Automated Tow Tractor Market Share

APAC Market Statistics

Regionally, the global automated tow tractor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is poised to dominate majority revenue share by 2036, on the back of industrial development, coupled with growing automotive industry in the region. Moreover, growing manufacturing industry in the countries, such as, Japan, Korea, and China, with Japan alone manufacturing more than 7 million automobiles annually, as of 2019, is estimated to boost the demand for automated tow tractor in the distribution centers and warehouses, which is expected to boost the market growth.

Europe Market Analysis

The automated tow tractor market in the Europe Region is also projected to gain notable market share over the forecast period on the back of growing demand for enhanced material handling solutions, fueled by the rising number of industries in the region.

Frequently Asked Questions (FAQ)

Growing demand for automated vehicles in the manufacturing industries and advancement in technology are the major factors driving the market growth.

The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.

High costs of automated vehicles is a major factor estimated to hamper the market growth.

The market in the Asia Pacific will provide the highest growth opportunities for the market during the forecast period on the back of increasing manufacturing industry and automotive industry in the region.

The major players in the market are Jungheinrich AG, KUKA Aktiengesellschaft, SPAN Trading LLC., Toyota Industries Corporation, Godrej & Boyce Manufacturing Co. Ltd., Linde Material Handling GmbH, Motrec International Inc., Polaris Inc., AlkÃ¨ s.r.l. and others.

Automated Tow Tractor Market Share