Autonomous Forklift Market Research Report Information By Tonnage Capacity (Below 2 Tons, 2-4 Tons, and Above 4 Tons), Navigation Technology (Laser Guidance, Vision Guidance, Inductive Guidance, Magnetic Guidance, Optical Tape Guidance, and Others), By Application (Manufacturing, Material Handling, Warehousing, Logistics & Freight, and Others), By Power Source (Electric and ICE), By Vertical (Food & Beverages, Automotive, 3PL, Paper & Pulp, Metals & Heavy Machinery, E-Commerce, Aviation, Semiconductor & Electronics, Healthcare, and Others),

Global Autonomous Forklift Market Overview

Autonomous Forklift Market Size was valued at USD 3,345.34 million in 2022. The Autonomous Forklift market industry is projected to grow from USD 3,662.26 Million in 2023 to USD 9,639.46 million by 2032, exhibiting a compound annual growth rate (CAGR) of 11.4% during the forecast period (2024 - 2032). Increasing demand for automated warehouses and automated material handling equipment and rapid growth in e-commerce, warehousing, and logistics sectors are the key market drivers boosting the growth of the Autonomous Forklift market.  

FIGURE 1: AUTONOMOUS FORKLIFT MARKET SIZE 2018-2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Autonomous Forklift Market Trends

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  The new product innovation is expected to drive market growth.

  
  

New product innovation is a significant trend in the autonomous forklift market, as manufacturers seek to develop new and improved products that meet the evolving needs of businesses.

One area of innovation is the development of more advanced sensor technology. Sensors are a crucial component of autonomous forklifts, providing real-time information about the environment to enable safe and efficient operation. Manufacturers are investing in the development of new sensors, such as 3D cameras and advanced radar systems, to improve the accuracy and reliability of sensing technology.

Another area of innovation is the development of more sophisticated software and algorithms. Autonomous forklifts rely on software to process sensor data and make decisions about navigation and task execution. Manufacturers are investing in the development of more advanced algorithms that can analyze data more efficiently and make more accurate decisions. For example, some manufacturers are developing machine learning algorithms that can improve the accuracy of object detection and improve the performance of the autonomous forklift over time.

Another trend in new product innovation is the development of hybrid and electric autonomous forklifts. These vehicles offer several advantages over traditional fuel-powered forklifts, including lower emissions, quieter operation, and lower maintenance costs. Manufacturers are investing in the development of more efficient battery technology and charging infrastructure to support the widespread adoption of electric and hybrid autonomous forklifts.

Autonomous Forklift Market Platform Segment Insights:

Autonomous Forklift Tonnage Capacity Insights

Based on tonnage capacity, the Autonomous Forklift Market segmentation includes Below 2 Tons, 2-4 Tons, and Above 4 Tons. The 2-4 Tons held the majority share in 2022, contributing around ~53% to the market revenue. Below 2 ton autonomous forklifts, also known as light-duty autonomous forklifts, are a type of autonomous forklift designed for smaller loads and narrower aisles. They typically have a lower weight capacity and are more manoeuvrable than larger forklifts, making them well-suited for use in smaller warehouses and distribution centers.

FIGURE 2: AUTONOMOUS FORKLIFT MARKET, BY SOURING TYPE, 2022 VS 2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Autonomous Forklift Navigation Technology Insights

Based on navigation technology, the Autonomous Forklift Market segmentation includes laser guidance, vision guidance, inductive guidance, magnetic guidance, optical tape guidance, and others. The laser guidance held the majority share in 2022. Laser guidance is a technology used in some autonomous forklifts to help them navigate and operate in a warehouse environment. Laser guidance systems use sensors and lasers to detect the environment and create a map of the warehouse. The forklift then uses this map to navigate through the warehouse, avoiding obstacles and other hazards. The laser guidance system typically consists of a laser scanner, a reflector, and software to process the data collected by the scanner. The laser scanner emits a laser beam that is reflected off the reflector and back to the scanner. The scanner measures the distance between itself and the reflector, which allows it to create a 3D map of the environment.

Autonomous Forklift Application Insights

Based on application, the Autonomous Forklift Market segmentation includes manufacturing, material handling, warehousing, logistics & freight, and others. The manufacturing held the majority share in 2022. The manufacturing industry is one of the main users of forklifts, as they are used for transporting goods and materials within factories and warehouses. With the advent of autonomous technology, there has been increasing demand for autonomous forklifts in the manufacturing industry. Autonomous forklifts are capable of performing various tasks without human intervention, such as loading and unloading materials, transporting goods, and even performing inventory management. They are equipped with sensors, cameras, and other advanced technologies that allow them to navigate their surroundings and operate safely and efficiently. The demand for autonomous forklifts in the manufacturing industry is driven by several factors, including the need to increase efficiency, reduce costs, and improve safety. By using autonomous forklifts, companies can reduce labor costs and increase productivity by operating 24/7. They can also improve safety by reducing the risk of accidents caused by human error.

Autonomous Forklift Power Source Insights

Based on the power source, the Autonomous Forklift Market segmentation is electric and ICE. Electric dominated the market in 2022. Electric autonomous forklifts are a type of autonomous forklift that are powered by electricity instead of traditional fuels such as gas or diesel. They are becoming increasingly popular due to their environmental friendliness, low operating costs and quiet operation. Electric autonomous forklifts use similar navigation technologies as their non-electric counterparts, such as laser guidance, vision guidance, and magnetic guidance. They can also be equipped with advanced safety features such as obstacle detection sensors and collision avoidance systems.

Autonomous Forklift End User Insights

Based on end-user, the Autonomous Forklift Market segmentation includes food & beverages, automotive, 3PL, paper & pulp, metals & heavy machinery, e-commerce, aviation, semiconductor & electronics, healthcare, and others. The e-commerce owners held the majority share in 2022. E-commerce is a rapidly growing industry that involves the buying and selling of goods and services online. The rise of e-commerce has led to significant changes in the retail and logistics industries, as companies adapt to the changing consumer behavior and demand for faster and more convenient delivery options.

In the e-commerce industry, the use of autonomous forklifts can help companies meet the increasing demand for faster and more efficient order fulfillment. The use of autonomous forklifts can help reduce the time required for order processing and handling, improving the speed and accuracy of order fulfillment and delivery.

Furthermore, autonomous forklifts can help reduce labor costs and increase operational efficiency, allowing e-commerce companies to stay competitive in a rapidly evolving industry. They can be programmed to operate 24/7, reducing the need for manual labor and increasing productivity.

Autonomous Forklift Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific Autonomous Forklift market accounted for ~44% in 2022. the region's large manufacturing and logistics industries, as well as the increasing adoption of automation and robotics in these sectors. The use of autonomous forklifts is expected to grow significantly in the coming years as companies seek to improve efficiency, productivity, and safety in their material handling and transportation operations.

One of the key factors driving the demand for autonomous forklifts in Asia Pacific is the region's large manufacturing industry. The use of automation and robotics is becoming increasingly prevalent in manufacturing operations, and autonomous forklifts can help manufacturers streamline their material handling and transportation processes, reduce labor costs, and increase productivity. The logistics industry is also a significant market for autonomous forklifts in Asia Pacific, with companies seeking to optimize their supply chain management, reduce the time required for order fulfillment, and enhance the overall customer experience.

FIGURE 3: AUTONOMOUS FORKLIFT MARKET SIZE BY REGION 2022 VS 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Europe market accounts for the second-largest market share. the region's strong manufacturing and logistics industries, as well as the increasing adoption of automation and robotics in these sectors. The use of autonomous forklifts is expected to grow significantly in the coming years as companies seek to improve efficiency, productivity, and safety in their material handling and transportation operations. One of the key factors driving the demand for autonomous forklifts in Europe is the region's strong manufacturing industry. The use of automation and robotics is becoming increasingly prevalent in manufacturing operations, and autonomous forklifts can help manufacturers streamline their material handling and transportation processes, reduce labor costs, and increase productivity. The logistics industry is also a significant market for autonomous forklifts in Europe, with companies seeking to optimize their supply chain management, reduce the time required for order fulfillment, and enhance the overall customer experience.

The North America Autonomous Forklift Market is expected to grow at the fastest CAGR between 2022 and 2032. The use of autonomous forklifts is expected to grow significantly in the coming years as companies seek to improve efficiency, productivity, and safety in their material handling and transportation operations. One of the key factors driving the demand for autonomous forklifts in North America is the region's strong manufacturing industry. The use of automation and robotics is becoming increasingly prevalent in manufacturing operations, and autonomous forklifts can help manufacturers streamline their material handling and transportation processes, reduce labor costs, and increase productivity. The retail industry is also a significant market for autonomous forklifts in North America, with companies seeking to improve inventory management, product replenishment, and order fulfillment through automation.

Autonomous Forklift Key Market Players& Competitive Insights

With a strong presence across different verticals and geographies, the Autonomous Forklift market is highly competitive and dominated by established, pure-play vendors. Over 20 vendors cater to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting new technologies. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Autonomous Forklift market is highly competitive, with many vendors offering similar products and services.

The major players in the market include Jungheinrich AG, Swisslog Holding AG, E & K Automation GmbH, Teradyne Inc., and Toyota Industries Corporation constantly takes on new challenges to ensure the stability of its management foundation by extending its reach into business fields such as engine production, vehicle assembly, and the development and production of lift trucks and car air-conditioning compressors. It concentrates on broadening its product offerings to reach new audiences in the global market.

The Autonomous Forklift Market is consolidated, increasing competition, acquisitions, mergers, and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the Autonomous Forklift market include

• Toyota Industries Corporation


• Hyster-Yale Materials Handling, Inc.


• JBT Corporation


• E&K Automation GmbH


• Swisslog Holding AG


• Dematic GmbH & Co. KG (Kion Group)


• Seegrid Corporation


• KUKA AG


• Clearpath Robotics Inc.


• Murata Machinery, Ltd.


• Balyo 


• GreyOrange 


• Jungheinrich AG


• Teradyne Inc.


• Kivnon


• Hammerhead


• Stages Cycling

Autonomous Forklift Industry Developments

• In October 2022, Clearpath Robotics, a manufacturer of mobile robotics platforms for research and development, launched OutdoorNav an autonomous navigation software platform designed for vehicle developers, OEMs, and robotics researchers. OutdoorNav, which is compatible with Clearpath's outdoor mobile platforms as well as third-party industrial vehicles, delivers dependable GPS navigation for faster, more effective autonomous vehicle development.


• In September 2022, Toyota Material Handling Japan ("TMHJ"), a branch of Toyota Industries Corporation, developed an autonomous lift truck with world-first*1AI-based technology that automatically recognizes truck and load location and position and produces automated travel paths to complete loading operations.

Autonomous Forklift Market Segmentation:

Global Autonomous Forklift Tonnage Capacity Outlook

• Below 2 Tons


• 2-4 Tons


• Above 4 Tons

Global Autonomous Forklift Navigation Technology Outlook

• Laser Guidance


• Vision Guidance


• Inductive Guidance


• Magnetic Guidance


• Optical Tape Guidance


• Others

Global Autonomous Forklift Application Outlook

• Manufacturing


• Material Handling


• Warehousing


• Logistics & Freight


• Others

Global Autonomous Forklift Power Source Outlook

• Electric


• ICE

Global Autonomous Forklift Vertical Outlook

• Food & Beverages


• Automotive


• 3PL


• Paper & Pulp


• Metals & Heavy Machinery


• E-Commerce


• Aviation


• Semiconductor & Electronics


• Healthcare


• Others

Autonomous Forklift Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • GCC Countries
  
  
  • South Africa
  
  
  • Rest of MEA
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of South America