The report ' Terminal Tractor Market' Market by Fuel (Diesel, BEV), By Tonnage (<50 Ton, 50 - 100 Ton, >100 Ton) - Global Forecast to 2030. The Global Terminal Tractor Market will reach a landmark of USD 1049.95 million by 2030 from USD 693.81 Million in 2020, at a CAGR of 4.23 % during the forecasted period. As economic conditions improve and investments in the industrial sector increase in the developing countries, the terminal tractor market is expected to grow rapidly. In addition, the continued expansion of industrial, automotive manufacturing in Asian countries is boosting the growth of the entire market.
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During the forecasted period, the 'Diesel' market category is predicted to grow at the fastest rate. The bulk of terminal tractors are powered by diesel engines. Furthermore, according to Fuel, the diesel sector is accounted for the largest share of the terminal tractor market in 2021. Due to its excellent power efficiency and low-cost feature, diesel is the preferred fuel for equipment producers. Manufacturers will be forced to build more energy-efficient equipment with reduced emissions as a result of the current emission standards for NOx, PM, and CO2 reductions, as well as the growing trend of port equipment automation. Furthermore, the Asia Pacific area is expected to be the third-largest market for diesel terminal tractors because of the significant number of small and mid-sized terminals and the numerous ports in countries such as China, Japan, Singapore, and South Korea.
In 2021, the '50–100 tonne' segment accounted for up to 58 percent of the market. This is due to the massive machinery necessary to stack big containers at port terminals. Terminal tractors with a tonnage capacity of 50–100 tonnes are used in the port and logistics sectors to transport a large number of containers, ranging from empty containers to fully filled containers. As a result, the international maritime commerce for loaded products reached a volume of 11.08 Bn tonnes in 2019, according to the United Nations Conference on Trade and Development's (UNCTAD) development statistics and information division.
North America had the largest proportion of the terminal tractor market in 2021. With a 45.8% share of the terminal tractor market in 2021, it is predicted to be the market leader. The rise of the US market is owing to the country's enormous industrial base, which includes automobile manufacturing, aerospace military, and industrial verticals. The volume of traffic at North American port terminals is steadily increasing, thereby creating the lucrative potential for terminal tractor manufacturers. According to World Bank figures, with around 55.5 million TEU, the United States was the second-largest containerized trade behind China in 2019. In addition, the United States was the leading contributor to overall terminal tractor sales in the North American region in 2020. (about 91 percent).
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