Share
Automated Tow Tractor Market: Segmented: By Type (Stand-In, Rider Seater, Others), By Automation (Partial Automation, Driver Assistance, High Automation, Others), By Capacity (Light-Duty, Medium-Duty, Heavy-Duty), By Application (Industrial, General Manufacturing, Supermarket, Airports & Railways, Others), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
[ 170 + Pages Research Report ] Automated Tow Tractor Market to surpass USD 1,485.3 million by 2031 from USD 981.68 million in 2021 at a CAGR of 4.2% in the coming years, i.e., 2021-2031.
For load transfers in workplaces with constrained space, an automated tow tractor with an operator platform is built. 3000–5000-kilogram towing loads are within its range of capability. Delivery of production inputs, waste product removal, and transportation of bigger loads are typical usage in industrial settings and warehouses. Thus, the tow tractors serve as a crucial link in the supply chain from the point of production to the delivery location, whether they are operating independently or as a fleet of autonomous vehicles. The robust and adaptable cars offer strong, upkeep-free drive motors with a lot of torque.
The Global Automated Tow Tractor Market is expected to project a notable CAGR of 4.2% in 2031.
Over the course of the forecast period, the market is anticipated to be driven by factors including technological advances and recent breakthroughs in robotics and automation technologies. Additionally, automated tow tractors are more productive and economical in the long run since they demand less human involvement in the operation, which sharply reduces labor expenses.
The Medium-Duty segment is expected to grow with the highest CAGR during 2021-31
Based on Capacity, the global Automated Tow Tractor Market is fragmented into Light-Duty, Medium-Duty, and Heavy-Duty. Due to the increased acceptance of automated vehicles and equipment in the commercial sector, the medium-duty category is predicted to hold the majority of the market share over the projection period, while the construction industry and other significant industries rely on tow tractors without automation.
The Supermarket segment is expected to grow with the highest CAGR during 2021-31
Global Automated Tow Tractor Market is classified on the basis of application into Industrial, General Manufacturing, Supermarket, Airports & Railways, and Others. Due to the expansion of supermarkets and consumers, the supermarket category is predicted to hold a sizable market share during the projection period.
The growing demand for proper goods handling solutions is propelling the market
The demand for goods handling solutions from manufacturers of consumer products to manage their inventory in warehouses will drive growth in the market for automated tow tractors. Additionally, it is predicted that developments in robotics and automation technology would accelerate market expansion. Additionally, increasing demand for tow tractors for numerous applications, including manufacturing, warehouses, railway stations, and airports, is anticipated to support market expansion.
Advantages and features of Tow Tractors like design and durability
Automated tow tractors don't produce exhaust emissions, it is possible to develop models for interior use. Additionally, these tractors cost less to maintain and have a longer lifespan than traditional versions. To increase their use indoors, manufacturers are focusing on stock rooms, warehouses, and sales floors.
High cost associated with the Automated Tow Tractor
The expansion of the market for automated tow tractors is anticipated to be constrained by worker ignorance, lack of scientific temperament, and greater cost of automated tow tractors.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Automated Tow Tractor Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. On account of the rising need for improved material handling solutions, which is being supported by the expansion of industries, Asia Pacific is expected to hold the greatest share and increase at a significant rate over the forecast period. Europe Region is also anticipated to earn a sizable market share over the course of the forecast year.
During the current COVID-19 problem, crucial industries like supermarkets, PPE (Personal Protective Equipment) manufacturers for the pharmaceutical industry, and airports are increasing demand for tow tractors. In applications involving material handling, driverless tow tractors are becoming more significant. However, the installation of charging stations is necessary for electric tow tractors, which is hurting their sales. Companies should therefore raise knowledge of the benefits, which include minimal to no emissions and inexpensive operation and maintenance costs compared to those powered by traditional engines. As a result, producers in the tow tractor market are expanding the selection of models that allow for simple movement.
Global Automated Tow Tractor Market is further segmented by region into:
Automated Tow Tractor Market Segments:
| Report Attribute | Details |
| Market size value in 2021 | USD 981.68 million |
| Revenue forecast in 2031 | USD 1,485.3 million |
| Growth Rate | CAGR of 4.2% from 2021 to 2031 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2031 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Type, Automation, Capacity, Application, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
|
Key companies profiled |
Hyster-Yale Materials Handling Inc., Jungheinrich AG, KUKA Aktiengesellschaft, SPAN Trading LLC., Toyota Industries Corporation, Godrej & Boyce Manufacturing Co. Ltd., Linde Material Handling GmbH, Motrec International Inc., Polaris Inc., Alkè s.r.l., and Other Prominent Players. |
Automated Tow Tractor Market to surpass USD 1,485.3 million by 2031 from USD 981.68 million in 2021 at a CAGR of 4.2% in the coming years, i.e., 2021-2031.
Hyster-Yale Materials Handling Inc., Jungheinrich AG, KUKA Aktiengesellschaft, SPAN Trading LLC., Toyota Industries Corporation, Godrej & Boyce Manufacturing Co. Ltd., Linde Material Handling GmbH, Motrec International Inc., Polaris Inc., Alkè s.r.l., and Other Prominent Players
The Medium-Duty segment is expected to grow with the highest CAGR during 2021-31 and The Supermarket segment is expected to grow with the highest CAGR during 2021-31 are anticipated to hold the Automated Tow Tractor Market
Drivers The growing demand for proper goods handling solutions is propelling the market
For load transfers in workplaces with constrained space, an automated tow tractor with an operator platform is built. 3000–5000-kilogram towing loads are within its range of capability. Delivery of production inputs, waste product removal, and transportation of bigger loads are typical usage in industrial settings and warehouses.
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
