DUBLIN--(BUSINESS WIRE )--The "Autonomous Forklift Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global autonomous forklift market is expected to grow from $5.22 billion in 2021 to $5.82 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The autonomous forklift market is expected to grow to $8.26 billion in 2026 at a CAGR of 9.1%.

The autonomous forklift market consists of sales of autonomous forklift products by entities (organizations, sole traders, and partnerships) that are used for automating the materials handling process in warehouses. Autonomous forklifts are driverless forklifts that utilize automated guided vehicles and systems technology.

These forklifts can be used for various operations such as lifting, transporting, putting away, or carrying loads in warehouses and other locations. In addition, this equipment reduces operating costs and improves work efficiency in warehouses.

Asia Pacific was the largest region in the autonomous forklift market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the autonomous forklift market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The autonomous forklift market research report is one of a series of new reports that provides autonomous forklift market statistics, including global market size, regional shares, competitors with an autonomous forklift market share, detailed autonomous forklift market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous forklift industry. This autonomous forklift market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing demand for automated warehouses is expected to drive the growth of the autonomous forklift market going forward. Automated warehouses refer to the systems used for warehouse operations with automated material handling equipment integrated with artificial intelligence and robotics.

Manufacturers are adopting autonomous forklifts for their operations as they offer a significant improvement in productivity, reduce product damage, improve safety and efficiency, and reduce labor costs. These benefits have encouraged industries to embrace the use of autonomous forklifts, thereby increasing their demand.

For instance, in December 2021, according to Conveyco, a UK-based material handling equipment supplier, at least 6,20,000 shipments of various warehouse automation technologies were shipped worldwide. Therefore, the increasing demand for automated warehouses is driving the demand for autonomous forklifts.

New product innovation is the key trend gaining popularity in the autonomous forklift market. Major companies operating in the autonomous forklift market are focused on developing technologically advanced products to strengthen their market position. For instance, in March 2022, OTTO Motors, a US-based self-driving technology company, introduced the OTTO Lifter, the smartest autonomous forklift on the market.

This new technology is designed to automatically pick up and drop off pallets. In complex contexts, the OTTO Lifter can make real-time decisions and can find a pallet if it is tilted, modify behavior in extremely dynamic surroundings, and determine the optimal route on its own, unlike other autonomous forklifts on the market. The OTTO Lifter smoothly navigates traffic and obstacles with dynamic path planning, lane tending, intelligent pallet detection, and stretch-wrap piercing to deliver products to the right place, at the right time.

The countries covered in the autonomous forklift market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Major players in the autonomous forklift market are

3. Autonomous Forklift Market Trends And Strategies

4. Impact Of COVID-19 On Autonomous Forklift

5. Autonomous Forklift Market Size And Growth

5.1. Global Autonomous Forklift Historic Market, 2016-2021, $ Billion

5.2. Global Autonomous Forklift Forecast Market, 2021-2026F, 2031F, $ Billion

6.1. Global Autonomous Forklift Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

6.2. Global Autonomous Forklift Market, Segmentation By Component, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

6.3. Global Autonomous Forklift Market, Segmentation By Navigation Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

6.4. Global Autonomous Forklift Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7. Autonomous Forklift Market Regional And Country Analysis

7.1. Global Autonomous Forklift Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7.2. Global Autonomous Forklift Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900