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Terminal Tractor Market Trends

Report ID: GMI7398
Published Date: Nov 2023
Report Format: PDF

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Terminal Tractor Market Trends

Electric-powered terminal trucks are gaining traction in the market by addressing environmental concerns and enhancing operational efficiency. Their eco-friendly nature aligns with sustainable practices, appealing to businesses aiming to reduce their carbon footprint. For instance, in May 2023, Capacity Trucks introduced its latest electric terminal truck, powered by a zero-emission lithium-ion battery. This addition to Capacity's eco-friendly product line is specifically designed for port and warehouse operations. The truck features a Hyster-Yale electric powertrain and offers battery options of 130 kWh and 260 kWh, catering to diverse operational needs in environmentally conscious sectors.

The terminal truck market is experiencing growth due to enhanced maneuverability resulting from shorter wheelbases. These compact designs allow terminal trucks to navigate confined spaces with ease, improving efficiency in busy logistics hubs and ports. Shorter wheelbases enhance agility, enabling quicker turns and precise movements, which are essential for seamless cargo handling operations. As businesses prioritize operational effectiveness, the demand for terminal trucks with improved maneuverability continues to rise, propelling the market.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of terminal tractor reached USD 1.1 billion in 2022 and is set to witness 8% CAGR from 2023 to 2032, due to the rising number of companies allocating funds to acquire advanced tractors equipped with cutting-edge technologies and eco-friendly engines worldwide.

The diesel-powered segment held over 39% of the market share in 2022, owing to high torque output at low RPMs, in heavy-duty towing and hauling.

North America accounted for 35% of the market share in 2022, attributed to the increasing environmental awareness leading to businesses embracing eco-friendly practices in the region.

Capacity Trucks, Kalmar, MAFI Transport - Systeme GmbH, Molcy, Sany Group, Terberg Special Vehicles, and TICO Tractors are some of the major terminal tractor companies worldwide.