According to the report by Expert Market Research (EMR), the global automated forklift trucks market size is projected to grow at a CAGR of 7.9% between 2024 and 2032. Aided by the increasing automation in material handling across various industries, the market is expected to grow significantly by 2032.
Automated forklift trucks, often termed as self-driving forklifts, are pivotal in modern warehouses and industrial settings. These vehicles are engineered to operate without direct human intervention, enhancing efficiency and reducing operational costs. They are increasingly being adopted in sectors like manufacturing, warehousing, and logistics, thanks to their ability to streamline operations and augment productivity.
A key driver of the automated forklift trucks market growth is the growing demand for automation in material handling. Industries are constantly seeking solutions to optimise efficiency, speed up operations, and reduce human error. Automated forklifts meet these needs by offering precise and consistent performance. Furthermore, as labour costs rise globally, automated forklifts present a cost-effective alternative, capable of operating round the clock with minimal supervision.
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Another factor contributing to the automated forklift trucks market demand is the advancement in technology. Modern automated forklifts are equipped with sensors, cameras, and artificial intelligence (AI), allowing them to navigate complex environments safely. This technological evolution not only enhances the capabilities of these forklifts but also broadens their applicability across different industries.
Automated forklift trucks offer significant advantages in terms of safety and productivity. By minimising the need for human drivers, they reduce the risk of accidents and injuries in the workplace. Additionally, these forklifts can be programmed to follow the most efficient routes and handle materials with precision, resulting in optimal productivity and reduced damage to goods.
Geographically, North America accounts for a significant portion of the automated forklift trucks market share, driven by the presence of a robust manufacturing sector and a high degree of automation. Europe follows, with its strong emphasis on workplace safety and efficiency.
Looking ahead, the market is poised for substantial growth. Continuous technological advancements, such as the integration of IoT and advanced analytics, are expected to further enhance the capabilities of these forklifts. Additionally, as industries worldwide continue to emphasise efficiency and safety, the demand for automated material handling solutions is likely to soar.
Automated Forklift Trucks Market Segmentation
The market can be divided based on type and region.
Market Breakup by Type
- Pallet Mover
- Counterbalance
- Outrigger
- Reach Truck
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Automated Forklift Trucks Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automated forklift trucks market. Some of the major players explored in the report by Expert Market Research are as follows:
- Toyota Industries Corporation
- Mitsubishi Caterpillar Forklift America Inc.
- Crown Equipment Corporation
- Seegrid Corporation
- Kollmorgen
- Kion Group AG
- Hyster-Yale Materials Handling, Inc.
- Others
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