The Worldwide Autonomous Forklift Market is Projected to reach USD 9.5 Billion by 2029, at a CAGR of 13%

Published Date: 26-May-2023

Special Offering :

Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support

Autonomous Forklift Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Autonomous Forklift Market size is expected to reach $9.5 billion by 2029, rising at a market growth of 13.0% CAGR during the forecast period.

The Pallet Stackers market would register a CAGR of 15.1% during (2023 - 2029). In facilities that process high-volume or medium-sized commodities, pallet stackers are especially useful. Due to its small physical footprint, a stacker can be moved into several positions easily and fast. This significantly increases their functionality and transforms them into useful tools in various professional settings.

The Material Handling market is leading the segment in the Global Autonomous Forklift Market by Application in 2022; thereby, achieving a market value of $3.0 billion by 2029. Autonomous forklifts are programmed to operate with precision, reducing errors and damage to the materials being handled. They can also be programmed to perform a variety of tasks and can adapt to different environments, allowing for greater flexibility in material handling operations.

The Laser Guidance market would experience a CAGR of 12.7% during (2023 - 2029). Fast, precise, and dependable are all characteristics of laser-guided vehicles (LGVs). Autonomous forklifts that are increasing warehouse productivity worldwide employ this navigation technology. Installation of LGVs happens fairly quickly. The engineers of the supplier complete a sizable portion of the work at an office.

The Below 5 Tons market is generating high revenue in the Global Autonomous Forklift Market by Tonnage Capacity in 2022; thereby, achieving a market value of $4.8 billion by 2029. Due to their limited lifting capacity, autonomous forklifts under 5 tons are typically employed for indoor applications. Warehousing, material handling, manufacturing, logistics, and freight use autonomous forklifts. Within confined warehouse floor spaces, these little elevators speed up safe and straightforward product movement.

The Outdoor market would experience a CAGR of 14.3% during (2023 - 2029). Outdoor forklifts have durable features that enable them to function well on challenging and unforgiving surfaces, such as gravel, dirt, mud, and slopes. They can easily maneuver through difficult outdoor situations due to their larger wheels or tires, higher ground clearance, and potent engines or motors.

The Electric market acquired maximum revenue in the Global Autonomous Forklift Market by Propulsion Type in 2022; thereby, achieving a market value of $7.1 billion by 2029. The electrification of the items is essential for the industrial automation industry's future. The adoption of machinery with electric power is quickly increasing across all geographies due to advantages including reduced emissions, fewer operation expenses, and ease of movement. Growing electric infrastructure, supportive government regulations, and straightforward integration with automotive software and hardware technologies are some of the key factors influencing the growth of electric propulsion autonomous forklifts during the projected period.

The Food & Beverages would showcase a CAGR of 11% during the forecast period. Farms, grocery stores, warehouses, processing facilities, and other retail facilities must process bulk orders of food and beverages. By the kind of items and weight classes, several forklifts are employed to assist in the pallet management of bulk orders. In addition, forklifts can aid in the production facilities' commercial food preparation, preservation, processing procedures, and moving materials.

The Asia Pacific market dominated the Global Autonomous Forklift Market by Region in 2022; thereby, achieving a market value of $3.7 billion by 2029. The Europe market is anticipated to grow at a CAGR of 12.2% during (2023 - 2029). Additionally, The North America market would witness a CAGR of 12.5% during (2023 - 2029).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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

Global Autonomous Forklift Market Segmentation

By Type

  • Pallet Jacks
  • Pallet Stackers

By Application

  • Material Handling
  • Warehousing
  • Logistics & Freight
  • Manufacturing
  • Others

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

  • Indoor
  • Outdoor

By Propulsion Type

  • Electric
  • ICE & Others

By Vertical

  • Food & Beverages
  • 3PL
  • Healthcare
  • Automotive & Aviation
  • Retail & Ecommerce
  • Paper & Pulp
  • Electronics & Semiconductors
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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
  • AGILOX Services GmbH

Unique Offerings from KBV Research

  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Related Reports:

North America Autonomous Forklift Market size & Opportunities 2023-2029

Europe Autonomous Forklift Market & Growth Forecast 2023-2029

Asia Pacific Autonomous Forklift Market Share & Industry Outlook to 2029

LAMEA Autonomous Forklift Market Growth, Trends & Forecasts 2023-2029

Request a Free Sample Copy

Why Choose Us

  • 24/7 Research support
    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Information security
    Your personal and confidential information is safe and secure.