Europe Autonomous Forklift Market Size, Share & Industry Trends Analysis Report By Type, By Application, By Navigation Technology, By Tonnage Capacity, By Operation Type, By Propulsion Type, By Vertical, By Country and Growth Forecast, 2023 - 2029
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Market Report Description
The Europe Autonomous Forklift Market would witness market growth of 12.2% CAGR during the forecast period (2023-2029).
Implementing automated guided vehicle (AGV) technology in manufacturing operations has proven highly advantageous, resulting in significant reductions in operating expenses and enhanced material throughput. However, the benefits of this technology extend beyond these primary advantages. Implementing material handling automation in the first-mile process can enhance a company's profitability and customer contentment across its warehouses.
The transportation of materials and products within a warehouse and distribution center is facilitated using automated pallet jacks. The newly developed pallet jack operates differently from traditional ones. Batteries commonly power these devices and can transport loads weighing several tons. Implementing autonomous pallet jacks in warehouse operations has been observed to enhance efficiency and safety.
These machines are capable of continuous operation without the need for breaks, can navigate through narrow spaces, and have the ability to detect and avoid obstacles and individuals. In addition, it is common practice to integrate them with warehouse management systems to optimize the flow of goods and reduce human errors.
Autonomous forklifts and other AGVs must adhere to safety standards outlined in the EN 1525 and EN 1526 rules, which deal with automated technology. These laws should aid in adopting autonomous forklifts and other automated material-handling equipment. European countries were the first to utilize automated warehouse material handling systems. Furthermore, localized distribution hubs are now increasingly essential due to Brexit. For instance, post-Brexit warehouse availability was at a record low. In addition, there is a higher requirement for quick order fulfilment due to rising e-commerce sales.
The Germany market dominated the Europe Autonomous Forklift Market by Country in 2022; thereby, achieving a market value of $606.5 million by 2029. The UK market is exhibiting a CAGR of 11.3% during (2023 - 2029). Additionally, The France market would experience a CAGR of 13.1% during (2023 - 2029).
Based on Type, the market is segmented into Pallet Jacks and Pallet Stackers. Based on Application, the market is segmented into Material Handling, Warehousing, Logistics & Freight, Manufacturing and Others. Based on Navigation Technology, the market is segmented into Vision Guidance, Laser Guidance, Magnetic & Inductive Guidance, Optical Tape Guidance and SLAM & Others. Based on Tonnage Capacity, the market is segmented into Below 5 Tons, 5-10 Tons and Above 10 Tons. Based on Operation Type, the market is segmented into Indoor and Outdoor. Based on Propulsion Type, the market is segmented into Electric and ICE & Others. Based on Vertical, the market is segmented into Food & Beverages, 3PL, Healthcare, Automotive & Aviation, Retail & Ecommerce, Paper & Pulp, Electronics & Semiconductors and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Autonomous Forklift Market is Projected to reach USD 9.5 Billion by 2029, at a CAGR of 13%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mitsubishi Logisnext Co., Ltd., Toyota Industries Corporation, Oceaneering International, Inc., Kuka AG (Swisslog Holding AG), Hyster-Yale Materials Handling, Inc., Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.), Jungheinrich AG, Balyo, KION GROUP AG and AGILOX Services GmbH
Scope of the Study
Market Segments Covered in the Report:
- Pallet Jacks
- Pallet Stackers
- Material Handling
- Logistics & Freight
By Navigation Technology
- Vision Guidance
- Laser Guidance
- Magnetic & Inductive Guidance
- Optical Tape Guidance
- SLAM & Others
By Tonnage Capacity
- Below 5 Tons
- 5-10 Tons
- Above 10 Tons
By Operation Type
By Propulsion Type
- ICE & Others
- Food & Beverages
- Automotive & Aviation
- Retail & Ecommerce
- Paper & Pulp
- Electronics & Semiconductors
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Mitsubishi Logisnext Co., Ltd.
- Toyota Industries Corporation
- Oceaneering International, Inc.
- Kuka AG (Swisslog Holding AG)
- Hyster-Yale Materials Handling, Inc.
- Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.)
- Jungheinrich AG
- KION GROUP AG
- AGILOX Services GmbH
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