Terminal Tractor Market Size Worth $1,245.08 Million By 2032 | CAGR: 4.60%

Terminal Tractor Market Size Worth $1,245.08 Million By 2032 | CAGR: 4.60%

The global terminal tractor market size is expected to reach USD 1,245.08 Million by 2032, according to a new study by Polaris Market Research. The report “Terminal Tractor Market Share, Size, Trends, Industry Analysis Report, By Propulsion Type (Diesel, Electric, Hybrid, and CNG); By Type; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Terminal tractors have become essential and playing very crucial role in the daily operations of various application across industries such as aerospace & military, transportation, rail logistics, among others. Thus, manufacturers of terminal tractors are highly implementing on the development and deployment of low-emission, high efficiency, and innovated tractors for many end-user organizations.

In addition, with the advent of electric terminal tractors, the need for high maintenance service, fan belt service, and other engine-related services has been eliminated, which created new potential room for market growth in the coming years.

For instance, In November 2022, Terberg Tractors, announced the launch of its new and fully battery-powered electric terminal tractor named YT200EV.The tractor is mainly designed for handling of containers in seaports efficiently and it can also be used in numerous applications including shifting heavy loads. Additionally, it will also be able to reduce the operating costs compared to conventional diesel and other fossil fuel based terminal tractors.

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The rapid rise in the fuel prices and several traits like zero greenhouse emissions and less energy consumption contributes to the demand and adoption of electric terminal tractors ang made them a viable choice among end-users. These tractors are also being utilized, as apart from providing clout and control but also keeps the range of eco-friendly upgrades, that could help to minimize the adverse impact a business can have on the environment. At the same time, manufacturers from Europe region have realized that the cost of electric terminal tractors outweighs all the advantages they have, hence are implementing more on making it affordable, so that even small players could adopt and result in higher market expansion.

Terminal Tractor Market Report Highlights

  • Diesel segment accounted for largest market share in 2022 due to rise in engine upgradation and improvement activities undertaken by major companies
  • Automated segment is anticipated to grow at rapid pace owing to its numerous advantages including low-environment impact, productivity, and ability to take decision on its own
  • Material handling segment held the highest market share in 2022, which is mainly accelerated by increase in need and demand for flexible, transparent supply chain, and modernization in production process
  • North America region dominated the global market in 2022 owing to the presence of robust industrial infrastructure and high prevalence of online shopping platforms among people
  • The global key market players including Terberg Special Vehicles, MAFI Transport-Systeme GmbH, Terminal Investment Corporation, and Konecranes

Polaris Market Research has segmented the terminal tractor market report based on propulsion type, type, application, and region:

Terminal Tractor, Propulsion Type Outlook (Revenue - USD Million, 2019 - 2032)

  • Diesel
  • Electric
  • Hybrid
  • CNG

Terminal Tractor, Type Outlook (Revenue - USD Million, 2019 - 2032)

  • Manual
  • Automated

Terminal Tractor, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Material Handling
  • Logistics & Distribution
  • RoRo Terminals
  • Container Terminals
  • Retail
  • Others

Terminal Tractor, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa