Report Code: A12642 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Tow Tractor Market
Request Now !Tow tractors are energy efficient vehicles that are used in the transportation of goods and load from one place to another. These vehicles help tow goods and products in warehouses, distribution centres and industries and many other places. Towing tractors offer safety and high efficiency for picking for transportation operations of various types of goods such as stacked goods or unstacked and roller caged goods. These vehicles are usually used in small stocking spaces, narrow passages, steep slopes and uneven surfaces which helps the in economical and convenient transportation. Moreover, these tractors can double the productivity of the work area and reduce the delivery time and operation costs as well. Compared to forklifts, tow tractors can also handle various loads from light to heavy loads more efficiently and safely. There are various types of tow tractors available in the market for different work stations, including pedestrian tractors, stand-in tractors and ride-seated tractors. Installing tractors in distribution centres or warehouses can enhance the efficiency and productivity capacity, improve the safety level of the products, and reduce the number of labour and time required for the transportation of goods.
COVID-19 Impact analysis
Top Impacting Factors
There is an increase in the use of tow tractors owing to rapid expansion of industrial sector. The companies are now adopting the use of technology and machinery to replace the human labour to cut down labour cost as well as increase the efficiency and curtail the time for transportation. Warehouses also hold a significant share in the global market owing to the rapid adoption of tow tractors by retailers and small manufacturing companies. Rise in awareness regarding workers safety, decrease in lead time, and efficient operations boost the growth of the North America tow tractors market during 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, rise in industrial and commercial sectors in the Asia-Pacific region is projected to create demand for new warehouses and distribution centers. This is expected to drive the growth of the tow tractors market in the region during the forecast period. The increase in number of warehouses and various end use industries in Middle East & Africa and Latin America drive the growth of the tow tractors market in the regions.
Key Benefits of the Report
Tow Tractor Market Report Highlights
Aspects | Details |
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By Power Source |
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Key Market Players | Hyster-Yale Group, Inc.,, Alke',, JBT,, Godrej Material Handling,, The Raymond Corporation,, Toyota Material Handling,, Motrec International Inc.,, Simai SPA,, Bradshaw Electric Vehicles,, Jungheinrich AG,, Eagle Tugs,, SPAN Trading LLC., Linde Material Handling,, Polaris Industries, Inc., |
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