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Autonomous Forklift Trucks Market By Product Type (Reach Forklift Truck, Counterbalance Forklift Truck, Others), By Engine Type (Electric, Diesel, Gasoline & LPG/CNG), By End-user (Manufacturing, Logistics, Food Industry, Wholesale & Retail, Mining & Construction, Others), By Vehicle Class (Class I, Class II, Class III, Class IV, Class V), By Automation Level (Level 1, Level 2, Level 3, Others) – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027

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Rising demand for autonomous material handling equipment will boost the market

The global autonomous forklift trucks market is rising competently, probable to grow at a CAGR of 11.5% during the estimated period from 2019 to 2027.

Growing demand for forklift trucks in various industries such as logistics, construction, infrastructural development, warehouse, and others will shortly drive the demand for autonomous forklift trucks. In addition, the development of technologically advanced products for increasing the efficiency of material handling equipment will boost the market demand. For instance, in April 2019, Hyundai Heavy Industries introduced its new autonomous forklift truck. The driverless forklift truck can determine optimal routes and can be remotely controlled.

Market Synopsis

The growing penetration of the e-commerce industry will drive the market growth

The rising retail industry globally and increasing penetration of e-commerce worldwide will be the major reasons for the fastest growth of the segment. As a result, the retail industry worldwide is expected to grow with a CAGR of around 5.5% during the forecast period. In addition, rapid technological advancements in the retail industry, such as virtual reality, Q.R. codes, artificial intelligence (A.I.), and others, are also boosting the retail industry.

In the retail industry, the use of autonomous forklift trucks has increased due to its benefits over general forklift trucks, including ensure lower costs, efficiency increase, prevention of safety issues, fast & efficient shifting, and others. In addition, the aforementioned benefits of autonomous forklift trucks will also help segment growth.

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Regional Analysis

Rising industries in the emerging economies will boost the demand in the Asia Pacific

In the global autonomous forklift trucks market, Asia Pacific will emerge as the fastest-growing region in years to come. The Asia Pacific will be the fastest-growing region due to rapid advancement in technology and the presence of major autonomous forklift manufacturers such as Hyundai Heavy Industries, Toyota Industries Corporation, and others. In addition, rising government investments in emerging economies such as India will also give a boost to the segment. For instance, on 1st December 2019, the government announced to invest the U.S. $ 1.39 Tn over the next five years for infrastructural development in the country.

Increased mergers & acquisitions and new product development by market players will boost the market. 

Major market players are focusing on new product developments and mergers & acquisitions to increase their market presence globally.

List of Companies Covered:

  • Hyundai Heavy Industries
  • Junghein rich 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

Key Industry Development:

In September 2018, OTTO Motors launched a new self-driving forklift truck OTTO OMEGA. The forklift truck specializes in autonomous as well as semi-autonomous work. OTTO OMEGA is fully equipped with artificial intelligence (A.I.) and will do new jobs with every software update.

Historical & Forecast Period

This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

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Segmentation Product Type (2017–2027; US$ Bn)

  • Reach Forklift Truck
  • Counterbalance Forklift Truck
  • Others (Rough Terrain, Side Loader, Telescopic Handler, etc.)

Engine Type (2017–2027; US$ Bn)

  • Electric
  • Diesel
  • Gasoline & LPG/CNG

End-user (2017–2027; US$ Bn)

  • Manufacturing
  • Logistics
  • Food Industry
  • Wholesale & Retail
  • Mining & Construction
  • Others (Agriculture, Natural Resources, etc.)

Vehicle Class (2017–2027; US$ Bn)

  • Class I
  • Class II
  • Class III
  • Class IV
  • Class V

Automation Level (2017–2027; US$ Bn)

  • Level 1
  • Level 2
  • Level 3
  • Others (Level 4, Level 5, etc.)

Geography Segment (2017–2027; US$ Mn)

  • North America (U.S. and Rest of North America)
  • Europe (U.K., Germany, France, and Rest of Europe)
  • Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the overall autonomous forklift trucks market better. The global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Autonomous Forklift Trucks (AFT) Market
2.2. Global AFT Market, by Product Type, 2018 (US$ Bn)
2.3. Global AFT Market, by Engine Type, 2018 (US$ Bn)
2.4. Global AFT Market, by End-user, 2018 (US$ Bn)
2.5. Global AFT Market, by Vehicle Class, 2018 (US$ Bn)
2.6. Global AFT Market, by Automation Level, 2018 (US$ Bn)
2.7. Global AFT Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global AFT Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Autonomous Forklift Trucks (AFT) Market, by Product Type , 2017-2027 (US$ Bn)
4.1. Overview
4.2. Reach Forklift Truck
4.3. Counterbalance Forklift Truck
4.4. Others (Rough Terrain, Side Loader, Telescopic Handler, etc.)

5. Global Autonomous Forklift Trucks (AFT) Market, by Engine Type, 2017-2027 (US$ Bn)
5.1. Overview
5.2. Electric
5.3. Diesel
5.4. Gasoline & LPG/CNG

6. Global Autonomous Forklift Trucks (AFT) Market, by End-user, 2017-2027 (US$ Bn)
6.1. Overview
6.2. Manufacturing
6.3. Logistics
6.4. Food Industry
6.5. Wholesale & Retail
6.6. Mining & Construction
6.7. Others (Agriculture, Natural Resources, etc.)

7. Global Autonomous Forklift Trucks (AFT) Market, by Vehicle Class , 2017-2027 (US$ Bn)
7.1. Overview
7.2. Class I
7.3. Class II
7.4. Class III
7.5. Class IV
7.6. Class V

8. Global Autonomous Forklift Trucks (AFT) Market, by Automation Level, 2017-2027 (US$ Bn)
8.1. Overview
8.2. Level 1
8.3. Level 2
8.4. Level 3
8.5. Others (Level 4, Level 5, etc.)

9. North America Autonomous Forklift Trucks (AFT) Market Analysis, 2017-2027 (US$ Bn)
9.1. Overview
9.1.1. North America AFT Market Value and Growth, 2017-2027, (US$ Bn)
9.2. North America AFT Market Value, By Product Type, 2017-2027 (US$ Bn)
9.2.1. Market Analysis
9.3. North America AFT Market Value, By Engine Type, 2017-2027 (US$ Bn)
9.3.1. Market Analysis
9.4. North America AFT Market Value, By End-user, 2017-2027 (US$ Bn)
9.4.1. Market Analysis
9.5. North America AFT Market Value, By Vehicle Class, 2017-2027 (US$ Bn)
9.5.1. Market Analysis
9.6. North America AFT Market Value, By Automation Level, 2017-2027 (US$ Bn)
9.6.1. Market Analysis
9.7. North America AFT Market Value, By Region/Country, 2017-2027 (US$ Bn)
9.7.1. Market Analysis
9.7.2. U.S.
9.7.3. Rest of North America

10. Europe Autonomous Forklift Trucks (AFT) Market Analysis, 2017-2027 (US$ Bn)
10.1. Overview
10.1.1. Europe AFT Market Value and Growth, 2017-2027, (US$ Bn)
10.2. Europe AFT Market Value, By Product Type, 2017-2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Europe AFT Market Value, By Engine Type, 2017-2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Europe AFT Market Value, By End-user, 2017-2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Europe AFT Market Value, By Vehicle Class, 2017-2027 (US$ Bn)
10.5.1. Market Analysis
10.6. Europe AFT Market Value, By Automation Level, 2017-2027 (US$ Bn)
10.6.1. Market Analysis
10.7. Europe AFT Market Value, By Region/Country, 2017-2027 (US$ Bn)
10.7.1. Market Analysis
10.7.2. U.K.
10.7.3. Germany
10.7.4. France
10.7.5. Rest of Europe

11. Asia Pacific Autonomous Forklift Trucks (AFT) Market Analysis, 2017-2027 (US$ Bn)
11.1. Overview
11.1.1. Asia Pacific AFT Market Value and Growth, 2017-2027, (US$ Bn)
11.2. Asia Pacific AFT Market Value, By Product Type, 2017-2027 (US$ Bn)
11.2.1. Market Analysis
11.3. Asia Pacific AFT Market Value, By Engine Type, 2017-2027 (US$ Bn)
11.3.1. Market Analysis
11.4. Asia Pacific AFT Market Value, By End-user, 2017-2027 (US$ Bn)
11.4.1. Market Analysis
11.5. Asia Pacific AFT Market Value, By Vehicle Class, 2017-2027 (US$ Bn)
11.5.1. Market Analysis
11.6. Asia Pacific AFT Market Value, By Automation Level, 2017-2027 (US$ Bn)
11.6.1. Market Analysis
11.7. Asia Pacific AFT Market Value, By Region/Country, 2017-2027 (US$ Bn)
11.7.1. Market Analysis
11.7.2. Japan
11.7.3. China
11.7.4. India
11.7.5. Rest of Asia Pacific

12. Rest of the World Autonomous Forklift Trucks (AFT) Market Analysis, 2017-2027 (US$ Bn)
12.1. Overview
12.1.1. Rest of the World AFT Market Value and Growth, 2017-2027, (US$ Bn)
12.2. Rest of the World AFT Market Value, By Product Type, 2017-2027 (US$ Bn)
12.2.1. Market Analysis
12.3. Rest of the World AFT Market Value, By Engine Type, 2017-2027 (US$ Bn)
12.3.1. Market Analysis
12.4. Rest of the World AFT Market Value, By End-user, 2017-2027 (US$ Bn)
12.4.1. Market Analysis
12.5. Rest of World AFT Market Value, By Vehicle Class, 2017-2027 (US$ Bn)
12.5.1. Market Analysis
12.6. Rest of World AFT Market Value, By Automation Level, 2017-2027 (US$ Bn)
12.6.1. Market Analysis
12.7. Rest of the World AFT Market Value, By Region, 2017-2027 (US$ Bn)
12.7.1. Market Analysis
12.7.2. Middle East & Africa
12.7.3. Latin America

13. Company Profiles
13.1. Hyundai Heavy Industries
13.2. Jungheinrich AG
13.3. Linde Material Handling
13.4. Hyster Company
13.5. Teradyne Inc.
13.6. Hangcha Group Co., Ltd.
13.7. Toyota Industries Corporation
13.8. Hyster-Yale Materials Handling Inc.
13.9. Doosan Industrial Vehicle
13.10. Komatsu Ltd.
13.11. OTTO Motors

 

List of Figures

FIG. 1 Global Autonomous Forklift Trucks (AFT) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global AFT Market Segmentation
FIG. 4 Global AFT Market, by Product Type, 2018 (US$ Bn)
FIG. 5 Global AFT Market, by Engine Type, 2018 (US$ Bn)
FIG. 6 Global AFT Market, by End-user, 2018 (US$ Bn)
FIG. 7 Global AFT Market, by Vehicle Class, 2018 (US$ Bn)
FIG. 8 Global AFT Market, by Automation Level, 2018 (US$ Bn)
FIG. 9 Global AFT Market, by Geography, 2018 (US$ Bn)
FIG. 10 Attractive Investment Proposition, by Geography, 2018
FIG. 11 Global Market Positioning of Key AFT Market Manufacturers, 2018
FIG. 12 Global AFT Market Value Contribution, By Product Type, 2018 & 2027 (Value %)
FIG. 13 Global AFT Market, by Reach Forklift Truck, Value, 2017–2027 (US$ Bn)
FIG. 14 Global AFT Market, by Counterbalance Forklift Truck, Value, 2017–2027 (US$ Bn)
FIG. 15 Global AFT Market, by Others (Rough Terrain, Side Loader, Telescopic Handler, etc.), Value, 2017–2027 (US$ Bn)
FIG. 16 Global AFT Market Value Contribution, By Engine Type, 2018 & 2027 (Value %)
FIG. 17 Global AFT Market, by Electric, 2017–2027 (US$ Bn)
FIG. 18 Global AFT Market, by Diesel, Value, 2017–2027 (US$ Bn)
FIG. 19 Global AFT Market, by Gasoline & LPG/CNG, Value, 2017–2027 (US$ Bn)
FIG. 20 Global AFT Market Value Contribution, By End-user, 2018 & 2027 (Value %)
FIG. 21 Global AFT Market, by Manufacturing, Value, 2017–2027 (US$ Bn)
FIG. 22 Global AFT Market, by Logistics, Value, 2017–2027 (US$ Bn)
FIG. 23 Global AFT Market, by Food Industry, 2017–2027 (US$ Bn)
FIG. 24 Global AFT Market, by Wholesale & Retail, Value, 2017–2027 (US$ Bn)
FIG. 25 Global AFT Market, by Mining & Construction, 2017–2027 (US$ Bn)
FIG. 26 Global AFT Market, by Others (Agriculture, Natural Resources, etc.), Value, 2017–2027 (US$ Bn)
FIG. 27 Global AFT Market Value Contribution, By Vehicle Class, 2018 & 2027 (Value %)
FIG. 28 Global AFT Market, by Class I, Value, 2017–2027 (US$ Bn)
FIG. 29 Global AFT Market, by Class II, Value, 2017–2027 (US$ Bn)
FIG. 30 Global AFT Market, by Class III, 2017–2027 (US$ Bn)
FIG. 31 Global AFT Market, by Class IV, Value, 2017–2027 (US$ Bn)
FIG. 32 Global AFT Market, by Class V, Value, 2017–2027 (US$ Bn)
FIG. 33 Global AFT Market Value Contribution, By Automation Level, 2018 & 2027 (Value %)
FIG. 34 Global AFT Market, by Level 1, Value, 2017–2027 (US$ Bn)
FIG. 35 Global AFT Market, by Level 2, Value, 2017–2027 (US$ Bn)
FIG. 36 Global AFT Market, by Level 3, 2017–2027 (US$ Bn)
FIG. 37 Global AFT Market, by Others (Level 4, Level 5, etc.), Value, 2017–2027 (US$ Bn)
FIG. 38 U.S. AFT Market, 2017–2027 (US$ Bn)
FIG. 39 Canada AFT Market, 2017–2027 (US$ Bn)
FIG. 40 U.K. AFT Market, 2017–2027 (US$ Bn)
FIG. 41 Germany AFT Market, 2017–2027 (US$ Bn)
FIG. 42 France AFT Market, 2017–2027 (US$ Bn)
FIG. 43 Italy AFT Market, 2017–2027 (US$ Bn)
FIG. 44 Rest of Europe AFT Market, 2017–2027 (US$ Bn)
FIG. 45 Japan AFT Market, 2017–2027 (US$ Bn)
FIG. 46 China AFT Market, 2017–2027 (US$ Bn)
FIG. 47 India AFT Market, 2017–2027 (US$ Bn)
FIG. 48 Rest of Asia Pacific AFT Market, 2017–2027 (US$ Bn)
FIG. 49 Middle East & Africa AFT Market, 2017–2027 (US$ Bn)
FIG. 50 Latin America AFT Market, 2017–2027 (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Autonomous Forklift Trucks (AFT) Market
TABLE 2 Global AFT Market, by Product Type, 2017–2027 (US$ Bn)
TABLE 3 Global AFT Market, by Engine Type, 2017–2027 (US$ Bn)
TABLE 4 Global AFT Market, by End-user, 2017–2027 (US$ Bn)
TABLE 5 Global AFT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 6 Global AFT Market, by Automation Level, 2017–2027 (US$ Bn)
TABLE 7 Global AFT Market, by Geography, 2017–2027 (US$ Bn)
TABLE 8 North America AFT Market, by Product Type, 2017–2027 (US$ Bn)
TABLE 9 North America AFT Market, by Engine Type, 2017–2027 (US$ Bn)
TABLE 10 North America AFT Market, by End-user, 2017–2027 (US$ Bn)
TABLE 11 North America AFT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 12 North America AFT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 13 North America AFT Market, by Country, 2017–2027 (US$ Bn)
TABLE 14 Europe AFT Market, by Product Type, 2017–2027 (US$ Bn)
TABLE 15 Europe AFT Market, by Engine Type, 2017–2027 (US$ Bn)
TABLE 16 Europe AFT Market, by End-user, 2017–2027 (US$ Bn)
TABLE 17 Europe AFT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 18 Europe AFT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 19 Europe AFT Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 20 Asia Pacific AFT Market, by Product Type, 2017–2027 (US$ Bn)
TABLE 21 Asia Pacific AFT Market, by Engine Type, 2017–2027 (US$ Bn)
TABLE 22 Asia Pacific AFT Market, by End-user, 2017–2027 (US$ Bn)
TABLE 23 Asia Pacific AFT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 24 Asia Pacific AFT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 25 Asia Pacific AFT Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 26 RoW AFT Market, by Product Type, 2017–2027 (US$ Bn)
TABLE 27 RoW AFT Market, by Engine Type, 2017–2027 (US$ Bn)
TABLE 28 RoW AFT Market, by End-user, 2017–2027 (US$ Bn)
TABLE 29 RoW AFT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 30 RoW AFT Market, by Automation Level, 2017–2027 (US$ Bn)
TABLE 31 RoW AFT Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 32 Hyundai Heavy Industries: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 33 Jungheinrich AG: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 34 Linde Material Handling: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 35 Hyster Company: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 36 Teradyne, Inc..: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 37 Hangcha Group Co., Ltd.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 38 Toyota Industries Corporation: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 39 Hyster-Yale Materials Handling, Inc.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 40 Doosan Industrial Vehicle: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 41 Komatsu Ltd.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 42 OTTO Motors: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

Frequently Asked Questions: 

What is the size of Autonomous Forklift Trucks Market?

The market for Autonomous Forklift Trucks is expected to reach US$ XX Bn in 2027.

What is the Autonomous Forklift Trucks Market CAGR?

The Autonomous Forklift Trucks market is expected to see significant CAGR growth over the coming years, at 11.5%.

What is the Forecast period considered for Autonomous Forklift Trucks Market?

The report is forecasted from 2019-2027.

What is the base year considered for Autonomous Forklift Trucks Market?

The base year of this report is 2018.

Who are the major players in this market?

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. are some of the major players in the global market.

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