Market Leaders - Terminal Tractor Market
The global terminal tractor market is projected to grow from USD 802 million in 2022 to USD 1,042 million by 2027, at a CAGR of 5.4% during the forecast period. The growth of the e-commerce sector, in conjunction with the increasing need for advanced material handling equipment in industries for better productivity, is anticipated to increase the demand for terminal tractors around the world.
The port industry is focused on the development of automated and electric vehicles, and a similar trend has been witnessed in the field of terminal tractors as well. Key equipment manufacturers have invested in R&D for the electrification of heavy equipment. Kalmar (Finland), Terberg Special Vehicles (Netherlands), Capacity Trucks (US), MAFI Transport-Systeme GmbH (Germany), and TICO Tractors (US) are some of the leading players in the terminal tractor market.
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New product development, partnerships and supply contract strategy have been the most dominating strategy adopted by major players from 2019 to 2022, which helped them to innovate their offerings and broaden their customer base. For instance, in January 2022, Kalmar signed a strategic partnership with Coast Autonomous Inc. and developed a new and advanced Kalmar Robotic Portfolio. The products include a line of future mobile equipment solutions that are intelligent, flexible, and autonomous and are intended to increase cargo and material handling productivity, safety, and eco-efficiency in ports and terminals, distribution centers, and heavy logistics.
Terbergs focus is on developing next-generation electric terminal tractors. The electric motor’s performance is comparable to that of a diesel engine. Customers can choose from multiple battery capacity combinations best suited for their operations. Additionally, the new battery technology, which features a thermal management system (TMS), has an extended temperature range and hence can be used worldwide in both, very cold and warm climates. In June 2022, The fully automated electric tractor operates autonomously alongside other tractors, cars, and people in a container terminal with mixed traffic.
In July 2021, Terberg’s concept hydrogen terminal tractor completed a test period at the Antwerp Euroterminal in Beveren, Belgium, after it was tested in two customer sites in the Netherlands. During the test, a mobile hydrogen filling station was used. Terberg Special Vehicles will use the results of these and other tests to rectify the design and build the pre-production series in 2022. The commercial introduction of the hydrogen-powered tractor is planned for 2023.
Capacity Trucks has served as the yard truck manufacturer for ports and railroad hubs all over the world for more than 45 years. Although the needs for heavy and lighter transportation are different, capacity trucks are made to be tough performers. Customer-centric culture, a dealer network, and industry-leading warranties are the key assets of the company as a service provider. In August 2021, The company launched a hydrogen fuel cell electric truck; it also reported that it created the first terminal truck in North America.
Related Reports:
Terminal Tractor Market by Type, Drive, Tonnage, Propulsion, Application (Airport, Marine, Oil & Gas, Warehouse & Logistics), Industry (Retail, Food & Beverages, Inland Waterways & Marine Services, Rail Logistics, RoRo) & Region - Global Forecast to 2027
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