Global Automated Guided Vehicle Market Trends, Demand and Forecast To 2025
Market Research Future published a half-cooked research report on the global automated guided vehicle market that contains the information from 2019 to 2025. The global automated guided vehicle market is expected to grow with a CAGR of 7.8% from 2019 to 2025.
Taste the market data and market information presented through more than 100 market data tables and figures spread in 88 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Automated Guided Vehicle Market Information from 2019 to 2025"
An automated guided vehicle (AGV) is a computer-controlled and wheel-based robot, used as a load carrier system, that travels along the floor of a facility without an onboard operator or driver. An AGV is a portable device who’s movement is directed by a combination of software and sensor-based guidance systems. AGVs are used in different industries for processing and handling applications, such as assembly line, kitting, staging, warehousing, and order picking. They provide automated material movement for numerous industries including automotive, beverage, chemicals, and commercial printing.
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Growing industrialization, developing economies in emerging countries, and rapid technological advancements in AGV systems create opportunities for new entrants in the global market. Increased investments in product development will enable strategic mergers with and acquisitions of small startup companies in this market, which will boost the global market during the forecast period. However, the major restraints for the global automated guided vehicle market is high cost of the system.
The global automated guided vehicle market is estimated to witness 7.8% CAGR during the period, 2019 to 2025.
The global automated guided vehicle market is segmented on the basis of vehicle type, technology, application, industry, and region. On the basis of vehicle type, the global market has been segmented into tow vehicle, unit load carrier, fork lift vehicle, pallet trucks, assembly line vehicles, and others. On the basis of technology, the global market has been segmented into traditional guidance, laser guidance, natural features guidance, inductive guidance, and vision guided vehicle. On the basis of application, the global market has been segmented into transportation, distribution, assembly, roll handling, and others. On the basis of industry, the global market has been segmented into automotive, electrical & electronics, logistics & distribution, pharmaceuticals, plastics & polymers, food & beverage, and others.
On the basis of vehicle type, the tow vehicle segment accounted for the largest share in automated guided vehicle market in 2018 and is expected to grow at a significant rate over the forecast period. The tow vehicle has an ability to automatically pick up a load without any human interface or loading/unloading can be done manually and it can move heavy loads with multiple trailers than a single fork truck. Hence, the demand for tow vehicle is growing from various industries.
On the basis of technology, the laser guidance technology segment holds the largest share in the global market during forecast period. This can be attributed to the growing penetration of this type of technology across many industries such as automotive, healthcare, and food & beverage. The growing demand for flexible systems for vehicle movement and accurate navigation, boosts the growth of technology segment in the global automated guided market, further.
On the basis of industry, the automotive industry segment is projected to dominate the market throughout the forecast period due to the growing manufacturing operations in countries such as the US, Canada, China, Japan, Germany, and India. Furthermore, the increasing integration of industrial automation solutions is expected to create opportunities for the market, globally.
The key players operating across the value chain of the automated guided vehicle market are SSI Schaefer (Germany), Oceaneering International, Inc. (US), Swisslog Holding Ltd (Switzerland), Jungheinrich AG (Germany), ABB (Switzerland), Dematic (US), Hyster-Yale Materials Handling, Inc. (US), E&K Automation GmbH (UK), Seegrid Corporation (US), Scott (US), Daifuku Co., Ltd (Japan), JBT Corporation (US), Kion Group AG (Germany), Toyota Industries Corporatin (Japan), and KUKA AG (Germany).
The key development strategies adopted by these players are- development of new products and product launches, contracts, acquisitions, partnerships, and business expansions to fulfil the growing needs of the various end use industry operating in the market. For instance, in August 2018, SSI Schaefer expanded its product portfolio by signing a cooperation contract with the Austrian AGV specialist, DS Automotion.
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the global automated guided vehicle market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both, historical market values and pricing and cost analysis.
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