The terminal tractor market refers to the industry segment focused on manufacturing and selling specialized vehicles designed for transporting cargo containers within ports, terminals, and distribution centers. These robust and maneuverable vehicles, also known as yard trucks or shunt trucks, play a crucial role in efficiently moving shipping containers between storage areas and transportation hubs. The market encompasses various manufacturers and models, offering diverse features and capacities to meet the specific needs of logistics and transportation companies, contributing to the seamless flow of goods in the global supply chain.
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Data Bridge Market Research analyzes that the Global Terminal Tractor Market is expected to reach USD 1,139,393.35 thousand by 2030, growing with a CAGR of 4.3% in the forecast period of 2023 to 2030. The manual segment is projected to propel the market growth due to urbanization, port expansion, and government investments in infrastructure.
Key Findings of the Study
Advancements in Terminal Tractor Technology
Advances in technology, particularly automation and telematics, present significant opportunities in the global terminal tractor market by enhancing efficiency, safety, and cost-effectiveness in cargo handling and transportation within ports, distribution centers, and logistics hubs. Automation can reduce labor costs by automating tasks that were traditionally performed manually, such as moving trailers and containers. This can lead to substantial savings for terminal operators. Automated terminal tractors can operate around the clock, increasing the efficiency and throughput of cargo handling operations and reducing downtime.
Advanced technology allows for remote operation or supervision of terminal tractors, providing flexibility and cost-saving opportunities. Technological advancements have led to the development of electric and hybrid terminal tractors, which offer environmental benefits, reduce emissions, and align with sustainability goals.
Companies at the forefront of innovation are poised to harness the full potential of these changing consumer preferences, which is expected to drive market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Type (Manual and Automated), Drive Mode (4*2, 4*4 and 6*4), Dead Weight (7,000 to 8,000 Kg, Less than 7,000 Kg, and More than 8,000 Kg), Capacity (Less than 50 Tons, 50 to 100 Tons, 100 to 150 Tons, and More than 150 Tons), Propulsion Type (Diesel, Electric, Hybrid, and CNG), Industry (Marine Services, RORO, Inland Waterways, Rail Logistics, Food & Beverages, Retail, and Others)
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Countries Covered
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Germany, U.K., France, Spain, Poland, Italy, Netherlands, Belgium, Denmark, Russia, Turkey, Norway, Switzerland, Finland, Sweden, Rest of Europe, China, India, Singapore, Japan, South Korea, Australia, Thailand, Malaysia, Indonesia, Vietnam, New Zealand, Philippines, Rest of Asia-Pacific, U.S., Canada, Mexico, U.A.E., Saudi Arabia, South Africa, Egypt, Oman, Bahrain, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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TICO TRACTORS (U.S.), Hyster-Yale Group, Inc. (A Subsidiary of Hyster-Yale Materials Handling, Inc.) (U.S.), Orange EV (U.S.), Hoist Material Handling, Inc. (U.S.), Mol CY nv (Belgium), Royal Terberg Group (Netherlands), MAFI Transport-Systeme GmbH (Germany), BYD Motors Inc. (A Subsidiary of BYD Company Ltd.) (U.S.), CARGOTEC CORPORATION (Finland), Konecranes (Finland), AB VOLVO (Sweden), REV GROUP (U.S.), SINOTRUK (HONG KONG LIMITED) (China), and SANY Group (China) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis
The global terminal tractor market is segmented into six notable segments based on type, drive mode, capacity, dead weight, propulsion type, and industry.
- On the basis of type, the global terminal tractor market is segmented into manual and automated.
In 2023, the manual segment is expected to dominate the global terminal tractor market
In 2023, the manual segment is expected to dominate the market with a 56.38% market share due to expansion in the field of logistics and distribution.
- On the basis of drive mode, the global terminal tractor market is segmented into 4*2 and 4*4 and 6*4.
In 2023, the 4*2 segment is expected to dominate the global terminal tractor market
In 2023, the 4*2 segment is expected to dominate the market with a 58.82% market share due to increasing urbanization and port expansion.
- On the basis of dead weight, the market is segmented into 7,000 to 8,000 kg, less than 7,000 kg, and more than 8,000 Kg. In 2023, the 7,000 to 8,000 kg segment is expected to dominate the market with a 47.38% market share.
- On the basis of capacity, the market is segmented into less than 50 tons, 50 to 100 tons, 100 to 150 tons, and more than 150 tons. In 2023, the less than 50 tons segment is expected to dominate the market with a 48.98% market share.
- On the basis of propulsion type, the market is segmented into diesel, electric, hybrid, and CNG. In 2023, the diesel segment is expected to dominate the market with a 39.26% market share.
- On the basis of industry, the market is segmented into marine services, RORO, inland waterways, rail logistics, food & beverages, retail, and others. In 2023, the marine services segment is expected to dominate the market with a 34.21% market share.
Major Players
Data Bridge Market Research analyzes CARGOTEC CORPORATION (Finland), TICO TRACTORS (U.S.), Hyster-Yale Group, Inc. (A Subsidiary of Hyster-Yale Materials Handling, Inc.) (U.S.), SINOTRUK (HONG KONG LIMITED) (China) and Orange EV (U.S.) as the major market players in the global terminal tractor market.
Market Developments
- In August 2023, Kalmar, part of Cargotec Corporation, signed an agreement to acquire the product rights of the electric terminal tractor product line from Lonestar Specialty Vehicles (LSV) in the U.S. As part of the transaction, LSV has to transfer the immaterial assets for Kalmar and act as Kalmar’s contract manufacturing partner for the acquired electric terminal tractor product range. The transaction is planned to be completed on 1 September 2023.
- In July 2023, Kalmar, part of Cargotec Corporation, signed an agreement with Australian heavy-equipment distributor AJL Group Pty Ltd (AJL) to supply 18 heavy terminal tractors to TT-Line Company Pty (TT-Line).
- In July 2023, TICO secured its initial orders for the model as part of a pre-series run and will soon deliver the first retail units. As the largest terminal tractor fleet owner and operator in North America, TICO needed to team up with a technologically advanced electric powertrain provider to develop solutions for EV terminal tractors used in ports, distribution centers, and rail terminals.
- In June 2023, Konecranes acquired the industrial crane service operations of Norway’s Munck Cranes AS, giving it access to new customers and a large installed base of Munck’s industrial cranes in Norway and beyond.
- In May 2022, Mol Cy and the French company Nexter entered into a collaborative agreement as part of the CaMo (Capacité Motorisée) program, aimed at upgrading the ground mobility capabilities of the Belgian Army. The collaboration agreement between Mol Cy and Nexter, the lead contractor responsible for the program, is a direct outcome of the intergovernmental agreement signed in November 2018 by France and Belgium. This agreement solidified their commitment to establish a lasting strategic partnership focused on enhancing ground mobility capabilities.
Regional Analysis
Geographically, the countries covered in the global terminal tractor market report are Germany, U.K., France, Spain, Poland, Italy, Netherlands, Belgium, Denmark, Russia, Turkey, Norway, Switzerland, Finland, Sweden, Rest of Europe, China, India, Singapore, Japan, South Korea, Australia, Thailand, Malaysia, Indonesia, Vietnam, New Zealand, Philippines, Rest of Asia-Pacific, U.S., Canada, Mexico, U.A.E., Saudi Arabia, South Africa, Egypt, Oman, Bahrain, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
As per Data Bridge Market Research analysis:
North America is expected to be the dominant region in the global terminal tractor market
North America is expected to dominate the global terminal tractor market owing to government investments in infrastructure.
Europe is expected to be the fastest-growing region in the global terminal tractor market during the forecast period of 2023-2030
Europe is expected to be the fastest-growing region in the market due to expanding international commercialization and urbanization.
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