The global terminal tractor market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period. The terminal tractor is known as the semi-tractors and known by different names such as yard truck, shunt truck, and spotter truck. These tractors are primarily designed for loading and unloading materials, machines, and used in ports to handle goods. The terminal tractor market has a huge potential to grow at the fastest rate over the forecast period, owing to its features such as single cab, which allows the tractor driver to have much greater clarity when operating the tractor. Moreover, the terminal tractor allows the operator to move the tractor more efficiently and quickly in the warehouse, and dock. Moreover, owing to increasing shipment of materials, warehousing, and other logistical goods in the food & beverages, automotive, and pharmaceutical sectors, has propelled the growth of the global terminal tractor market.
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Further, the increasing number of international trade between developed and developing countries is also influencing the growth of the terminal tractor market. According to the US census bureau, the total trade between US and China in 2021 was $3.55 million, including both export and import of materials. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2021, Autocar has manufactured its badass waste collection vehicles, which have a feature of ADAS, (Advanced Driver Assist System).
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Terminal Tractor Market– Segmentation
By PropulsionType
- Diesel
- Electric
- Hybrid
By Appplication
- Inland Waterways and Marine
- Railways
- Others(applications)
Global Terminal Tractor Market – Segmentation by Region
North America
- US
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2022 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global terminal tractor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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