan, China, and South Korea, the Asia Pacific region is estimated to be the 3rd largest market for diesel terminal tractors market segment.

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Based on Tonnage, the ‘50–100 ton’ market sector is anticipated to account for around 58 percent of the overall market in 2020. This is because of the vast amount of machinery that is required at the port terminals to stack the heavy and large containers. In the logistics and port sectors, there is a vast utilization of terminal tractors with a tonnage capacity of 50–100 tons in order to transport a bulk of containers, that is ranging from empty containers to fully loaded containers. In accordance with the UNCTAD (United Nations Conference on Trade and Development), the development statistics and information section, the international marine trade for products loaded had reached an overall volume of 11.08 Bn tons in the year 2019. This was primarily due to the result of the rising global population, growing global GDP, increasing disposable income, and increasing living standards, especially in the Asian countries.

Recent Developments regarding the Terminal Tractor Market

  • In the month of June 2021, the Terberg concept regarding the hydrogen terminal tractor successfully finished a testing phase at the Antwerp Euroterminal in Belgium, after the conduction of testing of two client sites in the Netherlands. Also, a mobile hydrogen filling station was employed during the conduction of the test. These Terberg Special Vehicles will highly enhance the manufacturing and design of the preproduction series in the year 2022. 
  • In June 2021, Kalmar, a Cargotec subsidiary, agreed to prove the supply facility of SAAM Group along with another 26 Kalmar Ottawa T2 terminal tractors to continue its regular operations at Chile’s San Antonio Terminal Internacional (STI). 

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