A new study by Fact.MR on trailer terminal tractors market opines global revenues to grow at nearly 2.5% in 2021. The market rally has been stalled by weakness induced by COVID-19 induced pandemic, however, the commencement of recovery can boost prospects in the long run. The market study by Fact.MR offers detailed insights for the period 2020 to 2030, analyzing the market in over 20 countries.
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An increasing number of companies are choosing electric vehicles for their fleet. This shift is expected to continue throughout the forecast period says Fact.MR. The stringent policies on emission control for vehicles is key factor propelling the growth of the market.
Even though market players are facing losses due to lockdowns and its restrictions, the situation is expected to turn to normal in the post pandemic phase. Productions are returning to the normal schedule and so are supply chains, which is a positive news for the industry.
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- Hybrid electric vehicles (HEV) and battery operated electric vehicles (BEV) are expected to be in considerably high demand
- Conventional diesel/gasoline based vehicles continue to lead the market
- Autonomous vehicles to witness significant growth in sales in the next decade
- North America to emerge as the most lucrative market for trailer terminal tractors in the forecast period.
- Trailer terminal tractor with capacity between 50 to 100 tons will remain top-selling variant
- Single axle trailer terminal tractors to cover leading market share, retaining lucrativeness in the market
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Trailer Terminal Tractors Market: Competitive Landscape
Manufacturers are using new product launches with innovative technologies to gain edge over competition. Companies are focusing on autonomous vehicles as the future of the of the industry lies in industry automation. Also, investments in BEV and HEV by companies is witnessed by key players in order to provide sustainable solutions and gain market advantage.
Companies are also using partnerships, mergers and acquisition strategies in order to serve wider consumer base.
For instance, Volvo Trucks has launched tractor-trailer combination for speedy cargo movement. These trucks are designed for express cargo delivery especially in India. Volvo Trucks has partnered with logistics player Delhivery for this new launch.
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The company has been a leader in the mining segment trucks already and now it is planning to expand its footprint in other segments with the help of new product launches and innovations.
Some of the key market players include,
- AB Volvo
- AUTOCAR, LLC.
- BYD Company Limited
- CAPACITY TRUCKS
- CARGOTEC (Kalmar)
- CVS FERRARI S.P.A.
- Hoist Liftruck Mfg.
- LLC, Konecranes
- MAFI Transport Systems GmbH
- Mol CY nv
- Orange EV
- SINOTRUK (HONG KONG) LIMITED
- TERBERG SPECIAL VEHICLES and
- TICO TRACTORS.
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