Automated Guided Vehicle (AGV) market will bolster due to rising demand for automation in material handling, emerging E-Commerce industries, and improving safety standards at workplaces
Published | September 2019
According to BlueWeave Consulting, Global Automated Guided Vehicle (AGV) Market is projected to exhibit significant growth during 2019-2025. Modernization and globalization are leading to the adoption of the latest technology across sectors and enhancing the growth of the market. The flexible route mapping, easy implementation, high accuracy, and easy scalability are some of significant factors leads to the rising demand of AGV in global market. Industrial automation helps reduce inventory damages and improve material handling in production facilities, fueling the demand in the global AGV market.
Automated guided vehicles come with various navigation technologies such as laser guidance, magnetic guidance, vision guidance, and natural guidance which improve the maneuverability of these vehicles globally. Their usage simplifies work processes and reduces the burden of repetitive work for humans, thereby enhancing their quality of life. Factors such as increase in wastage due to product damage and delays caused by accidents due to human error are attributing to the growth of the market.
Among type, Tow vehicle segment holds the largest market share of the automated guided vehicle (AGV) market during the forecast period
Tow vehicles occupied more than half of the market share in 2018. The capacity of tow vehicles to lift heavy loads over long distances is high and primarily contributing to the growth of this segment. Tow vehicles helps in decreasing the operational costs. Tow vehicles used in industries such as automotive, aerospace, retail, and food and beverages where the movement of products is high over long distances sometimes between buildings, outdoors, or very large distributed systems.
Europe accounts for the lion’s share of the global automated guided vehicle (AGV) market during the forecast period
Geographically, the automated guided vehicle (AGV) market analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is the leading region of the overall AVG market, followed by North America. The exponential progress of the online retail and automotive industries driving the growth of the European AGV market. The market is driven by growing demand for material handling equipment and rapid adoption of automation solutions by incumbents in the manufacturing industry. In European countries, Manufacturers have been adopting automated solutions to reduce the overall operational cost. France, Germany and the UK are the largest revenue generators in the automated guided vehicle market in the European region.
Global Automated Guided Vehicle (AGV) Market: Competitive Landscape
Companies such as Daifuku, JBT Corporation, Kion Group, Toyota Industries, Kuka, Hyster-Yale Materials Handling, EK Automation, Seegrid Corporation, Kollmorgen, SSI Schafer, JBT Corporation, Balyo Inc. (Balyo SA), Elettric80 SpA, Transbotics are the leading players of market across the globe.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of global automated guided vehicle (AGV) market size & forecast. The report promises to provide state-of-the-art technology of automated guided vehicle production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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