The terminal tractor market size is poised to expand 1.4X in terms of value, at a CAGR of 3.3% during the forecast period of 2020-2030. Terminal tractors are specifically designed to be used at terminals, ports, distribution centers, and several other industrial applications that enhance the efficiency of the movement of goods.
However, economic shutdown has led to supply shortages as the COVID-19 pandemic is taking a toll on the global movement of goods, from wholesale distribution to retail stores, and the manufacturing industry to the logistics industry. As a result, container movement in several countries across the world has decreased, resulting in declining sales of terminal tractors.
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Key Takeaways from Terminal Tractor Market Study
- By fuel, conventional fuel terminal tractors are set to hold a share-wide market dominance with over 90% of the total market value by the end of forecast period.
- By end use, port terminals are projected to expand at a value CAGR of 3% and be valued 2.8X more than intermodal facilities by the end of 2020.
- By ownership, the industrial and commercial segment is anticipated to expand 1.4X by gaining 90 BPS over the course of the forecast duration.
- The terminal tractor market in East Asia is expected to grow the fastest by experiencing a value CAGR of over 4%, whereas, North America is projected to be valued 2.3X than East Asia and account for a major chunk of the demand pie by the end of the forecast period.
“Suspension of manufacturing and logistics activities amidst the COVID-19 pandemic will lead to short-term implications on the demand for terminal tractors.However, the market is set to regain traction over the coming years, owing to revolution in the retail sector, emergence of e-Commerce platforms, and increase in seaborne trade activities, which will create high demand for terminal tractors across the world,” says a Fact.MR analyst.
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Key Segments of Terminal Tractor Market
Fact.MR’s study on the terminal tractor market offers information divided into five key segments – fuel, end use, product, ownership, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories for the better understanding of readers.
Fuel
- Conventional Fuel
- Below 200 HP
- Above 200 HP
- Alternative Fuel (CNG/LNG)
- Below 200 HP
- Above 200 HP
- Electric
End Use
- Port Terminals
- Intermodal Facilities
- Other Applications
Product
- Conventional
- Automated
Ownership
- Rental
- Industrial & Commercial
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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Questionnaire answered in the Terminal Tractor Market report include:
- How the market for Terminal Tractor has grown?
- What is the present and future outlook of the global Terminal Tractor on the basis of region?
- What are the challenges and opportunities for the Terminal Tractor?
- Why the consumption of Terminal Tractor highest in region?
- In which year segment is expected to overtake segment?
What makes Fact.MR report stand out from others?
- MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Terminal Tractor market. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
- Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Terminal Tractor market, thus, making it different and special from other reports.
- Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
- Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Terminal Tractor market and assists to create strategies to overcome the obstacles that may hinder the growth of the Terminal Tractor market.
- Leverage: The Terminal Tractor market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
- Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
- Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Terminal Tractor market.
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