Autonomous Forklift Market Forecasts to 2028 – Global Analysis By Navigation Technology (Magnetic Guidance, Laser Guidance, Optical Tape Guidance, Inductive Guidance, Vision Guidance, Simultaneous Localization and Mapping (SLAM) and Other Navigation Techn

Autonomous Forklift Market Forecasts to 2028 – Global Analysis By Navigation Technology (Magnetic Guidance, Laser Guidance, Optical Tape Guidance, Inductive Guidance, Vision Guidance, Simultaneous Localization and Mapping (SLAM) and Other Navigation Technologies), By Tonnage Capacity (5-10 Tons, Below 5 Tons and Above 10 Tons), By Fuel Source, By Type, By Forklift Type, By Sales Channel, By Component, By Application, By End User and By Geography


According to Stratistics MRC, the Global Autonomous Forklift Market is accounted for $3.98 billion in 2022 and is expected to reach $8.70 billion by 2028 growing at a CAGR of 13.9% during the forecast period. Self-propelled forklifts, commonly referred to as autonomous forklifts, are used to lift objects without human assistant. Human labour is no longer required for warehouse operations as a result. With the introduction of autonomous forklifts, defects brought about by human interaction in warehouse operations can be readily managed. The demand for autonomous forklifts is being driven by the requirement to manage big loads in supply chains and material handling. As a result, the proper component is always in the appropriate location at the appropriate time.

According to a survey by Inbound Logistics, labor costs account for about 65% of the warehouse’s overall budget, along with employee attrition and low labor productivity. In addition, the warehouse automation market grew from USD 9.95 billion in 2016 to USD 15.59 billion in 2021 due to rising rents and supply chain disruptions.

Market Dynamics

Driver

Enhancements in material handling process

The efficient operation of the industries depends critically on the material handling process. It facilitates the transfer of goods and materials from one location to another, making it the most important issue for end users. To fulfil demand, this process must be improved through the use of automation and digitization. The sector has evolved as a result of the adoption of digitalization and automation, making the material handling process more efficient and autonomous. A streamlined and effective flow of materials has also been produced through the transformation in the material handling process. This has made it possible for many industries to implement fully or partially automated just in time (JIT) manufacturing processes. Therefore, the expansion of this market is being driven by the rising demand for automation and digitization in the material handling process.

Restraint

High integration and switching costs due to AI and WMS

A autonomous forklift requires a large initial investment. To operate this machinery, skilled labour is required. For businesses, the continuing costs of maintaining and updating numerous subsystems are typically very high. Making such substantial investments is difficult for small and medium-sized organisations. The initial investment for automated material handling equipment, such as self-driving forklifts, is extremely substantial. The one-stop solution cuts down on the time and materials needed to analyse various components. Because there is no need to assess the system's compatibility, the cost of implementation is somewhat reduced. However, just a few autonomous forklifts are presently deployed in a variety of industries due to their poor cost-benefit ratio.

Opportunity

Development of IoT-integrated autonomous forklifts

The emergence of Industrialization 4.0, the Internet of Things (IOT), big data analytics, and cloud computing, which have boosted automation and decreased human interaction in the supply chain, have all been beneficial to material handling operations. The Internet of Things (IoT) is a closed-loop system that blends technology with real-world physical operations and machinery for material handling. To lessen the chance of equipment and facility damage, the health of forklifts must be continuously checked by a variety of sensors and encoders. Using a fleet management interface, an operator may check on the functioning of autonomous forklifts. Due to additional advantages including precise mixed case selecting, trip and lift speed optimisation, and real-time position determination, the adoption of IoT-driven autonomous forklifts is projected to increase in supply chain applications.

Threat

Technical challenges related to sensing elements

Any automated material handling system is a sophisticated system with many sensors, motors, and pieces of software that control how the machinery is programmed. An issue with the system's sensing component might technically interrupt a whole operational process, increasing the company's costs in terms of time and money. Any programming error in the software might potentially cause the automated system to malfunction, which would cause downtime to increase from a few minutes to several days and disrupt the entire production process. System errors consequently have an adverse effect on the process and reduce earnings.

Covid-19 Impact

The COVID-19 pandemic had a negative impact on the growth of the autonomous forklift market because of the implementation of global lockdowns that led to the temporary closure of production facilities. Many manufacturers tried to automate material handling tasks because doing so reduced the potential of COVID-19 exposure. Due to COVID-19, autonomous forklifts become a viable solution for manufacturing enterprises with compact footprints. But compared to 2019, e-commerce order volumes dramatically increased. Forklifts that are autonomous are now more in demand.

The below 5 tons segment is expected to be the largest during the forecast period

The below 5 tons segment is estimated to have a lucrative growth, due to its restricted lifting capability. Manufacturing, warehousing, material handling, logistics, and freight all use autonomous forklifts. Within confined warehouse floor spaces, these little elevators speed up safe and straightforward product moving. These autonomous forklifts enable human resource safety by transporting hazardous materials in constrained warehouse areas.

The electric segment is expected to have the highest CAGR during the forecast period

The electric segment is anticipated to witness the highest CAGR growth during the forecast period. The adoption of machinery with electric propulsion is quickly increasing across all geographies due to features including reduced emissions, lower operating costs, and ease of manoeuvrability. Growing electric infrastructure, particularly in Asia Pacific, Europe, and North American countries, supportive government regulations, and straightforward integration with automotive software and hardware technologies are some of the key factors influencing the growth of electric propulsion autonomous forklifts during the projected period.

Region with largest share

Asia Pacific is projected to hold the largest market share during the forecast period owing to rising adoption in China and India. While it is projected that other countries in the region, such as Japan and South Korea, would raise their share by modernising and changing the current automated material handling machinery. International manufacturers of autonomous forklifts are also relocating their businesses here. The technology transfer has increased the number of local players, which is likely to minimise the cost of adopting autonomous forklifts in the region, therefore it is anticipated that the region will grow its share throughout the forecast period.

Region with highest CAGR

Europe is projected to have the highest CAGR over the forecast period, owing to significant players' growing efforts to improve their promotional methods through increased involvement in seminars and exhibitions. For instance, E&K AUTOMATION declared in December 2019 that it would take part at LogiMAT, which will take place in March 2020. E&K anticipates showcasing its brand-new, internally developed automated industrial series VARIO MOVE at LogiMAT. Numerous automated guided vehicles from various manufacturers will also be present at the event.

Key players in the market

Some of the key players profiled in the Autonomous Forklift Market include AGILOX Services GmbH, Agve AB, Anhui Heli Co., Ltd, BALYO, Crown Equipment Corporation, Hyster-Yale Materials Handling, Inc, Hyundai Construction Equipment Co., Ltd., Jungheinrich AG , KION GROUP AG, Mitsubishi Logisnext Co., Ltd, Oceaneering International, Inc., Scott Automation, Seegrid Corporation, Swisslog Holding AG and Toyota Industries Corporation.

Key Developments

In November 2022, Linde Material Handling Equipment launched the R-Matic autonomous reach truck. Reach trucks are developed as a hybrid solution, allowing the driver to take over at any time and shift the truck into manual mode. Automated industrial trucks travel independently to the charging station for recharging because they are outfitted with fast-charging batteries.

In September 2022, Toyota Industries Corporation developed an autonomous lift truck with the world’s first AI-based feature. It automatically recognizes the position and location of trucks and loads and creates automated travel routes for loading operations. This allows for the automation of loading procedures in addition to the traditional fixed-position loading, even when the truck's halting location and load position is not fixed.

In March 2022, Linde Material Handling Equipment, a subsidiary of KION Group AG, launched autonomous mobile robots called C-Matic. The company is expanding its product line-up in automated solutions with small, quick, and adaptable logistic helpers.

In July 2021, Jungheinrich AG and TRUMPG announced they entered into an intralogistics partnership. AG announced it would provide TRUMPG with driverless vehicles to transport sheet metal parts between different machine tools and storage locations. In contrast, TRUMPF will offer its Fab production-control software, which will assist manufacturers in improving their logistics.

In June 2021, AGILOX Services GmbH and Carlyle Group entered into an investment agreement. With this agreement the AGILOX Services GmbH can improve its geographic reacg and product development.

Navigation Technologies Covered
• Magnetic Guidance
• Laser Guidance
• Optical Tape Guidance
• Inductive Guidance
• Vision Guidance
• Simultaneous Localization and Mapping (SLAM)
• Other Navigation Technologies

Tonnage Capacities Covered
• 5-10 Tons
• Below 5 Tons
• Above 10 Tons

Fuel Sources Covered
• Internal Combustion Engine (ICE)
• Electric
• Alternate Fuels
• Other Fuel Sources

Types Covered
• Outdoor
• Indoor

Forklift Types Covered
• Pallet Stackers
• Pallet Jacks

Sales Channels Covered
• Leasing
• In House Purchase

Components Covered
• Software
• Service
• Hardware

Applications Covered
• Warehousing
• Manufacturing
• Material Handling
• Logistics and Freight
• Other Applications

End Users Covered
• Food and Beverages
• Third Party Logistics (3PL)
• Paper and Pulp
• Automotive
• E Commerce
• Metals and Heavy Machinery
• Aviation
• Chemicals
• Semiconductors and Electronics
• Healthcare
• Construction
• Transportation
• Retail
• Wood Industry
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Autonomous Forklift Market, By Navigation Technology
5.1 Introduction
5.2 Magnetic Guidance
5.3 Laser Guidance
5.4 Optical Tape Guidance
5.5 Inductive Guidance
5.6 Vision Guidance
5.7 Simultaneous Localization and Mapping (SLAM)
5.8 Other Navigation Technologies
6 Global Autonomous Forklift Market, By Tonnage Capacity
6.1 Introduction
6.2 5-10 Tons
6.3 Below 5 Tons
6.4 Above 10 Tons
7 Global Autonomous Forklift Market, By Fuel Source
7.1 Introduction
7.2 Internal Combustion Engine (ICE)
7.3 Electric
7.4 Alternate Fuels
7.5 Other Fuel Sources
8 Global Autonomous Forklift Market, By Type
8.1 Introduction
8.2 Outdoor
8.3 Indoor
9 Global Autonomous Forklift Market, By Forklift Type
9.1 Introduction
9.2 Pallet Stackers
9.3 Pallet Jacks
10 Global Autonomous Forklift Market, By Sales Channel
10.1 Introduction
10.2 Leasing
10.3 In House Purchase
11 Global Autonomous Forklift Market, By Component
11.1 Introduction
11.2 Software
11.3 Service
11.4 Hardware
11.4.1 Vision System
11.4.2 GPS Receiver
11.4.3 Actuators
11.4.4 Ultrasonic
11.4.5 Radar
11.4.6 Lidar
11.4.7 IMU Sensor
11.4.8 Camera Module Sensor
12 Global Autonomous Forklift Market, By Application
12.1 Introduction
12.2 Warehousing
12.3 Manufacturing
12.4 Material Handling
12.5 Logistics and Freight
12.6 Other Applications
13 Global Autonomous Forklift Market, By End User
13.1 Introduction
13.2 Food and Beverages
13.3 Third Party Logistics (3PL)
13.4 Paper and Pulp
13.5 Automotive
13.6 E Commerce
13.7 Metals and Heavy Machinery
13.8 Aviation
13.9 Chemicals
13.10 Semiconductors and Electronics
13.11 Healthcare
13.12 Construction
13.13 Transportation
13.14 Retail
13.15 Wood Industry
13.16 Other End Users
14 Global Autonomous Forklift Market, By Geography
14.1 Introduction
14.2 North America
14.2.1 US
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Germany
14.3.2 UK
14.3.3 Italy
14.3.4 France
14.3.5 Spain
14.3.6 Rest of Europe
14.4 Asia Pacific
14.4.1 Japan
14.4.2 China
14.4.3 India
14.4.4 Australia
14.4.5 New Zealand
14.4.6 South Korea
14.4.7 Rest of Asia Pacific
14.5 South America
14.5.1 Argentina
14.5.2 Brazil
14.5.3 Chile
14.5.4 Rest of South America
14.6 Middle East & Africa
14.6.1 Saudi Arabia
14.6.2 UAE
14.6.3 Qatar
14.6.4 South Africa
14.6.5 Rest of Middle East & Africa
15 Key Developments
15.1 Agreements, Partnerships, Collaborations and Joint Ventures
15.2 Acquisitions & Mergers
15.3 New Product Launch
15.4 Expansions
15.5 Other Key Strategies
16 Company Profiling
16.1 AGILOX Services GmbH
16.2 Agve AB
16.3 Anhui Heli Co., Ltd
16.4 BALYO
16.5 Crown Equipment Corporation
16.6 Hyster-Yale Materials Handling, Inc
16.7 Hyundai Construction Equipment Co., Ltd.
16.8 Jungheinrich AG
16.9 KION GROUP AG
16.10 Mitsubishi Logisnext Co., Ltd
16.11 Oceaneering International, Inc.
16.12 Scott Automation
16.13 Seegrid Corporation
16.14 Swisslog Holding AG
16.15 Toyota Industries Corporation
List of Tables
Table 1 Global Autonomous Forklift Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Autonomous Forklift Market Outlook, By Navigation Technology (2020-2028) ($MN)
Table 3 Global Autonomous Forklift Market Outlook, By Magnetic Guidance (2020-2028) ($MN)
Table 4 Global Autonomous Forklift Market Outlook, By Laser Guidance (2020-2028) ($MN)
Table 5 Global Autonomous Forklift Market Outlook, By Optical Tape Guidance (2020-2028) ($MN)
Table 6 Global Autonomous Forklift Market Outlook, By Inductive Guidance (2020-2028) ($MN)
Table 7 Global Autonomous Forklift Market Outlook, By Vision Guidance (2020-2028) ($MN)
Table 8 Global Autonomous Forklift Market Outlook, By Simultaneous Localization and Mapping (SLAM) (2020-2028) ($MN)
Table 9 Global Autonomous Forklift Market Outlook, By Other Navigation Technologies (2020-2028) ($MN)
Table 10 Global Autonomous Forklift Market Outlook, By Tonnage Capacity (2020-2028) ($MN)
Table 11 Global Autonomous Forklift Market Outlook, By 5-10 Tons (2020-2028) ($MN)
Table 12 Global Autonomous Forklift Market Outlook, By Below 5 Tons (2020-2028) ($MN)
Table 13 Global Autonomous Forklift Market Outlook, By Above 10 Tons (2020-2028) ($MN)
Table 14 Global Autonomous Forklift Market Outlook, By Fuel Source (2020-2028) ($MN)
Table 15 Global Autonomous Forklift Market Outlook, By Internal Combustion Engine (ICE) (2020-2028) ($MN)
Table 16 Global Autonomous Forklift Market Outlook, By Electric (2020-2028) ($MN)
Table 17 Global Autonomous Forklift Market Outlook, By Alternate Fuels (2020-2028) ($MN)
Table 18 Global Autonomous Forklift Market Outlook, By Other Fuel Sources (2020-2028) ($MN)
Table 19 Global Autonomous Forklift Market Outlook, By Type (2020-2028) ($MN)
Table 20 Global Autonomous Forklift Market Outlook, By Outdoor (2020-2028) ($MN)
Table 21 Global Autonomous Forklift Market Outlook, By Indoor (2020-2028) ($MN)
Table 22 Global Autonomous Forklift Market Outlook, By Forklift Type (2020-2028) ($MN)
Table 23 Global Autonomous Forklift Market Outlook, By Pallet Stackers (2020-2028) ($MN)
Table 24 Global Autonomous Forklift Market Outlook, By Pallet Jacks (2020-2028) ($MN)
Table 25 Global Autonomous Forklift Market Outlook, By Sales Channel (2020-2028) ($MN)
Table 26 Global Autonomous Forklift Market Outlook, By Leasing (2020-2028) ($MN)
Table 27 Global Autonomous Forklift Market Outlook, By In House Purchase (2020-2028) ($MN)
Table 28 Global Autonomous Forklift Market Outlook, By Component (2020-2028) ($MN)
Table 29 Global Autonomous Forklift Market Outlook, By Software (2020-2028) ($MN)
Table 30 Global Autonomous Forklift Market Outlook, By Service (2020-2028) ($MN)
Table 31 Global Autonomous Forklift Market Outlook, By Hardware (2020-2028) ($MN)
Table 32 Global Autonomous Forklift Market Outlook, By Vision System (2020-2028) ($MN)
Table 33 Global Autonomous Forklift Market Outlook, By GPS Receiver (2020-2028) ($MN)
Table 34 Global Autonomous Forklift Market Outlook, By Actuators (2020-2028) ($MN)
Table 35 Global Autonomous Forklift Market Outlook, By Ultrasonic (2020-2028) ($MN)
Table 36 Global Autonomous Forklift Market Outlook, By Radar (2020-2028) ($MN)
Table 37 Global Autonomous Forklift Market Outlook, By Lidar (2020-2028) ($MN)
Table 38 Global Autonomous Forklift Market Outlook, By IMU Sensor (2020-2028) ($MN)
Table 39 Global Autonomous Forklift Market Outlook, By Camera Module Sensor (2020-2028) ($MN)
Table 40 Global Autonomous Forklift Market Outlook, By Application (2020-2028) ($MN)
Table 41 Global Autonomous Forklift Market Outlook, By Warehousing (2020-2028) ($MN)
Table 42 Global Autonomous Forklift Market Outlook, By Manufacturing (2020-2028) ($MN)
Table 43 Global Autonomous Forklift Market Outlook, By Material Handling (2020-2028) ($MN)
Table 44 Global Autonomous Forklift Market Outlook, By Logistics and Freight (2020-2028) ($MN)
Table 45 Global Autonomous Forklift Market Outlook, By Other Applications (2020-2028) ($MN)
Table 46 Global Autonomous Forklift Market Outlook, By End User (2020-2028) ($MN)
Table 47 Global Autonomous Forklift Market Outlook, By Food and Beverages (2020-2028) ($MN)
Table 48 Global Autonomous Forklift Market Outlook, By Third Party Logistics (3PL) (2020-2028) ($MN)
Table 49 Global Autonomous Forklift Market Outlook, By Paper and Pulp (2020-2028) ($MN)
Table 50 Global Autonomous Forklift Market Outlook, By Automotive (2020-2028) ($MN)
Table 51 Global Autonomous Forklift Market Outlook, By E Commerce (2020-2028) ($MN)
Table 52 Global Autonomous Forklift Market Outlook, By Metals and Heavy Machinery (2020-2028) ($MN)
Table 53 Global Autonomous Forklift Market Outlook, By Aviation (2020-2028) ($MN)
Table 54 Global Autonomous Forklift Market Outlook, By Chemicals (2020-2028) ($MN)
Table 55 Global Autonomous Forklift Market Outlook, By Semiconductors and Electronics (2020-2028) ($MN)
Table 56 Global Autonomous Forklift Market Outlook, By Healthcare (2020-2028) ($MN)
Table 57 Global Autonomous Forklift Market Outlook, By Construction (2020-2028) ($MN)
Table 58 Global Autonomous Forklift Market Outlook, By Transportation (2020-2028) ($MN)
Table 59 Global Autonomous Forklift Market Outlook, By Retail (2020-2028) ($MN)
Table 60 Global Autonomous Forklift Market Outlook, By Wood Industry (2020-2028) ($MN)
Table 61 Global Autonomous Forklift Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa Regions are also represented in the same manner as above.

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