Automated Forklift Trucks Market: Key Growth Factors, Market Size, and Trends by 2024

The Automated Forklift Trucks Market sector is undergoing significant transformation, with substantial growth and technological advancements expected by 2032. According to a new in-depth market research report, the sector is poised for expansion, driven by various factors such as market size, share, and emerging trends.

This comprehensive report provides key insights into the Automated Forklift Trucks Market, exploring critical market segmentation and definitions. It highlights the essential components driving growth, offering a clear picture of the industry’s trajectory. Utilizing SWOT and PESTEL analyses, the report evaluates the market’s strengths, weaknesses, opportunities, and threats, while also considering political, economic, social, technological, environmental, and legal factors that impact the market landscape.

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Market Summary:

The global automated forklift trucks market size was valued at USD 0.63 billion in 2023. The market is projected to grow from USD 0.69 billion in 2024 to USD 1.52 billion by 2032, exhibiting a CAGR of 10.4% during the forecast period.

Recent industry developments are;

• • Linde Material Handling, a subsidiary of KION Group AG, launched a new counterbalance type of forklift truck for warehouse automation. It is integrated with vision guided navigation technology. The product has a load capacity of around 2 to 3 tons. Moreover, it can be used for the transportation of products from one location to another.
  • Doosan Industrial Vehicle, a subsidiary of Doosan Corporation, signed a partnership with Kollmorgen. The partnership has been made to improve automation in the Kollmorgen. In addition, the main aim of the partnership is to improve the production of automated forklift trucks.
  • Jungheinrich AG, an exclusive distributor of Mitsubishi Logisnext Americas Group, introduced a new EKX 516Ka autonomous truck for handling and storage applications. It is a high rack stacker and offers features such as environment friendliness, versatility, powerfulness, maximum efficiency, and high productivity.
  • Linde Material Handling, a subsidiary of KION Group AG, introduced the R-matic autonomous reach truck for warehouse and logistics applications. It has a height of more than 11 meters and load capacity of 1,600 KG. It uses vision guided navigation technology with an innovative 3D camera to detect and maintain the precise loading location.
  • Otto Motors launched new automated products, such as OTTO 1500 and OTTO 100, for warehouse and manufacturing facility applications. They have a loading capacity of 2,640 pounds and feature laser guided navigation technology. They reduce labor costs, increasing the production capacity of manufacturing sectors.

Browse Detailed TOC, Tables and Figures with Charts which is spread across 100+ Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

Major Players:

Toyota Industries Corporation (Japan), JBT (U.S.), Mitsubishi Caterpillar Forklift America Inc. (U.S.), Agilox Services GmbH (Austria), Seegrid Corporation (U.S.), Kollmorgen (U.S.), KION GROUP AG (Germany), Hyster-Yale Materials Handling, Inc (U.S.), E&K Automation GmbH (Germany), Mitsubishi Logisnext Co. Ltd (Japan)

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Automated Forklift Trucks Market Segmentation:

By Type

• Pallet Mover
• Counterbalance
• Outrigger
• Reach Truck

By Navigation Technology

• Laser Guided
• Magnetic Guided
• Vision Guided
• Others (Wire Guided, and others)

By Application

• Transportation & Distribution
• Storage & Assembly
• Packaging

By Industry

• Automotive
• Food & Beverage
• E-commerce
• Others (Healthcare, and others)

Reasons to purchase this report:

This report offers a detailed analysis of the competitive landscape, emerging growth areas, market conditions, and key trends within the Automated Forklift Trucks Market. It helps businesses identify expansion opportunities while addressing potential risks and challenges. By assessing product portfolios and business segments, the report provides valuable insights that guide stakeholders in formulating informed investment and market strategies.

The in-depth understanding of industry dynamics presented in the report supports the creation of effective strategies for success in the Automated Forklift Trucks Market, greatly enhancing decision-making. Overall, this report is an essential resource for those looking to stay updated in this rapidly evolving industry.

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Drivers & Restraints:

• Drivers:
  • Increasing demand for automation in warehouses and logistics operations to enhance efficiency and reduce labor costs.
  • Technological advancements in robotics and AI improving the performance, safety, and reliability of automated forklift trucks.
• Restraints:
  • High initial investment and integration costs associated with automated forklift systems may deter small and medium-sized enterprises.
  • Concerns about the safety and reliability of automated systems in dynamic and complex warehouse environments.

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Automated Forklift Trucks Market Regional Segmentation:

• North America (By Type, By Navigation Technology, By Application, By Industry, and By Country)
  • U.S. (By Type)
  • Canada (By Type)
• Europe (By Type, By Navigation Technology, By Application, By Industry, and By Country)
  • Germany (By Type)
  • U.K. (By Type)
  • France (By Type)
  • Russia (By Type)
  • Italy (By Type)
  • Spain (By Type)
  • Nordics (By Type)
  • Benelux (By Type)
  • Rest of Europe
• Asia Pacific (By Type, By Navigation Technology, By Application, By Industry, and By Country)
  • China (By Type)
  • Japan (By Type)
  • India (By Type)
  • South Korea (By Type)
  • Southeast Asia (By Type)
  • Rest of the Asia Pacific
• Middle East & Africa (By Type, By Navigation Technology, By Application, By Industry, and By Country)
  • GCC (By Type)
  • South Africa (By Type)
  • Rest of the Middle East & Africa
• Latin America (By Type, By Navigation Technology, By Application, By Industry, and By Country)
  • Brazil (By Type)
  • Mexico (By Type)
  • Rest of Latin America

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