Terminal Tractor Market | 2031 Strategic Insights | Recent updates
The terminal tractor market size is projected to reach US$ 1124.24 million by 2031 from US$ 769.57 million in 2023. The market is expected to register a CAGR of 4.9% in 2023–2031. The market for terminal tractors is driven by the increasing e-commerce industry's rising demand for shipping goods. Also, the surge in the demand for cargo-handling solutions in the ships, terminals, ports, and local distribution centers is a major driving factor for the terminal tractor market growth. These tractors provide high reliability and higher shipping capacity and are capable of transporting bulky goods efficiently. According to the United Nations Conference on Trade and Development (UNCTAD), more than 849.5 million twenty-foot equivalent moved containers at ports worldwide in 2021.
Terminal Tractor Market Analysis
Terminal Tractor manufacturers focus on developing new products and launching several products to stay competitive in the global terminal tractor market. Terminal tractor market manufacturers are emphasizing on adoption of advanced features and advanced functionalities to their products to improve its application scope. Increasing mergers, partnerships, collaborations, and acquisitions that help terminal tractor manufacturers expand their market presence around the globe are creating ample opportunity for market growth. Terminal tractor companies offer partnerships with logistics, warehouse operators, shipping companies, and trading companies to secure transportation facilities to boost revenue in the long run.
Terminal Tractor Market Overview
The logistics service providers across the globe widely use terminal tractors. The increasing logistics sector, with the advent of the e-commerce industry at a rapid pace, is a major driving factor for the terminal tractors market growth during the forecast period. Terminal tractors are Class 8 industrial vehicles used to transport semi-trailers, loaded and empty shipping containers for short distances efficiently and quickly. They are commonly operated in warehouses, shipping ports, cargo, truck terminals, and cross-dock facilities and are configured for both off-road and on-road applications. Different names, such as yard truck, yard jockey, spotter truck, yard hosteler, and shunt trucks, know them. Its features include a single cab offset with improved driver’s visibility, a short wheelbase for turning radius, and sliding doors for drivers.
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Terminal Tractor Market: Strategic Insights
Terminal Tractor Market
-
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cagr.png)
CAGR (2023 - 2031)
4.9%
-
Market Size 2023
US$ 769.57 Million
-
Market Size 2031
US$ 1124.24 Million
Market Dynamics
GROWTH DRIVERS
- Rapid Adoption of Online Shopping with a Surge in the E-commerce Industry Drives the Terminal Tractor Market Growth
FUTURE TRENDS
- Increasing adoption of the robotics and automation technologies in the shipping industry is driving the terminal tractor market growth
OPPORTUNITIES
- Rising Development of Automation and Surge in Strategic Partnerships by the Key Players is Expected to Create Ample Opportunity for Market Growth
Key Players
- Kalmar, Inc.
- Konecranes Oyj
- Sany Group
- Terberg Group BV
- Hyster-Yale Materials Handling, Inc.
- MAFI Transport-Systeme GmbH
- TICO Tractors
- Capacity Trucks
- AUTOCAR
- LLC
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Automated
- Semi-Autonomous
- Manual;
Propulsion Type
- Diesel
- Electric
- Hybrid
- CNG;
Application
- Material Handling
- Logistics
- Distribution
- Airport
- Container Terminals
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Terminal Tractor Market: Strategic Insights
-
CAGR (2023 - 2031)4.9% -
Market Size 2023
US$ 769.57 Million -
Market Size 2031
US$ 1124.24 Million
![](https://www.theinsightpartners.com/assets/images/rd_int_img/tip-logo.jpg)
Market Dynamics
- Rapid Adoption of Online Shopping with a Surge in the E-commerce Industry Drives the Terminal Tractor Market Growth
- Increasing adoption of the robotics and automation technologies in the shipping industry is driving the terminal tractor market growth
- Rising Development of Automation and Surge in Strategic Partnerships by the Key Players is Expected to Create Ample Opportunity for Market Growth
Key Players
- Kalmar, Inc.
- Konecranes Oyj
- Sany Group
- Terberg Group BV
- Hyster-Yale Materials Handling, Inc.
- MAFI Transport-Systeme GmbH
- TICO Tractors
- Capacity Trucks
- AUTOCAR
- LLC
Regional Overview
![](https://www.theinsightpartners.com/assets/images/rd_int_img/ig-regional.png)
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_danger.png)
- Automated
- Semi-Autonomous
- Manual;
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_warning.png)
- Diesel
- Electric
- Hybrid
- CNG;
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_primary.png)
- Material Handling
- Logistics
- Distribution
- Airport
- Container Terminals
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Terminal Tractor Market Drivers and Opportunities
Rapid Adoption of Online Shopping with a Surge in the E-commerce Industry Drives the Terminal Tractor Market Growth
The rising e-commerce industry at a rapid pace has created a massive demand for global terminal tractors to manage parcel deliveries and end-users. The increasing demand for online shopping, along with the rapid growth in internet penetration globally, is a major driving factor for the terminal tractor market growth. The e-commerce sector sales in the US, valued at US$ 1.12 trillion in 2023, increased by around 7.6% compared to US$ 1.03 trillion by 2022. Meanwhile, e-commerce sale around the globe was valued at US$ 5.08 trillion in 2023, increased by 3.8% compared to 2022. This rapid adoption of online shopping with the surge in the e-commerce sector across the globe drives the terminal tractors market growth during the forecast period.
With the rapid expansion of the e-commerce industry, the demand for terminal tractors for parcel and goods transportation also increased. The major sectors that drive the terminal tractor market growth include marine, pharmaceuticals, retail, food, and beverages. Moreover, terminal tractor market growth is driven by the surge in the fast-moving consumer goods drives the terminal tractor market growth during the forecast period.
Rising Development of Automation and Surge in Strategic Partnerships by the Key Players is Expected to Create Ample Opportunity for Market Growth
The major players in the terminal tractor market involve strategic partnerships in order to meet the consumer’s demand. For instance, in August 2022, Kalmar, the business division of Cargotec, partnered with Maldives Ports Ltd. to offer T2i three terminal tractors. The purchase was made from Cargotec's intake and delivered in the first quarter of 2023.
- In July 2022, Kalmar partnered with Helsingborg Ports Ltd. to offer the Kalmar Electric tractor terminal Reachstacker. The agreement includes training for the adoption of the tractor terminal, equipment operators, and maintenance requirements.
- In June 2022, Terberg launched fully automated electric tractors. It is an autonomous design designed for mixed traffic. It is efficient and secure autonomous transportation.
- In January 2022, Kalmar made a partnership with Coast Autonomous Inc. to launch advanced Kalmar’s Robotic Portfolio. The products consist of intelligent mobile equipment solutions intended to increase cargo transportation and material handling productivity.
Terminal Tractor Market Report Segmentation Analysis
Key segments that contributed to the derivation of the terminal tractor market analysis are type, platform, application, and end-user.
- Based on type, the market is divided into automated, semi-autonomous, and manual. Among these, the manual has the largest share in 2023, and this is owing to increased demand across the logistics and distribution sector at a rapid pace,
- Depending upon the propulsion type, the market is divided into diesel, electric, hybrid, and CNG. Among these, CNG is growing at a rapid pace owing to higher efficiency and increased demand for the logistics sector.
- Based on application, the terminal tractor market is divided into material handling, logistics and distribution, airports, container terminals, and others. Among these logistics and distribution sector has the largest share in 2023.
Terminal Tractor Market Share Analysis by Geography
The geographic scope of the Terminal Tractor Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America is projected to have the largest share in 2023, and the US is growing at a rapid pace during the forecast period. This growth is owing to the presence of major manufacturers such as Kalmar, Inc., REV Group Inc., Terberg, and Mol. Further, increasing investments with the surge in the adoption of the latest technologies in the logistics and warehousing sector in this region are driving the terminal tractor market growth.
Asia Pacific is growing at the highest CAGR during the forecast period owing to the rising dominance of Chinese players to ship containers in China. Also, the rising E-commerce sector, the emergence of globalization, industry 4.0 evolution, and the adoption of smart factories across the developing nations in the Asia Pacific region drive the terminal tractor market growth during the forecast period.
Europe is also growing at a considerable rate during the forecast period owing to the presence of demand for terminal tractor products by the major countries such as Italy, France, Germany, and the UK.
Terminal Tractor Market Report Scope
Report Attribute
Details
Market size in 2023
US$ 769.57 Million
Market Size by 2031
US$ 1124.24 Million
Global CAGR (2023 - 2031)
4.9%
Historical Data
2021-2022
Forecast period
2024-2031
Segments Covered
By Type - Automated
- Semi-Autonomous
- Manual;
By Propulsion Type - Diesel
- Electric
- Hybrid
- CNG;
By Application - Material Handling
- Logistics
- Distribution
- Airport
- Container Terminals
- Others
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
Kalmar, Inc. Konecranes Oyj Sany Group Terberg Group BV Hyster-Yale Materials Handling, Inc. MAFI Transport-Systeme GmbH TICO Tractors Capacity Trucks AUTOCAR LLC
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 769.57 Million |
Market Size by 2031 | US$ 1124.24 Million |
Global CAGR (2023 - 2031) | 4.9% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Terminal Tractor Market News and Recent Developments
The Terminal Tractor Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Terminal Tractor Market and strategies:
- In August 2022, Kalmar, which is part of Cargotec, got the supply deal for the three T2i terminal tractors at the Maldives Port Limited. The orders are scheduled to be delivered by Q1 of 2023. (Source: DJI, Press Release/Company Website/Newsletter)
- In June 2022, the Cote d'Ivoire terminal announced the delivery of 14 new APM 75T HE electric terminal tractors supplied by Gaussin for the usage of transportation services at the port of Abidjan. However, the order was made for 36 terminal tractor units, which were supplied in phases by the last quarter of 2022. (Source: DJI, Press Release/Company Website/Newsletter)
Terminal Tractor Market Report Coverage and Deliverables
The “Terminal Tractor Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Type ; Propulsion Type ; Application
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina