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.
𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/9972
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.
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.
𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁? 𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 – https://www.alliedmarketresearch.com/purchase-enquiry/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.
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.
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.
The key players operating in the autonomous forklift market are 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, and Toyota Industries Corporation.
𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗮𝘁 https://www.alliedmarketresearch.com/autonomous-forklift-market/purchase-options