Automated Guided Vehicle Market Share, Size, Trends, And Business Opportunity Analysis Report 2019 include historic data, with forecast data to 2025. Automated Guided Vehicle Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2025.
An automated guided vehicle (AGV) is a moveable robot that trails along marked lines or wires on the floor, or uses radio waves, vision cameras, magnets, or lasers for navigation. They are frequently used in pulp & paper, metals, newspaper, and manufacturing industries to transport heavy materials around a large industrial building, such as a factory or warehouse. A trailer is attached to the AGV, to move raw materials or finished products. An AGV is also called as a laser guided vehicle (LGV), whereas in Germany it is known as Fahrerlose Transport system (FTS). AGVs offer various benefits, including minimal human operation, less injuries, efficiency, and a high return on investment.
The global automated guided vehicle (AGV) market is expected to grow at a CAGR of 7.8% over the forecast period. The growing e-commerce industry, increasing adoption of industrial automation by small and medium scale enterprises (SMEs), rising demand for automation in material handling due to growing industrial sectors, expansion of the manufacturing sector in Asia Pacific, increased safety regulations in the workspace, and the growing concern over the safe transport of all types of products and materials are some of the key factors driving the global market.
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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.
Geographically, the global automated guided vehicle market has been segmented into four major regions- North America, Europe, Asia-Pacific, and the rest of the world. Europe is held the largest share in global automated guidance vehicle market in 2018 and is projected to grow at a significant rate during forecast period. This can be attributed to the growing demand for material handling equipment across the region. However, Asia-Pacific is expected to witness the highest growth during the forecast period due to the growing e-commerce industry, developing manufacturing sector, and growing adoption of AGVs in China and India due to the growing automotive and electronics industries. The growing investment by manufacturers in emerging economies in the Middle East & Africa and South America is also a factor that helps propel the growth of this market.
The prominent players in the global automated guided vehicle market are Daifuku Co., Ltd (Japan), JBT Corporation (US), Kion Group AG (Germany), Toyota Industries Corporatin (Japan), KUKA AG (Germany), Hyster-Yale Materials Handling, Inc. (US), E&K Automation GmbH (UK), Seegrid Corporation (US), Scott (US), SSI Schaefer (Germany), Oceaneering International, Inc. (US), Swisslog Holding Ltd (Switzerland), ABB (Switzerland), Dematic (US), and Jungheinrich AG (Germany).
The report for global automated guided vehicle market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
The global automated guided vehicle market is expected to see significant growth during the forecast period. The growth of the food and beverage industry in the past few years has accelerated the growth of automated guided vehicle market significantly. Competition among automated guided vehicle manufacturers, increasing government support, and the stringent industry safety standards such as ANSI/ITSDF B56.5-2012 and ASTM International ASTM F45, has encouraged manufacturers to design AGV systems as per the industry safety standards. This is considered as one of the key factors responsible for the growth of this market.
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