July 21, 2024
Trailer Terminal Tractor Market

Rising Replacement Cycle Of Aging Fleet To Fuel Growth Of Trailer Terminal Tractor Market

The global Trailer Terminal Tractor Market is estimated to be valued at US$ 6.68 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Trailer terminal tractors, also known as yard jockeys, are heavy-duty trucks used to move semi-trailers within logistics and transportation hubs such as ports, distribution centers and intermodal yards. They connect to the front or rear of semi-trailers to tow them to loading docks or intermodalyard locations for loading and unloading of cargo. Compared to traditional trucks, trailer terminal tractors have higher horsepower ratings, elevated driver positioning for improved visibility and advanced connectivity capabilities for container yard management. Their use reduces transit time and fuel consumption compared to regular trucks.

Market key trends:

One of the key trends in the trailer terminal tractor market is the aging fleet replacement. A major proportion of trailer terminal tractors have been in operation for over 10 years and require replacement due to rising maintenance and repair costs. This is driving OEMs to increase production capacities. Additionally, the growing adoption of automated vehicles for intra-yard operations is expected to gain traction over the forecast period. Trailer terminal tractors equipped with advanced driver assistance systems facilitate autonomous container movements with minimal human intervention. Their use enhances productivity by reducing turnaround times at logistics hubs.

Porter’s Analysis:

Threat of new entrants: Low due to high initial investments required to build terminal facilities, high transportation costs, and existing long term contracts between trailer manufacturers and terminal tractor operators.

Bargaining power of buyers: High as buyers can negotiate prices and demand better service from existing terminal tractor suppliers.

Bargaining power of suppliers: Moderate given the availability of various terminal tractor manufacturers and parts suppliers globally.

Threat of new substitutes: Low as no direct substitute exists for terminal tractors which are highly customized for port operations.

Competitive rivalry: High among key players like Kalmar, Terberg Group, MAFI Transport-System GmbH trying to increase market share through product innovations and geographic expansions.

Key Takeaways:

The Global Trailer Terminal Tractor Market Demand is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing international trade volumes and expanding port logistics infrastructure globally. Asia Pacific dominates the market currently, led by China.

The regional analysis reveals that Asia Pacific dominated the global Trailer Terminal Tractor Market in 2023, accounting for over 35% of the global market share. China has emerged as the largest market driven by the world’s busiest ports and expanding free trade zones. North America and Europe are other major markets supported by vehicle replacement demand and e-mobility innovations.

Key players operating in the Trailer Terminal Tractor Market are Kalmar, Terberg Group, MAFI Transport-System GmbH, Mol CY NV, TICO Tractors, Capacity Trucks, AUTOCAR, LLC, Sinotruk, Dongfeng Trucks, Saic Hongyan Commercial Vehicle, C&C Trucks, Orange EV, BYD, Baumann Manufacturing, Toyota, Taylor-Dunn, and XCMG. The market is anticipated to witness rising consolidation activities through mergers and acquisitions over the forecast period.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it