Industrial lift trucks, which are used to transport inventory and material, either horizontally or vertically, within a facility, are an essential part of any warehouse. Autonomous lift trucks can provide added flexibility, safety, integration with WMS, and productivity, as well as reduced costs when it comes to this key element of a successful warehouse. Additionally, autonomous lift trucks position warehouse operators to keep up with future demands as business grows.
In recent years, the industrial lift truck market has seen high investment in electrification, automation, and the implementation of telematics systems. According to ABI Research, this investment won’t slow down anytime soon. The global technology investment firm expects shipments of autonomous lift trucks will double from 2024 to 2025.
“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,” Ryan Wiggin, senior analyst at ABI Research, said.
The Oyster Bay, N.Y.-based company says it positions itself at the intersection of end-market companies and technology solution providers so it can serve as a bridge between the two. Its global team of analysts aims to help its clients stay ahead of their markets and their competitors.
Autonomous lift trucks to push out traditional trucks
As the demand for autonomous lift trucks grows, most Original Equipment Manufacturers (OEMs), like Toyota Material Handling Jungheinrich and Crown, have started bringing their automated industrial trucks to market. These companies face competition from dedicated robotics vendors, like Fox Robotics, Agilox, and OTTO Motors.
An increasingly crowded market, and growing adoption, means ABI Research expects automated shipments to outpace standard industrial lift shipments in the medium term. The research firm expects this effect to be the most pronounced in North America and Europe.
“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,” Wiggin said.
ABI Research says 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. This push is led by companies like Powerfleet, ELOKON, Inpixon, and GemOne.