The global autonomous forklift market size is expected to reach USD 8.71 Billion by 2030 according to a new study by Polaris Market Research. The report “Autonomous Forklift Market Share, Size, Trends, Industry Analysis Report, By Tonnage Capacity (Below 5 Tons, 5-10 Tons, Above 10 Tons), By Application (Manufacturing, Warehousing, Material Handling, Logistics & Freight, Others); By Industry; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The factors driving the growth of the industry includes the rapid technological advancements, infrastructural development, increased investment in research & development, rising application of autonomous forklift in various end-use industries, flourishing e-commerce sector, and others.
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The demand for the industry is estimated to be accelerated by the emergence of industry 4.0 as well as the revolution of industrial automation, resulting in the increased use of Automated Guided Vehicles (AGVs) and related software. This is further creating a lucrative opportunity for the manufacturer to develop and offer innovative products to consumers across the globe.
Based on the application, warehousing is expected to dominate the global market. There has been rapid adoption of autonomous forklift technologies across the warehouse sector. Since these machines reduce the cost of labor and aids in improved operational productivity, the industry is anticipated to grow.
Market participants such as Hyster-Yale Materials Handling, Agve AB, Anhui Heli Co., Ltd, Balyo SA, Agilox Services Gmbh, Seegrid Corporation, Hyundai Construction Equipment Co., Ltd., Jungheinrich AG, Kion Group AG, Mitsubishi Logisnext Co. Ltd, Oceaneering International, Inc, Crown Equipment Corporation, Scott Automation, Swisslog AG, and Toyota Industries Corporation are some of the key players operating in the industry.
For instance, in May 2021, Mitsubishi Logisnext Americas Group entered into a partnership with Phantom Auto Partners, a leading provider of interoperable remote operation software to scale up remote operation.
Polaris market research has segmented the autonomous forklift market report on the basis of tonnage capacity, application, industry, and region:
Autonomous Forklift, Tonnage Capacity Outlook (Revenue – USD Billion, 2018 – 2030)
- Below 5 Tons
- 5-10 Tons
- Above 10 Tons
Autonomous Forklift, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Material handling
- Logistics & Freight
Autonomous Forklift, Industry Outlook (Revenue – USD Billion, 2018 – 2030)
- Food & Beverages
- Paper & Pulp
- Metals & Heavy Machinery
- Semiconductors & Electronics
Autonomous Forklift, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa