Rising Demand for Efficiency and Automation Drives the Global Autonomous Forklift Market to Reach USD 4.5 Billion in 2022

As per the study initiated by Evolve Business Intelligence, the global Autonomous Forklift market size accounted for USD 4.5 Billion in 2022, growing at a CAGR of 12.4% from 2023 to 2033. Autonomous forklifts are self-driving vehicles used for lifting, moving, and storing heavy goods in warehouses, distribution centers, and manufacturing facilities. They are equipped with sensors, cameras, and software that enable them to navigate and operate autonomously without human intervention. The market is driven by the increasing demand for automation in the material handling industry, the need for efficient and cost-effective warehouse operations, and the growing adoption of Industry 4.0 technologies. Additionally, the COVID-19 pandemic has further accelerated the adoption of autonomous forklifts, as they can reduce the need for human labor and help maintain social distancing protocols in warehouse and distribution centers.
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Key Highlights:
• The global Autonomous Forklift Market size was valued at USD 4.5 billion in 2022 growing at a CAGR of 12.4% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has published a new market research report on Global Autonomous Forklift Market focusing in various aspects including market size and forecast, market dynamics, competitors market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which includes Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted in order to prosper through this industry over short and long terms. The quantitative analysis includes our authentic findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.
In terms of COVID 19 impact, the Autonomous Forklift market report also includes the following data points:
• COVID19 Impact on Autonomous Forklift market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Autonomous Forklift market
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Key Players
Some of the major Autonomous Forklift players holding high market share include Agilox Services GmbH, Balyo, Hyster-Yale Materials Handling, and Hyundai Construction Equipment Co., Ltd. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report 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
• Toyota Industries Corporation
Segmental Analysis
Market Segment By Tonnage with focus on market share, consumption trend, and growth rate of Autonomous Forklift Market:
o Below 5 Tons
o 5 to 10 Tons
o Above 10 Tons
Market Segment By Navigation Technology with focus on market share, consumption trend, and growth rate of Autonomous Forklift Market:
o Laser
o Vision
o Optical Tape
o Magnetic
o Inductive Guidance
Market Segment By end-user with a focus on market share, consumption trend, and growth rate of the Autonomous Forklift Market:
o Retail and Wholesale
o Logistics
o Automotive
o Food Industry
o Others
Parameters Details
Market Size (2022) $ 4.5 Billion
CAGR (2023 to 2033) 12.4%
Market Segmentation Tonnage, Navigation Technology, End User
Country Covered US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America
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Global Autonomous Forklift Geographic Coverage:
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Nordic Countries
o Benelux
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Australia
o Rest of Asia Pacific
• Middle East and Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
Reasons to Buy this Report:
• Detail analysis of the impact of market drivers, restraints, and opportunities
• Competitive Intelligence provides an understanding of the ecosystem
• Details analysis of the Total Addressable Market (TAM) of your products
• Investment Pockets and New Business Opportunities
• Demand-supply gap analysis
• Strategy Planning

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