PUBLISHER: Polaris Market Research | PRODUCT CODE: 1762317
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1762317
The global autonomous forklifts market size is expected to reach USD 15.29 billion by 2034, according to a new study by Polaris Market Research. The report "Autonomous Forklift Market Size, Share, Trends & Industry Analysis Report: By Type, By Navigation Technology, By Tonnage Capacity (Below 5 Tons, 5-10 Tons, and Above 10 Tons), By Application, By Industry, and By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Autonomous forklifts are self-driving industrial vehicles designed to handle material handling tasks without human intervention. Equipped with advanced technologies like LiDAR, cameras, sensors, and artificial intelligence (AI), these forklifts navigate warehouses, factories, and logistics centers autonomously, optimizing efficiency and safety. They operate using pre-programmed routes or real-time mapping, adapting to dynamic environments by detecting obstacles, pallets, and workers. Some models integrate with warehouse management systems (WMS) for seamless inventory tracking and task automation.
The primary usage of autonomous forklifts lies in streamlining logistics operations. They excel in repetitive tasks such as loading, unloading, transporting, and stacking pallets, reducing reliance on manual labor and minimizing human error. In large warehouses, they enhance productivity by operating 24/7, ensuring faster order fulfillment and reduced downtime. Additionally, they improve workplace safety by eliminating accidents caused by human fatigue or mishandling. Industries like e-commerce, manufacturing, and retail benefit from their ability to handle heavy loads in narrow aisles or high-rack storage systems.
By tonnage capacity, the below 5 tons segment accounted for a major market share in 2024. This is mainly attributed to the widespread use of lower-level material handling equipment in e-commerce fulfillment centers, retail warehouses, and general distribution centers.
By application, the warehousing segment held the largest market share in 2024 due to the growing importance of automation in distribution and storage centers, e-commerce fulfillment hubs, and storage facilities.
By industry, the e-commerce industry dominated the revenue market share in 2024. E-commerce businesses handle immense volumes of diverse products, which require rapid order fulfillment, precise forecasting, and a continuous flow of materials within large distribution centers.
Asia Pacific autonomous forklift market accounted for 42.30% market share in 2024 due to strong manufacturing sectors in countries like China and Japan, along with the immense growth of e-commerce in the region.
Some major companies in the market include Toyota Industries Corporation, KION Group AG, Mitsubishi Logisnext Co., Ltd., Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Hangcha Group Co., Ltd., AGILOX Services GmbH, Oceaneering International, Inc., Swisslog Holding AG, Balyo SA, HD Hyundai Construction Equipment Co., Ltd., and Seegrid Corporation.
Polaris Market Research has segmented the Autonomous Forklift market report based on type, navigation technology, tonnage capacity, application, industry, and region:
By Type Capacity Outlook (Revenue - USD Billion, 2020-2034)
Pallet Jacks
Counterbalance Forklifts
Reach Trucks
Order Pickers
Stacker Forklifts
By Navigation Technology Capacity Outlook (Revenue - USD Billion, 2020-2034)
LiDAR
Vision-guided
SLAM (Simultaneous Localization and Mapping)
Magnetic-guided
Geofencing-based
Other
By Tonnage Capacity Outlook (Revenue - USD Billion, 2020-2034)
Below 5 Tons
5-10 Tons
Above 10 Tons
By Application Outlook (Revenue - USD Billion, 2020-2034)
Manufacturing
Warehousing
Material handling
Logistics & Freight
Others
By Industry Outlook (Revenue - USD Billion, 2020-2034)
3rd Party Logistic
Food & Beverages
Automotive
Paper & Pulp
Metals & Heavy Machinery
E-commerce
Aviation
Semiconductors & Electronics
Healthcare
Others
By Regional Outlook (Revenue-USD Billion, 2020-2034)
North America
US
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America