The latest market report published by Credence Research, Inc. “Global Yard Truck Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2030”. The Global Yard Truck Market generated revenue of around USD X.X billion in 2022 and is anticipated to grow a CAGR of over X.X% during the forecast period from 2023 to 2030 to reach around USD X.X billion in 2030.
The rising number of warehouses & distribution centers coupled with expanding construction and logistics market is among the major factors boosting the yard truck market growth. Increasing penetration of automated systems are an extremely pivotal role in market growth. Yard trucks’ mobility and maritime capabilities are also expcted to to aid the market growth during the forecast period. Moreover, companies in the market are focusing on launching new products to diversify their existing portfolio.
The global Yard Truck market is bifurcated into Type Application, Distribution Centers, and Geography. Based on type, the market is categorized into diesel and electric. On the basis of application, the global market is segmented into warehouses. Based on Distribution Center, the market is fragmented into intermodal, ports, and rail terminals. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America dominated the global yard truck market and accounted for a major market revenue share. Increasing demand for goods is anticipated to increase the demand for freight and fuel the demand for yard trucks. Moreover, new product launches and the interaction of automation are also enabling market growth. As the demand for goods is increasing, there have been higher import and export activities, and as yard trucks are compact and used to transport various goods, the demand for yard trucks is growing.
The Yard Truck Market offers plenty of opportunities for businesses to get involved in this growing industry. A few notable opportunities include:
1) Increasing demand for yard trucks: The demand for yard trucks is on the rise as more and more businesses look to move their operations outdoors. This presents a great opportunity for businesses that manufacture or sell these types of vehicles.
2) Growing market for used yard trucks: As the market for yard trucks grows, so does the market for used ones. This presents an opportunity for businesses that deal in used vehicles, such as dealerships or rental companies.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global Yard Truck market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global yard truck market segmentation based on Type Application, Distribution Centres.
- The Yard Truck market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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