PUBLISHER: Orion Market Research Pvt Ltd | PRODUCT CODE: 1159330
PUBLISHER: Orion Market Research Pvt Ltd | PRODUCT CODE: 1159330
Global Autonomous Forklift Market Size, Share & Trends Analysis Report by Tonnage Capacity (Below 5 Tons, 5-10 Tons, and Above 10 Tons), by Application (Manufacturing, Warehousing, Material Handling, Logistics, and Freight and Others), by Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Optical Tape Guidance, and Others), by Industry (Food & Beverages, Automotive, Paper & Pulp, Metals & Heavy Machinery, E-commerce, Aviation, Semiconductors & Electronics, Healthcare, and Others), by Propulsion (Electric, ICE and Alternate Fuels), by Type (Indoor and Outdoor) Forecast Period (2022-2028)
The global autonomous forklift market is anticipated to grow at a substantial CAGR 7.9% during the forecast period. The growth of the global autonomous forklift market during the forecast period can be attributed to the increasing trade and logistics activities across the globe. Additionally, the growing number of warehouses and distribution centers that requires time and space management is increasing the demand for forklifts which in turn is driving the growth of the market.
The global autonomous forklift market is segmented based on tonnage capacity, application, navigation technology, industry, propulsion and type. Based on the tonnage capacity, the market is sub-segmented into below 5 tons, 5-10 tons and above 10 tons. Based on the application, the market is sub-segmented into manufacturing, warehousing, material handling, logistics and freight and others. Based on the navigation technology, the market is sub-segmented into laser guidance, magnetic guidance, vision guidance, inductive guidance, optical tape guidance and others. Based on the industry, the market is sub-segmented into food and beverages automotive, paper and pulp, metals and heavy machinery, e-commerce, aviation, semiconductors and electronics, healthcare and others. Based on the propulsion, the market is sub-segmented into electric, ICE and alternate fuels. Based on the type, the market is sub-segmented into indoor and outdoor. Among the propulsion segment, the electric sub-segment is expected to cater considerable groet over te forecast period, owing to the rise in adoption and demand of electric vehicles across the globe.
Geographically, the autonomous forklift market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific holds the major share in the market due to the growing demand for indoor forklifts in the region. Furthermore, North America is the second-highest region to hold the market share due to the presence of key players as well as the increasing use of autonomous forklifts in several industries in the region.
The major companies serving the global autonomous forklift market include Hyster-Yale Materials Handling, Jungheinrich AG, Kion Group AG, Mitsubishi Logisnext Co Ltd., and Toyota Industries Corp., among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, and geographical expansion, to stay competitive in the market. For instance, in June 2021, AGILOX Services Gmbh announced that it has entered into an investment agreement with Carlyle Group to help AGILOX improve its geographic reach and product development.
Research Methodology
The market study of the global autonomous forklift market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: