Global Tow Tractor Market was valued $xx Mn in 2019 and is expected to reach $xx Mn by 2026, at a CAGR of xx% during the forecast period.
Global Tow Tractor Market Introduction
Tow tractors are warehouse machines that handle various materials. They are usually used for transporting raw materials in warehouses and pallets of other goods. Other than using tow tractors for work in warehouses, they can also be used in locations such as airports for moving cargo and baggage as well as to pull out the aircraft when it is preparing to depart. Tow tractors are ideal for applications such as manufacturing processes as well as horizontal transport over distances.
Global Tow Tractor Market Dynamics
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. The rising use of tow tractors to reduce the labor and to save the time of transportation is augmenting the growth of the tow tractors market. Furthermore, tow tractors increase productivity, reduce operational cost, and are also able to handle goods more
secure and efficient manner, thus, rising demand for the tow tractor among the end-user which fuels the growth of the market.
Compared to forklifts, tow tractors can handle various loads from light to heavy loads more safely and efficiently. Installing tractors in distribution centers or warehouses can enhance the efficiency and productivity, improve the safety of products and reduce the number of labor and time required for goods transportation.
Global Tow Tractor Market Segment Analysis
Rider-seated towing tractors hold the major share in the global market owing to the wide utilization of these tractors in factories and big industries for transporting goods and cargos, within the factory premises. The rider-seated towing tractors are more comfortable as compared to others and are more powerful as they have the ability to transfer heavy-duty cargo in one trip. They provide comfort to the driver and are highly convenient for transportation. Stand-in towing tractor segment also held a significant share in the global market as they are widely used in warehouses, supermarkets, and other small places to transport. The rapid expansion of the industrial sector is boosting the market growth for tow tractors.
Global Tow Tractor Market
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Global Tow Tractor Market Regional Insights
Global Tow Tractor Market Regional InsightsThe market in North America is expected to dominate the market during the forecast period owing to the growing awareness regarding workers safety, lowering the lead time, efficient operations, among other factors. 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 the Asia Pacific region are expected to create demand for new warehouses, distribution centers, etc. This is expected to drive the tow tractors market in the region over the forecast period.
Global Tow Tractor Market Report Scope: Inquire before buying
Global Tow Tractor Market
Global Tow Tractor Market, by Region
• North America
• South America
• Asia Pacific
Global Tow Tractor Market Key Players
• Bradshaw Electric Vehicles
• Eagle Tugs
• Godrej Material Handling
• Helge Nyberg AB
• Jungheinrich AG
• Linde Material Handling
• Motrec International Inc.
• Polaris Inc.
• Polaris Industries, Inc.
• Simai SPA
• SPAN Trading LLC.
• The Raymond Corporation
• Toyota Material Handling
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