Global Terminal Tractor Market to Grow at a CAGR of 4.1% During 2024-2032, Driven by Rising Investment in the Development Of Ports

North America accounts for a substantial portion of the market share. In the US, semi-trailers and cargo containers are moved over short distances using terminal tractors, sometimes referred to as yard or shunt trucks. The increased logistics activities also fuel the terminal tractor market demand.

The flexibility and agility of terminal tractors add to the overall effectiveness of warehouse operations. Compared to a traditional road truck, they can move three or four times as much freight in a single shift, and they boast time-saving specialised features like sliding doors. In addition, factors like the expansion of the e-commerce sector and the increasing adoption of automated warehouse management solutions are positively influencing the market growth.

With the growing trend of sustainability, key players are developing innovative electric terminal tractors that boast reduced noise, vibrations, and fumes, are safe for use outdoors and indoors, and minimise maintenance costs and time. For instance, in December 2021, Cummins Inc. (NYSE: CMI) launched a PowerDriveTM 8000 system to enhance the accessibility of battery electric terminal tractors.

Besides, increasing merger and acquisition activities by key players are also propelling the market growth. For instance, in August 2023, Kalmar signed an agreement with Lonestar Specialty Vehicles (LSV) to acquire the product rights of its electric terminal tractor product line. Through the acquisition, the former aims to meet the growing demand for eco-friendly material handling solutions and expand its portfolio of electric vehicles.

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Market Analysis by Type, Propulsion Type, Drive Type, Application, End Use, and Region:

• The market, on the basis of type, can be divided into manual and automated.

• The different propulsion types of terminal tractor include conventional fuel, alternative fuel, and electric.

• Based on drive type, the market can be divided into 4 x 2, 4 x 4, and 6 x 4.

• The various applications for terminal tractor include airport, marine port, warehouse and logistics, and oil and gas.

• Based on end use, the market can be divided into retail, food and beverages, inland waterways, marine services, rail logistics, and RoRo logistics, among others.

• The major regional markets for terminal tractor include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• According to various reports, e-commerce is expected to capture 41% of global retail sales by 2027. The robust e-commerce growth and improvements in logistics and warehousing create opportunities for the terminal tractor market demand.

• With the rising expansion of marine trade, ports are getting revamped, and intermodal facilities such as automation, transport, and stevedoring, combined with road and rail efforts, positively influence the market growth.

• The market has undergone significant transformation with the incorporation of cutting-edge technology, including automation, telematics, and electric propulsion. The technologies are designed to increase overall safety in terminal operations, decrease emissions, and improve operational efficiency.

• Ongoing government investments in the infrastructure development of ports to promote efficient and advanced logistics operations further contributes to the expansion of the market size.

Key Offerings of the Report:

• The EMR report gives an overview of the global terminal tractor market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, propulsion types, drive types, applications, end uses, and major regions of terminal tractor.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global terminal tractor market are Sany Group, Cargotec Corporation, Konecranes Plc, Royal Terberg Group, Volvo Group, REV Group Inc., MAFI Transport-Systeme GmbH, Terminal Investment Corporation (TICO), Mol CY, and Linde Material Handling GmbH, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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