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Autonomous Forklift Market Set to Grow at 11.9% Compound Annual Growth Rate by 2031


Autonomous Forklift Market Size

Autonomous Forklift Market Size

Autonomous Forklift Market by Tonnage, by Navigation Technology, by End Use, by Application: Global Opportunity Analysis and Industry Forecast, 2021-2031.

PORTLAND, OR, UNITED STATES, July 26, 2023/EINPresswire.com/ — Surge in demand for automation solution in various industries, reduction of labor cost in organizations, and increase in safety, accuracy & productivity drive the global autonomous forklift market. The outbreak of the COVID-19 pandemic had a negative impact on the market growth. Based on region, Asia-Pacific held the largest share in 2021, contributing to more than two-fifths of the global autonomous forklift market share.

According to the report published by Allied Market Research, the global autonomous forklift market size garnered $3.5 billion in 2021, and is estimated to generate $10.5 billion by 2031, manifesting a CAGR of 11.9% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

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The research provides detailed segmentation of the global autonomous forklift market based on tonnage, navigation technology, end-use, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on navigation technology, the laser segment held the highest share in 2021, accounting for nearly two-fifths of the global autonomous forklift market, and is expected to continue its leadership status during the forecast period. However, the vision segment is expected to register the highest CAGR of 14.6% from 2022 to 2031.

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Based on end use, the retail and wholesale segment accounted for the highest share in 2021, contributing to around two-fifths of the global autonomous forklift market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the food industry segment is expected to manifest the highest CAGR of 14.7% from 2022 to 2031.

Based on application, the indoor segment accounted for the highest share in 2021, holding more than two-thirds of the global autonomous forklift market, and is expected to continue its leadership status during the forecast period. However, the outdoor segment is estimated to grow at the highest CAGR of 12.8% during the forecast period.

Based on region, Asia-Pacific held the largest share in 2021, contributing to more than two-fifths of the global autonomous forklift market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the LAMEA region is expected to manifest the fastest CAGR of 15.0% during the forecast period. The research also analyzes regions including North America and Europe.

Leading market players of the global autonomous forklift market analyzed in the research include Mitsubishi Logisnext Co., Ltd., Toyota Industries Corporation, Jungheinrich AG, BALYO, KION GROUP AG, Oceaneering International, Inc., AGILOX Services GmbH, Swisslog Holding AG, Hyster-Yale Materials Handling, Inc., Hyundai Construction Equipment Co., Ltd.

The report provides a detailed analysis of these key players of the global autonomous forklift market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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David Correa
Allied Analytics LLP
1 800-792-5285
email us here

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