New York, United States, Nov. 10, 2023 (GLOBE NEWSWIRE) — The Global Terminal Tractor Market Size is to grow from USD 746 Million in 2022 to USD 1,289 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 5.6% during the projected period.On the basis of type, the global terminal tractor market is segmented into the manual and automated. Among these, the manual segment is dominating the market with the largest revenue share of 83.6% over the forecast period. Human operators work through the shortcomings of each piece of equipment or control irregularities in operational procedures, allowing manual terminal tractors to operate even when machines cannot perform optimally.On the basis of propulsion, the global terminal tractor market is segmented into diesel, electric, hybrid, and CNG. Among these, the hybrid is witnessing significant CAGR growth over the forecast period. These terminal tractors are powered by a diesel engine and use renewable energy storage technology to reduce fuel consumption and pollution. The use of hybrid technology is projected to improve vehicle fuel efficiency. Several companies are developing or have already constructed hybrid terminal trucks.Based on the tonnage, the global terminal tractor market is classified into less than 50 Tons, 50-100 Tons, and more than 50 Tons. Among these, the more than 50 Ton segment is expected to hold the largest share of the terminal tractor market during the forecast period. A number of businesses offer terminal tractors with differing tonnages. Empty containers are organized at port terminals and in logistics business operations with terminal tractors with payload capacities of 50 tonnes.On the basis of application, the global terminal tractor market is segmented into airports, marine ports, oil & gas, warehouse & logistics, and others. Among these, the warehouse & logistics segment is dominating the market with the largest revenue share of 41.7% over the forecast period. Terminal tractors are specially designed vehicles for hauling and transferring large trailers and containers in business environments such as airports, seaports, warehouses, and logistics facilities. To assist the user, these gadgets incorporate cutting-edge technologies and inventive designs.This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Terminal Tractor Market based on the below-mentioned segments:
(GlobeNewsWire)