Press release
Global Autonomous Forklift Market Valued at $3.5 Billion in 2021, Forecast to Reach $10.5 Billion by 2031
The global autonomous forklift market size was valued at USD 3.5 billion in 2021, and is projected to reach USD 10.5 billion by 2031, growing at a CAGR of 11.9% from 2022 to 2031.
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Report Coverage & Details:
Covid-19 Scenario :
The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global autonomous forklift market, owing to implementation of global lockdown which resulted to temporary closure of beverage factories.
According to the International Labor Organization (ILO), in March 2020, it was estimated that factory closures in Europe and North America caused around 2.5 million vehicles to be removed from production schedules, at a cost of $77.7 billion in lost revenue for automotive and related services manufacturing companies.
For instance, initially in the pandemic, Amazon was forced to limit the amount of inventory suppliers that were sent to its warehouses. E-commerce order volumes increased by 50% compared to 2019, and shipping times for products such as furniture became doubled in March 2020, hitting distribution centers hard. This had created demand for autonomous forklift market.
The research provides detailed segmentation of the global autonomous forklift market based on tonnage, navigation technology, end-use, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on navigation technology, the laser segment held the highest share in 2021, accounting for nearly two-fifths of the global autonomous forklift market, and is expected to continue its leadership status during the forecast period. However, the vision segment is expected to register the highest CAGR of 14.6% from 2022 to 2031.
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Based on end use, the retail and wholesale segment accounted for the highest share in 2021, contributing to around two-fifths of the global autonomous forklift market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the food industry segment is expected to manifest the highest CAGR of 14.7% from 2022 to 2031.
Based on application, the indoor segment accounted for the highest share in 2021, holding more than two-thirds of the global autonomous forklift market, and is expected to continue its leadership status during the forecast period. However, the outdoor segment is estimated to grow at the highest CAGR of 12.8% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing to more than two-fifths of the global autonomous forklift market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the LAMEA region is expected to manifest the fastest CAGR of 15.0% during the forecast period. The research also analyzes regions including North America and Europe.
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.
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The report provides a detailed analysis of these key players of the global autonomous forklift market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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