SELBYVILLE, Del., October 28, 2024 (Globe Newswire) —
According to a research study by Global Market Insights Inc., the autonomous forklift market is expected to reach USD 14.6 billion by 2032.
Growth in e-commerce and retail sectors are key drivers. As e-commerce expands rapidly, the demand for scalable warehousing and distribution solutions is rapidly increasing. Autonomous forklifts can handle large quantities of goods accurately and quickly. This is critical to meeting increasing consumer expectations for fast and accurate delivery. The continued growth of online shopping and the need for efficient supply chain management are forcing retailers to invest in advanced automation technologies, such as autonomous forklifts, to stay competitive.
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The warehouse forklift segment of the autonomous forklift market is expected to grow rapidly till 2032 due to its advanced features. These forklifts are equipped with sensors, cameras, and AI-driven systems to perform tasks such as picking, stacking, and transporting goods with minimal human intervention. The introduction of these forklifts is being driven by the need to address challenges such as labor shortages, increased demand for faster order fulfillment, and the need for improved safety in warehouse operations. As a result, industries ranging from retail and e-commerce to manufacturing and logistics are investing in autonomous warehouse forklifts to streamline their operations.
The autonomous forklift market in the logistics and cargo sector is expected to generate significant revenue for the market by 2032 due to the need for efficient and streamlined logistics operations. Autonomous forklifts are being deployed in logistics hubs, cargo terminals, and distribution centers to meet the intensive demands of loading, unloading, and transporting goods. These forklifts are equipped with advanced sensors, GPS and connectivity to work seamlessly within large logistics environments and work with other automation systems to ensure smooth flow of goods. For cargo applications, autonomous forklifts offer speed and precision. You can perform repetitive tasks with consistent precision, reduce the risk of product damage, and improve overall productivity by minimizing delays and bottlenecks.
The European autonomous forklift market is expected to witness steady growth until 2032 due to strong focus on automation and technological advancements in the logistics and manufacturing sectors. The European Union’s focus on Industry 4.0 and smart manufacturing is driving the adoption of autonomous material handling solutions in various industries. Countries such as Germany, France and the UK are at the forefront of this trend, with more companies investing in autonomous forklifts to enhance their operational capabilities.
Key players in the autonomous forklift market include Toyota Industries Corporation, KION Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Crown Equipment Corporation, Daifuku Corporation, Murata Machinery Co., Ltd., Still GmbH, and Komatsu. Included. Companies are focused on expanding their product portfolios by integrating advanced capabilities such as AI, machine learning, and enhanced sensor systems to increase efficiency and safety. Strategic partnerships and collaborations with technology providers and logistics companies allow companies to leverage complementary expertise and access new market opportunities.
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Partial chapters of the report’s Table of Contents (TOC):
Chapter 4 Competitive environment in 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates and Forecasts, by Product, 2021-2032 (in USD Billion)
5.1 Key trends
5.2 Warehouse
5.3 Counterbalance
5.4 Others
Chapter 6 Market Estimates and Forecasts, by Tonnage, 2021-2032 (in USD Billion)
6.1 Key trends
6.2 Less than 5 tons
6.3 5-10 tons
6.4 10 tons or more
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, USA, is a global market research and consulting services provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports provide our clients with insightful insights and actionable market data specifically designed and presented to support strategic decision making. These comprehensive reports are designed with unique research methodologies and are available for key industries such as chemistry, advanced materials, technology, renewable energy, and biotechnology.
