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 | 06 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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