Global Autonomous Forklifts Market
Drivers: Global Autonomous Forklifts Market
- Growth in the logistics industry
- Increase in the technological advancement
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Restraints:
- High production and maintenance cost
- Stringent safety regulations
Opportunity:
- Continuous strategic initiatives for business expansion
CHALLENGE:
- Fluctuating price of components and raw materials
Market Trends
Global autonomous forklifts market is segmented into seven notable segments which are based on the basis of type, level of automation, tonnage, component, sales channel, function and end-user.
- On the basis of type, the market is segmented into electric motor rider forklifts, electric motor narrow aisle forklifts, electric pallet jacks, stackers, and tow tractors, internal combustion cushion tire forklifts, internal combustion pneumatic tire forklifts, electric/IC engine tow tractors, rough terrain forklift trucks
- On the basis of level of automation, the market is segmented into level 1, level 2, level 3, level 4 and level 5. The level 1 segment is dominating the market as this type of vehicle integrates with single automated system for driver assistance, such as steering or accelerating (cruise control), adaptive cruise control among others. Hence, integration of these components helps in minimizing road accidents.
- On the basis of tonnage, the market is segmented into below 5 tons, 5-10 tons and more than 10 tons
- On the basis of component, the market is segmented into hardware, software and service
- On the basis of sales channel, the market is segmented into in-house purchase and leasing
- On the basis of function, the market is segmented into manufacturing, warehousing, material handling, logistics & freight and others
- On the basis of end-user, the market is segmented into transportation & logistics, manufacturing, paper industry, wood industry, construction, automotive, food and beverages, retail and others
Major Players: Global Autonomous Forklifts Market
Some of the major players operating in this market are Hyster-Yale Materials Handling, Inc., Jungheinrich AG, Doosan Corporation, Komatsu Ltd., KION GROUP AG, Toyota Industries Corporation, Mitsubishi Heavy Industries, Ltd, Hyundai Construction Equipment. Europe, Cat Lift Truck, NITCO, Anhui Heli Co., Ltd., Anhui Yufeng warehousing equipment Co, Ltd, BHS Corrugated Maschinen-und Anlagenbau GmbH, AB Volvo, BALYO, CLARK, Godrej Industries Limited, Corecon, Inc, HANGCHA Group, SINKOBE CO., LTD among others.
