Europe Autonomous Forklift Market Size, Share & Industry Trends Analysis Report By Type, By Application, By Navigation Technology, By Tonnage Capacity, By Operation Type, By Propulsion Type, By Vertical, By Country and Growth Forecast, 2023 - 2029

Europe Autonomous Forklift Market Size, Share & Industry Trends Analysis Report By Type, By Application, By Navigation Technology, By Tonnage Capacity, By Operation Type, By Propulsion Type, By Vertical, By Country and Growth Forecast, 2023 - 2029

The Europe Autonomous Forklift Market would witness market growth of 12.2% CAGR during the forecast period (2023-2029).

Implementing automated guided vehicle (AGV) technology in manufacturing operations has proven highly advantageous, resulting in significant reductions in operating expenses and enhanced material throughput. However, the benefits of this technology extend beyond these primary advantages. Implementing material handling automation in the first-mile process can enhance a company's profitability and customer contentment across its warehouses.

The transportation of materials and products within a warehouse and distribution center is facilitated using automated pallet jacks. The newly developed pallet jack operates differently from traditional ones. Batteries commonly power these devices and can transport loads weighing several tons. Implementing autonomous pallet jacks in warehouse operations has been observed to enhance efficiency and safety.

These machines are capable of continuous operation without the need for breaks, can navigate through narrow spaces, and have the ability to detect and avoid obstacles and individuals. In addition, it is common practice to integrate them with warehouse management systems to optimize the flow of goods and reduce human errors.

Autonomous forklifts and other AGVs must adhere to safety standards outlined in the EN 1525 and EN 1526 rules, which deal with automated technology. These laws should aid in adopting autonomous forklifts and other automated material-handling equipment. European countries were the first to utilize automated warehouse material handling systems. Furthermore, localized distribution hubs are now increasingly essential due to Brexit. For instance, post-Brexit warehouse availability was at a record low. In addition, there is a higher requirement for quick order fulfilment due to rising e-commerce sales.

The Germany market dominated the Europe Autonomous Forklift Market by Country in 2022; thereby, achieving a market value of $606.5 million by 2029. The UK market is exhibiting a CAGR of 11.3% during (2023 - 2029). Additionally, The France market would experience a CAGR of 13.1% during (2023 - 2029).

Based on Type, the market is segmented into Pallet Jacks and Pallet Stackers. Based on Application, the market is segmented into Material Handling, Warehousing, Logistics & Freight, Manufacturing and Others. Based on Navigation Technology, the market is segmented into Vision Guidance, Laser Guidance, Magnetic & Inductive Guidance, Optical Tape Guidance and SLAM & Others. Based on Tonnage Capacity, the market is segmented into Below 5 Tons, 5-10 Tons and Above 10 Tons. Based on Operation Type, the market is segmented into Indoor and Outdoor. Based on Propulsion Type, the market is segmented into Electric and ICE & Others. Based on Vertical, the market is segmented into Food & Beverages, 3PL, Healthcare, Automotive & Aviation, Retail & Ecommerce, Paper & Pulp, Electronics & Semiconductors and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mitsubishi Logisnext Co., Ltd., Toyota Industries Corporation, Oceaneering International, Inc., Kuka AG (Swisslog Holding AG), Hyster-Yale Materials Handling, Inc., Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.), Jungheinrich AG, Balyo, KION GROUP AG and AGILOX Services GmbH

Scope of the Study

Market Segments covered in the Report:

By Type

Pallet Jacks
Pallet Stackers
By Application

Material Handling
Warehousing
Logistics & Freight
Manufacturing
Others
By Navigation Technology

Vision Guidance
Laser Guidance
Magnetic & Inductive Guidance
Optical Tape Guidance
SLAM & Others
By Tonnage Capacity

Below 5 Tons
5-10 Tons
Above 10 Tons
By Operation Type

Indoor
Outdoor
By Propulsion Type

Electric
ICE & Others
By Vertical

Food & Beverages
3PL
Healthcare
Automotive & Aviation
Retail & Ecommerce
Paper & Pulp
Electronics & Semiconductors
Others
By Country

Germany
UK
France
Russia
Spain
Italy
Rest of Europe
Companies Profiled

Mitsubishi Logisnext Co., Ltd.
Toyota Industries Corporation
Oceaneering International, Inc.
Kuka AG (Swisslog Holding AG)
Hyster-Yale Materials Handling, Inc.
Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.)
Jungheinrich AG
Balyo
KION GROUP AG
AGILOX Services GmbH
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