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According to the new report titled "Autonomous forklift Market by Forklift Type (Rider Forklift, Narrow Aisle Forklift, Hand Forklift, Indoor Use Forklift, Internal Combustion Outdoor Forklift, Tow Forklift, Rough Terrain & Aerial Forklift), Automation Level (level 1, Level 2, Level 3, Level 4, Level 5), Tonnages (Below 5 Tons, 5-10 Tons, More Than 10 Tons), Component (Hardware, Software, Service), and End User (Manufacturing, Wholesale & Retail Distribution, Freight & Logistics, Other) - Global Analysis to 2023", the valuation of the autonomous forklift market is projected to register a steady CAGR in the forecast period from 2018 to 2023.

The factors such as the rapid industrialization, growth in the logistics industry and increase in the technological advancements have driven growth in the autonomous forklift market. Further, the growth in the retail sector in the countries including US, India, and China has increased the demand for autonomous forklift.

Wholesale & retail distribution held the largest chunk of the autonomous forklift market share

The wholesale & retail distribution held the largest share in the market in 2017. The increasing pressure on retail companies to meet the ever-increasing demand of its customers and growing number of warehouses have raised the demand for autonomous forklift in the wholesale & retail distribution.

Asia Pacific led the autonomous forklift market in 2017

Asia Pacific dominated the autonomous forklift market in 2017. The growing demand for automation in material-handling across industries and adoption rider forklifts have driven Asia Pacific growth in the autonomous forklift market.

Key market players operating in the market that are profiled in the report are Hyster-Yale Materials Handling, Inc. (U.S.), Jungheinrich AG (Germany), Doosan Corporation (South Korea), Komatsu Ltd. (Japan), KION Group AG (Germany), Toyota Industries Corporation (Japan), Mitsubishi Heavy Industries, Ltd (Japan), Hyundai Construction Equipment (Belgium), Cat Lift Truck(U.S.), Anhui Heli Co., Ltd. (China), Anhui Yufeng warehousing equipment Co, Ltd (China), BHS Corrugated Maschinen-und Anlagenbau GmbH (Germany), AB Volvo (Sweden), BALYO (France), Godrej Industries Limited (India), HANGCHA Group (China), and SINKOBE CO., LTD (Japan)

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