A terminal tractor is a vehicle used to transport trailers throughout a terminal, yard, or warehouse. A fifth wheel to attach to trailers, a lifting deck to load and unload trailers and a range of other features are all included in terminal tractors, which are made specifically for moving trailers. Any enterprise that wants to transport trailers around must use terminal tractors, and they are available in a range of sizes and combinations to meet all needs.
The market worth of terminal tractors in 2021 was USD 723.15 million, and it will be worth USD 1049 million by 2030, growing at a 4.23% CAGR during the forecast period.
Compared to road trucks, terminal tractors have many advantages, including the layout of the driveline, visibility, maneuverability, and chassis design with an elevating fifth wheel. Thus, the use of Terminal Tractors for cargo handling in port operations is expanding. Additionally, manufacturers of Terminal Tractors are concentrating more on creating these vehicles for use in terminal operations.
Market Dynamics
Drivers
Increasing demand from the e-commerce and logistics industries is propelling the worldwide terminal tractor market. For instance, the U.S. Census Bureau estimates that the third quarter of 2021 saw a total of USD 204.6 billion in U.S. retail e-commerce sales.
The development of technology in the terminal tractor market to improve productivity and decrease human error, as well as the adoption of automation and high-end technologies, will fuel the expansion of the global terminal tractor market.
Restraints
The price of terminal tractors given to customers reflects the enormous investments required at every stage of designing, producing, and distributing terminal tractors. Customers from cost-sensitive regions prefer to keep or use old terminal tractors or buy used ones, which lowers the demand for new ones due to the increased capital cost.
Opportunity
In order to provide end users with the best performance possible, an automated terminal tractor is essential. For instance, Konecranes unveiled an automated terminal tractor in 2017 that features a remote operating station, a specially designed GUI, and an IT system that interacts with the Terminal Operating System (TOS). With this tractor, port operations may handle containers more productively by 25%. Other terminal tractor manufacturers are working on touch screens, rear-view cameras, GPS systems, microcontrollers, sensors (ultrasonic, Bluetooth, temperature & climate control, and environmental), and telematics systems.
Market Segmentation
By Fuel
On the basis of fuel, the market is segmented into BEV and diesel.
By Fuel, the diesel category will account for the maximum market in 2021. Due to its excellent power efficiency and low cost, diesel is the fuel of choice for equipment producers. The most recent emission limits for NOx, PM, and CO2 reductions, along with the expanding trend of port equipment automation, will compel equipment manufacturers to develop more environmentally friendly, energy-efficient equipment.
By Tonnage
On the basis of tonnage, the market is segmented into 50-100 tons, <50 tons, and >100 Tons.
The 50-100 ton segment ruled the market with 58% of the revenue share in 2021. This is because stacking huge containers at port terminals requires a significant quantity of machinery. Terminal tractors with a tonnage capacity of 50–100 tons are used in the port and logistics industries to transport bulk containers, which can be empty or fully loaded. The international marine trade for goods loaded achieved a volume of 11.08 billion tonnes in 2019, according to the development statistics and information division of the United Nations Conference on Trade & Development. This was a result of the rising living standards, especially in Asian countries, as well as the rising global population, GDP, disposable income, and living standards.
Regional Insights
The highest market share in 2021 was in North America, with a 45.8% market share. The massive industrial base of the United States, which includes industries like automotive manufacturing, aerospace and defense, and industrial verticals, is causing the market there to grow. Millions of TEU are handled annually by other North American port terminals, including the Southern California ports of Los Angeles and Long Beach, New York’s Maher Terminal, Los Angeles’s WBCT Terminal, and the West Coast’s ITS and Husky Terminals. These terminals’ constantly rising traffic levels present lucrative commercial potential for terminal tractor manufacturers.
Key Players
- CVS Ferrari S.p.A.
- Terberg Group B.V.
- MAFI Transport-System GmbH
- SANY Group
- Kalmar Inc.
- REV Group Inc.
- Hyster-Yale Group, Inc.
- Cargotec
- Linde Material Handling
- KonecranesOyj
The market worth of terminal tractors in 2021 was USD 723.15 million, and it will be worth USD 1049 million by 2030, growing at a 4.23% CAGR during the forecast period. The market is expanding due to the expanding manufacturing sector and emerging economies with cutting-edge technologies. Additionally, terminal tractors reduce energy consumption, increase workplace productivity and convenience, and require less maintenance, which encourages businesses to utilize them in place of manual labor.
