Market Size of Autonomous Forklift Industry : $3.5 Billion in 2021, Projected to Reach $10.5 Billion by 2031, CAGR of 11.9% (2022-2031)

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.

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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/9972

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.

In addition, countries across the globe has created an infrastructure towards the adoption of automation in vehicles and other relevant sectors which has also created an increased traction of AGVs across the globe. For instance, The U.S. started integrating automation in warehouses for the retail sector. In addition, radical growth in the e-commerce segment of the retail sector in U.S. has increased the demand for autonomous forklift in warehouses. Innovative forklift applications involve unmanned operation are being increasingly explored for high-risk work environments, such as those in the military across the U.S region. Moreover, growth in collaborations and mergers between market players in the country to enhance technologies is expected to fuel growth of the autonomous forklift market. For instance, Nestle, DHL and Walmart are among the high-profile businesses to have already adopted the VisionNav driverless truck system, while many small and medium sized forklift users are also benefiting from the solution.

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. 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.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/autonomous-forklift-market/purchase-options

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.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/9972

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

By tonnage, the below 5 tons segment is projected to dominate the global market in terms of growth rate.

By navigation technology, the vision segment is projected to dominate the global autonomous forklift market in terms of growth rate.

By end use, the food industry segment is projected to dominate the global market in terms of growth rate.

By application, the outdoor segment is projected to dominate the global market in terms of growth rate.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Autonomous Weapons Market : https://www.alliedmarketresearch.com/autonomous-weapons-market-A13132

Semi-Autonomous & Autonomous Bus Market : https://www.alliedmarketresearch.com/semi-autonomous-and-autonomous-bus-market-A07164

Autonomous Vehicle Market : https://www.alliedmarketresearch.com/autonomous-vehicle-market

North America Forklift Truck Market :
https://www.alliedmarketresearch.com/north-america-forklift-truck-market-A30559

Forklift Truck Market :
https://www.alliedmarketresearch.com/forklift-truck-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

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.

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This release was published on openPR.