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Press Release
Automated Forklift Trucks Market is expected to grow CAGR of 10.4% by 2032
Fortune Business Insights recently released “The Automated Forklift Trucks Market Report 2024,” offering in-depth market analysis and critical insights to help clients gain a competitive edge. This comprehensive study delivers key findings for strategic advantage.
Automated Forklift Trucks Market Share, Size & Industry Analysis, By Type (Pallet Mover, Counterbalance, Outrigger, and Reach Truck), By Navigation Technology (Laser Guided, Magnetic Guided, Vision Guided, and Others), By Application (Transportation & Distribution, Storage & Assembly, and Packaging), By Industry (Automotive, Food & Beverage, E-Commerce, and Others), and Regional Forecast, 2024-2032
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The market’s competitive landscape for automated forklift trucks market is evaluated by analyzing key industry players, their production capacities and utilization rates, automated forklift trucks marketM’s production chain, manufacturer pricing, and the revenue each manufacturer generates globally in the automated forklift trucks marketM sector.
Major companies of automated forklift trucks market:
- Toyota Industries Corporation (Japan)
- JBT (U.S.)
- Mitsubishi Caterpillar Forklift America Inc. (U.S.)
- Agilox Services GmbH (Austria)
- Seegrid Corporation (U.S.)
- Kollmorgen (U.S.)
- KION GROUP AG (Germany)
- Hyster-Yale Materials Handling, Inc (U.S.)
- E&K Automation GmbH (Germany)
- Mitsubishi Logisnext Co. Ltd (Japan)
Market atributes:
| Report Componant | Aspects |
| Forecast Period | 2023-2032 |
| Projected Market Value for 2023: | USD 0.63 billion |
| Forecasted Market Value for 2032: | USD 1.52 billion |
| Compound Annual Growth Rate (CAGR): | 10.4 |
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Key Drivers and restraints:
- Driver: Increasing Demand for Warehouse AutomationThe growing trend towards warehouse automation drives the adoption of automated forklift trucks, which enhance efficiency, reduce labor costs, and improve inventory management in logistics and distribution centers.
- Driver: Technological AdvancementsAdvancements in robotics, artificial intelligence, and sensor technology improve the capabilities of automated forklift trucks, making them more effective at navigating complex environments and handling various loads.
- Driver: Labor Shortages and Rising CostsLabor shortages and increasing labor costs prompt businesses to invest in automated forklift trucks to reduce reliance on human operators and ensure consistent and efficient material handling.
- Restraint: High Initial InvestmentThe significant capital required for purchasing and integrating automated forklift trucks can be a barrier for smaller businesses and warehouses with limited budgets, impacting overall market adoption.
- Restraint: Complexity of Integration and MaintenanceIntegrating automated forklift trucks into existing warehouse systems can be complex and may require significant modifications, while ongoing maintenance and technical support can add to operational costs and challenges.
Regional atributes:
- North America (By Type, By Navigation Technology, By Application, By Industry, and By Country)
- U.S. (By Type)
- Canada (By Type)
- Europe (By Type, By Navigation Technology, By Application, By Industry, and By Country)
- Germany (By Type)
- U.K. (By Type)
- France (By Type)
- Russia (By Type)
- Italy (By Type)
- Spain (By Type)
- Nordics (By Type)
- Benelux (By Type)
- Rest of Europe
- Asia Pacific (By Type, By Navigation Technology, By Application, By Industry, and By Country)
- China (By Type)
- Japan (By Type)
- India (By Type)
- South Korea (By Type)
- Southeast Asia (By Type)
- Rest of the Asia Pacific
- Middle East & Africa (By Type, By Navigation Technology, By Application, By Industry, and By Country)
- GCC (By Type)
- South Africa (By Type)
- Rest of the Middle East & Africa
- Latin America (By Type, By Navigation Technology, By Application, By Industry, and By Country)
- Brazil (By Type)
- Mexico (By Type)
- Rest of Latin America
Industry developments:
- December 2023: Linde Material Handling, a subsidiary of KION Group AG, launched a new counterbalance type of forklift truck for warehouse automation. It is integrated with vision guided navigation technology. The product has a load capacity of around 2 to 3 tons. Moreover, it can be used for the transportation of products from one location to another.
- April 2023: Doosan Industrial Vehicle, a subsidiary of Doosan Corporation, signed a partnership with Kollmorgen. The partnership has been made to improve automation in the Kollmorgen. In addition, the main aim of the partnership is to improve the production of automated forklift trucks.
- March 2023: Jungheinrich AG, an exclusive distributor of Mitsubishi Logisnext Americas Group, introduced a new EKX 516Ka autonomous truck for handling and storage applications. It is a high rack stacker and offers features such as environment friendliness, versatility, powerfulness, maximum efficiency, and high productivity.
- November 2022: Linde Material Handling, a subsidiary of KION Group AG, introduced the R-matic autonomous reach truck for warehouse and logistics applications. It has a height of more than 11 meters and load capacity of 1,600 KG. It uses vision guided navigation technology with an innovative 3D camera to detect and maintain the precise loading location.
- March 2022: Otto Motors launched new automated products, such as OTTO 1500 and OTTO 100, for warehouse and manufacturing facility applications. They have a loading capacity of 2,640 pounds and feature laser guided navigation technology. They reduce labor costs, increasing the production capacity of manufacturing sectors.
- April 2022: Seegrid Corporation signed an agreement with Sumitomo Heavy Industries to supply autonomous solutions for manufacturing facilities. The basic aim of the agreement is to improve the manufacturing operations for automated solutions.
Table of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Merger, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
TOC Continued…!
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