Automated Guided Vehicle (AGV)
Automated Guided Vehicle
(AGV) market is estimated to be one of the most lucrative markets in the
automotive sector and projected to grow at a significant rate during the
forecast period 2019-2025. Rising automation demand in material handling across
industries, emerging e-commerce industry, and the growing requirement for
workplace safety standards. Automated guided vehicles are programmed to ensure
safety & security and equipped with cameras, lasers, and other sensors
which allow them to operate within the industry, plant, or company safely.
Their usage simplifies work processes and reduces the burden of repetitive work
for humans, thereby improving their quality of life.
AGV offers several benefits,
mainly augmenting the efficiency of warehousing operations and logistics
management processes. Automated guided vehicles can do material handling
operations dependably and effectively. Automated guided vehicles (AGVs) have
wide-spread applications in material handling across numerous industries like
automotive, manufacturing, Food & Beverages, healthcare, retail &
logistics, and others, to address the increasing need for automation in material
handling. Growing productivity due to improved supply chain processes, rising
demand for material handling equipment to enhance operational efficiency in
industrial processes, and the increasing cost of skilled labor are key factors
driving the market.
Automated Guided Vehicle (AGV) Market: Type
Based on type, the Automated
Guided Vehicle (AGV) market segmented into the Unit Load Carrier, Forklift
Truck, Tow Vehicle, Pallet Truck, and Assembly Line Vehicle. Among all, the tow
vehicle is the leading segment type during the forecast period 2019-2025,
followed by pallet trucks. Tasks like material handling, pallet handling, and
finished product handling tend to involve safety concerns. The tow vehicle,
also acknowledged as a tugger pulls non-powered carts which carry heavy loads,
thus allowing a rise in capacity and efficiency, when compared to traditional
batteries accounted for the largest market share in 2017
Based on battery type, the
Automated Guided Vehicle (AGV) market segmented into Lead, Nickel, Lithium-Ion,
and Others. Lead batteries accounted for the largest share of the overall AGV
during the forecast period. Lead-acid batteries offer reversibility, enhanced
safety, stable voltage, long service life, and are suitable for a wide range of
applications. Lead-acid is among the oldest energy storage devices, used in
several applications and supports high-power charge and discharge and lead-acid
batteries are cheaper than lithium-ion batteries. The lithium-ion battery segment
is projected to witness the highest CAGR over the forecast period.
Automated Guided Vehicle (AGV) Market: Application
Based on application, the
Automated Guided Vehicle (AGV) market bifurcated into Transportation,
Distribution, Storage, Assembling, Packaging, and Others. Transportation
segment leads the entire automated guided vehicle market. Transportation
systems promptly and efficiently connect the receipt of goods, production,
order picking, and material shipment within the plant. Enterprises upgrading
the existing facilities and building new facilities are aggressively adopting
modern retrieval, other material handling equipment and automated storage
systems as part of their efforts to save on labor costs and enhance efficiency
and productivity. Packaging is the second leading segment after transportation.
Guided Vehicle (AGV) Market: Navigation Technology Insights
Based on navigation
technology, the Automated Guided Vehicle (AGV) market segmented into Laser
Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Optical Tape
Guidance, and Others (Dead Reckoning Guidance, Inertial Guidance, and Beacon
Guidance). Laser Guidance navigation technology has outnumbered other
technologies in the AGV market over the forecast period. Laser guidance
navigation technology provides a flexible, accurate, reliable, and secure form
of navigation. The vision guidance segment is anticipated to witness a
remarkable CAGR over the forecast period. Owing to their capability to reduce
downtime and minimize infrastructure costs as users are not required to modify
the existing infrastructure for installing these systems in an industrial
Automated Guided Vehicle (AGV) Market: Regional
Automated Guided Vehicle (AGV) market analyzed across North America, Europe,
Asia Pacific, Middle East & Africa, and Latin America. In 2018, Europe was
the leading region of the AVG industry and projected to lead the overall
industry during the forecast period. 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.
Asia-Pacific is the fastest-growing region and expected to witness highest CAGR
owing to the fast-growing e-commerce industry, a booming manufacturing sector,
and several planned installations of AGVs in emerging economies like China and
of the Study:
To analyze and forecast market size of the
Global Automated Guided Vehicle (AGV) market, in terms of value.
To examine the careful market segmentation
and forecast the market size, in terms value, on the basis of region by
segmenting Automated Guided Vehicle (AGV) market into five regions, namely,
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
and their leading countries.
To outline, categorized and forecast the
Global Automated Guided Vehicle (AGV) market on the basis of type, battery
type, application, and navigation technology.
To examine competitive developments like
technological advancement, services, and regulative framework within the Global
Automated Guided Vehicle Market.
To highlight the impact analysis of the
factors, affecting the market dynamics such as drivers, restraints,
opportunities, and challenges.
To strategically profile the key players
and comprehensively analyze their market shares along with detailing the
competitive landscape for market leaders.
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.
Market research and consulting firms
Global Automated Guided Vehicle
Research organizations and consulting
Organizations, associations and alliances
related to Automated Guided Vehicle market
of the Report
Unit Load Carrier
Assembly Line Vehicle
Optical Tape Guidance
addition, the report provides analysis of the Automated Guided Vehicle (AGV)
market with respect to the following geographic segments and their high
Rest of Europe
Rest of APAC
Rest of Latin America
Rest of MEA
Questions answer by the report
How will the market drivers, restraints and
opportunities affect the market dynamics?
What will be the market size in terms of
value and volume and market statistics with detailed classification
Which segment dominates the market or
region and one will be the fastest growing and why?
A comprehensive survey of the competitive
landscape and the market participant players
Analysis of strategy adopted by the key
player and their impact on other players.
Scope for the Client
Client satisfaction is our first and last priority. And
that’s why BlueWeave Consulting offers customization according to Company’s
specific needs. The following customization options are available for the
With five additional company detail
Additional country analysis.