Terminal Tractor Global Market Report 2024

A terminal tractor is a specialized vehicle designed specifically for moving trailers and containers within terminals, warehouses, or logistics yards. It is equipped with a fifth wheel for coupling with trailers, which enables efficient maneuvering and handling of heavy loads in tight spaces.

Terminal tractors are categorized into manual and automated types. A manual terminal tractor is operated by a driver and is used for transporting trailers and containers within terminals or logistics yards. They are powered by various propulsion systems such as diesel, compressed natural gas (CNG), hybrid, and electric. These vehicles come in different tonnages, less than 50 tons, 50-100 tons, and over 100 tons. They feature axle configurations such as 4x2, 4x4, and 6x4, and find applications across various industries including airports, marine terminals, oil and gas facilities, warehouses, food and beverage distribution, and rail logistics.

The terminal tractor research report is one of a series of new reports that provides terminal tractor market statistics, including the terminal tractor industry's global market size, regional shares, competitors with a terminal tractor market share, detailed terminal tractor market segments, market trends and opportunities, and any further data you may need to thrive in the terminal tractor industry. This terminal tractor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The terminal tractor market size has grown strongly in recent years. It will grow from $0.9 billion in 2023 to $0.95 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth observed in the historic period can be attributed to increased demand for efficient logistics and supply chain solutions, rapid expansion of e-commerce, substantial investments in port and intermodal infrastructure projects, growth in international trade activities, and the replacement of aging fleets with newer, more efficient models by logistics companies and port operators. Shortages in manual labor also contributed to the adoption of automated and semi-automated terminal tractors to maintain operational efficiency.

The terminal tractor market size is expected to see strong growth in the next few years. It will grow to $1.19 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to ongoing developments and deployments of autonomous terminal tractors, increased focus on sustainability and reducing carbon footprints, efforts to optimize global supply chains for efficiency and cost-effectiveness, continuous expansion and modernization of port facilities, government incentives and subsidies promoting adoption of clean and efficient technologies, as well as rising urbanization and industrialization in developing regions. Major trends expected during the forecast period include the integration of technologies such as IoT, AI, and machine learning for predictive maintenance and fleet management, rising adoption of electric and hybrid terminal tractors, advancement of smart ports with sophisticated infrastructure, ongoing programs for fleet modernization, and broader adoption of telematics systems to enhance vehicle tracking capabilities.

The terminal tractor market is poised for growth due to the anticipated increase in e-commerce sales. E-commerce, which involves the online buying and selling of goods and services through websites and platforms, is gaining momentum driven by factors such as convenience, a wide product range, competitive pricing, and changing consumer preferences favoring online shopping. Terminal tractors play a crucial role in e-commerce by efficiently transporting trailers and containers within logistics hubs and distribution centers, ensuring rapid and well-organized order fulfillment. For example, in May 2024, U.S. retail e-commerce sales for the first quarter of 2024 totaled $289.2 billion, reflecting a 2.1 percent (±0.7%) increase from the fourth quarter of 2023. Thus, the surge in e-commerce is a key driver behind the expansion of the terminal tractor market.

Leading companies in the terminal tractor sector are actively innovating to boost efficiency and sustainability, focusing on technologies such as electric terminal tractors. These vehicles, which operate solely on electric motors, are designed for transporting trailers and containers in terminals and logistics yards, offering benefits such as lower emissions and operational costs. For instance, Terberg Tractors Malaysia Sdn Bhd introduced the YT200EV fully electric terminal tractor in December 2022. Equipped with a 350 kWh lithium-ion phosphate (LFP) battery, the YT200EV provides up to 10 hours of continuous operation in container port settings and can fully recharge within an hour. Its 240 kW asynchronous water-cooled motor drive delivers ample torque to handle payloads up to 90 tons, making it a more efficient and economical choice compared to diesel-powered tractors.

In March 2021, Volvo Penta, in collaboration with TICO Tractors, embarked on a project to develop an emission-free electric terminal tractor, marking a significant milestone in Volvo Penta’s journey toward electromobility and supporting its broader sustainability objectives. TICO Tractors, based in the United States, specializes in manufacturing terminal tractors.

Major companies operating in the terminal tractor market are BYD LLC, Volvo AB, Sany Heavy Industry Co. Ltd., Kalmar India Pvt Limited, Konecranes Plc, Hyster-Yale Inc., REV Group Inc., Autocar LLC, The Royal Terberg Group B.V., TICO Tractors, Orange E.V. LLV, Linde Material Handling GmbH, Lazer Spot Inc., Fernride GmbH, Capacity Trucks Inc., CVS Ferrari SPA, Mol Cy NV, Hoist Material Handling Inc., Saigon Newport Corporation (SNP), MAFI Transport-Systeme GmbH.

North America was the largest region in the terminal tractor market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the terminal tractor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the terminal tractor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The terminal tractor market consists of sales of fuel cell terminal tractors, hydrogen fuel cell-powered terminal tractors, and multi-modal terminal tractors. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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