Autonomous Forklift Market (By Sales Channel: In-house Purchase, Leasing; By Automation level: Level 1, Level 2, Level 3, Level 4, Level 5; By Tonnage: Below 5 tons, 5-10 tons, More than 10 tons; By Application: Manufacturing, Warehousing, Freight and Logistics, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global autonomous forklifts market size is expected to reach around US$ 12,162.10 Mn by 2027 and market is growing at a CAGR of 7.14% during the forecast period 2020 to 2027.

Forklifts are usually used in the warehouses and distribution centers it is a powered industrial truck used to lift and move materials over short distances.

Market Dynamics

Wide applicability of autonomous forklift in various end use industries such as transportation & logistics, manufacturing, paper industry, wood industry, etc. this is a major factor expected to drive the growth of global autonomous forklift market. With the rising automation in various end use industries manufacturer are focused on increasing the operational efficiency. Forklift help in reducing injuries to staff, damage to goods and infrastructure, and improve transport quality.

Flourishing e-commerce sector across the globe, along with distributors and suppliers inclination towards adoption of autonomous forklift in order to speed up productivity and logistical process is another factor expected to augment the growth of global market. Distributors are focused on increasing the productivity due to rising competition and rising fragmented goods flows. Autonomous forklift tend to work as a skilled workforce and critical work can be accomplished with high reliability and without human intervention.

In addition, manufacturers approach towards strategic business development through merger and acquisitions in order to increase the customer base and enhance the product portfolio this is another factor expected to support the growth of target market. Inclination towards increasing the production capacity in order to meet the growing demand is another factor impacting the growth positively.

• In 2019, CLARK Material Handling Company expanded its manufacturing facility in Lexington, KY. The opening of new 18,000 sq. ft. facility, the company is able to meet the growing demand for the CLARK electric and internal combustion products.

However, factors such as a high initial investment and availability of rental services are expected to hamper the growth of global market. Availability of rental services is a major advantage to the manufactures as it lowers the ownership of products. In addition, unavailability of required infrastructure in developing countries in order to support the advanced products is another factor expected to challenge the growth of target market.

High investments by major players for product development and innovative product offerings are factors expected to create new opportunities for players over the forecast period. In addition, increasing merger and acquisition activities in order to increase the business presence are factors expected to further support the target market traction..

Autonomous Forklift Market Segment Analysis, 2019

The global autonomous forklift market is segmented into type, automation level, tonnage, and end use. The automation level segment is bifurcated in to level 1, level 2, level 3, level 4 and level 5. Among the automation level the level 5 segment is expected to witness faster growth over the forecast period.

Segment Analysis by Region

The market in North America is expected to account for major revenue share owing to increasing demand from various end use industries such as wood industry, construction, automotive food and beverages, etc. In addition, availability of required infrastructure in order to facilitate the adoption of advanced devices, coupled with new product offerings are factors expected to further support the growth of target market.

Asia Pacific is expected to witness faster growth in the near future Owing to flourishing e-commerce sector and rising demand from distributors and suppliers. In addition, major players inclination towards developing countries in order to enhance the profit ratio is another factor expected to support the regional market traction.

Competitive Landscape

High investment by the players for new product development, emergence of mid-size enterprises, and business merger activities in order to increase the profit is expected to increase the competition.

Report coverage

The market research study on “Autonomous Forklift Market (Sales Channel: In-house Purchase and Leasing; Automation Level: Level 1, Level 2, Level 3, and Level 4, and Level 5; Tonnage: Below 5 tons, 5-10 tons, and More than 10 tons; Application: Manufacturing, Warehousing, Freight and Logistics, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global autonomous forklift market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global autonomous forklift market, its sales channel, automation level, tonnage, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global autonomous forklift market size and segment markets by sales channel, automation level, tonnage, application, and geography along with the information on companies operating in the market. The autonomous forklift market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.

The major players operating in the autonomous forklift market such as Hyundai Heavy Industries Group, AB Volvo, Jungheinrich AG, Linde Material Handling, KION Group AG, Toyota Material Handling Group, OTTO Motors, Balyo Robotic, Crown equipment, among others.

Market Segmentation

Market By Sales Channel

• In-house Purchase
• Leasing

Market By Automation level

• Level 1
• Level 2
• Level 3
• Level 4
• Level 5

Market By Tonnage

• Below 5 tons
• 5-10 tons
• More than 10 tons

Market By Application

• Manufacturing
• Warehousing
• Freight and Logistics
• Others

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa