Autonomous Forklift Market to Perceive Substantial Growth During 2021 to 2031 by Agilox Services GmbH, Balyo, Hyster-Yale Materials Handling, Hyundai Construction Equipment Co., Ltd., Jungheinrich AG, KION Group AG

According to a new report published by Allied Market Research, titled, "Autonomous Forklift Market," The autonomous forklift market was valued at $3.5 billion in 2021, and is estimated to reach $10.5 billion by 2031, growing at a CAGR of 11.9% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐚𝐭:- https://www.alliedmarketresearch.com/request-sample/9972

Autonomous forklifts are specially designed vehicles used for logistic movement across industries where huge logistical goods are stored and regular operations across them are being carried out across them. Autonomous forklifts are driverless vehicles or a form of automated guided vehicles with the feature that they can navigate in a given space provided a specific route or a magnetic strip is marked on the route of autonomous forklift. Moreover, with the advancement in technology, numerous developments have been carried out by the key manufacturers towards the development of advanced forklifts which has created a wider scope for the growth of the market across the globe.

In addition, developments have been carried out by the key manufacturers such as Agilox Services GmbH, Balyo, Hyster-Yale Materials Handling, Hyundai Construction Equipment Co., Ltd. And others towards offering superior quality autonomous forklifts which has attracted numerous logistic service providers to include autonomous forklifts in operations thereby creating a wider scope for the growth of the market across the globe.

For instance, in January, 2023, BALYO received investment from Danone Group for the manufacturing of "REACHY" robot forklifts which can be used across different industries along with the increased indoor & outdoor applications. Similarly, in September, 2021, Hyster-yale materials handling, inc., with Association for Advancing Automation (A3) developed advance automation technology. As a member of A3, Hyster continues to innovate robotic lift trucks, which include a robotic tow tractor, end rider, counterbalanced stacker, and reach truck.

Similarly, with the rising interest in automation technologies, Europe is expected to occupy one of the major shares of the autonomous forklift market. Europe has been one of the most developed markets in terms of warehouse and material handling automation installation. High labor costs, a lack of space, and strict worker safety regulations are just a few of the key issues driving automation technology adoption in the European material handling ecosystem. Moreover, the growth of the regional market is primarily driven by increase in demand for material handling equipment by incumbents of the manufacturing industry.

𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁? 𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 - https://www.alliedmarketresearch.com/purchase-enquiry/9972

In addition, growth in adoption of Industry 4.0 technologies is another factor, which propels growth of the autonomous forklift market in Europe. Moreover, the region is involved in high industrial activity, especially in the automotive sector, which increases demand for autonomous forklift in the region. For instance, in January 2022, VisionNav Robotics announced that it is bringing its range of fully automated, vision-guided forklift trucks and intelligent operating systems to the European market.

In addition, the market is supplemented by numerous factors such as surging demand for automation solution in various industries, reduction of labor cost in organizations, and increase in safety, accuracy & productivity which has creates a wider scope for the growth of the market across the globe. However, lack in flexibility of autonomous forklift and high initial investment cost hamper the growth of the market. On the contrary, growth in e-commerce industry and incorporation of industry 4.0. to foster growth are the major factors that are expected to provide lucrative opportunities for the market growth during the forecast period.

Moreover, the market is studied across numerous segments such as tonnage, navigation technology, end-use, application and region. By tonnage, the market is classified into below 5 Tons, 5-10 Tons, and above 10 Tons. On the basis of navigation technology, it is segregated into laser, vision, optical tape, magnetic and inductive guidance. Depending on end-use, it is classified into retail & wholesale, logistics, automotive, food industry and others. By application, the market is classified into indoor and outdoor. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the autonomous forklift market are Agilox Services GmbH, Balyo, Hyster-Yale Materials Handling, Hyundai Construction Equipment Co., Ltd., Jungheinrich AG, KION Group AG, Mitsubishi Logisnext Co., Ltd., Oceaengineering International, Inc., Swisslog AG, and Toyota Industries Corporation.

𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 (345 𝗣𝗮𝗴𝗲𝘀 𝗣𝗗𝗙 𝘄𝗶𝘁𝗵 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀, 𝗖𝗵𝗮𝗿𝘁𝘀, 𝗧𝗮𝗯𝗹𝗲𝘀, 𝗙𝗶𝗴𝘂𝗿𝗲𝘀) 𝗮𝘁: https://www.alliedmarketresearch.com/autonomous-forklift-market/purchase-options

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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