Automated Guided Vehicle Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Automated Guided Vehicle Market: Overview
Automated guided vehicles (AGVs) are fully automated transport systems that function with unmanned vehicles. They are used for the safe transport of goods in production, warehouse, logistics, and distribution environments without human intervention. AGVs are employed to reduce costs and to enhance efficiency and profitability.
Automated guided vehicles operate on a multitude of navigation technologies such as magnetic, laser, inductive, and optical tape within production facilities. The type of AGV deployed is dependent on the application such as transportation, storage, distribution, assembly, and packaging.
Global Automated Guided Vehicle Market: Key Trends
The increasing demand for automated solutions from a host of industries is primarily driving the automated guided vehicles market. Automated guided vehicles offer a multitude of advantages such as reduction in operational cost, enhanced workforce safety, and decrement in production time. These vehicles extend dynamic design solutions and offer cost advantages that conventional conveyor systems lack. Innovative technologies such as laser and vision are instrumental in creating growth opportunities for the automated guided vehicle market.
Growing implementation of mobile robots across the world and measures to enhance workplace safety and productivity are some other factors leading to the adoption of AGVs. AGVs that are equipped with wireless navigation technologies help eliminate the need of expensive retrofitting, thereby leading to their increased adoption.
Moreover, preference for lithium-ion based batteries in place of conventional batteries and need to reduce dependency on labor for cost and productivity reasons are furthering the adoption of AGVs in industrial operations.
However, factors such as high initial investment for AGVs and high cost involved in switching manual operations to automated solutions is slowing this market’s growth.
The emergence of flexible manufacturing system and high demand for intelligent and customized AGVs is expected to present opportunities to the AGV market in the coming years. In addition, the rising demand for frozen food in Asia Pacific that needs efficient handling is also leading to the adoption of AGVs. The rising demand for material handling equipment is also anticipated to have a positive bearing on the market’s growth in the future.
Global Automated Guided Vehicle Market: Market Potential
Industrial robotic automation is spreading wings from traditional automotive and electronics industries to food and agriculture to attain new levels of efficiency and workplace safety. The use of automation in the food processing plants lies in eliminating contamination that directly translates into revenue. Moreover, automation saves labor cost issues and medical bills due to repetitive, dangerous, and exhausting jobs.
Industrial robots can easily pick and place food items without risk of introducing bacteria and at a faster rate than human worker. Not only this, advanced vision systems even have the capability to detect external as well as internal defects in food products.
Global Automated Guided Vehicle Market: Regional Outlook
Europe is expected to be the leading regional market for automated guided vehicle over the forecast period. However, Asia Pacific is expected to display the leading growth rate for the same period. The growth of the Asia Pacific market is attributed to the surge in manufacturing and production plants along with expansion of manufacturing plant capacities in countries such as China, Japan, and Australia.
Global Automated Guided Vehicle Market: Competitive Landscape
The leading players in the global guided automated vehicle market include Daifuku Co. Ltd., KION Group, Toyota Industrial Corporation, Kollmorgen, Seegrid Corporation, SSI Schaefer AG, Dematic GmbH & Co. Ltd., JBT Corporation, KUKA AG, Hyster-Yale Materials Handling Inc., E&K Automation Gmbh, and Egemin International NV.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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