Global Tow Tractor Market to Worth $2.88 Billion by 2028 - Exclusive Market Research Report by Arizton

CHICAGO, Feb. 22, 2023 /PRNewswire/ -- According to Arizton's latest research report, the tow tractor market is expected to grow at a CAGR of 6.59% during 2022-2028. In 2022, APAC held the largest global tow tractor market share, accounting for 45.11%. Factors such as rising urbanization, increasing trade investments, and rapidly growing industries drive the demand for tow tractors in the region.

Heavy-duty equipment, such as ride-on tow tractors, is used extensively in various areas, particularly in specialist aircraft material handling facilities. Maintaining air cargo shipping increases the logistics services, increasing the demand for tow tractors. Furthermore, the Federal Aviation Administration in the U.S. is focused on initiatives, such as Noise Compatibility Program and Voluntary Airport Low Emissions (VALE) Program to support airport sustainability by providing Airport Improvement Program funds to develop comprehensive sustainability planning documents. Hence, such initiatives by the U.S. government have promoted the sustainability of airports, thereby providing an opportunity for electric tow tractor manufacturers to gain profit margins by offering their products in the country for aircraft material handling.

Global Tow Tractor Market Report Scope

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Manufacturers are focusing on innovating their products to meet customer needs for automatic material handling, enabling the automation of logistics processes in indoor and outdoor environments. TractEasy is a driverless, electric tow tractor enabling autonomous material handling in indoor and outdoor logistics processes and airports. TractEasy marks a new generation of AGVs optimizing logistics operations through cost reduction, productivity increase, and higher levels of safety. Its technology allows the autonomous tow tractor to cope with various environmental and traffic conditions across indoor/outdoor surroundings, enlarging potential use cases over the level of current AGV solutions. Hence, the demand for autonomous tow tractors is expected to boom in the upcoming years.  

The tow tractor market in the APAC region witnessed robust growth owing to the growing economies and the setting up of new manufacturing units by global OEMs. In 2022, the APAC region dominated the global tow tractor market, valued at USD 886.41 million. APAC has emerged as the world's manufacturing hub with the highest adoption rate of industrial robots (which helps in aiding the warehousing, logistics, and manufacturing sectors). As per the International Federation of Robotics (IFR), the robot density in China is the most dynamic globally. Such factors are anticipated to support regional industry growth. Moreover, the increasing e-commerce industry in the APAC region is driving the growth of the tow tractor market.

Key Vendors

• Jungheinrich AG
• Alke
• Toyota Material Handling
• Bradshaw
• Eagle Tugs
• Helge Nyberg AB
• Hyster-Yale Group, Inc.,
• Godrej Material Handling
• Linde Material Handling
• Motrec International Inc.
• John Bean Technologies
• STILL
• Kalmar Motors
• VOLK
• Spijkstaal International B.V.

Market Segmentation

Product Type

• Manual
• Self-Driven

Sub-product Type

• Rider-seated
• Stand-in
• Pedestrian

Load Capacity

• Light Duty
• Medium Duty
• Heavy Duty

Fuel Type

• Electric
• Diesel
• Gas
• Propane

Application

• Intralogistics & Warehousing
• Industrial
• Aerospace
• Food & Beverages
• Others

Sales Channel

• Direct Sales
• Indirect Sales

Geography

• APAC
• China
• Japan
• India
• South Korea
• Australia
• Europe
• Germany
• The UK
• France
• Italy
• Spain
• North America
• The US
• Canada
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• The UAE

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Table of Content

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION

4.1.1 INCLUSIONS

4.1.2 EXCLUSIONS

4.1.3 MARKET ESTIMATION CAVEATS

4.2 BASE YEAR

4.3 SCOPE OF THE STUDY

4.4 MARKET SEGMENTATION

4.4.1 MARKET SEGMENTATION BY PRODUCT TYPE

4.4.2 MARKET SEGMENTATION BY SUB-PRODUCT TYPE

4.4.3 MARKET SEGMENTATION BY LOAD CAPACITY

4.4.4 MARKET SEGMENTATION BY POWER SOURCE

4.4.5 MARKET SEGMENTATION BY APPLICATION

4.4.6 MARKET SEGMENTATION BY SALES CHANNEL

4.4.7 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 PREMIUM INSIGHTS

6.1 KEY MARKET INSIGHTS

6.2 OVERVIEW

6.3 MARKET DYNAMICS: DRIVERS AND RESTRAINTS

6.3.1 MARKET DRIVERS

6.3.2 MARKET RESTRAINTS

6.4 GEOGRAPHICAL ANALYSIS

6.5 SEGMENTATION ANALYSIS

6.5.1 PRODUCT TYPE

6.5.2 APPLICATION TYPE

6.6 COMPETITIVE LANDSCAPE

7 MARKET AT A GLANCE

8 INTRODUCTION

8.1 OVERVIEW

8.2 INDUSTRY 4.0

8.3 ADVANTAGES OF TOW TRACTORS

8.3.1 SAFE WAY OF TRANSPORTATION

8.3.2 LESS MOVEMENT, LESS COST

8.3.3 EFFECTIVE MATERIAL HANDLING

8.4 VALUE CHAIN

8.4.1 RAW MATERIALS

8.4.2 MANUFACTURERS/VENDORS

8.4.3 DEALERS/DISTRIBUTORS

8.4.4 RETAILERS

8.4.5 END-USERS

9 MARKET OPPORTUNITIES & TRENDS

9.1 INCREASING LOGISTICS SERVICE PROVIDERS

9.2 EXPANSION OF AVIATION INDUSTRY

9.3 EVOLUTION IN BATTERIES

10 MARKET GROWTH ENABLERS

10.1 RISING SUATAINIBILY AWARENESS

10.2 FLUCTUATION IN FUEL PRICES (PETROL)

10.3 GROWING AUTOMATION IN INDUSTRIES

11 MARKET RESTRAINTS

11.1 VIOLATION IN MATERIAL PRICES

11.2 RISING EMISSIONS BY DIESEL CONSUMPTION

12 MARKET LANDSCAPE

12.1 MARKET SIZE & FORECAST

12.2 FIVE FORCES ANALYSIS

12.2.1 THREAT OF NEW ENTRANTS

12.2.2 SUPPLIER

12.2.3 BUYERS

12.2.4 SUBSTITUTES

12.2.5 COMPETITIVE RIVALRY

13 PRODUCT TYPE

13.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

13.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)

13.3 MARKET OVERVIEW

13.4 MANUAL

13.4.1 MARKET OVERVIEW

13.4.2 MARKET SIZE & FORECAST

13.4.3 MARKET BY GEOGRAPHY

13.5 SELF-DRIVEN

13.5.1 MARKET OVERVIEW

13.5.2 MARKET SIZE & FORECAST

13.5.3 MARKET BY GEOGRAPHY

14 SUB-PRODUCT TYPE

14.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

14.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)

14.3 MARKET OVERVIEW

14.4 RIDER-SEATED

14.4.1 MARKET OVERVIEW

14.4.2 MARKET SIZE & FORECAST

14.4.3 MARKET BY GEOGRAPHY

14.5 STAND-IN

14.5.1 MARKET OVERVIEW

14.5.2 MARKET SIZE & FORECAST

14.5.3 MARKET BY GEOGRAPHY

14.6 PEDESTRIAN

14.6.1 MARKET OVERVIEW

14.6.2 MARKET SIZE & FORECAST

14.6.3 MARKET BY GEOGRAPHY

15 LOAD CAPACITY

15.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

15.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)

15.3 MARKET OVERVIEW

15.4 LIGHT DUTY

15.4.1 MARKET OVERVIEW

15.4.2 MARKET SIZE & FORECAST

15.4.3 MARKET BY GEOGRAPHY

15.5 HEAVY DUTY

15.5.1 MARKET OVERVIEW

15.5.2 MARKET SIZE & FORECAST

15.5.3 MARKET BY GEOGRAPHY

15.6 MEDIUM DUTY

15.6.1 MARKET OVERVIEW

15.6.2 MARKET SIZE & FORECAST

15.6.3 MARKET BY GEOGRAPHY

16 POWER SOURCE

16.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

16.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)

16.3 MARKET OVERVIEW

16.4 ELECTRIC

16.4.1 MARKET OVERVIEW

16.4.2 MARKET SIZE & FORECAST

16.4.3 MARKET BY GEOGRAPHY

16.5 DIESEL

16.5.1 MARKET OVERVIEW

16.5.2 MARKET SIZE & FORECAST

16.5.3 MARKET BY GEOGRAPHY

16.6 GAS

16.6.1 MARKET OVERVIEW

16.6.2 MARKET SIZE & FORECAST

16.6.3 MARKET BY GEOGRAPHY

16.7 PROPANE

16.7.1 MARKET OVERVIEW

16.7.2 MARKET SIZE & FORECAST

16.7.3 MARKET BY GEOGRAPHY

17 APPLICATION

17.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

17.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)

17.3 MARKET OVERVIEW

17.4 INTRALOGISTICS & WAREHOUSING

17.4.1 MARKET OVERVIEW

17.4.2 MARKET SIZE & FORECAST

17.4.3 MARKET BY GEOGRAPHY

17.5 INDUSTRIAL

17.5.1 MARKET OVERVIEW

17.5.2 MARKET SIZE & FORECAST

17.5.3 MARKET BY GEOGRAPHY

17.6 AEROSPACE

17.6.1 MARKET OVERVIEW

17.6.2 MARKET SIZE & FORECAST

17.6.3 MARKET BY GEOGRAPHY

17.7 FOOD & BEVERAGE

17.7.1 MARKET OVERVIEW

17.7.2 MARKET SIZE & FORECAST

17.7.3 MARKET BY GEOGRAPHY

17.8 OTHERS

17.8.1 MARKET OVERVIEW

17.8.2 MARKET SIZE & FORECAST

17.8.3 MARKET BY GEOGRAPHY

18 SALES CHANNEL

18.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

18.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)

18.3 MARKET OVERVIEW

18.4 DIRECT SALES

18.4.1 MARKET OVERVIEW

18.4.2 MARKET SIZE & FORECAST

18.4.3 MARKET BY GEOGRAPHY

18.5 INDIRECT SALES

18.5.1 MARKET OVERVIEW

18.5.2 MARKET SIZE & FORECAST

18.5.3 MARKET BY GEOGRAPHY

19 GEOGRAPHY

19.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)

19.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)

19.3 GEOGRAPHIC OVERVIEW

20 APAC

20.1 MARKET SIZE & FORECAST

20.1.1 PRODUCT TYPE

20.1.2 SUB-PRODUCT TYPE

20.1.3 LOAD CAPACITY

20.1.4 POWER SOURCE

20.1.5 APPLICATION

20.1.6 SALES CHANNEL

20.2 KEY COUNTRIES

20.2.1 MARKET SNAPSHOT & GROWTH RATE (VALUE)

20.2.2 MARKET SNAPSHOT & GROWTH RATE (VOLUME)

20.2.3 CHINA: MARKET SIZE & FORECAST

20.2.4 JAPAN: MARKET SIZE & FORECAST

20.2.5 INDIA: MARKET SIZE & FORECAST

20.2.6 SOUTH KOREA: MARKET SIZE & FORECAST

20.2.7 AUSTRALIA: MARKET SIZE & FORECAST

21 EUROPE

21.1 MARKET SIZE & FORECAST

21.1.1 PRODUCT TYPE

21.1.2 SUB-PRODUCT TYPE

21.1.3 LOAD CAPACITY

21.1.4 POWER SOURCE

21.1.5 APPLICATION

21.1.6 SALES CHANNEL

21.2 KEY COUNTRIES

21.2.1 MARKET SNAPSHOT & GROWTH RATE (VALUE)

21.2.2 MARKET SNAPSHOT & GROWTH RATE (VOLUME)

21.2.3 GERMANY: MARKET SIZE & FORECAST

21.2.4 UK: MARKET SIZE & FORECAST

21.2.5 FRANCE: MARKET SIZE & FORECAST

21.2.6 ITALY: MARKET SIZE & FORECAST

21.2.7 SPAIN: MARKET SIZE & FORECAST

22 NORTH AMERICA

22.1 MARKET SIZE & FORECAST

22.1.1 PRODUCT TYPE

22.1.2 SUB-PRODUCT TYPE

22.1.3 LOAD CAPACITY

22.1.4 POWER SOURCE

22.1.5 APPLICATION

22.1.6 SALES CHANNEL

22.2 KEY COUNTRIES

22.2.1 MARKET SNAPSHOT & GROWTH RATE (VALUE)

22.2.2 MARKET SNAPSHOT & GROWTH RATE (VOLUME)

22.2.3 US: MARKET SIZE & FORECAST

22.2.4 CANADA: MARKET SIZE & FORECAST

23 LATIN AMERICA

23.1 MARKET SIZE & FORECAST

23.1.1 PRODUCT TYPE

23.1.2 SUB-PRODUCT TYPE

23.1.3 LOAD CAPACITY

23.1.4 POWER SOURCE

23.1.5 APPLICATION

23.1.6 SALES CHANNEL

23.2 KEY COUNTRIES

23.2.1 MARKET SNAPSHOT & GROWTH RATE (VALUE)

23.2.2 MARKET SNAPSHOT & GROWTH RATE (VOLUME)

23.2.3 BRAZIL: MARKET SIZE & FORECAST

23.2.4 MEXICO: MARKET SIZE & FORECAST

23.2.5 ARGENTINA: MARKET SIZE & FORECAST

24 MIDDLE EAST & AFICA

24.1 MARKET SIZE & FORECAST

24.1.1 PRODUCT TYPE

24.1.2 SUB-PRODUCT TYPE

24.1.3 LOAD CAPACITY

24.1.4 POWER SOURCE

24.1.5 APPLICATION

24.1.6 SALES CHANNEL

24.2 KEY COUNTRIES

24.2.1 MARKET SNAPSHOT & GROWTH RATE (VALUE)

24.2.2 MARKET SNAPSHOT & GROWTH RATE (VOLUME)

24.2.3 SOUTH AFRICA: MARKET SIZE & FORECAST

24.2.4 SAUDI ARABIA: MARKET SIZE & FORECAST

24.2.5 UAE: MARKET SIZE & FORECAST

25 COMPETITIVE LANDSCAPE

25.1 COMPETITION OVERVIEW

26 KEY COMPANY PROFILES

26.1 JUNGHEINRICH AG

26.1.1 BUSINESS OVERVIEW

26.1.2 PRODUCT OFFERINGS

26.1.3 KEY STRATEGIES

26.1.4 KEY STRENGTHS

26.1.5 KEY OPPORTUNITIES

26.2 ALKE

26.3 TOYOTA MATERIAL HANDLING

27 OTHER PROMINENT VENDORS

27.1 BRADSHAW

27.1.1 BUSINESS OVERVIEW

27.1.2 PRODUCT OFFERINGS

27.2 EAGLE TUGS

27.3 HELGE NYBERG

27.4 HYSTER-YALE GROUPS

27.5 GODERJ MATERIAL HANDLING

27.6 LINDE MATERIAL HANDLING

27.7 MOTREC INTERNATIONAL INC

27.8 JOHN BEAN TECHNOLOGIES

27.9 STILL

27.10 KALMAR MOTORS

27.11 VOLK

27.12 SPIJKSTAAL INTERNATIONAL B.V

28 REPORT SUMMARY

28.1 KEY TAKEAWAYS

28.2 STRATEGIC RECOMMENDATIONS

29 QUANTITATIVE SUMMARY

29.1 MARKET BY GEOGRAPHY

29.2 MARKET BY PRODUCT TYPE

29.3 MARKET BY SUB-PRODUCT TYPE

29.4 MARKET BY LOAD CAPACITY

29.5 MARKET BY POWER SOURCE

29.6 MARKET BY APPLICATION

29.7 MARKET BY SALES CHANNEL

30 APPENDIX

30.1 ABBREVIATIONS

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