Fact.MR has recently published a new assessment titled “Terminal Tractor Market Forecast, Trend Analysis & Competition Tracking: Global Market Insights 2019 to 2029”, which meticulously discourses growth insights across the global terminal tractor market. According to precise insights, increasing fuel prices are escalating the demand for electric terminal tractors. It has been focused that features of electric terminal tractor centered at zero emissions and rationally less energy consumption makes it a striking option among diverse end user.
According to report specifics, several active manufacturers are capitalizing suggestively in research and development activities associated to electric terminal tractors which is likely to augment healthy over the forecast period. Based on revenue figures, the global terminal tractors market is projected to grow at 3.5% CAGR during the forecast period.
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As the report proceeds, the global terminal tractors market is dissected on the basis of fuel type, product type, ownership, end use, region and application. On the basis of fuel type, global terminal tractors market is further segmented into conventional fuel, electric and alternative fuel (CNG/LNG) terminal tractors. Interestingly, conventional fuel and alternative fuel segment (CNG/LNG) is further categorized as below 200 HP and above 200 HP. As per report insights, depending on better price to performance ratio, terminal tractors functioned by conventional fuel tends to emerge as the most lucrative segment in the global terminal tractors market. Similarly, the regional bifurcation focuses on the expanse of terminal tractors market across prime geographies including North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa.
Demand for Automated Terminal Tractors Receive Inspiring Thrust
With a purpose to enhance work efficiency together with reduction of human errors, the incorporation of new advanced technologies and automation is gaining pace. Due to the steadily rising international trade actions, the need for terminal tractors is further swelling, thereby, fueling the demand of automated type terminal tractors. In addition, digitalization wrapped around Internet of Things (IoT) and are predicted to strengthen the penetration of automated terminal tractors across the global market. Based on active perceptions, the automated terminal tractor segment is likely to expand ~2x faster as compared to conventional segment during the forecast period until 2029.
North America Acquires Steady Market Share in Terminal Tractor Market
Focusing on the regional market expanse, North America terminal tractors market incorporate the investigation for Canada and U.S. due to high production of the automotive sector as well as large service sector posing prominent impact on the target market. Fact.MR unveils that, the U.S acquired a major portion in North America terminal tractor market sales. This development can be accredited to the presence of large industries across the U.S in comparison to Canada. Nevertheless, Canada is anticipated to register momentous growth by the end of the forecast period. On the other hand, East Asia is foreseen to experience fastest growth in the global terminal tractor market by 2029-end.
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The final section of the report gives a deeper insight about the competitive landscape active in the global terminal tractor market. This portion highpoints major players including Kalmar Inc, Terberg Group B.V., REV Group Inc., Konecranes Oyj, Hoist Material Handling, Inc., MAFI Transport-System GmbH, Mol CY nv, Autocar LLC, Orange EV and TICO Terminal Services, which are carefully assessed on the basis of sales channel, product portfolio, company revenue share etc.
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