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Global Autonomous ForkliftMarket to reach USD 6.6 billion by 2028.

Global Autonomous Forklift Market Size Study, ByTonnage Capacity(Below 5 Tons, 5-10 Tons,Above10 Tons) By Application(Manufacturing, Warehousing, Material Handling, Logistics And Freight, Others) By Navigation Technology( Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Optical Tape Guidance, Others ) By Industry(3PL, Food And Beverages, Automotive, . Paper And Pulp, Metals AndHeavy Machinery, E-Commerce, Aviation, Semiconductors And Electronics, Healthcare, Others) And Regional Forecasts 2022-2028

Product Code: ALTPCV-60458027
Publish Date: 15-05-2022
Page: 200

Global Autonomous ForkliftMarket is valued approximately USD 3 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 12.7% over the forecast period 2022-2028.
An autonomous forklift is an integral part of material handling equipment. Automated material handling eliminates the need for human intervention in basic operations such as precisely storing an item at a predefined location, retrieving an item, and transferring goods without risk of damage to specific processing or interface points. Thus, the use of an autonomous forklift reduces labour costs while also improving space utilisation. Increasing warehouse rents and decreasing warehouse availability are expected to drive the adoption of autonomous forklifts during the forecasted period. Key players are taking strategies to enhance their market share. For instance, Jungheinrich AG entered into an intralogistics collaboration with TRUMPG in July 2021. Jungheinrich AG announced the provision of driverless trucks to TRUMPF to autonomously transport sheet metal parts between various machine tools and storage sites, while TRUMPF would supply its production-control software TruTops Fab, which would assist manufacturers improve their logistics. Similarly, AGILOX Services Gmbh agreed into an investment agreement with Carlyle Group in June 2021. Carlyle Group is a multinational investment corporation that makes investments in developing technology. The fresh cash will help AGILOX expand its geographic reach and product development. As a result, the market for autonomous forklifts is likely to expand significantly in the coming years. However, AI and WMS have resulted in high integration and switching costs this would inhibit the market growth.

The key regions considered for the global Autonomous Forklift Marketstudy includes Asia Pacific, North America, Europe, Latin America, and Rest of the World.Because of the increasing use of autonomous forklifts in China and India, the Asia Pacific region is expected to occupy the greatest share of the market by 2028. Other nations in the area, like Japan and South Korea, are expected to increase their market share by upgrading and retrofitting existing automated material handling equipment. Furthermore, worldwide autonomous forklift manufacturers are relocating to the region. The transfer of technology has resulted in an increase in the number of local players, which is likely to lower the cost of adopting autonomous forklifts in the region. As a result, the area is likely to grow its market share throughout the projection period. Whereas, with the rising interest in automation technologies, Europe is expected to occupy the second highest share of the autonomous forklift market by 2028. Europe has been the most developed market in terms of warehouse and material handling automation installation. High labour costs, a lack of space, and strict worker safety regulations are just a few of the key issues driving automation technology adoption in the European material handling ecosystem.

Major market player included in this report are:
Toyota Industries Corporation
Kion Group Ag
Mitsubishi Logisnext Co. Ltd
Jungheinrich Ag
Agilox Services Gmbh
Hyster-Yale Materials Handling
Swisslog Ag
Oceaneering International, Inc
Hyundai Construction Equipment Co., Ltd.
Balyo Sa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Application offerings of key players. The detailed segments and sub-segment of the market are explained below:
ByTonnage Capacity:
Below 5 tons
5-10 tons
Above 10 tons
Material handling
Logistics and Freight
By Navigation Technology:
Laser Guidance
Magnetic Guidance
Vision Guidance
Inductive Guidance
Optical Tape Guidance
By Industry:
Food and Beverages
Paper and Pulp
Metals and Heavy Machinery
Semiconductors and Electronics
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Animal HealthMarket in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Autonomous Forklift Market, by Region, 2020-2028 (USD Billion)
1.2.2. Autonomous Forklift Market, by Tonnage Capacity,2020-2028 (USD Billion)
1.2.3. Autonomous Forklift Market, by Application,2020-2028 (USD Billion)
1.2.4. Autonomous Forklift Market, by Navigation Technology,2020-2028 (USD Billion)
1.2.5. Autonomous Forklift Market, by Industry,2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Autonomous Forklift Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. GlobalAutonomous Forklift Market Dynamics
3.1. Autonomous Forklift Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Demand for automated warehouses & automated material handling systems is increasing. Increased activity in the e-commerce, logistics, and storage industries
3.1.2. Market Challenges AI and WMS have resulted in high integration and switching costs.
3.1.3. Market Opportunities Future warehouse operations will make use of 5G connection. Development of IoT-enabled self-driving forklifts
Chapter 4. Global Autonomous Forklift MarketIndustry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. GlobalAutonomous Forklift Market, by Tonnage Capacity
6.1. Market Snapshot
6.2. GlobalAutonomous Forklift Market by Tonnage Capacity, Performance – Potential Analysis
6.3. GlobalAutonomous Forklift Market Estimates & Forecasts by Tonnage Capacity2018-2028 (USD Billion)
6.4. Autonomous Forklift Market, Sub Segment Analysis
6.4.1. Below 5 tons
6.4.2. 5-10 tons
6.4.3. Above 10 tons
Chapter 7. GlobalAutonomous Forklift Market, by Application
7.1. Market Snapshot
7.2. GlobalAutonomous Forklift Market by Application, Performance – Potential Analysis
7.3. GlobalAutonomous Forklift Market Estimates & Forecasts by Application2018-2028 (USD Billion)
7.4. Autonomous Forklift Market, Sub Segment Analysis
7.4.1. Manufacturing
7.4.2. Warehousing
7.4.3. Material handling
7.4.4. Logistics and Freight
7.4.5. Others
Chapter 8. GlobalAutonomous Forklift Market, by Navigation Technology
8.1. Market Snapshot
8.2. GlobalAutonomous Forklift Market by Navigation Technology, Performance – Potential Analysis
8.3. GlobalAutonomous Forklift Market Estimates & Forecasts by Navigation Technology2018-2028 (USD Billion)
8.4. Autonomous Forklift Market, Sub Segment Analysis
8.4.1. Laser Guidance
8.4.2. Magnetic Guidance
8.4.3. Vision Guidance
8.4.4. Inductive Guidance
8.4.5. Optical Tape Guidance
8.4.6. Others
Chapter 9. Global Autonomous Forklift Market, by Industry
9.1. Market Snapshot
9.2. Global Autonomous Forklift Market by Industry, Performance – Potential Analysis
9.3. Global Autonomous Forklift Market Estimates & Forecasts by Industry2018-2028 (USD Billion)
9.4. Autonomous Forklift Market, Sub Segment Analysis
9.4.1. 3PL
9.4.2. Food and Beverages
9.4.3. Automotive
9.4.4. Paper and Pulp
9.4.5. Metals and Heavy Machinery
9.4.6. E-commerce
9.4.7. Aviation
9.4.8. Semiconductors and Electronics
9.4.9. Healthcare
9.4.10. Others
Chapter 10. Global Autonomous Forklift Market, Regional Analysis
10.1. Autonomous Forklift Market, Regional Market Snapshot
10.2. North America Autonomous Forklift Market
10.2.1. U.S. Autonomous Forklift Market Tonnage Capacitybreakdown estimates & forecasts, 2018-2028 Application breakdown estimates & forecasts, 2018-2028 Navigation Technologybreakdown estimates & forecasts, 2018-2028 Industry breakdown estimates & forecasts, 2018-2028
10.2.2. CanadaAutonomous Forklift Market
10.3. EuropeAutonomous Forklift Market Snapshot
10.3.1. U.K.Autonomous Forklift Market
10.3.2. GermanyAutonomous Forklift Market
10.3.3. FranceAutonomous Forklift Market
10.3.4. SpainAutonomous Forklift Market
10.3.5. ItalyAutonomous Forklift Market
10.3.6. Rest of EuropeAutonomous Forklift Market
10.4. Asia-PacificAutonomous Forklift Market Snapshot
10.4.1. ChinaAutonomous Forklift Market
10.4.2. IndiaAutonomous Forklift Market
10.4.3. JapanAutonomous Forklift Market
10.4.4. AustraliaAutonomous Forklift Market
10.4.5. South KoreaAutonomous Forklift Market
10.4.6. Rest of Asia PacificAutonomous Forklift Market
10.5. Latin AmericaAutonomous Forklift Market Snapshot
10.5.1. BrazilAutonomous Forklift Market
10.5.2. MexicoAutonomous Forklift Market
10.6. Rest of The WorldAutonomous Forklift Market

Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. Toyota Industries Corporation Key Information Overview Financial (Subject to Data Availability) ApplicationSummary Recent Developments
11.2.2. Kion Group Ag
11.2.3. Mitsubishi Logisnext Co. Ltd
11.2.4. Jungheinrich Ag
11.2.5. Agilox Services Gmbh
11.2.6. Hyster-Yale Materials Handling
11.2.7. Swisslog Ag
11.2.8. Oceaneering International, Inc
11.2.9. Hyundai Construction Equipment Co., Ltd.
11.2.10. Balyo Sa
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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