Global Autonomous Forklifts Market was Estimated to be US$ 6,576.60 Mn in 2018 and is Expected to Reach US$ 12,158.10 Mn by 2027 Growing at a CAGR of 7.14% Over the Forecast Period Owing to Growing Need Among Industries to Automate Logistics Operations, Says Absolute Markets Insights

PUNE, India, Feb. 11, 2020 /PRNewswire/ -- Supply chain operations in an organization has undergone tremendous changes over the last few decades. From a solely operational logistics function that ensured supply to the production lines and delivered to customers now has become an independent supply-chain management function. Furthermore, e-commerce is reforming the entire logistics industry. The eCommerce industry has changed the way business is transacted, whether in B2B or retail, locally or globally. The advanced technologies heavily adopted by organizations, is augmenting machine's presence in warehouses, thereby empowering their logistic services. E-commerce and retail giants are heavily investing towards efficient and economical management of their logistics operations. For instance, Amazon operates through robots in its warehouses, which helps the e-commerce giant with a flexible and smooth flow of its supply chain. The emergence of forklifts integrated with artificial intelligence is further driving the eCommerce industry towards the adoption of autonomous forklifts. For instance, GEEK+ INC., an advanced robotics and AI technologies provider, offers with driverless forklift along with supply chain automation solutions that is built on AI. These autonomous forklifts are being heavily adopted by the ecommerce industry, since it provides flexible, reliable and highly efficient solutions to warehouses, factories and supply chain management. Thereby contributing towards the growth of global autonomous forklifts market.

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The companies are focusing on deploying automated guided vehicles into their warehouse to support tasks such as packing, palletizing and transporting goods. For instance, E-Commerce is a dynamic market where, hiring robots provides an affordable way to robotize the warehouse operations, with easy and low-cost deployment without substantial infrastructure investment.  Simultaneously, penetration of autonomous forklifts is also being witnessed across various verticals including pharmaceutical, chemical, manufacturing, automotive, paper & print, and food & beverage with an aim to match up the industry 4.0 revolution. For instance, ILIAD, an EU-funded research project on intra-logistics with integrated automatic deployment for safe and scalable fleets in shared spaces, is working on the development of autonomous forklift trucks. In addition, Hyundai Construction Equipment (HCE) is proactively engaged in developing smart solutions for logistics businesses. HCE has developed a self-driving forklift that determines optimal routes and can be controlled remotely using a routing control system. It also has an onboard vehicle control system coupled with 2D safety laser scanners helping to perceive the surroundings of the forklifts and detect obstacles. These machineries are being largely adopted by manufacturing industry helping them to reduce product damage and eliminate physical efforts. The increasing operational efficiency coupled with automated and unmanned solutions for logistics processes is anticipated to proliferate the demand in the global autonomous forklifts market over the forecast period.

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The detailed research study provides qualitative and quantitative analysis of autonomous forklifts market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

• In terms of revenue, global autonomous forklifts market is expected to reach US$ 6,576.60 Mn by 2027 owing to growing need for automated warehousing management system.
• On the basis of technology, Vision Guided (3D) segment is expected to witness highest CAGR over the forecast period.
• On the basis of region, the Asia Pacific is expected to register the robust growth in the autonomous forklift trucks market with the rise in manufacturing and transportation industry in this region.
• Some of the players operating in the global autonomous forklifts market are AB Volvo, Anhui Heli Co., Ltd. , BALYO, Crown Equipment Corporation, Dematic, Doosan Industrial Vehicle America Corp, Gen Surv Robotics, Godrej Material Handling , Hyundai Construction Equipment Co., Ltd., Jungheinrich AG, Kollmorgen, Linde Material Handling, Mitsubishi Caterpillar Forklift America Inc., Nichiyu Forklift, Northland Industrial Truck Company, Inc. ,Scott, Seegrid Corporation, Swisslog Holding AG, TOYOTA INDUSTRIES CORPORATION, UniCarriers Americas Corporation, among others.

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Global Autonomous Forklifts Market:

• By Type
• Indoor
• Outdoor
• By Fuel Source
• Electric
• CNG
• Petrol and Diesel
• Fuel Cells
• By Technology
• Line Guided
• Laser Guided
• Vision Guided (3D)
• Others
• By Industry
• Pharmaceutical
• Chemical
• Manufacturing
• Automotive
• Paper and Print
• Food and Beverage
• Others
• By Truck Type
• Side Loader
• Counterbalance Forklift
• Telehandler
• Rough Terrain Forklift
• Pallet Jack
• Walkie Stacker
• Order Picker
• Reach Fork Truck
• Others
• By Channel
• OEM
• Aftermarket
• By Capacity
• Less than 1000
• 1000-2000
• 2000-5000
• Above 5000
• By Region
• North America
• U.S
• Canada
• Mexico
• Rest of North America
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia Pacific
• Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America 

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SOURCE Absolute Markets Insights