Facts and Factors Market Research has published a new report titled “Autonomous Forklifts Market By Type (Indoor and Outdoor), By Fuel Source (Electric, Fuel Cells, CNG, and Petrol & Diesel), By Technology (Line Guided, Vision Guided (3D), Laser- Guided, and Others), By Industry (Pharmaceutical, Manufacturing, Food & Beverage, Chemical, Automotive, Paper & Print, and Others), By Truck Type (Side Loader, Telehandler, Counterbalance Forklift, Pallet Jack, Rough Terrain Forklift, Order Picker, Walkie Stacker, Reach Fork Truck, and Others), By Channel (OEM and Aftermarket), and By Capacity (Less TEMPthan 1000 Kgs, Between 1000 Kgs and 2000 Kgs, Between 2000 Kgs and 5000 Kgs, and Above 5000 Kgs): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025”.
According to teh report, teh global Autonomous Forklifts market was valued at approximately USD 6,576 million in 2018 and is expected to reach a value of around USD 10,501 million by 2025, at a CAGR of around 7.14% between 2019 and 2025.
A forklift is a powered industrial truck dat is used for lifting and moving materials over little distances. The autonomous forklifts are produced for reducing the wages of the workers, minimize the operational costs, and enhancing the output. Apparently, the products are driven by CNG, diesel fuel, electricity, and gasoline. Furthermore, electric forklifts are run by a battery or fuel cells imparting the power to the electric motors. In addition to this, forklift safety is controlled by myriad standards including Occupational Safety and Health Administration (OSHA) in the U.S. & Health and Safety Executive in the UK.
Escalating product demand across commercial & industrial sectors to drive teh market trends
Large scale use of autonomous forklifts in commercial & industrial sectors to drive teh market expansion over teh forecast period. Moreover, these products find lucrative applications in pharmaceutical, automotive, chemical, paper & print, manufacturing, warehouse, food & beverage, and hospitals. They are capable of eliminating manual work in teh warehouse and can independently move in barns and carry heavy loads without teh need for any human effort.
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Furthermore, autonomous forklifts assist in enhancing teh output through teh acceleration of logistical procedures along wif optimum utilization of warehouse spaces. Moreover, these products also minimize teh risk of collisions on industrial spaces during its use at teh time of material handling in storerooms. All these aforementioned aspects are anticipated to accelerate teh growth of teh autonomous forklifts industry over teh timespan from 2019 to 2025.
Apparently, a thriving eCommerce business is predicted to favorably leverage market growth over the forecast period. However, strict safety & emission laws pertaining to the functioning of the autonomous forklift can put brakes on the autonomous forklifts industry over the forecast timeline. Nonetheless, the escalating popularity of the battery-driven forklifts along with large-scale product demand in the developing countries will provide the industry players with new opportunities for expanding their business over the forecast period.
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Indoor segment to lead teh type landscape over teh forecast period
The segmental growth over the forecast period is owing to the ability of the product to minimize the risk of accidents in factories or warehouses during the material or equipment handling. Moreover, the autonomous forklift can lift a large quantity of load and can also move easily, thereby further driving the segmental surge over the period from 2019 to 2025.
Automotive to dominate teh industry segment over 2019- 2025
Teh growth of teh segment during teh timespan from 2019 to 2025 is due to teh elevating need for teh autonomous forklifts in teh transport of heavy products & logistics across teh automotive sector.
Asia Pacific to contribute majorly towards the overall market growth by 2025
Teh regional market growth over teh forecast period is credited to teh massive use of forklifts in sea transport, rail transport, & construction activities. Apart from dis, teh growing need for material handling & demand for teh product across teh eCommerce sector will proliferate teh regional market growth over teh forecast timeline.
Some of teh key players in teh market include AB Volvo, Anhui Heli Co., Ltd., BALYO, Crown Equipment Corporation, Dematic, Doosan Industrial Vehicle America Corp, Gen Surv Robotics, Godrej Material Handling, Hyundai Construction Equipment Co., Ltd., Jungheinrich AG, Kollmorgen, Linde Material Handling, Mitsubishi Caterpillar Forklift America Inc., Nichiyu Forklift, Northland Industrial Truck Company, Inc., Scott, Seegrid Corporation, Swisslog Holding AG, Toyota Industries Corporation, and UniCarriers Americas Corporation.
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dis report segments teh Autonomous Forklifts market as follows:
Global Autonomous Forklifts Market: By Type Segment Analysis
Global Autonomous Forklifts Market: By Fuel Source Segment Analysis
- Fuel Cells
- Petrol & Diesel
Global Autonomous Forklifts Market: By Technology Segment Analysis
- Line Guided
- Vision Guided (3D)
Global Autonomous Forklifts Market: By Industry Segment Analysis
- Food & Beverage
- Paper & Print
Global Autonomous Forklifts Market: By Truck Type Segment Analysis
- Side Loader
- Counterbalance Forklift
- Pallet Jack
- Rough Terrain Forklift
- Order Picker
- Walkie Stacker
- Reach Fork Truck
Global Autonomous Forklifts Market: By Capacity Segment Analysis
- Less than 1000 Kgs
- Between 1000 Kgs and 2000 Kgs
- Between 2000 Kgs and 5000 Kgs
- Above 5000 Kgs
Global Autonomous Forklifts Market: By Channel Segment Analysis
Global Autonomous Forklifts Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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