Terminal Tractor Market Size, Share, Growth, & Analysis – 2028

 

Terminal Tractor Market

The Terminal Tractor Market was estimated around USD 662 million in 2020 and is expected to grow at a CAGR of 3.3% over the forecast period (2021-2028).

The factors driving the growth of Terminal Tractor Market includes increasing application of terminal tractors in loading and unloading materials used in ports and distribution centers, expansion of the e-commerce industry and rise in the number of warehouses around the world. According to the report published by Statista, the E-commerce market in India was estimated at USD 30 billion in 2020 and is predicted to reach USD 200 billion by the end of 2027, which will boost the Terminal Tractor Market size in India in the approaching years. Moreover, the growing demand for energy efficient and autonomous tractors, rising trend of digitalization, increase in the trading activities around the world and growing popularity of electric terminal tractors, are some of the additional factors supplementing the market growth. In addition, the easy availability of terminal tractors on rental basis, increasing adoption of automated technologies, rising use of terminal tractors in metal industry and rapid urbanization, are further propelling the market growth.

Request a free sample of this report

However, the growth of Terminal Tractor Market is hindered attributed to high maintenance cost of terminal tractors.

The leading players operating in the market are Sinotruk, Dongfeng Commercial Vehicle Company Limited, C&C Trucks, Terberg Special Vehicles, Mol, Capacity Trucks, BYD, Orange EV, Mafi Transport-Systeme GmbH and Tico Tractors among others.

Application – Segment Analysis

Based on Application, the Logistics segment is anticipated to expand at a robust CAGR during the forecast period. The terminal tractors are increasingly used in e-commerce industry because they move trailers with higher speed and efficiency from one terminal to the other, which is the major factor responsible for the segment's growth.

Propulsion Type – Segment Analysis

Based on Propulsion, the Electric segment is predicted to grow at a remarkable CAGR over the forecast period attributed to rise in the fuel prices and growing demand for environment friendly terminal tractors.

Regional – Segment Analysis

Based on Region, the North American region is projected to capture a sizeable market share during the forecast period. The increasing application of terminal tractors in Aerospace and Defense industries, Government initiatives to boost the automotive manufacturing, rise in the traffic at distribution centers and ports and high per capita incomes, are some of the important factors augmenting the market growth in North America.

 

 

Market Segmentation

Global Terminal Tractor Market by Application

  • Marine Port
  • Oil and Gas
  • Logistics
  • Airport

Global Terminal Tractor Market by Propulsion Type

  • Electric
  • Diesel
  • Hybrid

Global Terminal Tractor Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

 

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Comments

Post a Comment

Popular posts from this blog

Seizing the Europe Smart Home Market Opportunity

Image
 The Europe smart home market presents a vast and promising opportunity for businesses and consumers alike. With advancements in technology, changing lifestyles, and increasing awareness about energy efficiency, the smart home industry in Europe is ripe with potential for growth and innovation. The opportunity in the Europe smart home market stems from several key factors. Firstly, the region boasts a large and affluent consumer base that is increasingly embracing connected technology to enhance their lifestyles. From smart thermostats and lighting systems to security cameras and voice-controlled assistants, the demand for smart home devices is on the rise across the continent. Moreover, supportive regulatory initiatives and incentives aimed at promoting energy efficiency and sustainability are creating a conducive environment for the adoption of smart home technology in Europe. Tax incentives, rebates, and subsidies for energy-efficient home upgrades are encouraging homeowners to...
Read more

Unlocking Opportunities: GCC Medical Packaging Market Growth in 2024

Image
The GCC medical packaging market is poised for substantial growth in 2024, driven by factors such as technological advancements, increasing healthcare spending, and a focus on patient safety. The region's growing population, coupled with rising demand for quality healthcare services, is fueling the expansion of the medical packaging sector. Let's explore the key drivers and opportunities contributing to the growth of the GCC medical packaging market this year. One of the primary drivers of market growth is the continuous innovation in medical packaging technologies. Companies are investing in advanced packaging materials, designs, and functionalities to meet the evolving needs of healthcare providers and patients. Smart packaging solutions equipped with sensors, RFID tags, and tracking capabilities are enhancing product safety, supply chain visibility, and real-time monitoring. This technological progress is driving the adoption of intelligent packaging solutions and fueling m...
Read more

Riding the Wave: India Wireless Earphone Market Surges Amidst Growing Demand

Image
 The India Wireless Earphone Market is witnessing remarkable growth, buoyed by an increasing demand for wireless audio solutions and a shift towards a wireless lifestyle. With consumers seeking convenience, mobility, and superior audio quality, wireless earphones have emerged as a must-have accessory in today's digital age, driving significant market expansion. One of the key drivers of growth in the India Wireless Earphone Market is the rising penetration of smartphones and smart devices. With smartphone ownership becoming ubiquitous across urban and rural areas, there is a growing need for wireless earphones that complement these devices seamlessly. As consumers look for hassle-free connectivity and on-the-go audio solutions, the demand for wireless earphones continues to surge, fueling market growth. Moreover, technological advancements in wireless audio technology are driving market expansion. Innovations such as true wireless earbuds, active noise cancellation, and advanced B...
Read more