The global automated forklift trucks market is likely to gain momentum from the rising implementation of Industry 4.0. It consists of the integration of physical and cyber systems, internet of systems, and internet of things (IoT). It is further aiding in the enhancement of the complete production process that is upsurging productivity and enabling persistent manufacturing. Apart from that, it is reducing waste generation owing to the flow of information and connected data. This information is given by Fortune Business Insights™ in a recent report, titled, “Automated Forklift Trucks Market Size, Share and Industry Analysis, By Type (Pallet Mover, Counterbalance, Outrigger, and Reach Truck), and Regional Forecast, 2019-2026.” The report further mentions that the automated forklift trucks market size stood at USD 416.7 million in 2018 and is projected to reach USD 786.9 million by 2026 exhibiting a CAGR of 8.3% during the forecast period.
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Fortune Business Insights™ presents a list of all the companies operating in the automated forklift trucks market. They are as follows:
- Seegrid Corporation
- KION GROUP AG
- Mitsubishi Caterpillar Forklift America Inc.
- TOYOTA INDUSTRIES CORPORATION
- E&K Automation GmbH
- Crown Equipment Corporation
- Hyster-Yale Materials Handling, Inc.
- Other key market players
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Drivers & Restraints-
Expansion of E-commerce Industry to Boost Growth
Owing to the rising adoption of smartphones and internet service, the e-commerce industry across the globe is flourishing. It is, in turn, causing a rise in the unmatched demand for products. Hence, it is aiding in improving the performance of the fulfilment and distribution operations. Additionally, consumer demand is directly affecting the Ministry of Micro, Small & Medium Enterprises (MSME) as the agency is striving to push its production cycle backed by the rising manufacturing capacity. It is causing a surge in the flow of materials, thereby propelling the automated forklift trucks market growth in the coming years. However, high initial cost related to the product may hamper growth.
Presence of Well-established Manufacturing Industry to Accelerate Growth in Asia Pacific
Based on region, the market is grouped into Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. Amongst these, Asia Pacific held USD 150.3 million in terms of automated forklift trucks market revenue in 2018. The high concentration of manufacturing industries is one of the major contributors to the growth. Also, the increasing demand for products from the consumers would boost growth.
In North America, key enterprises are engaging in the development and installation of state-of-the-art technologies to create products that would not only offer risk-free operations, but also flexibility. Europe, on the other hand, is expected to be in the second position on account of the increasing initiatives by reputed companies to improve their promotional strategies by participating constantly in exhibitions and seminars.
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Detailed Table of Content
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Key Technological Developments
- Consolidated SWOT Analysis of Key Players
- Global Automated Forklift Trucks Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Type (Value)
- Pallet Mover
- Reach Truck
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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