PUBLISHER: The Business Research Company | PRODUCT CODE: 1124989
PUBLISHER: The Business Research Company | PRODUCT CODE: 1124989
“Autonomous Forklift Global Market Report 2022 ” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global autonomous forklift market.
This report focuses on autonomous forklift market which is experiencing strong growth. The report gives a guide to the autonomous forklift market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the autonomous forklift? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Autonomous Forklift market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider autonomous forklift market, and compares it with other markets.
Major players in the autonomous forklift market are: Hangcha Group Co, Hyster-Yale Material Handling Inc, Jungheinrich AG, KAUP GmbH & Co, Linde Material Handling, Toyota Industries Corporation, Komatsu Ltd, Crown Equipment Corporation, Doosan Corporation, Mitsubishi Logisnext Co Ltd, CLARK, Combilift Material Handling Solutions, OTTO Motors, Balyo Robotic, Agilox Services GMBH, STILL GmbH, ONECRANES, Manitou Group, Lonking Machinery Co. Ltd., Hyundai Heavy Industries Group, Anhui Heli Co, and Anhui Yufeng Equipment Co.
The global autonomous forklift market is expected to grow from $5.22 billion in 2021 to $5.82 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The autonomous forklift market is expected to grow to $8.26 billion in 2026 at a CAGR of 9.1%.
The autonomous forklift market consists of sales of autonomous forklift products by entities (organizations, sole traders, and partnerships) that are used for automating the materials handling process in warehouses. Autonomous forklifts are driverless forklifts that utilize automated guided vehicles and systems technology. These forklifts can be used for various operations such as lifting, transporting, putting away, or carrying loads in warehouses and other locations. In addition, this equipment reduces operating costs and improves work efficiency in warehouses.
The main types of autonomous forklift are indoor and outdoor. The term indoor autonomous forklift refers to autonomous forklifts that are used indoors for pallet movement in warehouses, distribution centers, and other indoor material storage places. Indoor forklifts have a smaller turning radius, which makes them suitable for movement even inside smaller facilities. The different components include hardware, software, and services and involve several navigation technologies such as laser guidance, magnetic guidance, vision guidance, inductive guidance, optical tape guidance, and others. It is used in manufacturing, warehousing, material handling, logistics & freight, and other applications.
Asia Pacific was the largest region in the autonomous forklift market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the autonomous forklift market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The autonomous forklift market research report is one of a series of new reports from The Business Research Company that provides autonomous forklift market statistics, including global market size, regional shares, competitors with an autonomous forklift market share, detailed autonomous forklift market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous forklift industry. This autonomous forklift market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing demand for automated warehouses is expected to drive the growth of the autonomous forklift market going forward. Automated warehouses refer to the systems used for warehouse operations with automated material handling equipment integrated with artificial intelligence and robotics. Manufacturers are adopting autonomous forklifts for their operations as they offer a significant improvement in productivity, reduce product damage, improve safety and efficiency, and reduce labor costs. These benefits have encouraged industries to embrace the use of autonomous forklifts, thereby increasing their demand. For instance, in December 2021, according to Conveyco, a UK-based material handling equipment supplier, at least 6,20,000 shipments of various warehouse automation technologies were shipped worldwide. Therefore, the increasing demand for automated warehouses is driving the demand for autonomous forklifts.
New product innovation is the key trend gaining popularity in the autonomous forklift market. Major companies operating in the autonomous forklift market are focused on developing technologically advanced products to strengthen their market position. For instance, in March 2022, OTTO Motors, a US-based self-driving technology company, introduced the OTTO Lifter, the smartest autonomous forklift on the market. This new technology is designed to automatically pick up and drop off pallets. In complex contexts, the OTTO Lifter can make real-time decisions and can find a pallet if it is tilted, modify behavior in extremely dynamic surroundings, and determine the optimal route on its own, unlike other autonomous forklifts on the market. The OTTO Lifter smoothly navigates traffic and obstacles with dynamic path planning, lane tending, intelligent pallet detection, and stretch-wrap piercing to deliver products to the right place, at the right time.
In October 2019, Teradyne Inc., a US-based test equipment company, acquired AutoGuide Mobile Robots for a deal amount of $165 million. This acquisition would enable Teradyne to offer customers a broader range of high-performance material handling and transportation solutions. AutoGuide Mobile Robots is a US-based manufacturer of heavy-duty industrial autonomous mobile robots and automated guided vehicles for assembly, including autonomous forklifts.
The countries covered in the autonomous forklift market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.