Autonomous Forklift Market Outlook - 2027

The human intervention with machines is reducing with integration of electronics, IoT, communication systems, and others. Autonomous forklift is one such innovation, which can load, unload,and transport goodswithout any human involvement. Additionally, the forklift can independently maneuver in the storehouses and carry heavy loads without any damages. The autonomous forklift has cameras and sensors which provide information for operation. Besides, the autonomous forklift acts as per the program loaded inside its software. Owing to the advantages offered by autonomous forklift, the factory owners are increasingly procuring the autonomous forklift for transporting goods.

Market scope and structure analysis:

 COVID-19 scenario analysis:

• Due to the impact and challenges of COVID-19, the condition of automotive industry is worsening.
• It has put an incredible strain on global supply chains and logistics infrastructure.
• Moreover, reopening of firms have been taken care with variety of measures. For instance, forklift manufacturer Toyota Material Handling is observing National Forklift Safety Day through implementation of various measures across its dealer locations to ensure customer service is uninterrupted.
• However, autonomous forklift would be used to alleviate the strain on existing forklift services. Moreover, the company operation could be started with minimal human requirements, further reducing the risk of COVID-19.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The increased productivity and work efficiency offered by autonomous forklift is primarily driving the autonomous forklift market growth. Additionally, the autonomous forklift reduces the risk of accident and delivers material without any damage or risk. Besides, the autonomous forklift reduces the labor cost significantly. Moreover, the smarter handling with lean logistics offered by autonomous forklift is proliferating the market growth. However, high initial investment is expected to hamper market growth. Furthermore, booming e-commerce sector along with increasing distributors and suppliers is propelling the autonomous forklift market.

The Autonomous Forkliftmarket trends are as follows:

Company expansion to maneuver the growth

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 product. Besides, expansion provides opportunities to attract new customers and retain old ones. In 2019, Geek plus robotics looks to expand into forklift for heavy industry. Moreover, the company is focusing to deliver solutions to steelmaking, construction, and other operations where the loads are big and heavy.

Rising e-commerce sector to flourish the market

The introduction of e-commerce has changed the logistics and warehousing service to another level. As the number of deliveries are increasing through e-commerce, the amount of labor charges and workforce is increasing. Moreover, this has led to increase in warehouse automation. For instance, Amazon is set to enter an agreement with Balyo, A French autonomous forklift manufacturer, with an aim to build automation in warehouse. Additionally, Amazon recently has more than 200,000 robotic vehicles that are moving goods through its delivery fulfilment center in the U.S.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the autonomous forklift industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed autonomous forklift market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the autonomous forklift market research report:

• Which are the leading market players active in the autonomous forkliftmarket?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?