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Terminal Tractor Market: Advancements in the manufacturing sector tobe one of the major drivers

Press release   •   Sep 23, 2019 15:25 IST

Terminal Tractor Market

The global manufacturing industry has witnessed rapid growth in recent times owing to huge investments coming up from Governments of various countries and especially the developing economies. As per the China Federation of Logistics and Purchasing (CFLP), the global manufacturing purchasing managers index (PMI) accounted 55.1 in October 2017, which was down from 55.9 in September 2017 however, still at a comparatively high level. The PMI index remained above 53.5 since the beginning of 2017, signifying a steady recovery of the manufacturing sector in developed countries. This factor would be propelling the demand of terminal tractor market in the forecast period.

The adoption of smart connected devices have increased at a noticeable rate in the developing countries of APAC region. China is the world’s largest hub for automotive manufacturing. Also, there has been increasing sales of commercial, and heavy duty vehicles in China, Japan, Australia, India, New Zealand, Taiwan and Singapore by the military, logistics & transportation, mining, and construction end-user sector owing to the increasing investments for advanced technology integrations.

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Global Terminal Tractor Market - Company Profiles AB Volvo, Autocar LLC, Blyyd, Capacity Trucks, Kalmar (Cargotec Corporation), Konecranes, Mafi Transport-Systeme GmBH, Mol CY NV, Terberg Group B.V., Terminal Investment Corporation.

Geographically, Asia Pacific holds the largest terminal tractor market share as the region consist of a huge number of container ports where the demand for the terminal tractor is high. Due to such factors, the Asia Pacific region would continue to grow. The government of the region is continuously focusing on increasing spending in automotive and transportation industries so that companies would adopt an automated terminal tractor to ease its business process.

The logistical complexities have multiplied mainly due to the diverse nature of consumer demands observed in different regions of the world pertaining to any product. For successful market expansions, organizations focus on increasing the product assortments catering to the needs of the local market, giving rise to a highly diverse portfolio of products. The larger the diversity, the higher is the complexity of the supply chain for the organization to manage efficiently in delivering products as well as services. Therefore, the terminal tractor market across the globe is anticipated to grow.

The global terminal tractor market based on application has been segmented into material handling, logistics and distribution, container terminals, and RoRo terminals. Terminal tractors are used for various application that include inter facility material/cargo handling. A RoRo port terminal is considered as a continuous system made up of a succession of independent subsystems in order to simplify and facilitate the understanding as well as the improvement of each system independently and ultimately the terminal as a whole. The RoRo terminals segment led the global terminal tractor market, by application in 2018.

Diesel being the most trust worthy in terms of generating torque is majorly used by most of the manufacturers. Diesel fuel is cheap in most of the region and produce the most torque, which is essential for crawling of terminal tractors at lower speed with huge load. The terminal tractor market has been segmented on the basis of propulsion type into diesel, electric, hybrid, and CNG. The diesel type segment led the terminal tractor market, by propulsion type in 2018 and it is anticipated to continue its dominance during the forecast period.

Strategic Insights

Some of the market initiatives were observed to be most adopted strategy in the global terminal tractor market. Few of the recent market initiatives are listed below:

2019: Kalmar announced its partnerships with NFI Industries, to supply 25 Kalmar Ottawa Electric T2E Terminal Tractors to be used in the distribution centers in California.

2019: Kalmar announced the inauguration of its new North American Customer Experience & Training Center. This new center handle USA’s mobile equipment business, which consist of counterbalance forklifts, empty container handlers, reach stackers, and terminal tractors.

2018: Kalmar signed a contract with SPT Services Sdn Bhd, for ordering 41 units of Kalmar TL2 Terminal Tractors.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.

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