Global Terminal Tractor Market Size, Share, Growth Analysis, By Type(Manual and Automated), By Drive Type(4x2, 4x4), By Tonnage(<50, 50-100), By Application(Airport, Marine Port) - Industry Forecast 2024-2031

Report ID: SQMIG20G2049 | Region: Global | Published Date: March, 2024
Pages: 167 | Tables: 117 | Figures: 73

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Global Terminal Tractor Market size was valued at USD 825.5 million in 2022 and is poised to grow from USD 862.70 million in 2023 to USD 1223.84 million by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

Terminal tractor manufacturers focus on product innovation and keep launching new products to stay competitive in the global marketplace. Terminal tractor market players are also emphasizing on adding new features and functionalities to their products to improve their application scope. Collaborations, mergers, and acquisitions could help terminal tractor companies expand their global market presence and stay competitive in the marketplace. Terminal tractor providers partner with logistics and trading companies to secure business and boost revenue generation potential in the long run. 'Kalmar Inc.', 'Hyster-Yale Material Handling', 'MAFI Transport-System GmbH', 'Toyota Material Handling', 'Jungheinrich', 'Hoist Material Handling Inc.', 'Terberg Special Vehicles', 'Doosan Infracore', 'Utilev', 'REV Group Inc.', 'Cargotec', 'TICO Tractors', 'Linde Material Handling', 'Terberg Group B.V.', 'Crown Equipment Corporation', 'Konecranes Oyj'

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Integration of Automation Technologies: Terminal tractor manufacturers should focus on making their products more autonomous as an increasing number of organizations are incorporating automation in their workflow. Automating terminal tractor operations could result in better productivity and reduced errors for users, which is also a key factor that will create new growth opportunities for companies going forward.

North America is anticipated to account for a majority stake in the global terminal tractor marketplace owing to the presence of key logistics companies and high adoption of advanced material handling solutions. Frequent launches of new terminal tractors and quick adoption of automation in the logistics industry are other trends that allow this region to hold sway over the global landscape. Efforts of the government of the United States to improve its economic growth and reduce reliance on other countries for products are also slated to create new opportunities for terminal tractor manufacturers and distributors in the North American region going forward.

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Global Terminal Tractor Market Size, Share, Growth Analysis, By Type(Manual and Automated), By Drive Type(4x2, 4x4), By Tonnage(<50, 50-100), By Application(Airport, Marine Port) - Industry Forecast 2024-2031

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