USD 825.5 million
Terminal Tractor Market Size, Share, Growth Analysis, By Type(Manual and Automated), By Drive Type(4x2, 4x4, and 6x4), By Tonnage(<50, 50-100, and>100 Tons), By Application(Airport, Marine Port, Oil and Gas, Warehouse), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20G2049 |
Region:
Global |
Published Date: March, 2024
Pages:
167
|Tables:
117
|Figures:
73
Terminal Tractor Market Insights
Terminal Tractor Market size was valued at USD 862.7 Million in 2023 and is poised to grow from USD 901.52 Million in 2024 to USD 1278.91 Million by 2032, growing at a CAGR of 4.5% during the forecast period (2025-2032).
Terminal tractors are vehicles designed to carry or move semi-trucks and trailers across different locations. Rapidly expanding logistics and transportation industries are projected to bolster the demand for terminal tractors over the coming years. Increasing e-commerce activity and rising workload at dockyards and warehouses are also projected to bolster the terminal tractor market growth going forward. Electrification of terminal tractors is a key trend that is anticipated to create attractive new opportunities for terminal tractor market players across the forecast period and beyond. High focus on safety and stringent emission norms are also augmenting the demand outlook for terminal tractors. Growing demand for efficient cargo handling and warehousing solutions around the world are also slated to uplift the sales of terminal tractors in the long run.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Manual
Fastest Growth
Automated
Growth Rate
4.5% CAGR
Global Terminal Tractor Market ($ Bn)
Country Share for North America Region (%)
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Terminal Tractor Market Segmental Analysis
The global terminal tractor market is segmented based on type, drive type, tonnage, application, and region. In terms of type, the market is segmented into manual and automated. Based on application, the market is bifurcated into airport, marine port, oil and gas, warehouse, and logistics. On the basis of drive type, the market is bifurcated into 4x2, 4x4, and 6x4. Based on tonnage, the market is divided into <50, 50-100, and>100 tons. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Type
Manual terminal tractors account for a sizeable share of the global marketplace. Manual terminal tractors have been around for quite a while and this is why operators have figured out how to work with it even when it has some flaws or issues, which makes it a highly sought-after material handling equipment in many industries. Most developing and underdeveloped countries use manual terminal tractors, and this is what allows them to account for a dominant market share.
Meanwhile, the demand for automated terminal tractors is slated to increase at a rapid pace owing to advancements in automation technologies and rising popularity of automated machinery. Developed countries such as the United Kingdom and the United States are slated to lead the sales of automated terminal tractors in the future. Increasing integration of advanced technologies in the logistics industry will also create high demand for automated terminal tractors going forward.
Analysis by Application
Warehouse and logistics applications are slated to hold sway over the global terminal tractor demand outlook. Rapidly expanding e-commerce industry and growing world trade activity are crucially bolster the use of terminal tractors in different warehousing and logistics activities. Moreover, the integration of smart digital solutions to improve logistics operations could also uplift sales of automated terminal tractors through 2031.
Demand for terminal tractors in marine port applications is slated to increase at a robust pace across the forecast period owing to rising marine trade volumes and increasing emphasis on improving port efficiency. Expanding marine infrastructure and rising number of marine trade vessels are also slated to promote the adoption of terminal tractors at marine ports going forward.
Global Terminal Tractor Market By Type
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Terminal Tractor Market Regional Insights
North America is anticipated to account for a majority stake in the global terminal tractor marketplace owing to the presence of key logistics companies and high adoption of advanced material handling solutions. Frequent launches of new terminal tractors and quick adoption of automation in the logistics industry are other trends that allow this region to hold sway over the global landscape. Efforts of the government of the United States to improve its economic growth and reduce reliance on other countries for products are also slated to create new opportunities for terminal tractor manufacturers and distributors in the North American region going forward.
The Asia Pacific region is being positioned as the fastest-expanding market for terminal tractors in the world. Growing international trade activity, rapidly expanding population base, and rising adoption of industrial equipment in different industries are key factors that boost terminal tractor market development in this region over the coming years. China, Japan, India, and South Korea are slated to be the top moneymaking markets for terminal tractor suppliers in the Asia Pacific region through 2031.
Global Terminal Tractor Market By Region
- Largest
- Fastest
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Terminal Tractor Market Dynamics
Drivers
- Rapid Expansion of e-Commerce Industry
The e-commerce industry across the world is booming and this has created a high demand for different types of warehousing and logistics solutions. Growing demand for the aforementioned factors is set to play in the hands of terminal tractor providers and thereby drive market growth as well.
- Focus on Safety in Logistics Industry
Terminal trucks can be used to do heavy lifting in logistics industry and help safeguard workers from getting injured. Increasing use of advanced machines in logistics to bolster safety is slated to boost sales of terminal tractors over the coming years.
Restraints
- High Initial Costs
Procuring and using a terminal tractor is quite an expensive deal as these machines use complex systems and expensive raw materials. Moreover, terminal tractors with advanced features are priced much higher than regular models, which also makes it nearly impossible for companies with limited budgets to adopt them thereby slowing down market development.
- Integration Issues
Integrating terminal tractors into existing systems could prove to be very challenging as they might not be compatible or require additional components to facilitate compatibility. Lack of standardization in this marketplace could lead to integration challenges and slow down terminal tractor sales outlook through 2031.
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Terminal Tractor Market Competitive Landscape
Terminal tractor manufacturers focus on product innovation and keep launching new products to stay competitive in the global marketplace. Terminal tractor market players are also emphasizing on adding new features and functionalities to their products to improve their application scope. Collaborations, mergers, and acquisitions could help terminal tractor companies expand their global market presence and stay competitive in the marketplace. Terminal tractor providers partner with logistics and trading companies to secure business and boost revenue generation potential in the long run.
Top Player’s Company Profiles
- Kalmar Inc.
- Hyster-Yale Material Handling
- MAFI Transport-System GmbH
- Toyota Material Handling
- Jungheinrich
- Hoist Material Handling Inc.
- Terberg Special Vehicles
- Doosan Infracore
- Utilev
- REV Group Inc.
- Cargotec
- TICO Tractors
- Linde Material Handling
- Terberg Group B.V.
- Crown Equipment Corporation
- Konecranes Oyj
Recent Developments
- In March 2023, Fernride and Terberg announced that they had partnered up to develop a new automated terminal tractor using expertise from both organizations. The solution was meant to be developed for commercial applications.
- In September 2023, Orange EV, a renowned supplier for terminal trucks and tractors, announced the launch of its new series of terminal trucks at the IANA Intermodal Expo.
- In November 2023, Terberg Tractors Malaysia Sdn Bhd, a leading name in the terminal tractor business, announced the launch of an electric terminal tractor in Malaysia. The launch was aimed at the shipping and logistics industry, which is trying to be sustainable.
Terminal Tractor Key Market Trends
- Integration of Automation Technologies: Terminal tractor manufacturers should focus on making their products more autonomous as an increasing number of organizations are incorporating automation in their workflow. Automating terminal tractor operations could result in better productivity and reduced errors for users, which is also a key factor that will create new growth opportunities for companies going forward.
Terminal Tractor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, rapidly expanding e-commerce industry and growing international trade activity are projected to primarily augment the demand for terminal tractors over the coming years. Increasing emphasis on automation to reduce human errors is projected to bolster the sales of automated terminal tractors and offer terminal tractor companies new opportunities under this automation trend. Advancements in automotive and material handling technologies are also estimated to redefine the global terminal tractor marketplace in the long run. The Asia Pacific region is slated to emerge as the fastest-growing market for terminal tractor providers across the forecast period owing to growing industrialization and urbanization. However, high initial costs of procuring terminal tractors are slated to slow down terminal tractor market growth potential in the future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 825.5 million |
| Market size value in 2031 | USD 1223.84 million |
| Growth Rate | 4.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Terminal Tractor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Terminal Tractor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Terminal Tractor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Terminal Tractor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Terminal Tractor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Terminal Tractor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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