Industrial Tractor Market - Introduction
Industrial tractors is the term used for tractors that are specially designed for industrial applications. Industrial tractors are utilized for pulling operations and are not fitted with the three point linkages, instead they are fitted with drawbars. Moreover, industrial tractors have only the basic design of tractors and have tires that suitable for use on road and yards. Solid tires are preferably used in industrial tractors.
Industrial Tractor Market - Competitive Landscape
AGCO Corporation, TOYOTA INDUSTRIES CORPORATION, Mahindra & Mahindra, TAFE, John Deere, UniCarriers, and DEUTZ-FAHR are leading manufacturers of industrial tractors. Most of the listed manufacturers have presence in farm tractor manufacturing which, by changing the attachment of the tractor, have been extensively utilized for material handling in various industries. TOYOTA INDUSTRIES CORPORATION is a prominent player in the manufacture of material handling equipment. Its wide product portfolio includes electric equipment that are utilized for industrial applications.
Established in 1990, AGCO Corporation is presently based in Duluth, Georgia, U.S. It is a leading manufacturer of utility tractors. The company has a global presence with manufacturing & distribution facilities located across North America, South America, Asia Pacific & Africa, Europe, and the Middle East.
TOYOTA INDUSTRIES CORPORATION
Founded in 1926, TOYOTA INDUSTRIES CORPORATION is headquartered in Aichi, Japan. It is a leading manufacturer of industrial tractors. The company has global presence and specializes in the development of latest technologies for towing tractors. In February 2019, the company collaborated with Japan’s prominent airline company, All Nippon Airways, for trial of Japan’s first autonomous towing tractors at Saga Airport, Japan.
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Mahindra & Mahindra Ltd.
Established in 1945, Mahindra & Mahindra is presently based in Mumbai, India. The company has global presence and has a wide product portfolio. Mahindra & Mahindra Ltd. has presence in diverse service and manufacturing sectors and is a leading automotive company based in India. The company is a leader player in the global tractor market and has sold the largest volume of tractors across globe.
Deere & Company
Deere & Company is a leading manufacturer of tractors. The company’s headquarters are presently located in Grand Detour, Illinois, U.S. It operates through a network of facilities spread across 30 countries worldwide. The company operates through four major business segments: Deere equipment operations, construction & forestry, agriculture & turf, and financial services.
Industrial Tractor Market Dynamics
Expansion of industries across globe with high investment of the manufacturing companies in developing regions
Industries across the globe are expanding at a significant pace, owing to rising consumption of the goods by society. Increased purchase power parity and technological development have been boosting the industrial sector in the last few years. Large number of equipment are used for easy management of goods within the within the manufacturing premises or within the manufacturing location, which is driving the demand for industrial tractors significantly.
Adoption of automation among industries is significantly boosting the demand for industrial tractors, as they reduce the involvement of humans required to tow or shift material or goods within the production or manufacturing facility. Developing nations are likely to propel the market for industrial tractor owing to the increase in number of industries in developing countries.
Market for the electric and autonomous industrial tractor is anticipated to expand significantly across the globe, owing to high focus on the adoption of clean fuel and higher precision work.
Use of farm tractors in small-scale industries
Most small-scale industries use farm tractors to carry out hauling or pulling operations within the production or manufacturing facility and in several cases, they are used by installing the loaders bucket in the tractors. This, in turn, is significantly hampering the industrial tractor market. Moreover, several small-scale industries employ forklifts for multiple applications and hence, do not require industrial tractors, which in turn is hindering the industrial tractor market.
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Industrial Tractor Market Segmentation
Based on application, the industrial tractor market can be classified into
- Warehouse/ Manufacturing industries
- Vehicle Fleets
Based on the autonomy level, the industrial tractor market can be divided into
- Fully Autonomous
Based on fuel type, the industrial tractor market can be split into
- Diesel Tractors
- Gasoline Tractors
- Electric Tractors
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