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Sales of Mobile Pallet Trucks to Reach US$ 50.7 Billion by

Rockville, Jan. 23, 2023 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global mobile pallet trucks market is estimated to be valued at US$ 25 billion in 2023 and is expected to expand at an impressive CAGR of 7.3% during the forecast period. The market is poised to grow due to adoption of mobile pallet trucks in diverse end use sectors.

The incorporation of automated equipment in logistics provides increased levels of uptime compared to manual labor, boosting productivity in a vast array of end use industries. Studies show that adopting robotics in logistics reduces around 70% of warehouse labor costs and aids business function with minimal costs.

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Report Attributes
Details
Historical Date 2023 – 2032
Value Projection (2032) US$ 50.7 Billion
Growth Rate (2022-2032) 7.3% CAGR
no of Pages 170 pages
no of Tables 192 Tables
no of Figures 154 Figures

Key Takeaways from Market Study

  • The global mobile pallet trucks market is projected to expand at an impressive CAGR of 7.3% and be valued at US$ 50.7 billion by 2033.
  • The market witnessed 5.4% CAGR for the period of 2018-2022.
  • Under speed segment, 2-3 m/s mobile pallet trucks are predicted to dominate the market and are estimated to be valued at US$ 8.1 Billion in 2023.
  • The US is expected to dominate the market share in North America by likely accounting for 86.1% of its market share in 2023.
  • Omnidirectional mobile pallet trucks likely to represent 43.2% market share in 2023.
  • Sales of mobile pallet trucks in logistics & warehouse under end use segment is predicted to have a market valuation of US$ 7.1 billion in 2023.

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Market Development

Companies are continuously launching new mobile pallet trucks for a wide variety of applications. With new technology upgrades persistently entering the market, mobile pallet trucks market will witness substantial growth in the near future.

One of the leading players in the market, Vecna ​​Robotics collaborated with Big Joe Forklifts to announce the launch of Vecna ​​Co-Bot pallet jack in May, 2022. The fully automatic pallet jack, is intended for work intensive material handling workflows in warehouses and manufacturing facilities. The model will be available in Robot as a Service (RaaS) pricing model.

In December 2021, Mobile Industrial Robotics (MiR) announced their collaboration with Logitrans A/S to build mobile pallet jacks. The company aims to build autonomous pallet jack that will be capable of picking and delivering pallets from the ground level by combining autonomous navigation of MiR and software capabilities of Logitran electric pallet jacks.

Competitive Landscape

Prominent manufacturers of the mobile pallet truck industry globally are Alta Equipment Group., Anantak Robotics Inc., BAYLO, Big Box Automation, Dorabot Inc., F3-Design BV, Fetch Robotics, Inc., LiftOne, Multiway Robotics (Shenzhen) Co. , Ltd, NOBLEO TECHNOLOGY, Seegrid Corporation and Vecna ​​Robotics.

Manufacturers of mobile pallet trucks or robotic pallet trucks are developing mobile pallet trucks for automation of different applications in automotive, food and beverage, logistics and warehousing among others. For instance, in January 2021, Kivnon launched the K50 pallet truck capable of circulating around the workplace based on magnetic guidance or mapping navigation using SLAM technology. The pallet trucker can move bidirectionally and can handle loads vertically and horizontally.

Key Companies Profiled

  • Alta Equipment Group.
  • Anantak Robotics Inc.
  • BAYLO
  • Big Box Automation
  • Dorabot Inc.
  • F3-Design BV
  • Fetch Robotics, Inc.
  • LiftOne
  • Multiway Robotics (Shenzhen) Co., Ltd
  • NOBLE TECHNOLOGY
  • Seegrid Corporation
  • Vecna ​​Robotics

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Segmentation of Mobile Pallet Truck Industry Research

  • By Payload :
    • Up to 2000 lbs
    • 2000 – 4000 lbs
    • 4000 – 6000 lbs
    • Above 6000 lbs
  • By Navigation Technology :
    • Laser Guided Navigation
    • Magnetic Navigation
      • Magnetic Tape Navigation
      • Magnetic Spot Navigation
    • Natural Navigation
      • LiDAR SLAM
      • GPS
      • Vision
      • Others (Sonar)
    • Combination (Multi Tech)
  • By Communication :
    • Wireless Area Network (WAN)
    • Optical Communication
    • 5G
    • Radio Waves
    • Wireless Mesh
  • By Movement :
    • unidirectional
    • Bidirectional
    • Omnidirectional
  • By Speed ​​:
    • Up to 1 m/s
    • 1-2 m/s
    • 2 – 3 m/s
    • Above 3 m/s
  • By End Use Industry :
    • Aerospace & Defense
    • Automotive
    • Discrete Manufacturing
    • Electronics & Semiconductor
    • Food & Beverage
    • Healthcare
    • Logistics & Warehouse
    • Packaging
    • Paper & Printing
    • Retail e-Commerce
    • Others
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global mobile pallet trucks market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of payload (up to 2000 lbs, 2000 – 4000 lbs, 4000 – 6000 lbs, above 6000 lbs), navigation technology (laser guided navigation, magnetic navigation (magnetic tape navigation, magnetic spot navigation) natural navigation (LiDAR SLAM, GPS, vision, others (sonar)), communication (Wireless Area Network (WAN), optical, communication, 5G, radio waves, wireless mesh), movement (unidirectional, bidirectional, translational, rotational, omnidirectional, combination (multi tech)), speed (up to 1 m/s, 1- 2 m/s, 2 – 3 m/s, above 3 m/s), end use industry (aerospace & defense, automotive, discrete manufacturing, electronics & semiconductor, food & beverage, healthcare, logistics & warehouse, packaging, paper & printing, retail e-commerce, others) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).

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