Global Autonomous Forklift Trucks Market Projected to Grow At a CAGR of 11.5% During the Forecast Period

The latest market report published by Credence Research, Inc. “Autonomous Forklift Trucks Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the forklift trucks market is expected to grow at a CAGR of 11.5% during the forecast period from 2019 to 2027.

Market Insights

Worldwide adoption of artificial intelligence (AI) will boost the market demand

The autonomous forklift trucks market is primarily driven by the adoption of artificial intelligence (AI) in the material handling equipment market worldwide. Rapid technological advancements in transportation and construction industry will also the market growth. In the coming years, Asia Pacific will lead the autonomous forklift trucks market.

The growing use of the Internet of Things (IoT) for infrastructure development and in autonomous vehicles will bolster the growth for the autonomous forklift market. The use of autonomous forklifts will increase in years to come, due to their benefits over other forklifts such as more efficiency, decreased human need, productivity enhancement, faster and others.

Autonomous Forklift Trucks Market

Mergers & acquisitions and new product launches will be the key strategy for major market players. Rapid technological innovations (such as IoT, artificial intelligence, etc.) will be the major trend in the autonomous forklift truck industry.

Industrial Developments

• In October 2019, Teradyne, Inc. leading supplier and developer for automatic equipment announced to acquire autonomous forklift trucks vendor AutoGuide Mobile Robots. This acquisition will help Teradyne, Inc. to enter into the forklift trucks industry.

Key Market Movements:

• The global autonomous forklift trucks market is growing at a CAGR of 11.5% for the projected period from 2019 to 2027

• The Asia Pacific expected to register the fastest growth in the autonomous forklift trucks market on account of developing the transport industry and rising manufacturing industry in the region. China and India will be the major contributors owing to the growing adoption of ‘Industrial Revolution 4.0’.

• The Asia Pacific will show the fastest growth owing to growing technological advancements in Asia Pacific industries such as logistics, mining, construction, and others.

• A growing number of product launches, mergers & acquisitions, and rising investments for industrial development in emerging nations such as India, China, Indonesia, etc. will drive the overall demand.

List of Companies Covered:

• Hyundai Heavy Industries

• Jungheinrich AG

• Linde Material Handling

• Hyster Company

• Teradyne Inc.

• Hangcha Group Co., Ltd.

• Toyota Industries Corporation

• Hyster-Yale Materials Handling Inc.

• Doosan Industrial Vehicle

• Komatsu Ltd.

• OTTO Motors

The Global Autonomous Forklift Trucks Market is Segmented into:

Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion
Segmentation  Product Type (2017–2027; US$ Bn)
 Engine Type (2017–2027; US$ Bn)
 End-user (2017–2027; US$ Bn)
 Vehicle Class (2017–2027; US$ Bn)
 Automation Level (2017–2027; US$ Bn)
 Geography Segment (2017–2027; US$ Mn)

*Complete segmentation list is on report page

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