The autonomous forklift industry is projected to reach USD 5.07 billion by 2032 from an estimated USD 2.73 billion in 2025, at a CAGR of 9.3% from 2025 to 2032. The market is projected to expand because of rising demand for automated storage and retrieval systems (ASRS), growing acceptance of automated material handling equipment and warehouses, particularly in the e-commerce sector, industrial expansion in emerging economies, and rising demand for third-party logistics services.
With the growing popularity and usage of autonomous forklifts, the vision guidance navigation technology segment for autonomous forklifts is expected to register promising growth by 2032. Vision guidance navigation technology has a comparatively less complex design and is easy to implement. By utilizing multiple vision cameras, the system collects data about the guided path and dynamic and static obstacles, which is then processed by an internal inertial measurement unit (IMU) to determine the forklift’s precise position and orientation. Additionally, the SLAM methodologies, such as graph-based (GraphSLAM), filter-based (Extended Kalman Filter), and particle filter-based (FastSLAM) approaches, offer various options tailored to specific operational needs and environments. The continuous updating of environmental data enhances safety by allowing autonomous forklifts to react swiftly to unexpected obstacles or changes. The advancement of vision guidance navigation technology will create new business opportunities for OEMs, logistics providers, and warehouse operators by enabling cost-effective, scalable, and high-precision automation. As industries increasingly adopt SLAM-based navigation for enhanced safety and efficiency, stakeholders can leverage these innovations to streamline operations, reduce costs, and improve productivity, driving long-term market growth.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=194636851
The segment with tonnage capacities under 3 tons drives the market for autonomous forklifts. These forklifts find applications in e-commerce, consumer goods, small product manufacturing, F&B, healthcare, and small warehouses. These compact autonomous forklifts are easy to maneuver and enable safe movement of goods within small warehouse floor areas while ensuring human resource safety during the movement of hazardous goods & materials. Nearly 75% of the autonomous forklifts with less than 3 tons tonnage capacity are expected to dominate in 2025 owing to streamlining logistics management and optimizing warehouse operations in a highly dynamic market. Due to the rising demand, several major global market players, including Toyota Industries Corporation (Japan), Kion Group AG (Germany), and Jungheinrich AG (Germany), are concentrating on developing products for autonomous forklifts with tonnage capacities below 3 tons. In July 2023, Jungheinrich premiered its mobile robot EAE 212a solution at Stuttgart’s LogiMAT 2023 with a tonnage capacity of 1.2 tons. Battery-electric forklifts dominate this segment, contributing around ~98% of the overall market, primarily because automation is heavily concentrated in Class 1-3 forklifts, which are all-electric. These forklifts are predominantly deployed in indoor applications like warehouses, distribution centers, and manufacturing plants, where zero emissions, lower noise levels, and clean operations are crucial. Their ability to operate efficiently in enclosed environments without ventilation concerns makes them the preferred choice for automation.
As demand for battery-electric forklifts grows, battery manufacturers, cathode material suppliers, and OEMs can collaborate on innovative battery technologies to enhance performance, efficiency, and sustainability, securing a leading position in this rapidly evolving market.
Asia Pacific is estimated to be the fastest-growing market due to significant growth in adopting automated material handling equipment in China, Japan, and India. The region is expected to lead the market by 2032. The area is considered one of the world’s most significant automobile and industrial production and manufacturing hubs. China has emerged as a manufacturing hub, and according to the National Bureau of Statistics, in 2023, the total value added to the industrial sector was USD 5,524.45 million (39,910.3 billion yuan), up by 4.2% over the previous year. Huge domestic demand for products and services and significant business growth opportunities have led to the establishment of manufacturing and warehousing units for various industries in the region, such as automotive, metals, heavy machinery, semiconductors, and electronics. This offers an attractive growth opportunity for the autonomous forklift market in the Asia Pacific region. Countries like China and India have significant demand for the e-commerce industry owing to the presence of major companies such as JD.com, Alibaba, and Amazon, among others. OEMs are developing cost-effective, customizable solutions tailored to industry-specific needs. For example, Toyota Material Handling is advancing LiDAR and vision-based navigation, while Jungheinrich focuses on integrating fleet management with AI-driven WMS. These players would deploy autonomous forklifts at their warehouses for efficient logistics flow. Companies such as Toyota Industries Corporation (Japan), Hyundai Construction Equipment Co Ltd (South Korea), Anhui Heli Co Ltd (China), Multiway Robotics (China) Company (China), and Scott Automation (China) are swiftly rising to occupy the niche market.
Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=194636851
