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Global Automated Forklift Trucks Market: By Type: Pallet Mover, Counterbalance, Outrigger, Reach Truck; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Industry Events and Developments
Global Automated Forklift Trucks Market Outlook
The global automated forklift trucks market is expected to grow at a CAGR of 7.9% during the period 2023-2028. Technological advancements and benefits afforded by automated forklift trucks, including increased handling volume, decreased accidents and errors, and reduced wastage are expected to boost the market. North America, Europe and Asia are expected to be key markets.
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Global Market Likely to be Driven by Need for Automation of Warehousing and Distribution Operations
Companies seek to offer technologies, systems, and solutions to enhance the performance and efficiency of day-to-day warehouse and distribution operations. Automated forklift trucks are an example of such solutions that enable smooth and efficient operations without human intervention and risk of damage.
Automated forklift trucks gaining much importance in manufacturing locations and warehouses where processes are greatly standardized, repetitive, and may be readily accomplished without human intervention. Automated forklift trucks can carryout horizontal as well as vertical movements of the load. These machines also have the capability to be set up to pile up loads in racks; automated forklift trucks are extensively employed in warehouses for high rack management. The growing importance of automated forklift trucks in warehouse processes is expected to boost the global automated forklift trucks market.
Main types of automated forklift trucks include:
Automated Pallet Mover – It is a kind of robotic forklift designed to move palletized contents in manufacturing facilities. The application permits restricted vertical load movement, reaching pallets on shelves or racks at lower heights or in floor-to-floor processes. The moving capacity of an automated pallet mover may range from a few quintals to multiple tonnes.
Counterbalanced Automatic Guided Forklift – This machine counterbalances the load weight with a weight at the back of the truck; the balancing weight is generally cast iron or battery. Although these machines are larger and have a bigger turning radius, counterbalanced automatic guided forklifts are capable of handling heavy loads and reaching higher stacking heights.
Straddle Forklift Automated Guided Vehicles (AGVs) – Also known as outrigger AGVs, these machines carry two horizontal stabilizing legs, located out of the load breadth. Straddle forklift AGVs need less manoeuvring space as compared to counterbalanced automatic guided forklift. Support legs lend more support and stability to the machine.
Very Narrow Aisle (VNA) Automated Guided Vehicles – These machines are very efficient in carrying out transportation tasks in large and high warehouses. However, these are very expensive.
AGV Reach truck – These are robot forklifts devised to function in narrow aisle warehouse spaces. Two outer legs help distribute load weight.
Efficiencies Afforded by Automated Forklift Trucks Expected to Contribute to Market Growth
Advantages such as more flexibility in operations, better safety, enhanced productivity, decreased cost, and integration with warehouse management systems to accomplish greater efficiencies are expected to drive the market.
Being Scalable, and the Ability to Fulfil Labour Gaps and Reduce Labour Related Costs Likely to Contribute to Market Growth
Automated forklift trucks offer solutions to labour related problems such as unavailability of skilled workers, labour absenteeism and turnover, inconsistency in performance, and cost of hiring new workers. Further, automated forklift trucks are flexible, scalable and dependable. These advantages offered are expected to contribute to the growth of the global automated forklift trucks market.
Market Segmentation
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By type, the market is segmented into:
- Pallet Mover
- Counterbalance
- Outrigger
- Reach Truck
By region, the market is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Industry Players in the Global Automated Forklift Trucks Market
The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Toyota Industries Corporation
- Mitsubishi Caterpillar Forklift America Inc.
- Crown Equipment Corporation
- Seegrid Corporation
- Kollmorgen
- Kion Group AG
- Hyster-Yale Materials Handling, Inc.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Automated Forklift Trucks Market Analysis
8.1 Key Industry Highlights
8.2 Global Automated Forklift Trucks Historical Market (2018-2022)
8.3 Global Automated Forklift Trucks Market Forecast (2023-2028)
8.4 Global Automated Forklift Trucks Market by Type
8.4.1 Pallet Mover
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Counterbalance
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Outrigger
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Reach Truck
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.5 Global Automated Forklift Trucks Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Automated Forklift Trucks Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Automated Forklift Trucks Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Automated Forklift Trucks Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Automated Forklift Trucks Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Automated Forklift Trucks Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Toyota Industries Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Mitsubishi Caterpillar Forklift America Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Crown Equipment Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Seegrid Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Kollmorgen
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Kion Group AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Hyster-Yale Materials Handling, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Figures and Tables
1. Global Automated Forklift Trucks Market: Key Industry Highlights, 2018 and 2028
2. Global Automated Forklift Trucks Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Automated Forklift Trucks Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Automated Forklift Trucks Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global Automated Forklift Trucks Market Forecast: Breakup by Region (USD Million), 2023-2028
6. North America Automated Forklift Trucks Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America Automated Forklift Trucks Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Europe Automated Forklift Trucks Historical Market: Breakup by Country (USD Million), 2018-2022
9. Europe Automated Forklift Trucks Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Asia Pacific Automated Forklift Trucks Historical Market: Breakup by Country (USD Million), 2018-2022
11. Asia Pacific Automated Forklift Trucks Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America Automated Forklift Trucks Historical Market: Breakup by Country (USD Million), 2018-2022
13. Latin America Automated Forklift Trucks Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Middle East and Africa Automated Forklift Trucks Historical Market: Breakup by Country (USD Million), 2018-2022
15. Middle East and Africa Automated Forklift Trucks Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Global Automated Forklift Trucks Market Structure
Key Questions Answered in the Report
The global automated forklift trucks market is projected to grow at a CAGR of 7.9% between 2023 and 2028.
The major drivers of the market include the rising adoption in various applications in industries, such as distribution, warehouse, and manufacturing, presence of a well-established manufacturing industry, development and installation of state-of-the-art technologies, and the need for automation of warehousing and distribution operations.
Technological advancements and benefits afforded by automated forklift trucks, including increased handling volume, decreased accidents and errors, and reduced wastage are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different types include pallet mover, counterbalance, outrigger, and reach truck.
The major players in the industry are Toyota Industries Corporation, Mitsubishi Caterpillar Forklift America Inc., Crown Equipment Corporation, Seegrid Corporation, Kollmorgen, Kion Group AG, and Hyster-Yale Materials Handling, Inc., among others.
Analyst Review
The global automated forklift trucks market was driven by the benefits afforded by automated forklift trucks, including increased handling volume, decreased accidents and errors, and reduced wastage in the historical period. Aided by the presence of well-established manufacturing industry and the development and installation of state-of-the-art technologies, the market is expected to witness further growth in the forecast period of 2023-2028, growing at a CAGR of 7.9%.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The different types include pallet mover, counterbalance, outrigger, and reach truck. The major regional markets for automated forklift trucks market are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry are Toyota Industries Corporation, Mitsubishi Caterpillar Forklift America Inc., Crown Equipment Corporation, Seegrid Corporation, Kollmorgen, Kion Group AG, and Hyster-Yale Materials Handling, Inc., among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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