Wilmington, Delaware, August 7, 2024 (GLOBE NEWSWIRE) – Allied Market Research published a report titled: “Market for automated pallet trucks by Type (Pallet, Transport Truck, and Pallet Stacker Truck) and Application (Production & Manufacturing, Distribution & Logistics, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033″According to the report, the automated pallet truck market was valued at $4.9 billion in 2023 and is estimated to reach $27.3 billion by 2033, growing at a CAGR of 21.4% between 2024 and 2033.

Key growth factors

The general trend towards industrial automation, driven by the need for increased efficiency, productivity, and cost reduction, is a major factor driving the growth of the automated pallet truck market. As companies across various industries adopt automation technologies to streamline their operations, the demand for automated pallet trucks as a part of automated material handling systems is increasing. The rapid growth of e-commerce globally is a major driver of the automated pallet truck market. E-commerce companies require efficient and scalable warehouse operations to meet the growing demand for fast and accurate order fulfillment. Automated pallet trucks play a crucial role in optimizing warehouse processes, reducing order fulfillment times, and improving inventory management in e-commerce fulfillment centers.

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Report scope and details:

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Segment highlights

The pallet truck segment is expected to grow at a faster pace throughout the forecast period.

The pallet dolly segment is expected to witness faster growth in the automated pallet dolly market as a wide variety of palletized goods in different shapes, sizes and weights can be handled by pallet dollies due to their extreme versatility. Their effective design for transporting pallets of goods in warehouses, distribution centers and industrial facilities makes them indispensable for material handling activities in a variety of industries. Pallets are the most common loading and transporting unit for goods in many industries including retail, manufacturing and logistics. Therefore, pallet dollies cover a huge market segment and meet the needs of a wide range of customers who rely on palletized goods for storage, transportation and distribution.

Automated pallet trucks significantly improve operational efficiency and productivity by automating the movement of pallets within facilities. They can transport multiple pallets simultaneously, travel at a constant speed, and precisely execute predefined routes, minimizing delays, optimizing workflows, and maximizing throughput.

The production and manufacturing area Is is expected to grow faster throughout the forecast period.

The production and manufacturing segment is expected to witness faster growth in the automated pallet trucks market as production and manufacturing facilities in industries such as automotive, food and beverage, pharmaceutical, consumer goods, and electronics rely heavily on automated material handling solutions to optimize their operations. Automated pallet trucks play a crucial role in these environments by efficiently transporting materials and finished products, which contributes to high demand in this segment. Production and manufacturing facilities often have extensive storage areas and complex material flow requirements. Hence, they tend to deploy a large number of automated pallet trucks to handle the transportation of palletized goods within their facilities. This large-scale deployment contributes to a significant market share of the production and manufacturing segment.

Production and manufacturing operations often require customized automation solutions that integrate seamlessly with existing equipment and workflows. Automated pallet truck manufacturers typically offer customization options and integration services to meet the specific needs of production and manufacturing facilities, further driving demand in this segment.

North America to maintain its dominance until 2032

North America has a mature industrial sector and a thriving e-commerce market. These industries rely heavily on efficient warehouse operations to handle large volumes of goods and meet customer demand. Automated pallet trucks offer improved efficiency, accuracy and scalability, making them indispensable in these industries and increasing their market share.

Key figures

• Aichikikai Techno System Co., Ltd.
• Amazon Robotics
• ATAP, Inc
• Daifuku
• Dematic
• JBT Corporation
• Meidensha
• Mitsubishi Caterpillar Forklift
• Seegrid Corporation
• Swisslog

The report offers a detailed analysis of these key players in the global Automated Pallet Truck market. These players have adopted different strategies such as new product launch, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable as it highlights the business development, business segments, product portfolio, and strategic moves of the market players to present the competitive scenario.

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The latest development

• In March 2023, Big Joe unveiled an autonomous pallet transporter in partnership with Thoro.Ai, a company specializing in artificial intelligence and automation solutions. This collaboration combines Big Joe’s expertise in material handling equipment with Thoro.Ai’s advanced AI technology to develop a pallet transporter that can operate autonomously. The autonomous pallet transporter streamlines pallet transport tasks in warehouses and distribution centers, providing greater efficiency, flexibility, and productivity. It uses AI algorithms and sensor technology to navigate warehouse environments, pick up and transport pallets, and safely interact with people and other equipment. Through this partnership, Big Joe aims to provide innovative solutions that meet the evolving needs of the material handling industry.
• In April 2023, Doosan Industrial Vehicle partnered with Kollmorgen, a leading provider of motion control and automation solutions, to develop automated forklifts. The goal of this collaboration is to integrate Kollmorgen’s advanced automation technology with Doosan’s industrial vehicle expertise, improving the ability of forklifts to operate autonomously and efficiently in warehouse and logistics environments.
• In March 2024, Tompkins Robotics’ PickPallet automated pallet truck increases industrial efficiency by automating the process of picking and transporting palletized goods in warehouses and distribution centers. This robotic system uses advanced robotics and artificial intelligence technologies to complete tasks that were traditionally performed by human workers.
• In March 2024, Tompkins Robotics’ PickPallet automated pallet truck increases industrial efficiency by automating the process of picking and transporting palletized goods in warehouses and distribution centers. This robotic system uses advanced robotics and artificial intelligence technologies to complete tasks that were traditionally performed by human workers.
• In February 2024, Grenzebach developed a new automated forklift truck specifically designed for the transport of Euro pallets. This innovative solution optimizes pallet transport in warehouses and distribution centers.

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