The global Terminal Tractors market was valued at USD XX million in 2017 and is expected to reach USD XX million by 2025 growing at a Compound annual growth rate (CAGR) of XX% from 2018 to 2025. A terminal truck is rather known as spotter truck, tard truck, yard horse, shunt truck or mule in the United States, is a semi-truck intended to move cargos and other heavy objects within a specific area. These workhorse trucks have sought-after qualities including automatic gear shifting, excellent visibility, power steering, and sharp turning radius. An ever-increasing demand for Terminal Tractors in various sectors coupled with the introduction of new modular design models is anticipated to make the fuel the market growth over the next seven years.
An off-road segment is estimated to witness significant growth
The global Terminal Tractors market has been segmented based on components into front and rear axle parts, electronic and hydraulic joysticks and control lever, brake pedals and accelerators, engine parts, transmission parts, and others. Based on models, the Terminal Tractors market has been bifurcated ason-road trucks and off-road trucks. An off-road segment is estimated to witness significant growth during the projection period owing to its increasing use in warehouses and logistic centers. Moreover, off-road Terminal Tractors also helps with productivity and efficiency by shuttling and moving semi-trailers at a work site, which therefore creates an ample growth opportunity for the market during the projection period. Moving forward, based on application, the market is segmented asports, rail terminals, manufacturing industries, warehouses, and logistics centers.
North America holds the largest market share by region
The global Terminal Tractors market has been geographically segmented into Asia-Pacific, Europe, North America, Latin America, the Middle East, and Africa region. In addition to this, North America region holds the largest market share. The reason may be attributed due to the presence of major market players in this region who are continuously engaged in the development of new generation yard trucks. Further down, Asia-Pacific is estimated to dominate the market growth during the forecast period, owing to the growth of airport and seaport activities in developing countries like India and China.
Major Players in Global Terminal Tractors Market
Some of the key players in the global Terminal Tractors market include Kalmar, MOL, Wiese USA Inc., MAFI Transport Systeme GmbH, Peinemann Holding B.V., Terberg Group, Orange EV, Hoist Liftruck Manufacturing LLC, and Terminal Investment Corporation.
Global Terminal TractorsMarket: By Components
Global Terminal TractorsMarket: ByModels
Global Terminal TractorsMarket: By Application
Global Terminal TractorsMarket: By Geography