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Terminal Tractor Market Insight| Key Players: Kalmar (Finland), Terberg Special Vehicles (Netherlands), Capacity Trucks (US), MAFI Transport-Systeme GmbH (Germany), and TICO Tractors (US)

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Terminal Tractor Market Insight| Key Players: Kalmar (Finland), Terberg Special Vehicles (Netherlands), Capacity Trucks (US), MAFI Transport-Systeme GmbH (Germany), and TICO Tractors (US)

June 28
01:15 2022
Terminal Tractor Market by Type, Tonnage, Propulsion, Application (Airport, Marine, Oil & Gas, Warehouse & Logistics), Industry (Retail, Food & Beverages, Inland Waterways & Marine Service, Rail Logistics, RoRo), and Region

The Terminal Tractor Market is projected to grow from USD 718 million in 2021 to USD 877 million by 2026, at a CAGR of 4.1% during the forecast period. Increasing international trade (ports traffic and rail freight) and growing demand from e-commerce and logistics industries drive the demand for terminal tractors to handle the volume of materials and goods are driving the growth of the terminal tractor market.

Terminal tractor manufacturers are investing in R&D activities to introduce advanced types of terminal tractors. For example, in July 2021, After testing at two customer sites in the Netherlands, the Terberg concept hydrogen terminal tractor completed a test period at the Antwerp Euroterminal in Beveren, Belgium. During the test, a mobile hydrogen filling station was used. Terberg Special Vehicles will use the results of these and other tests to refine the design and build the preproduction series in 2022. The commercial introduction of the hydrogen-powered tractor is planned for 2023.

The Marine port segment is expected to be the largest segment during the forecast period

The growth in population has increased the demand for raw materials and finished products over the years. In recent times, the global demand has stabilized from the uncertainty of the COVID-19 pandemic. Continuous demand for materials, products, equipment and fuel from major end-use industries has propelled the expansion of the marine port industry. Increased demand has encouraged the manufacturers of terminal tractors and other port equipment to offer technologically advanced equipment that helps in performing better marine operations. Increasing marine activities in developing countries and growth in demand for resource exploration are the major drivers of the terminal tractor market.

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The 50–100 ton segment is projected to lead the terminal tractor component market

According to MarketsandMarkets analysis, the 50–100 ton segment is estimated to hold the largest market share of 58% in 2021. This can be attributed to a large number of equipment used for stacking laden containers at port terminals. Terminal tractors with a tonnage capacity of 50–100 tons are used to carry the majority of containers, ranging from empty containers to laden containers, in the port and logistic sectors. As the 50–100 ton terminal tractors are mostly used for stacking single-laden containers, electric variants are anticipated to become successful for container handling applications.

Diesel propulsion is estimated to be the fastest-dominate market during the forecast period

Most terminal tractors are installed with diesel engines. According to MarketsandMarkets analysis, based on propulsion, the diesel segment is estimated to hold the largest share of the terminal tractor market in 2021. High power and load stacking requirements and the low cost of diesel make diesel the first choice for equipment manufacturers. However, the latest emission norms for NOx, PM, and CO2 reductions and the rising trend of automation for port equipment would push manufacturers to develop power-efficient equipment with reduced emission levels. Manufacturers such as Kalmar, Konecranes, and Terberg are providing engines that are compliant with Stage IV and Tier 4 norms.

The Asia Pacific region is estimated to be the third-largest market for diesel terminal tractors owing to the presence of a large number of small and mid-sized terminals in the region, apart from the numerous ports in countries like China, Japan, Singapore, and South Korea. The electric infrastructure at these port terminals is not sufficient to fulfil the increasing demand. The demand for diesel-based equipment is, thus, growing at a substantial rate in this region.

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North America is estimated to be the dominant regional market

the US handled the second-largest containerized trade of around 55.5 million TEU in 2019, after China. The US was also the major contributor to the overall terminal tractor sales (approximately 91%) in the North American region in 2020.

The growth of the US market can be attributed to a large industrial base in the country, comprising automotive manufacturing, aerospace and defence, and industrial verticals. Other port terminals in North America, such as Southern Californian ports of Los Angeles and Long Beach, Maher Terminal in New York, WBCT Terminal in Los Angeles, and ITS and Husky Terminals on the West Coast, also handle millions of TEU every year. The traffic in these terminals is constantly increasing, bringing lucrative business opportunities for terminal tractor manufacturers. Thus, the region is estimated to dominate the terminal tractor market with a 45.8% share in 2021.

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