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Home Industry Automotive

Automation driving the industrial lift truck market upwards

FutureIoT Editors by FutureIoT Editors
June 10, 2024
Photo by Denniz Futalan: https://www.pexels.com/photo/parked-yellow-forklift-truck-2523921/

Photo by Denniz Futalan: https://www.pexels.com/photo/parked-yellow-forklift-truck-2523921/

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. ABI Research predicts that 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,” explains Ryan Wiggin, Senior Analyst at ABI Research.

He adds that 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.

Most original equipment manufacturers (OEMs) such as Toyota Material Handling, Jungheinrich, and Crown are bringing their own automated industrial trucks to market. They are being challenged by dedicated robotics vendors such as Fox Robotics, Agilox, and 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 fuelling a continued rise in the adoption of telematics systems for industrial trucks. The need to track and analyse 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, Inpixon, and GemOne.

Wiggins says 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. He adds that 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.

Related:  Why Toshiba is aiming to lead in fusing the cyber and physical worlds
Tags: ABI Researchautomated storage & retrieval systemAutonomous Mobile RobotsOEM telematics systems
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