Wilmington, Delaware, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Automated Pallet Truck Market by Type (Pallet, Transporting Truck, and Pallet Stacking Truck) and Application (Production and Manufacture, Distribution and 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% from 2024 to 2033. 

Prime Determinants of growth   

The overall trend towards industrial automation, driven by the need for increased efficiency, productivity, and cost reduction, is a significant determinant of the automated pallet trucks market growth. As companies across various industries adopt automation technologies to streamline their operations, the demand for automated pallet trucks as part of automated material handling systems increases. The rapid growth of e-commerce globally is a major driver of the automated pallet trucks 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 processing times, and improving inventory management in e-commerce fulfillment centers.  

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Segment Highlights  

The pallet transport truck segment is expected to grow faster throughout the forecast period.  

The pallet transport truck segment is anticipated to experience faster growth in the automated pallet truck market due to a vast variety of palletized commodities in different shapes, sizes, and weights which may be handled by pallet transportation vehicles because of their extreme versatility. Owing to their effective design for moving pallets of goods throughout warehouses, distribution centers, and industrial sites, they are essential for material handling activities in a variety of industries. Pallets are the most common unit of loading and transportation for goods in many industries, including retail, manufacturing, and logistics. As a result, pallet transporting trucks cater to a vast market segment and address the needs of a wide range of customers who rely on palletized goods for storage, transportation, and distribution.  

Automated pallet transporting trucks significantly improve operational efficiency and productivity by automating the movement of pallets within facilities. They can transport multiple pallets simultaneously, travel at consistent speeds, and execute predefined routes accurately, minimizing delays, optimizing workflow, and maximizing throughput.  

The production and manufacture segment is expected to grow faster throughout the forecast period.  

The production and manufacture segment is anticipated to experience faster growth in the automated pallet truck market due to production and manufacturing facilities across industries such as automotive, food and beverage, pharmaceuticals, consumer goods, and electronics heavily rely on automated material handling solutions to streamline their operations. Automated pallet trucks play a crucial role in these environments by efficiently transporting materials and finished products, contributing to high demand from this segment. Production and manufacturing facilities often have extensive warehouse spaces and complex material flow requirements. As a result, they tend to deploy a large number of automated pallet trucks to handle the movement of palletized goods within their facilities. This large-scale deployment contributes to a significant market share for the production and manufacture segment.  

Production and manufacturing operations often require tailored automation solutions that can integrate seamlessly with existing equipment and workflows. Manufacturers of automated pallet trucks typically offer customization options and integration services to meet the specific needs of production and manufacturing facilities, further driving demand from this segment.  

North America to maintain its dominance by 2032  

North America boasts 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 enhanced efficiency, accuracy, and scalability, making them indispensable in these sectors and driving their market share.  

Key Players

• Aichikikai techno system co., ltd  
• Amazon Robotics  
• ATAP, Inc  
• Daifuku  
• Dematic  
• JBT Corporation  
• Meidensha  
• Mitsubishi Caterpillar Forklift  
• Seegrid Corporation  
• Swisslog  

The report provides a detailed analysis of these key players in the global automated pallet truck market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.   

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Recent Development

• In March 2023, Big Joe has introduced an autonomous pallet mover 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 mover capable of autonomous operation. The autonomous pallet mover streamlines pallet transportation tasks within warehouses and distribution centers, offering increased efficiency, flexibility, and productivity. It leverages AI algorithms and sensor technology to navigate warehouse environments, pick up and transport pallets, and interact safely with humans 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 has partnered with Kollmorgen, a leading provider of motion control and automation solutions, to develop automated forklifts. This collaboration aims to integrate Kollmorgen's advanced automation technology with Doosan's expertise in industrial vehicles, enhancing the capabilities of forklifts to operate autonomously and efficiently in warehouse and logistics environments.  
• In March 2024, Tompkins Robotics' PickPallet automated pallet truck enhances industrial efficiency by automating the process of picking and transporting palletized goods within warehouses and distribution centers. This robotic system utilizes advanced robotics and artificial intelligence technologies to perform tasks traditionally carried out by human workers.  
• In March 2024, Tompkins Robotics' PickPallet automated pallet truck enhances industrial efficiency by automating the process of picking and transporting palletized goods within warehouses and distribution centers. This robotic system utilizes advanced robotics and artificial intelligence technologies to perform tasks traditionally carried out by human workers.  
• In February 2024, Grenzebach developed a new automated forklift truck specifically designed for transporting Euro pallets. This innovative solution streamlines pallet handling operations within warehouses and distribution centers.   

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