Electric Tugs Market Size, Share, Opportunities, And Trends By Battery Type (AGM Battery, Lithium Battery), By Capacity (Up To 1000Kg, 1000Kg – 5000Kg, 5000Kg – 10,000Kg, Above 10,000Kg), By Application (Warehouses, Manufacturing Units, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Dec 2023
- Report Code : KSI061616389
- Pages : 149
The electric tugs market is projected to show steady growth during the forecast period.
Electric tugs, also known as electric tow tractors or electric tow vehicles, are vehicles that use an electric motor to move heavy loads. These electric tugs are typically low-profile with robust construction, allowing them to operate in tight spaces and pull various types of equipment, trailers, or carts. Such tugs are commonly used in manufacturing units, factories, warehouses, and logistics centers. The establishment of manufacturing plants and favourable investments in warehouses have contributed to the expansion of the electric tugs market.
Market Drivers
- The establishment of aircraft manufacturing plants propels the electric tugs market upwards.
Electric tugs are used in aerospace manufacturing units as they are more environmentally friendly than other tugs. They emit 0% greenhouse gases, lowering the carbon footprint of aerospace manufacturing operations. Due to its advanced facility to transport heavy machinery, aircraft components, and other large items the adoption of electric tugs increased within a manufacturing facility. The ongoing establishment of new aircraft manufacturing units bolsters the growth of the electric tugs market. For instance, according to the Press Information Bureau, in October 2022, the Prime Minister of India established the C-295 transport aircraft manufacturing facility in Vadodara, Gujarat, the country's first in the private sector.
- Favourable investment in warehouse facilities drives the electric tug market expansion.
Electric tugs play an essential role in warehouse facilities as they help to transport goods and materials within warehouses. They can move heavy pallets, carts, and trailers, reducing the need for manual labour and improving overall productivity. The favourable investments in warehouses accelerated the growth of electric tugs. Therefore, in June 2023, Pladis Global announced a £2 million investment in its Carlisle manufacturing facility, as well as the opening of a new warehouse. This growth necessitated the construction of a new narrow aisle warehouse with 1600 pallet spaces.
- New automotive manufacturing unit establishment bolsters the electric tugs market growth.
Automotive manufacturing plants demand advanced electric tugs as they are required for transporting heavy loads, components, and parts throughout the manufacturing facility. Materials such as chassis, engines, car bodies, and other components can be easily transported between different production areas with the help of electric tugs. This shows a significant demand for electric tugs in automotive manufacturing. Therefore, the establishment of new manufacturing units of automotive accelerated the growth of the electric tug market. For instance, in September 2023, Lucid Group, Inc. officially launched Saudi Arabia’s first car manufacturing facility, which produces Lucid’s groundbreaking electric vehicles for the Saudi market as well as exports to other markets. Additionally, in June 2022, The BMW Group broadened its manufacturing footprint in China with the official opening of Plant Lydia in Shenyang, China.
North America is expected to grow significantly.
North America is projected to account for a significant share of the electric tugs market due to various efforts performed in the establishment of new manufacturing units and favorable investments in warehouses. For instance, in September 2022, Continental launched an Initial automotive manufacturing plant in Texas, United States, a $110 million (€100 million) investment in the future of mobility. Additionally, in December 2022, The Ontario government celebrated the opening of General Motors of Canada (GM Canada)’s first full-scale electric vehicle (EV) manufacturing plant in Canada. In June 2023, GEODIS, a global transportation and logistics company, opened a new multi-user warehouse and distribution center in Mexico.
Market Restraints
- The high initial cost will restrain the growth of the electric tugs market.
Electric tugs are more costly than traditional diesel-powered tugs. The initial investment required to buy and install electric tug fleets can be a significant barrier that limits the adoption of electric tugs in numerous sectors which affects the market growth.
Market Developments
- October 2023- MasterMover, the global leader in electric tug solutions announced the release of its new remote-controlled PS7000+ model. It has a weight capacity of 70,000kg and is equipped with patented MultiLink technology. The PS7000+ is the ideal solution for heavy industrial manufacturing industries, allowing a single operator to safely move loads of up to 70,000kg with a single machine.
- August 2022- Master Mover introduces the new PS800+ electric tug. The PS800+ is intended to provide customers with a remote-controlled solution for moving loads weighing up to 8,000kg. It features high-performance, maintenance-free interchangeable batteries allowing for 24x7 machine operation.
Company Products
- V-move S Electric Tow Tug- The V-move S electric tow tug offered by Verhagen Leiden is extremely simple to use, and its special coupling makes it simple to move containers, roll containers, and other carts on wheels. The V-move S is powered by two powerful electric motors and can move up to 1.300 kilograms. Its interchangeable battery pack provides continuous driving time and can thus be used efficiently. It consists of 2 sprung support wheels for more comfort and safety and electromagnetic parking brakes.
- Smart Mover SM200+ - The Smart Mover SM200+ is a small but powerful electric tug provided by Master Mover that eliminates the need for manual handling. It can move wheeled loads weighing up to 2,000kg while providing effortless pushing, pulling, and steering. The maximum distance per charge for a standard battery is 4.2 km and the maximum slope is 10 degrees with a standard IP rating of IP44.
- Airport Trolley Tug ATT5- Maini Materials Movement Pvt. Ltd. offers Airport Trolley Tug ATT5 which is widely used in airport luggage transportation. Its compact design allows for efficiency in airport operations and provides enhanced safety with features such as a dead man’s pedal. It is also ideal for large campus surveillance, warehouse pickups, and pulling applications.
- Extra-Duty PowerPusher- Nu-Star's Extra-Duty PowerPusher allows a single person to move up to 25,000 pounds with complete control. These tugs are a scalable, flexible solution built to meet demanding load requirements, with a wide range of standard or custom attachments. It has a 400-watt 24-volt DC motor that provides heavy-duty up to 25,000-pound push and pull capacity.
Segmentation
- By Battery Type
- AGM Battery
- Lithium Battery
- By Capacity
- Up to 1000Kg
- 1000Kg – 5000Kg
- 5000Kg – 10,000Kg
- Above 10,000Kg
- By Application
- Warehouses
- Manufacturing Units
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- UK
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Indonesia
- Others
- North America
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porter’s Five Force Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
4.6. Forward Proxy
5. ELECTRIC TUGS MARKET BY BATTERY TYPE
5.1. Introduction
5.2. AGM Battery
5.3. Lithium Battery
6. ELECTRIC TUGS MARKET BY CAPACITY
6.1. Introduction
6.2. Up to 1000Kg
6.3. 1000Kg – 5000Kg
6.4. 5000Kg – 10,000Kg
6.5. Above 10,000Kg
7. ELECTRIC TUGS MARKET BY APPLICATION
7.1. Introduction
7.2. Warehouses
7.3. Manufacturing Units
7.4. Others
8. ELECTRIC TUGS MARKET BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. USA
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. Germany
8.4.2. UK
8.4.3. France
8.4.4. Spain
8.4.5. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. Others
8.6. Asia Pacific
8.6.1. China
8.6.2. Japan
8.6.3. South Korea
8.6.4. India
8.6.5. Indonesia
8.6.6. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
10. COMPANY PROFILES
10.1. Verhagen Leiden
10.2. MasterMover
10.3. Maini Materials Movement Pvt. Ltd.
10.4. Nu-Star, Inc.
10.5. Movexx
10.6. Tractive Power Ltd
Verhagen Leiden
MasterMover
Maini Materials Movement Pvt. Ltd.
Nu-Star, Inc.
Movexx
Tractive Power Ltd
Related Reports
Report Name | Published Month | Get Sample PDF |
---|---|---|
Automated Truck Loading Systems Market Size: Report, 2023-2028 | Mar 2023 | |
Marine Powerboat Battery Market Size & Share: Report, 2021 – 2026 | Aug 2021 | |
Brushless DC Motor Market Size: Industry Report, 2024-2029 | Jul 2024 | |
Forklift Truck Market Size & Share: Industry Report, 2023-2028 | Feb 2023 | |
EV Battery Cooling Market Size, Share & Trends: Report, 2024-2029 | Sep 2024 |