Automated Forklift Trucks Market Trends and Size Analysis

The “Automated Forklift Trucks Market Research Report Overview by 2024” market size is reached USD 0.63 billion by 2023 and it is projected to reach USD 1.52 billion by 2032 between the forecast period and expected Compound annual growth rate of 10.4% between the forcast period by (2023-2032).

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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 Between, 2024-2032

Major Keyplayers of automated forklift trucks market:

Some of the key players operating in the global automated forklift trucks Industry are:

• 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)

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Key industry developments of automated forklift trucks market:

• • 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.

Drivers and restraints of automated forklift trucks market:

• • • 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 Insights:

• • • 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

Table of Contents:

• • • 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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