Shipments of Autonomous Lift Trucks to Grow at a CAGR of 53.7% as Warehouse Labor Issues Persist, Business News

Electrification, automation, and connectivity on the rise in the industrial lift truck market

NEW YORK, June 6, 2024 /PRNewswire/ — Industrial trucks are vehicles used to transport inventory and materials within a facility, either horizontally or vertically. The industrial lift truck market has been buzzing, with high investment in electrification, automation, and the implementation of telematics systems. According to global technology intelligence firmABI Research, shipments of autonomous industrial lift trucks will double from 2024 to 2025 in North America and Europe.

“Pallet-picking operations have lagged when it comes to automation, with most warehouse automation coming in the form of smaller form Autonomous Mobile Robots (AMRs) and Automated Storage and Retrieval Systems (ASRS) for case and item picking. This is mostly because of the additional complexity and safety concerns associated with heavy pallet handling requirements. But more organizations are now exploring how they can optimize their industrial lift truck fleets through better management by adding telematics systems and exploring autonomous models for certain tasks,” explains Ryan WigginSenior Analyst at ABI Research.

Most Original Equipment Manufacturers (OEMs) such as Toyota Material Handling, Jungheinrichand Crown are bringing their own automated industrial trucks to market. They are being challenged by dedicated robotics vendors such as Fox Robotics, Agiloxand OTTO Motors. Growing adoption is expected to cannibalize shipments of standard industrial lift trucks in the medium term, with the effect most pronounced in North America and Europe.

The desire for better fleet management is also fueling a continued rise in the adoption of telematics systems for industrial trucks. The need to track and analyze movements, ensure worker safety, and orchestrate mixed fleets will see shipments of telematics systems to this part of the market rise considerably, led by companies like Powerfleet, ELOKON, Inpixonand GemOne.

“A declining workforce in industrial settings is forcing companies to consider adopting automated industrial trucks to conduct repetitive put-away and shunting activities, such as trailer unloading/loading and moving pallets from one part of a warehouse to another. Fleets will become an increasing blend of automation and manual operation alongside growing investment in telematics systems to support safety and management. Significant opportunities exist for all three sides of the market (OEMs, aftermarket telematics, and robotics providers) with several partnerships and new players expected in the coming years,” concludes Wiggin.

These findings are from ABI Research’s Industrial Lift Truck Market: Key Trends and Expanding Automationreport. This report is part of the company’s Supply Chain Management and Logisticsresearch service, which includes research, data, and ABI Insights.

About ABI Research

ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.

ABI Research is a global technology intelligence company uniquely positioned to serve as a bridge between end-market companies and technology solution providers, seamlessly bridging the two by delivering exclusive research and expert guidance that drives successful technology implementations and provides proven strategies to attract and retain customers.

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe+65.6592.0290 in Asia-Pacificor visitwww.abiresearch.com.

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Deborah Petrara
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