Automated Guided Vehicle Market Size, Analysis

 

Automated Guided Vehicle Market

The Automated Guided Vehicle Market is anticipated to grow at a remarkable CAGR during the forecast period (2020-2027).

The factors driving the growth of Automated Guided Vehicle Market includes growing demand for automated guided vehicles for navigating and transporting heavy vehicles and rising consumers inclination towards e-commerce. As per Statista’s Report, in 2020, more than 2 billion people purchased goods and services online, and the e-retail sales exceeded USD 4.2 trillion worldwide, which will increase the Global Automated Guided Vehicle Market. Moreover, the growing application of Automated Guided Vehicles in end-use industries such as healthcare, manufacturing, food & beverages, and logistics are further increasing the Automated Guided Vehicle Market Share. For instance, Mitsubishi Heavy Industries (MHI) group, tested automated valet parking system at a commercial facility near Tokyo by deploying automated guided vehicle (AGV) robots. In addition, the increasing adoption of industrial automation by large and small-scale companies and integration of advanced technologies such as big data and Artificial Intelligence in Automated Guided Vehicles, are some of the factors augmenting the Automated Guided Vehicle Market Size.

 The notable players operating in the market are Oceaneering International, Inc., E&K Automation GmbH, SSI SCHÄFER FRITZ SCHÄFER GMBH, Hyster-Yale Materials Handling, Inc., Daifuku Co., Ltd., JBT Corporation, Toyota Industries Corporation, Kion Group AG, KUKA AG, Kollmorgen Corp., and Seegrid Corporation among others.

Navigation Technology: Segment Analysis

As per the Automated Guided Vehicle Market Report, the laser-guided segment is anticipated to dominate the market over the forecast period. The increasing use of Automated Guided Vehicles owing to its effective navigation along with its ability to provide flexibility, enhanced accuracy, and increased productivity, are some of the factors boosting the growth of the segment.

Application: Segment Analysis

Based on the application, the distribution segment is projected to expand at a faster CAGR during the forecast period due to rising numbers of factories and increasing demand for AGVs in Distribution centers.

Industry: Segment Analysis

Based on industry, the retail segment is expected to dominate the market over the forecast period due to growing focus on reducing operational cost by bringing automation in material handling.

Regional: Segment Analysis

Based on the region, Asia-pacific is anticipated to grow at a faster CAGR during the forecast period due to rapid urbanization, increasing installations of AVGs by manufacturers in warehouses and distribution center and rising emphasis on ensuring safety and security on production floors by governments in this region.

Market Segmentation

Global Automated Guided Vehicle Market by Type  

  • Tow Vehicles
  • Unit Load Carriers
  • Pallet Trucks
  • Assembly Line Vehicles
  • Forklift Trucks
  • Other Types

Global Automated Guided Vehicle Market by Navigation Technology 

  • Laser Guidance
  • Magnetic Guidance
  • Inductive Guidance
  • Optical Tape Guidance
  • Vision Guidance
  • Others

Global Automated Guided Vehicle Market by Application     

  • Transportation
  • Storage
  • Distribution
  • Assembly
  • Packaging
  • Waste Handling

Global Automated Guided Vehicle Market by Industry          

  • Automotive
  • Manufacturing
  • Food & Beverages
  • Aerospace
  • Healthcare
  • Logistics
  • Retail
  • Other

Global Automated Guided Vehicle Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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