The firm projects 5.4% annual growth from 2026, with diesel propulsion leading demand, warehouse and logistics applications expanding fastest, and Europe remaining the second-largest regional market.
MarketsandMarkets said the global terminal tractor market is projected to grow from USD 1.65 billion in 2026 to USD 2.39 billion by 2033, representing a 5.4% compound annual growth rate. The report said diesel terminal tractors are expected to account for the largest propulsion share in 2033, supported by high torque, long runtimes, durability, and the ability to handle continuous heavy-duty yard operations across shipping, logistics, manufacturing, retail, and automotive sectors. It said the warehouse and logistics segment is set to remain the largest and fastest-growing application as fulfillment centers, regional distribution hubs, and cross-docking facilities require more frequent trailer repositioning and faster yard operations. North America is projected to be the largest market during the forecast period, driven by intermodal transportation hub expansion and rising e-commerce fulfillment activity, while Europe is expected to rank second as ports and logistics operators accelerate electrification and automation. The report also highlighted rising cargo volumes at ports, growing rail freight activity, and expanding airport ground handling needs as key drivers, while naming Kalmar, Terberg Special Vehicles, TICO, Capacity Trucks, and MAFI among the leading companies in the market.