by Trailer terminal tractors play an essential role in material handling for transport and logistics operations by efficiently transporting semitrailers within large commercial facilities, distribution centers, or ports. Trailer terminal tractors connect with semitrailers or intermodal containers and transport them to designated areas or yards for loading or unloading of shipments.
The Global Trailer Terminal Tractor Market Size is estimated to be valued at US$ 1.8 billion in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased intermodal transportation has been a key driver for the global trailer terminal tractor market. Intermodal transportation involves the movement of freight in an intermodal container or trailer that allows transfer between different modes of transport like truck and rail without handling the freight itself when changing modes. This lowers transportation costs and improves efficiency. Trailer terminal tractors play a vital role in seamless transfer of shipments from one mode of transportation to another within intermodal facilities and large distribution centers. Advantages like fuel efficiency and reliability has made trailer terminal tractors the preferred tugging solution for growing intermodal activities worldwide.
SWOT Analysis
Strength: Trailer terminal tractors offer high towing power and are equipped with heavy-duty components to handle intense loading and unloading operations in ports, distribution centres and industrial locations. They ensure efficient movement of cargo containers and trailers within terminals.
Weakness: Frequent maintenance is required for trailer terminal tractors due to heavy-duty operations. Moreover, they have high initial purchase and fuel costs.
Opportunity: Growing seaborne trade and development of inland container depots and logistics parks present an opportunity for manufacturers to expand their customer base.
Threats: Fluctuations in raw material prices can increase production costs. Additionally, short replacement cycles of terminal equipment pose a challenge.
Key Takeaways
The global trailer terminal tractor market is expected to witness high growth over the forecast period. The global Trailer Terminal Tractor Market is estimated to be valued at US$ 1.8 billion in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024-2031.
Regional analysis: North America dominates the global market currently due to large presence of ports and well-established logistics infrastructure in the region. The Asia Pacific market is expected to grow at the fastest pace during the forecast period with increasing investments in ports and logistics parks, especially in China, India and Southeast Asian countries.
Key players: Key players operating in the trailer terminal tractor market are Konecranes, Terberg Group, Kalmar, Capacity Trucks, Mol CY nv, TICO Tractors, Faw Group Corporation Automotive, and XCMG Group. Konecranes is one of the leading suppliers of trailer terminal tractors globally with strong presence across major ports. XCMG Group also has a wide product portfolio catering to intralogistics requirements.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
