(MENAFN- GetNews) Terminal Tractor Market by Type, Tonnage, Propulsion, Application (Airport, Marine, Oil & Gas, Warehouse & Logistics), Industry (Retail, Food & Beverages, Inland Waterways & Marine Service, Rail Logistics, RoRo), and Region
According to the new market research report “ Terminal Tractor Market by Type, Tonnage, Propulsion, Application (Airport, Marine, Oil & Gas, Warehouse & Logistics), Industry (Retail, Food & Beverages, Inland Waterways & Marine Service, Rail Logistics, RoRo), and Region – Global Forecast to 2026″, Published by MarketsandMarkets™, The global Terminal Tractor Market is projected to grow from USD 718 million in 2021 to USD 877 million by 2026, at a CAGR of 4.1% during the forecast period.
The demand for electric and automated terminal tractors would create growth opportunities for the Terminal Tractor Market.
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Kalmar (Finland), Terberg Special Vehicles (Netherlands), Capacity Trucks (US), MAFI Transport-System GmbH (Germany), and TICO Tractors (US) are the prominent players in the Terminal Tractor Market.
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The Marine port segment is expected to be the largest segment during the forecast period
The growth in population has increased the demand for raw materials and finished products over the years. In recent times, the global demand has stabilized from the uncertainty of the COVID-19 pandemic. Continuous demand for materials, products, equipment and fuel from major end-use industries has propelled the expansion of the marine port industry. Increased demand has encouraged the manufacturers of terminal tractors and other port equipment to offer technologically advanced equipment that helps in performing better marine operations. Increasing marine activities in developing countries and growth in demand for resource exploration are the major drivers of the Terminal Tractor Market.
The diesel segment by propulsion is expected to hold the largest market share in 2021
The limited availability of charging infrastructure, the lack of CNG filling stations in remote locations, and the higher prices of electric terminal tractors are the major factors hampering the adoption of green fuel vehicles.
Most terminal tractors are installed with diesel engines. According to MarketsandMarkets analysis, based on propulsion, the diesel segment is estimated to hold the largest share of the Terminal Tractor Market in 2021. High power and load stacking requirements and the low cost of diesel make diesel the first choice for equipment manufacturers. However, the latest emission norms for NOx, PM, and CO2 reductions and the rising trend of automation for port equipment would push manufacturers to develop power-efficient equipment with reduced emission levels. Manufacturers such as Kalmar, Konecranes, and Terberg are providing engines that are compliant with Stage IV and Tier 4 norms.
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North America is estimated to be the dominant regional market
the US handled the second-largest containerized trade of around 55.5 million TEU in 2019, after China. The US was also the major contributor to the overall terminal tractor sales (approximately 91%) in the North American region in 2020.
The growth of the US market can be attributed to a large industrial base in the country, comprising automotive manufacturing, aerospace and defence, and industrial verticals. Other port terminals in North America, such as Southern Californian ports of Los Angeles and Long Beach, Maher Terminal in New York, WBCT Terminal in Los Angeles, and ITS and Husky Terminals on the West Coast, also handle millions of TEU every year. The traffic in these terminals is constantly increasing, bringing lucrative business opportunities for terminal tractor manufacturers. Thus, the region is estimated to dominate the Terminal Tractor Market with a 45.8% share in 2021.
- In June 2021, After testing at two customer sites in the Netherlands, the Terberg concept hydrogen terminal tractor completed a test period at the Antwerp Euroterminal in Beveren, Belgium. During the test, a mobile hydrogen filling station was used. Terberg Special Vehicles will use the results of these and other tests to refine the design and build the preproduction series in 2022. Commercial introduction of the hydrogen-powered tractor is planned for 2023.
- In June 2021, Kalmar signed a strategic cooperation agreement with Sichuan Port and Shipping Investment Group (SPSI) to establish a long-term cooperative relationship for the development of a land port, water port, logistics park, multi-mode transport, and intelligent logistics integrated.
- In June 2021, Kalmar, a part of Cargotec, concluded a deal to supply SAAM Group with a further 26 Kalmar Ottawa T2 terminal tractors for its operations at San Antonio Terminal Internacional (STI) in Chile. The order was booked in Cargotec's 2021 Q2 order intake, with delivery scheduled to take place during Q4 of 2021.
- In May 2021, Kalmar signed an agreement to supply Servicios Portuarios Puerto De Algeciras, S.A. (SPPA) with five units of the Kalmar T2i terminal tractor for its operations in the Port of Algeciras, southern Spain. The order, which also includes the refurbishment of five existing Kalmar terminal tractors operated by SPPA, was booked in Cargotec's 2021 Q2 order intake, with delivery scheduled for the early part of Q4 2021.
- In February 2021, At ITS ConGlobal in Oakland, California (US), Phantom Auto is testing a Terberg drive by wire terminal tractor for remote operations (teleoperation). After reaching the final stages of the commissioning process, the unit will be deployed for actual remote shunting operations at ITS ConGlobal.
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