by The trailer terminal tractor market involves tractor units designed for moving semi-trailers within cargo hubs like distribution centers, container terminals, intermodal terminals and ports. These equipment facilitate efficient transfer of goods from long-haul transport vehicles to warehouses or storage areas. Trailer terminal tractors offer high hauling capacity with robust frames and suspension for shifting heavy shipping containers and trailers laden with goods over long distances within terminals. The growing volume of trade and rise in globalization has augmented demand for efficient cargo transport, boosting the need for trailer terminal tractors.
The global trailer terminal tractor market is estimated to be valued at US$ 11.31 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period of 2024 to 2031
Key Takeaways
Key players operating in the trailer terminal tractor market are Kalmar (Cargotec Corporation), Terberg Special Vehicles, MAFI Transport-Systeme GmbH, Mol CY NV (Mol), TICO Tractors, Capacity Trucks, AUTOCAR, LLC, Sinotruk (China National Heavy Duty Truck Group Co., Ltd.), Dongfeng Trucks, Saic Hongyan Commercial Vehicle, C&C Trucks Co , Ltd, Orange EV, BYD Motors Inc., Baumann Manufacturing, Toyota Kirloskar Motor, Taylor-Dunn ( WAEV INC. ), XCMG Group, Guangxi Liugong Machinery Co., Ltd., Zoomlion Heavy Industry Science&Technology Co., Ltd., and Volkswagen.
The rising global trade Trailer Terminal Tractor Market Growth has opened up opportunities for import/export of a wide variety of goods worldwide. This has augmented cargo volumes handled by sea and land ports. Increasing investments by governments worldwide in expanding and developing transport infrastructure like ports, terminals, logistics hubs has augmented demand for efficient cargo movement equipment like trailer terminal tractors.
Major industries involved in manufacturing, construction, oil & gas and automotive sectors rely heavily on efficient cargo transport infrastructure and equipment. Growing industries worldwide require uninterrupted supply of imported raw materials as well as channels for export of finished goods. This drives the need for investments in advanced terminal equipment that ensures faster turnaround of cargo containers and trailers within ports and terminals.
Market drivers
One of the key drivers for the trailer terminal tractor market is the rise in international seaborne trade volumes globally. According to UNCTAD, seaborne trade volumes have been consistently growing over the past few decades and reached around 11 billion tons in 2020 despite the Covid-19 crisis. Major goods involved in seaborne trade include oil and gas, coal, iron ore, grains and agriculture products, containers and more. Growth in global trade corresponds to increased cargo volumes handled at ports, increasing the need for advanced short-distance transportation equipment like terminal tractors within ports and terminals to efficiently transfer cargo trailers and containers.
PEST Analysis
Political: Regulatory norms regarding vehicle emissions and safety varies across regions. Changes in trade policies could impact import/export of goods and associated transportation needs.
Economic: Economic growth influencing demand from end-use industries like agriculture, manufacturing and warehousing. Volatility in fuel prices impacting operating costs.
Social: Growing e-commerce industry fueling demand for warehouse space and associated material handling equipment. Increasing urbanization increasing need for efficient logistics.
Technological: Adoption of automation and telematics in logistics operations.Alternative fuel vehicles reducing environmental impact. Connected vehicles enabling fleet management.
Geographic Concentration
North America accounts for over 35% of the global trailer terminal tractor market in terms of value, driven by large presence of leading logistics operators. Presence of major agricultural production and manufacturing hubs in the US and Canada boosts demand.
Fastest Growing Region
Asia Pacific region is expected to witness the highest growth during the forecast period backed by rapid industrialization and rising consumption in emerging economies like China and India. Expanding manufacturing sector and growth in international trade spur the need for trucking and material handling equipment. Developing transportation infrastructure also supports the regional market
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
