Tow Tractors Market: Introduction
The tow tractors are the vehicles used for transporting the loads or goods at any work station or warehouse. It is used in distribution, warehousing and general material handling industries and used for towing and transportation of goods or products. The tow tractors can provide high efficiency and safety in order picking and horizontal transport operations for different type of loads including, un-palletized, palletized, or roller caged loads. The tow tractors are mostly used in small loading areas, steep ramps, narrow aisles, and for uneven surfaces to make the transportation of goods more easy and economical. Furthermore, tow tractors can exponentially increase the productivity of a workspace and reduce the lead time and operational costs. It can also handle various loads ranging from light duty to heavy duty with more efficient and secure manner compared to forklifts. The tow tractors can be of various types including, pedestrian towing tractors, stand-in towing tractors and rider-seated towing tractors. The installation of tow tractors in a warehouse or distribution centres can provide increased efficiency & productivity, enhanced product safety, reduced labor requirement and reduced goods transportation time in the workstations.
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Tow Tractors Market: Dynamics
The logistics and transportation industry is growing at a significant rate owing to, increasing number of warehouses, distribution centres etc. across the globe. Additionally, the growing trade of industrial and commercial products are projected increase the demand for transportation and storage facilities. These factors are expected to be one the prominent factors driving the demand for tow tractors at a significant rate over the forecast period. Furthermore, the tow tractors offers easy storage and optimized transportation operations in a warehouse or distribution centre. To operate tow tractors a semi-skilled labor is required which can reduce the requirement of professional personnel. Moreover, the increasing automation of storage facilities and warehouses is increasing at a significant rate in emerging countries. Also, the increasing labor costs in developing countries expected to create demand for tow tractors in the market. However, the high maintenance cost and initial investment of tow tractors anticipated to hamper the growth of tow tractors market over the forecast period.
Tow Tractors Market: Segmentation
| On the basis of product type | Pedestrian Towing TractorsStand-In Towing TractorsRider-Seated Towing Tractors |
| On the basis of load capacity | Light-duty Tow TractorsMedium-duty Tow TractorsHeavy-duty Tow Tractors |
| On the basis of power source | ElectricFuel |
| On the basis of application | Railway StationsAirportsSupermarketIndustriesWarehousesOthers (Distribution Centres, Military Cargo Stations etc.) |
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Tow Tractors Market: Regional Outlook
Growing awareness regarding workers safety, lowering the lead time, efficient operations, among other factors to significantly boost the growth of the North America tow tractors market over the forecast period. Europe is expected to account for a prominent share in the global tow tractors market owing to high labor costs and stringent government regulations for material handling by European Union. Furthermore, the growing industrial and commercial sectors in Asia Pacific region projected to create demand for new warehouses, distribution centres, etc. This is expected to drive the tow tractors market in the region over the forecast period. The increasing number of warehouses and various end use industries in Middle East & Africa and Latin America driving the tow tractors market in the regions.
Tow Tractors Market: Key Players
Some of the market participants in the global tow tractors market are:
- Jungheinrich AG
- Toyota Material Handling
- Bradshaw Electric Vehicles
- Polaris Industries, Inc.
- Hyster-Yale Group, Inc.
- Linde Material Handling
- Motrec International Inc.
- The Raymond Corporation
- JBT
- Alke’
- Godrej Material Handling
- Eagle Tugs
- Simai SPA
- SPAN Trading LLC.
The research report presents a comprehensive assessment of the tow tractors market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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