Automated Guided Vehicle (AGV) Market: Overview

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 Insights

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 forklift trucks. 

Lead 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 Insights

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.

Automated 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 facility. 

Automated Guided Vehicle (AGV) Market: Regional Insights

Geographically, the 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 India.

Objective 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.

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.

Key Target Audience:

•      Market research and consulting firms

•      Industry associations

•      Global Automated Guided Vehicle manufacturers

•      Research organizations and consulting companies

•      Organizations, associations and alliances related to Automated Guided Vehicle market

•      Regulatory bodies

Scope of the Report

By Type

•      Unit Load Carrier

•      Forklift Truck

•      Tow Vehicle

•      Pallet Truck

•      Assembly Line Vehicle

By Battery Type

•      Lead

•      Nickel

•      Lithium-Ion

•      Others

By Application

•      Transportation

•      Distribution

•      Storage

•      Assembling

•      Packaging

•      Others

By Navigation Technology

•      Laser Guidance

•      Magnetic Guidance

•      Vision Guidance

•      Inductive Guidance

•      Optical Tape Guidance

•      Others

In addition, the report provides analysis of the Automated Guided Vehicle (AGV) market with respect to the following geographic segments and their high performing regions:

North America

•      U.S.

•      Canada

Europe

•      Germany

•      U.K.

•      Italy

•      France

•      Rest of Europe

Asia Pacific

•      China

•      India

•      Japan

•      Australia

•      Rest of APAC

LATAM

•      Brazil

•      Argentina

•      Rest of Latin America

MEA

•      Saudi Arabia

•      UAE

•      Rest of MEA

Business 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.

Customization 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 report:

Additional Company Information

•      With five additional company detail analysis.

•      Additional country analysis.

•      Detailed segment analysis.