The North American terminal tractor market witnessed significant growth in the past and is expected to grow at a CAGR of 3.8% during the forecast period (2022-2030).
A terminal tractor is a semi-truck that moves semi-trailers inside a cargo yard, warehouse, or intermodal facility, like a switcher locomotive positions in a railcar. A shunt truck, spotter truck, spotting tractor, yard truck, yard shifter, yard dog, yard goat, yard horse, yard jockey, and hostler are additional names.
An automated terminal tractor is necessary to deliver the highest performance possible to end users. Like the automated terminal tractor that Konecranes debuted in 2017 with a remote operating station, a specially created GUI, and an IT system that communicates with the Terminal Operating System (TOS). With this tractor, port operations may handle containers 25% more efficiently. The development of touch displays, rear-view cameras, GPS systems, microcontrollers, sensors (ultrasonic, Bluetooth, temperature, climate control, and environmental), and telematics systems is also being pursued by several terminal tractor manufacturers.
Over the past two years, an increase in material shipments, warehousing, and global logistics activities in the automotive, food and beverage, and pharmaceutical industries has been the primary driver of the terminal tractor market. The growing demand for container handling is also contributing to the growth of the terminal tractor industry. Because of their low operating costs and convenient service locations, terminal tractors are expected to be in high demand due to the expanding seaborne trade around the world, further fostering the expansion of the terminal tractor market.
To promote efficiency at ports and other end-user segments, it is also projected that expanding trade activities between developed and developing countries for the supply of necessary products will raise demand for terminal tractors. As a result, the market for terminal tractors is anticipated to grow significantly over the forecast period.
The rise affects gasoline prices by increasing demand for electric terminal tractors. Many end users can benefit from them because of qualities like zero emissions and reasonably low energy consumption. Additionally, electric terminal tractors are significantly smoother, flatter, and slicker than traditional diesel-powered terminal tractors. Tractors from the AGCO 8700S Series are suitable for various farming operations. The 5′′x 9′′ touchscreen's highly integrated technology ensures that the tractor and its gears can be controlled as needed while also enabling the operator to enhance the tractor's general functionality.
The Datatronic 5's video mode allows users to rear tractors considerably more safely by displaying pertinent pictures and illustrations through the console shade.
On the other hand, Ottawa is one of the most popular terminal tractors on the market. Many environmentally beneficial changes that can minimize a company's negative environmental impact are kept in this configuration, along with the appropriate authority and management.
Any advantages battery-powered terminal tractors might have are outweighed by their high price and need for a charging station to provide electricity for recharge. The time needed to recharge the batteries of terminal tractors completely will depend on their capacity, as well as the capabilities of the on-vehicle charging system. The infrastructure and EV must be acquired gradually, and fleet workers must set priorities and work in concert with other fleet components that handle more crucial duties, utilities, and governmental organizations. Battery-powered terminal tractors currently have longer payback periods than diesel-powered ones, which is predicted to restrain the growth of the global terminal tractor market partially.
Terminal tractors are essential to the daily operations of numerous application industries. On the other hand, conventional terminal tractors consume a lot of diesel fuel and produce a lot of hazardous diesel fumes. Developing and deploying low-emission, high-efficiency terminal tractors is a key goal for multiple organizations from various industry verticals and terminal tractor manufacturing businesses. Electric terminal tractors eliminate the requirement for several maintenance operations, including fan belt replacement, oil changes, air filter replacement, gearbox replacement, and other conventional gasoline-based engine procedures. This results in a large reduction in fuel expenses. Terminal tractor electrification also eliminates the need to replace the engine, as with diesel engines, after roughly 25,000 operating hours.
The North America Terminal Tractor market is segmented based on Application, Drive Type, Tonnage, Type, Propulsion, and Country.
Based on Application, the North American market is segmented by Airport, Marine Port, Oil and Gas, Warehouse, and logistics.
Warehouse and Logistics dominated the market and are expected to register a CAGR of 4.7% over the forecast period.
Based on Drive Type, the North American market is segmented into 4x2, 4x4, and 6x4.
The 4x2 segment dominated the market and is expected to register a CAGR of 3.6% over the forecast period.
Based on Tonnage, the North American market is segmented into <50, 50-100 Ton, and >100 Ton.
<50 dominated the market and is expected to register a CAGR of 4.3% over the forecast period.
The North American market is segmented based on Type into Manual and Automated.
Manual dominated the market and is expected to register a CAGR of 2.4% over the forecast period.
Based on Propulsion, the North American market is segmented by Diesel, Electric, and Hybrid.
Diesel dominated the market and is expected to register a CAGR of 0.6% over the forecast period.
The North American terminal tractor market is segmented by country into U.S. and Canada. U.S. dominates the country market and is expected to grow at a CAGR of 3.9% during the forecast period.
The rise in demand for terminal tractors in the warehousing and logistics sector is credited with driving the market's expansion. Trailers and containers are moved in and around warehouses, ports, and distribution centers using terminal tractors. The market for terminal tractors is expanding because of the rising demand for e-commerce. The demand for terminal tractors to transport goods from warehouses to distribution centers is rising as e-commerce companies expand their businesses.
The U.S. terminal tractor market is influenced by several variables, such as the nation's enormous logistics and transportation network, robust trade, and the expanding demand for effective cargo-handling solutions. There are multiple significant ports, distribution hubs, and manufacturing sites throughout the United States to handle and move commodities.
The expansion of e-commerce and the rising need for quick and effective logistical operations impact the market. The demand for terminal tractors to facilitate the transportation of goods inside warehouses, fulfillment centers, and last-mile delivery hubs is rising as the e-commerce industry expands.
Overall, the United States' strong logistical infrastructure, expanding trade, the emergence of e-commerce, and technological improvements favor the market for terminal tractors. The market offers chances for producers and suppliers to meet the various demands of the US logistics sector and aid in the smooth transportation of goods across the nation.
The nation’s commitment to low-carbon emissions and sustainable transportation favors the Canadian terminal tractor industry. Utilizing electric terminal tractors and alternative fuels to reduce environmental impact and achieve sustainability goals is becoming increasingly important.
The market is expanding due to technological development and the introduction of cutting-edge features in terminal tractors, including automation and telematics. These technologies provide real-time data, optimize route planning, and enable remote monitoring and diagnostics, increasing operational efficiency, productivity, and safety.
Due to the country's commercial operations, port improvements, industrial growth, and emphasis on sustainable transportation, Canada’s terminal tractor market is a vibrant and expanding industry. The market offers an opportunity for producers and suppliers to meet the unique requirements of the Canadian logistics sector and support the nation's effective and dependable cargo-handling operations.
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
"Find new revenue generation opportunities"