The trailer terminal tractor is designed specifically to be used at ports, container terminals, distribution and logistics centers, and industrial sites. Terminal tractors work effectively and efficiently, possess fast turnaround time, low operating cost, high reliability, and offer unique comfort and easily accessible service points. Furthermore, development of the electric terminal tractor is a major factor that is likely to increase the trailer terminal tractor market during the forecast period. Infrastructure development, adoption of trailer terminal tractor in warehouse management, and increasing use of trailer terminal tractor in the metal industry are expected to offer significant opportunities to the trailer terminal tractor market during the forecast period.
Covid -19 impact on industry -
COVID-19 pandemic has shut-down the production of various products in trailer terminal tractor industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of trailer terminal tractor market significantly from last few months, as is likely to continue during 2020.
COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The factors that drives this Increased cargo handling coupled with economic growth across the globe, upcoming infrastructure development plans, and growth of the global economy are key factors that drive the growth of the market.
Advancement due to the trailer terminal tractor
Growth of the global economy are key factors that are anticipated to fuel these industries as in sea port activities, which in turn is likely to drive the trailer terminal tractor market during the forecast period. Advancements in the trailer terminal tractor, such as liquefied natural gas (LNG) powered terminal tractors, electric terminal tractors, and autonomous terminal tractors that comply with carbon emission regulations, are projected to propel the trailer terminal tractor market during the forecast period.
Stringent emission norms have led to the development of electric trailer terminal tractor and the LNG powered engine. Governments across the globe are enacting stringent emission norms in order to reduce vehicle emission at ports and other places. Several manufacturers, such as Kalmar and Terberg, showcased their fully electric terminal tractors in 2018 and hence, the BEV segment is expected to expand exponentially during the forecast period.
Development of the electric terminal tractor is a factor that favors market growth. However, Lack of synchronization is one of the key restraints for the growth of the market. Moreover, increasing use of trailer terminal tractor in the metal industry provide opportunities for the market.
Increase in usage of trailer terminal tractor
Rising adoption of technology and automation in order to reduce human error and increase work efficiency is likely to prompt the adoption of autonomous tractors at a significant pace. However, the diesel powered trailer terminal tractor segment held a major share. The usage of electric and LNG fuel based trailer terminal tractors is likely to increase during the estimated time. Prominent regions considered for the analysis include North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Regional level breakdown has been conceded out on the basis of vehicle production, adoption rate, GDP, presence of roof manufacturers and society demand. Application of a large number of the trailer terminal tractors in the logistics industry led North America to account for a major share of the market in 2018. Presence of all major manufacturers in the region makes terminal tractors highly popular and hence, the adoption of terminal tractors in the region has been rising significantly in the last few years. It is expected to rise during the predicted period. Awareness among industrialists about terminal tractors is a key factor behind the vast expansion of the trailer terminal tractor market in the region. The rate of adoption of the terminal tractors in North America is rising at a rapid pace, as compared to other regions of the globe. Industries in North America heavily use terminal tractors owing to the presence of a prominent logistics industry in the region
Key benefits of the report:
- This study presents the analytical depiction of trailer terminal market along with the current trends and future estimations to determine the future of the market
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of trailer terminal market share.
- The current market is quantitatively analyzed to highlight the trailer terminal market growth scenario.
Trailer Terminal Tractor Market Report Highlights
By End user
Key Market Players
CARGOTEC (Kalmar), LLC, Konecranes, CAPACITY TRUCKS,, CVS FERRARI S.P.A., MAFI Transport Systems GmbH, Hoist LiftruckMfg LLC