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Autonomous Forklift: Introduction

  • Autonomous forklift, also known as self-driving forklift, can be utilized for transport of material from one place to another. It also eliminates the need for human presence in warehouse work. These forklifts are capable of independently maneuvering in the barns, carrying heavy loads, and loading-unloading them without human intervention.
  • Autonomous forklifts ensure that the right part is always in the right place at the right time. Furthermore, they boost productivity in the warehouse and reduce the risk of accidents in industries.

Key Drivers of Global Autonomous Forklift Market:

  • Investment in infrastructure development and rapid industrialization coupled with expansion of the construction and transportation industries in developing countries are anticipated to boost the demand for material handling equipment such as forklift during the forecast period
  • Autonomous forklifts are being extensively utilized in various end-use industries such as transportations and logistics, manufacturing, paper, and wood. This is major factor that is expected to drive the global autonomous forklift market.
  • Rise in automation in various end-use industries has prompted manufacturers to focus on increasing operational efficiency. Forklifts help reduce injuries to staff, damage to goods and infrastructure, and improve transport quality. These factors also drive the autonomous forklift market across the globe.
  • Rapid expansion of the e-commerce sector along with rapid adoption of autonomous forklifts among suppliers and distributors in order to boost productivity is another factor that propels the autonomous forklift market. Distributors are focused on enhancing productivity due to rising competition and increasingly fragmented goods flows. Autonomous forklifts tend to work as a skilled workforce and critical work can be accomplished with high reliability and without human intervention.

Autonomous Forklift Market to Offer Attractive Opportunities:

  • The company expansion aids in improving the production capacity of the product. Additionally, with expansion of firms, the revenue and profits also increase, which, in turn, could catalyze the innovation of the products. Besides, expansion provides opportunities to attracts new customers and retain old ones. In 2019, Geek plus robotics looks to expands into forklift for heavy industry. Moreover, the company is focusing on deliver solutions to steelmaking, construction, and other operations where the loads are big and heavy. This factors are likely to boost the growth of autonomous forklift market across the globe.

Higher Initial Investment and Availability of Rental Services to Hamper Market

  • High initial investment and availability of rental services are expected to hamper the global market. Availability of rental services is a major advantage for manufactures, as it lowers the ownership of products. Additionally, unavailability of required infrastructure in developing countries in order to support the movement of advanced products is another factor that is estimated to restrain the autonomous forklift market across the globe.

Asia Pacific to Hold Significant Share of Global Autonomous Forklift Market:

  • The autonomous forklift market in Asia Pacific is estimated to expand at a rapid pace during the forecast period, followed by North America and Europe. This expansion of the market in Asia Pacific can be attributed to the high rate of adoption of autonomous forklifts in countries, such as China, which produced maximum number of vehicles across the globe.
  • Development of infrastructure and rapid industrialization coupled with expansion of construction and transportation industries are likely to boost the autonomous forklift market in India and consequently, propel the autonomous forklift market in Asia Pacific.

Key Players Operating in Global Market:

The global autonomous forklift market is highly fragmented with top manufacturers across the global market. A few of the key players operating and potential in the global autonomous forklift market are:

  • Hyster-Yale Material Handling Inc.
  • Toyota Industries Corporation
  • Komatsu Ltd.
  • Mitsubishi Logisnext Co.Ltd.
  • Crown Equipment Corporation
  • Anhui Heli Co., Ltd.
  • Combilift Material Handling Solutions
  • Hangcha Group Co. Ltd.
  • Manitou Group
  • Lonking Machinery Co. Ltd.
  • Jungheinrich AG
  • Linde Material Handling

Global Autonomous Forklift Market: Research Scope

Global Autonomous Forklift Market, by Level of Automation

  • L1
  • L2
  • L3
  • Others

Global Autonomous Forklift Market, by Tonnage Type

  • Below 5 tons
  • 5 – 10 tons
  • More than 5 tons

Global Autonomous Forklift Market, by Class

  • Class 1 (Rider Forklifts)
  • Class 2 (Narrow Aisle Forklifts)
  • Class 3 (Hand Forklifts)
  • Class 4 (Indoor Use Forklift)
  • Class 5 (Internal Combustion Outdoor Forklift)
  • Class 6 (Tow Forklift)
  • Class 7 (Rough Terrain & Aerial Forklift)

Global Autonomous Forklift Market, by Application

  • Manufacturing
  • Warehousing
  • Freight
  • Logistics
  • Others

Global Autonomous Forklift Market, by Sales Channel

  • In-House Purchase
  • Leasing

Global Autonomous Forklift Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Autonomous Forklift Market

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