Electric Order Pickers Market Size, Share, Growth, and Industry Analysis, By Type (Low Level, Medium Level, High Level), By Application (Warehouse and Logistics, Factories, Retailer, and Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Electric Order Pickers Market REPORT OVERVIEW

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global electric order pickers market size was USD 786.4 million in 2020 and market is projected to touch USD 1316.91 Million By 2031, exhibiting a CAGR of 4.7% during the forecast period.

The global market has witnessed significant growth in recent years, fueled by various factors. One of the driving factors is the growing emphasis on sustainability and environmental consciousness. These pickers offer an eco-friendly alternative to traditional fuel-powered vehicles, reducing carbon emissions and promoting a greener work environment. The ability to operate silently and without exhaust fumes makes them ideal for indoor applications and noise-sensitive areas. With an increasing focus on sustainability in industries worldwide, the demand for these pickers is on the rise, driving market growth.

Technological advancements have also played a crucial role in shaping the global market. Ongoing developments in battery technology and power management systems have led to improved efficiency and longer operating hours for electric order pickers. Lithium-ion batteries, in particular, have gained prominence for their higher energy density and faster charging capabilities, enabling longer operational uptime. Additionally, the integration of advanced technologies like IoT connectivity, telematics, and fleet management systems has enhanced the functionality and productivity of order pickers. These technological innovations have propelled market growth by offering businesses greater control, monitoring, and optimization of their order picking operations.

"COVID 19 Impact: Market Growth Boosted by COVID-19 due to Surge in E-commerce"

The pandemic brought about a surge in e-commerce and the need for efficient order fulfillment processes, driving the demand for order pickers. As consumers shifted towards online shopping, businesses had to adapt to meet the increased demand for fast and accurate order picking and fulfillment. These pickers offered a solution with their ability to navigate narrow aisles, reach high shelves, and enhance picking productivity. The pandemic acted as a catalyst for the adoption of electric order pickers, leading to market growth and opportunities for manufacturers and suppliers in the industry.

LATEST TRENDS

"Automation and Artificial Intelligence to Revolutionize Global Market"

The latest trend in the global electric order pickers market is the integration of automation and artificial intelligence (AI) technologies. This trend is revolutionizing order picking operations by enhancing efficiency, accuracy, and productivity. Electric pickers are now equipped with advanced sensors, cameras, and AI algorithms that enable autonomous navigation, object detection, and collision avoidance. With automation, these order pickers can optimize their routes, pick items more efficiently, and adapt to dynamic warehouse environments. This trend is driven by the need to streamline operations, reduce human error, and increase throughput in fulfillment centers and warehouses. By leveraging automation and AI, electric pickers are transforming the way goods are picked and delivered, leading to improved productivity and customer satisfaction.

Electric Order Pickers Market SEGMENTATION

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• By Type

Based on type the electric order pickers market can be categorized into low level, medium level, and high level.

• By Application

Based on application the electric order pickers market can be categorized into warehouse and logistics, factories, retailer, and others.

DRIVING FACTORS

"Increasing E-commerce Penetration Fuels the Growth of the Market"

The rapid growth of e-commerce is a key driving factor in the electric order pickers market growth. With the increasing popularity of online shopping, there is a growing demand for efficient order fulfillment processes. Electric pickers enable warehouses and fulfillment centers to handle large volumes of orders effectively. These vehicles are designed to navigate narrow aisles and reach high shelves, allowing for quick and accurate order picking. As e-commerce continues to expand globally, the demand for these pickers is expected to rise, driving market growth.

"Focus on Workplace Safety and Ergonomics Boosts the Market"

Workplace safety and ergonomics play a significant role in driving the electric order pickers market. Manual order picking processes can be physically demanding and prone to accidents. Electric pickers offer ergonomic designs, such as adjustable heights, comfortable operator seating, and intuitive controls, to reduce strain on operators and minimize the risk of injuries. The implementation of electric pickers not only improves worker safety but also enhances productivity by creating a safer and more comfortable work environment. As companies prioritize employee well-being and compliance with safety regulations, the demand for electric pickers with enhanced safety features continues to grow.

RESTRAINING FACTORS

"Infrastructure Limitations Impede the Growth of the Market"

One restraining factor in the electric order pickers market is the limitation of infrastructure required for their operation. Electric pickers rely on charging infrastructure and battery management systems to ensure continuous operation. However, the availability of charging stations and the need for adequate power supply infrastructure can pose challenges, especially in certain regions or industrial facilities with limited electrical infrastructure. Without a well-established charging infrastructure, the adoption and scalability of these pickers may be hindered. Overcoming these infrastructure limitations is crucial to fully unlock the potential of the electric order pickers market and facilitate widespread adoption in various industries and geographic locations.

Electric Order Pickers Market REGIONAL INSIGHTS

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"Asia Pacific Emerges as the Dominant Region in the Market due to the Presence of a Strong Manufacturing Base"

The region benefits from a strong manufacturing base for electric order pickers, with several key manufacturers and suppliers operating in countries like China, Japan, and South Korea. This proximity to manufacturing facilities enables efficient supply chain management and reduces lead times, contributing to the region's dominance in the market share.

Overall, the Asia Pacific region's dominance in the electric order pickers market share can be attributed to its robust e-commerce sector, investments in warehouse automation, and a strong manufacturing base, positioning it as a key driver of market growth in the industry.

KEY INDUSTRY PLAYERS

"Key Industry Players to Drive Innovation in the Market "

These companies play a crucial role in shaping the market through their innovative product offerings, extensive distribution networks, and strong customer relationships. They contribute to market growth by continuously investing in research and development to improve the performance, efficiency, and safety features of electric order pickers. These industry players also provide comprehensive after-sales services, including maintenance, training, and technical support, ensuring customer satisfaction and long-term partnerships. Through their market presence and strategic collaborations, these key industry players exert a significant impact on driving the adoption and growth of electric order pickers in various industries worldwide.

List of Market Players Profiled

• Toyota  (Japan)
• Kion Group (Germany)
• Jungheinrich AG (Germany)
• Crown Equipment (U.S.)
• Mitsubishi Logisnext (Japan)
• Hyster-Yale (Netherlands)
• Hyundai Heavy Industries (South Korea)
• Doosan Industrial Vehicles (South Korea)
• Clark Material Handling Company (U.S.)
• EP EQUIPMENT (China)
• Komatsu (Japan)
• Manitou (France)
• Hangcha Group Co., Ltd (China)

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.