Global Autonomous Forklifts Market Will Reach USD 10,501 Million By 2025: Facts & Factors

Autonomous Forklifts Market Share

Autonomous Forklifts Market Share

Global Autonomous Forklifts market is expected to reach a value of around USD 10,501 million by 2025, at a CAGR of around 7.14% between 2019 and 2025.

NEW YORK, UNITED STATES, June 24, 2020 /EINPresswire.com/ -- Facts and Factors Market Research has published a new report titled “Autonomous Forklifts Market By Type (Indoor and Outdoor), By Fuel Source (Electric, Fuel Cells, CNG, and Petrol & Diesel), By Technology (Line Guided, Vision Guided (3D), Laser- Guided, and Others), By Industry (Pharmaceutical, Manufacturing, Food & Beverage, Chemical, Automotive, Paper & Print, and Others), By Truck Type (Side Loader, Telehandler, Counterbalance Forklift, Pallet Jack, Rough Terrain Forklift, Order Picker, Walkie Stacker, Reach Fork Truck, and Others), By Channel (OEM and Aftermarket), and By Capacity (Less than 1000 Kgs, Between 1000 Kgs and 2000 Kgs, Between 2000 Kgs and 5000 Kgs, and Above 5000 Kgs): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025”. According to the report, the global Autonomous Forklifts market was valued at approximately USD 6,576 million in 2018 and is expected to reach a value of around USD 10,501 million by 2025, at a CAGR of around 7.14% between 2019 and 2025.

A forklift is a powered industrial truck that is used for lifting and moving materials over little distances. The autonomous forklifts are produced for reducing the wages of the workers, minimize the operational costs, and enhancing the output. Apparently, the products are driven by CNG, diesel fuel, electricity, and gasoline. Furthermore, electric forklifts are run by a battery or fuel cells imparting the power to the electric motors. In addition to this, forklift safety is controlled by myriad standards including Occupational Safety and Health Administration (OSHA) in the U.S. & Health and Safety Executive in the UK.

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Escalating product demand across commercial & industrial sectors to drive the market trends

Large scale use of autonomous forklifts in commercial & industrial sectors to drive the market expansion over the forecast period. Moreover, these products find lucrative applications in pharmaceutical, automotive, chemical, paper & print, manufacturing, warehouse, food & beverage, and hospitals. They are capable of eliminating manual work in the warehouse and can independently move in barns and carry heavy loads without the need for any human effort.

Furthermore, autonomous forklifts assist in enhancing the output through the acceleration of logistical procedures along with optimum utilization of warehouse spaces. Moreover, these products also minimize the risk of collisions on industrial spaces during its use at the time of material handling in storerooms. All these aforementioned aspects are anticipated to accelerate the growth of the autonomous forklifts industry over the timespan from 2019 to 2025.

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Apparently, a thriving eCommerce business is predicted to favorably leverage market growth over the forecast period. However, strict safety & emission laws pertaining to the functioning of the autonomous forklift can put brakes on the autonomous forklifts industry over the forecast timeline. Nonetheless, the escalating popularity of the battery-driven forklifts along with large-scale product demand in the developing countries will provide the industry players with new opportunities for expanding their business over the forecast period.

Indoor segment to lead the type landscape over the forecast period

The segmental growth over the forecast period is owing to the ability of the product to minimize the risk of accidents in factories or warehouses during the material or equipment handling. Moreover, the autonomous forklift can lift a large quantity of load and can also move easily, thereby further driving the segmental surge over the period from 2019 to 2025.

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Automotive to dominate the industry segment over 2019- 2025

The growth of the segment during the timespan from 2019 to 2025 is due to the elevating need for the autonomous forklifts in the transport of heavy products & logistics across the automotive sector.

Asia Pacific to contribute majorly towards the overall market growth by 2025

The regional market growth over the forecast period is credited to the massive use of forklifts in sea transport, rail transport, & construction activities. Apart from this, the growing need for material handling & demand for the product across the eCommerce sector will proliferate the regional market growth over the forecast timeline.

Some of the key players in the market include AB Volvo, Anhui Heli Co., Ltd., BALYO, Crown Equipment Corporation, Dematic, Doosan Industrial Vehicle America Corp, Gen Surv Robotics, Godrej Material Handling, Hyundai Construction Equipment Co., Ltd., Jungheinrich AG, Kollmorgen, Linde Material Handling, Mitsubishi Caterpillar Forklift America Inc., Nichiyu Forklift, Northland Industrial Truck Company, Inc., Scott, Seegrid Corporation, Swisslog Holding AG, Toyota Industries Corporation, and UniCarriers Americas Corporation.

This report segments the Autonomous Forklifts market as follows:

Global Autonomous Forklifts Market: By Type Segment Analysis

Indoor
Outdoor

Global Autonomous Forklifts Market: By Fuel Source Segment Analysis

Electric
Fuel Cells
CNG
Petrol & Diesel

Global Autonomous Forklifts Market: By Technology Segment Analysis

Line Guided
Vision Guided (3D)
Laser-Guided
Others

Global Autonomous Forklifts Market: By Industry Segment Analysis

Pharmaceutical
Manufacturing
Food & Beverage
Chemical
Automotive
Paper & Print
Others

Global Autonomous Forklifts Market: By Truck Type Segment Analysis

Side Loader
Telehandler
Counterbalance Forklift
Pallet Jack
Rough Terrain Forklift
Order Picker
Walkie Stacker
Reach Fork Truck
Others

Global Autonomous Forklifts Market: By Capacity Segment Analysis

Less than 1000 Kgs
Between 1000 Kgs and 2000 Kgs
Between 2000 Kgs and 5000 Kgs
Above 5000 Kgs

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