Autonomous Forklift Market: Industry Size and Share Expected to Grow Rapidly by 2028

MANHATTAN, N.Y. - Feb. 28, 2023 - PRLog -- The report also states that factors such as increasing industrialization and investments in infrastructure are expected to drive the growth of the global autonomous forklift industry over the next five years.

The global autonomous forklift market is segmented based on level of automation, class type, fuel type, application, and region. The market is divided into IC engine powered, motorized hand, and electric powered autonomous forklifts based on fuel type. During the forecast period, motorized and electric powered forklifts are expected to experience significant growth due to their high efficiency and environmental friendliness, powered by batteries. Governments have implemented strict environmental regulations, which has led several forklift manufacturers to focus on developing and launching battery-powered forklifts that offer lower emissions.

The global autonomous forklift market is led by major players such as Hyundai Heavy Industries Group, AB Volvo, Jungheinrich AG, Linde Material Handling, KION Group AG, Toyota Material Handling Group, OTTO Motors, Balyo Robotic, Crown Equipment, and others. These companies are investing in technological advancements such as obstacle avoidance and target guidance to ensure smooth operations of self-driving forklifts. According to Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm, the Asia-Pacific region is the dominant region in the global autonomous forklift market, and this trend is expected to continue over the next five years. This is because freight and logistics is one of the major applications of autonomous forklifts, and the majority of freight transport in the region occurs through sea and rail, driving the demand for forklifts to facilitate the efficient movement of items.

The TechSci Research report, "Global Autonomous Forklift Market By Level of Automation, By Class Type, By Fuel Type, By Application, By Region, Competition, Forecast & Opportunities, 2024," evaluates the future growth potential of the global autonomous forklift market and provides statistics and information on market size, structure, and future market growth. The report aims to provide cutting-edge market intelligence to help decision makers make sound investment decisions. Furthermore, the report identifies and analyzes emerging trends, essential drivers, challenges, and opportunities in the global autonomous forklift market.

Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on "Global Autonomous Forklift Market " - https://www.techsciresearch.com/report/autonomous-forklift-market/4291.html

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