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Global Automated Pallet Truck Market 2021: By Product Type (Pallet Transporting Truck, Pallet Stacking Truck), By Application (Production & Manufacturing,, Distribution & Logistics, Other)Global Automated Pallet Truck Market is the title of an upcoming market research report by Trusted Business Insights. Critical factors have been analyzed and studied comprehensively to present vital data and information in a well-planned format. In addition to the revenue shares of each segment, region, and country, revenue growth driving factors, restraints, as well as opportunities in untapped regions and economies are included. The company profiles of key players comprise detailed information, recent developments, strategies, acquisitions & mergers, etc. The global automated pallet truck market is segmented by product type, application, and regions/countries.Request Covid - 19 Impact The Global Automated Pallet Truck market size was valued at USD $3.19 Billion in 2020, USD $3.88 Billion in 2021, forecasted to reach USD $4.72 Billion in 2022, and is projected to reach USD $22.4 Billion by 2030, and is anticipated to expand at a CAGR of 21.52% over the forecast period from 2020 to 2030.
OverviewA pallet truck is also known as a jigger, pallet pump, pallet jack dog, pump truck. Pallet trucks are wheeled trolleys that are used to move or lift light or heavy pallets. Automated pallet trucks are vehicles that are equipped with an automated guided vehicle system (AGV). These systems are mobile robots that function using vision, magnets, or lasers for navigation and follow wires or markers on the floor. These tools are primarily used in industrial applications to lift and move materials in a warehouse or manufacturing facility. The applications of automated pallet trucks are increasing as these are now being used in other commercial sectors as well.
DynamicsFactors such as increasing income levels, growing populations, growth of the manufacturing sectors and rising focus on automation in the industrial sectors are factors that are contributing to the growth of the global automated pallet truck market. Moreover, the inclination towards safety, low costs and high productivity are among other factors fostering this markets growth. Automated pallet trucks have wide applications such as material handling in several industries including manufacturing, automotive, aerospace, food & beverage, logistics, retail, and healthcare among others. In addition, the growing e-commerce industry is also seen as a major opportunity for growth in the market and is expected to be a key growth factor for the automated guided vehicle market in the future.
Segment AnalysisBy Type: The pallet transporting segment is expected to account for significant growth over the next 10 years. By Application: In terms of application, the production and distribution segment is projected to account for the highest revenue share over the coming years due to the increasing demand for automated pallet trucks in the manufacturing sector.
Regional Analysis:The market in North America is expected to account for the majority revenue share over the forecast period due to the growth of the e-commerce sector and decreasing labor power in the region. Such factors are leading to an increase in the installation of automated systems which is subsequently contributing to the growth of the pallet trucks market in the region. The market in the US is a major revenue contributor in the region. The Asia Pacific market is projected to index a high Compounded Annual Growth Rate (CAGR) over the next 10 years. Factors such as increasing disposable incomes, improved standards of living, and the booming economies of many countries in the region will lead to market growth.
Below are the active patents related to Automated Pallet Truck Market.Patent Number: US9075412B2 Self-propelled robotic pallet vehicle Abstract Various aspects of the present disclosure provide a robotic pallet system that provides the ability to move palletized cargo without requiring the use of additional material handling equipment such as forklifts and K-loaders, for example. In some aspects, an integrated system may be used to interact with and control a number of robotic pallets. Such an integrated system may be used to deliver palletized cargo without additional equipment through self-propelled pallets, thereby reducing the number of personnel required to load palletized cargo by reducing the size of the team required to position the pallet inside of the aircraft and removing the need for a k-loader operator. Type: Grant Filed: 2014-01-13 Date of Patent: 2015-07-07 Assignee : STRATOM Inc Patent Number: US8965561B2 Automated warehousing using robotic forklifts Abstract A system for automated inventory management and material handling removes the requirement to operate fully automatically or all-manual using conventional vertical storage and retrieval (S&R) machines. Inventory requests to place palletized material into storage at a specified lot location or retrieve palletized material from a specified lot are resolved into missions for autonomous fork trucks, equivalent mobile platforms, or manual fork truck drivers (and their equipment) that are autonomously or manually executed to effect the request. Automated trucks plan their own movements to execute the mission over the warehouse aisles or roadways sharing this space with manually driven trucks. Automated units drive to planned speed limits, manage their loads (stability control), stop, go, and merge at intersections according human driving rules, use on-board sensors to identify static and dynamic obstacles, and human traffic, and either avoid them or stop until potential collision risk is removed. Type: Grant Filed: 2013-03-15 Date of Patent: 2015-02-24 Assignee : Cybernet Systems Corp Patent Number: US20100006377A1 Pallet counter for lift truck Abstract A method for counting the pallets or loads moved by a lift truck using internal sensors is disclosed. The lift truck includes a weight sensor for weighing a load, a height sensor, for measuring a height of the forks, and a distance sensor for determining whether the vehicle has moved. When the data from each of these sensors exceeds a corresponding minimum value, a vehicle control system increments a pallet counter. A count of the number of pallets moved is therefore maintained without the need for tracking specific pallets of for adding expensive components and devices. Type: Grant Filed: 2008-07-10 Date of Patent: 2010-01-14 Assignee : Raymond Corp
Below are the leading companies profiled in this Automated Pallet Truck Market Report:
Chapter 1 Methodology and Scope