The Worldwide Autonomous Forklift Industry is Expected to Reach $6.4 Billion by 2027

DUBLIN, April 21, 2022 /PRNewswire/ -- The "Autonomous Forklift Market by Tonnage Capacity (<_-10_ _="_">10), Navigation Technology (Laser, Vision, Optical Tape, Magnetic, Inductive Guidance), Sales Channel, Application, End-Use Industry, Type, Propulsion and Region - Global Forecast to 2027"</_-10_> report has been added to ResearchAndMarkets.com's offering.

The autonomous forklift market size is projected to reach USD 6.4 billion by 2027 from an estimated USD 3.1 billion in 2021, at a CAGR of 12.7% from 2021 to 2027.

With the growth of end-use industry and adaptation of automated material handling systems to improve material handling and logistics Asia-pacific is forecasted to lead the autonomous forklift market.

Autonomous forklift assists in optimum utilization of space and reducing labor costs. The real estate prices in several developed countries are rising due to the increasing gap between demand and supply. The availability of real estate for warehouses in Europe is almost saturated, and the demand is still rising. Other developed countries in Asia Pacific and North America need to optimize space utilization. This has become imperative considering the ever-growing population and demand for consumer goods. Autonomous forklift is likely to be used to meet this increased warehousing requirement for efficient operations.

Growth of E-commerce, Logistics and Warehousing Sector to trigger the adoption for automated material handling equipment such as autonomous forklifts

Low cost of capital, fast return on investment (ROI), and a high degree of possibility of customization encourage manufacturing companies to invest more in factory automation and automated warehouse. Factors such as the enforcement of social distancing norms, lockdowns, and other measures have led consumers to opt for online shopping. This has led to the growth of business-to-consumer (B2C) sales and business-to-business (B2B) e-commerce. However, the growth in the e-commerce industry has resulted in tight deadlines and the need to procure and deliver a huge number of goods without errors. Thus, e-commerce companies have increased the adoption of automation in their facilities. The advantages of autonomous forklifts over conventional forklifts such as reduced production time, fewer human errors, increased safety, high-volume production, and increased accuracy and repeatability have spurred the adoption in e-commerce and other logistics hubs.

The warehouse automation allows for increased throughput, better resource utilization, reduced labor, lesser operational costs, decreased handling and storage costs, lesser human error, increased productivity, and efficiency. Hence, the warehouse automation market is growing.

The Indoor Type segment of autonomous forklift is expected to hold a dominant share throughout the forecast period as they are fast improving their ability to operate without human interventions

The indoor segment is expected to hold a significant market share during the forecast period due to its application in the fast-moving goods industry. Indoor autonomous forklifts are swift and precise in order picking and storage, allowing their increased utilization in the warehousing operations. They have enabled swift response to customization of orders, which was time-consuming with traditional forklifts. An autonomous forklift eliminates the idle time and unnecessary movements through pre-calculation with the help of a warehouse management system. Thus, the user can improve the capacity and efficiency of their warehouse with the same floor space.

Europe is anticipated to be the second largest market for autonomous forklifts in 2021

According to the publisher's statistics, Europe is projected to hold the second largest share of the autonomous forklift market by 2027 because of the increased inclination towards the automation technology. Europe has been the most developed market in terms of implementation of automation in warehousing and material handling processes. High labor costs, shortage of space, and stringent worker safety rules are some of the primary factors leading to the high penetration of automation technologies in the European material handling ecosystem.

European regulations related to AGVs include EN 1525 and EN 1526, which lay down safety standards for AGVs in the region. These regulations are expected to support the growth of AGVs and related AMH equipment in this region. The growing electrification infrastructures along with large logistics industry in Germany and France support the development of the electric propulsion autonomous forklift segment. Furthermore, global autonomous forklift OEMs are relocating their operations in the region. The technology transfer has led to growth in the number of local players which is expected to reduce the cost of autonomous forklift adaptation in the region. Hence the region is expected to increase its share during the forecast period.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Pre- & Post-COVID-19 Scenarios
3.2 Report Summary

4 Premium Insights

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Automated Warehouses and Automated Material Handling Equipment
5.2.1.2 Growth in E-Commerce, Logistics, and Warehousing Sectors
5.2.2 Restraints
5.2.2.1 High Integration and Switching Costs Due to Ai and Wms
5.2.3 Opportunities
5.2.3.1 Usage of 5G Connectivity in Future for Warehouse Operations
5.2.3.2 Development of IoT Integrated Autonomous Forklifts
5.2.4 Challenges
5.2.4.1 Technical Challenges Related to Sensing Elements
5.2.4.2 Susceptibility of Autonomous Forklifts and Automated Warehouses to Cyberattacks
5.3 Autonomous Forklift Market Scenario
5.4 Porter's Five Forces Analysis
5.5 Trends/Disruptions Impacting Autonomous Forklift Market
5.6 Autonomous Forklift Market Ecosystem
5.7 Supply Chain Analysis
5.8 Patent Analysis
5.9 Average Selling Price Analysis
5.9.1 Average Regional Price Trend: Autonomous Forklifts, 2021
5.9.2 Average Regional Price Trend: Autonomous Forklifts, by Tonnage Capacity, 2021
5.10 Case Study
5.10.1 Use Case 1: Haval Production Plant
5.10.2 Use Case 2: Panasonic Energy Belgium Nv
5.10.3 Use Case 3: Implementing Dematic's Autonomous Forklift to Reduce Delivery Time at L'Oreal
5.10.4 Use Case 4: Aer Manufacturing
5.11 Key Conferences & Events in 2022-2023
5.12 Regulatory Framework
5.13 Technology Analysis

6 Autonomous Forklift Market, by Tonnage Capacity
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions
6.1.3 Industry Insights
6.2 Below 5 Tons
6.2.1 Easy Operational Flexibility in Compact Warehouses to Drive Demand
6.3 5-10 Tons
6.3.1 Growing Electric Infrastructure to Drive Demand
6.4 Above 10 Tons
6.4.1 Usage in Heavy-Duty Operations to Drive Demand

7 Autonomous Forklift Market, by Application
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 Manufacturing
7.2.1 Benefits Like Efficiency of Operations to Drive Demand
7.3 Warehousing
7.3.1 Increasing Product Differentiation and Reduced Pallet Size to Drive Demand
7.4 Material Handling
7.4.1 Increase in Data-Driven Automated Technology to Drive Demand
7.5 Logistics and Freight
7.5.1 Need for Reduction in Delivery Time and Rising Concerns Over Damages and Loss of Goods to Drive Demand
7.6 Other Applications

8 Autonomous Forklift Market, by Navigation Technology
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Laser Guidance
8.2.1 Speed, Accuracy, Growing Product Differentiation, and Complexities of Agv Tracks to Drive Demand
8.3 Magnetic Guidance
8.3.1 Ease of Installation and Low Cost of Operation to Drive Demand
8.4 Inductive Guidance
8.4.1 Growing Applications in Outdoor Environments to Drive Demand
8.5 Optical Tape Guidance
8.5.1 Growing Applications in Non-Industrial Settings to Drive Demand
8.6 Vision Guidance
8.6.1 Real-Time Path Optimization and Obstacle Detection to Drive Demand
8.7 Other Navigation Technologies

9 Autonomous Forklift Market, by End Use Industry
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 Third-Party Logistics (3Pl)
9.2.1 Need for Safe and Speedy Storage to Drive Demand
9.3 Food & Beverages
9.3.1 Need to Reduce Operational Costs to Drive Demand
9.4 Automotive
9.4.1 Need for Efficient Inventory Management to Drive Demand
9.5 Paper & Pulp
9.5.1 Need for Optimization of Bottlenecks to Drive Demand
9.6 Metals & Heavy Machinery
9.6.1 Need for Efficient Operations to Drive Demand
9.7 E-Commerce
9.7.1 Need to Optimize Warehousing Operations to Drive Demand
9.8 Aviation
9.8.1 Increasing Manufacturing and Assembly Operations to Drive Demand
9.9 Semiconductors & Electronics
9.9.1 Need for Cleanroom Warehousing Process to Drive Demand
9.10 Chemical
9.10.1 Need to Ensure Workplace Safety of Employees and Manage Workflow Effectively to Drive Demand
9.11 Healthcare
9.11.1 Need for Automated Warehousing Operations to Drive Demand
9.12 Others

10 Autonomous Forklift Market, by Propulsion
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Industry Insights
10.2 Electric
10.2.1 Focus on Zero-Emission Working Environment to Drive Demand
10.3 Internal Combustion Engine (Ice)
10.3.1 Increase in Heavy-Duty Operations to Drive Demand
10.4 Alternate Fuels
10.4.1 Growing Heavy Industry Operations and Changing Prices of Conventional Fuels to Drive Demand

11 Autonomous Forklift Market, by Sales Channel
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
11.2 In-House Purchase
11.2.1 Long Duration Usage to Drive Demand
11.3 Leasing
11.3.1 Need for Budgeting Stability to Drive Demand

12 Autonomous Forklift Market, by Type
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions
12.1.3 Industry Insights
12.2 Indoor
12.2.1 Growth of Global E-Commerce Industry to Drive Demand
12.3 Outdoor
12.3.1 Growing Automation in Logistics and Freight Sector to Drive Demand

13 Autonomous Forklift Market, by Region

14 Competitive Landscape
14.1 Overview
14.2 Autonomous Forklift Market Share Analysis, 2020
14.3 Revenue Analysis of Top Listed/Public Players
14.4 Competitive Evaluation Quadrant
14.4.1 Terminology
14.4.2 Star
14.4.3 Emerging Leaders
14.4.4 Pervasive
14.4.5 Participants
14.5 Autonomous Forklift Market: Company Footprint
14.6 Competitive Scenario
14.6.1 Product Launches
14.6.2 Deals
14.6.3 Expansions, 2018-2021
14.7 Key Player Strategies/Right to Win, 2018-2021

15 Company Profiles
15.1 Autonomous Forklift Market - Key Players
15.1.1 Toyota Industries Corporation
15.1.2 Kion Group Ag
15.1.3 Mitsubishi Logisnext Co. Ltd
15.1.4 Jungheinrich Ag
15.1.5 Agilox Services Gmbh
15.1.6 Hyster-Yale Materials Handling
15.1.7 Swisslog Ag
15.1.8 Oceaneering International, Inc
15.1.9 Hyundai Construction Equipment Co. Ltd.
15.1.10 Balyo Sa
15.2 Autonomous Forklift Market - Additional Players
15.2.1 Anhui Heli Co. Ltd
15.2.2 Crown Equipment Corporation
15.2.3 Agve Ab
15.2.4 Movigo Robotics Bv
15.2.5 Otto Motors
15.2.6 Vecna Robotics
15.2.7 Seegrid Corporation
15.2.8 Elettric80 S.P.A
15.2.9 Multiway Robotics (Shenzhen) Company
15.2.10 Scott Automation
15.2.11 Shenzhen Wellwit Robotics Co. Ltd

16 Recommendations

17 Appendix

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