"World Terminal Tractors/Yardspotters - Market Size, Shares, Segmentation, Competitors, Growth, Channels, & Trends Underlying the Global Manufacture and Markets for Terminal Tractors, aka Yardspotters, Used in Ports & Distribution Terminals - 2018 Data & Analysis, 2019-2023 Outlook & Forecasts"
Terminal tractors are workhorses that ply port terminals and distribution/warehouse areas. They must operate back and forth in all directions and are considered very versatile for the short distance environments in which they operate. Their mission-specific role to keep cargo moving constantly for short distances is becoming more appreciated. Terminal tractors are also at the forefront of heavy vehicles amenable to all-electric transition.
2018 was a unique year in the North American terminal tractor industry. Apprehensions of increase in prices from additional tariffs and trade wars made several customers bring forward orders, resulting in significant growth in sales for all manufacturers. 2018 has been a record year in recent times for all North American terminal tractor manufacturers.
An additional factor driving demand is the growth in e-commerce and last mile deliveries. Companies such as UPS, FedEx and especially Amazon, translating into strong demand for terminal tractors for use in distribution centers.
Distribution center demand is the main growth driver in this segment, with growth rates for tractors used in ports expected to be low, restricted to replacement demand. Port terminal tractors are also facing competition from other port equipment which can potentially do part of the work of terminal tractors.
European manufacturers have also indicated strong growth in sales in 2018. World production of terminal tractors was at record levels in 2018, growing 14.6% over 2017.
Terminal tractor manufacturing is differentiated by region in terms of product specifications, adoption rates and popularity of terminal tractors. North America is the dominant market for terminal tractors. Market leadership positions vary by region. Market penetration requires presence in major markets, and most players have a world presence through a mix of joint ventures, plant locations and distribution arrangements.
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1 Scope2 Product Types
