What is Automated Forklift Market?
The global automated forklift market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The growing transportation & logistics sector and the growing emand for automation across different industry verticals is driving the demand for automated forklifts market globally.
Highlights from Automated Forklift Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | AB Volvo (Sweden), Anhui Heli Co., Ltd. (China) , BALYO (France), BHS Intralogistics GmbH (Germany), CLARK (United States), Doosan Corporation (South Korea), Godrej (India), KION GROUP AG (Germany), Komatsu America Corp. (United States), Mitsubishi Logisnext Europe B.V. (Netherlands), Toyota Material Handling (United States) and ZF Friedrichshafen AG (Germany) |
The vendors in this market are majorly focusing on development and innovative forklift products to cater to market's demand to remain competitive in the global market. The global market is experiencing higher adoption of driverless forklifts due to growing automation across different industries. Research Analyst at AMA predicts that United States, Germany Manufacturers will contribute to the maximum growth of Global Automated Forklift market throughout the forecasted period.
AB Volvo (Sweden), Anhui Heli Co., Ltd. (China) , BALYO (France), BHS Intralogistics GmbH (Germany), CLARK (United States), Doosan Corporation (South Korea), Godrej (India), KION GROUP AG (Germany), Komatsu America Corp. (United States), Mitsubishi Logisnext Europe B.V. (Netherlands), Toyota Material Handling (United States) and ZF Friedrichshafen AG (Germany) are some of the key players profiled in the study. Automated Forklift Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Logistics & Freight, Warehousing, Material Handling, Manufacturing and Others |
Type | Semi-Automatic and Fully-Automatic |
Technology | Fuel Powered,Electric Powered |
Industry Verticals | Transportation & Logistics,Retail & E-commerce,Manufacturing,Others |
Loading Capacity | <5 Tons,5-10 Tons,>10 Tons |
Component | Hardware,Software,Services |
Level of Automation | L1,L2,L3,L4,L5 |
On the basis of geography, the market of Automated Forklift has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Driver-less Forklifts is One of the Major Trends for the Market
Market Growth Drivers:
The Growing Transportation & Logistics Sector and Growing Demand for Automation Across Different End Use Industries
Challenges:
The Outbreak of COVID-19 is Expected to Decrease the Growth of the Market Due to Shutting Down of Different Productions Across the World which will Impact the Market for the Next Few Years
Restraints:
Requirement Periodic Maintenance of Forklifts
Opportunities:
Industry 4.0 will Create Huge Opportunities for Market Vendors During the Forecast Period
Market Leaders & Development Strategies
In February 2018, ZF announced that it has launched a joint venture with Anhui Heli Co to enter Chinese forklift market.
In March 2022, Third Wave Automation (TWA), the most versatile and effective provider of autonomous solutions for the material handling industry, and CLARK Material Handling Company, the world's top 10 forklift and aftermarket parts manufacturer, partner to launch a new, automated Spring 2023 "TWA Reach", a reach truck. Showcased at CLARK booth #C6285 at MODEX 2022, the TWA Reach builds on the capabilities of the NPX reach truck with TWA automation technology and intelligent fleet management capabilities.