Forklift Truck Market: Impact of Automated Manufacturing Facilities First developed in the early 20th century by companies such as Clark and Yale & Towne Manufacturing, forklifts are powered industrial trucks used to lift and move materials across short distances. The two power-operated prongs at the front of the vehicle can slide under heavy loads and then be raised for stacking as well as moving objects in shipping depots, warehouses, etc. As per Inkwood Research, the global forklift truck market is set to grow with a CAGR of 6.60% over the forecast years of 2023 to 2032. The market is set to capture a revenue share of $130.75 billion, reaching a volume of 2546.21 thousand units by 2032.
How Automation is Restructuring the Production Space The automation of manufacturing facilities has been a game-changer in the avenue of logistics and supply chain management. Accordingly, some of the key advantages of automation in manufacturing facilities include –
More efficient use of materials Higher production rates and increased productivity Improved safety and reduced costs Reduced factory lead times Shorter workweeks for labor Better product quality
With increased automation in warehouses and factories, the demand for efficient and smart material handling solutions has surged. Forklift trucks have proven to be the optimal solution in this