Global Automated Guided Vehicle Market - Industry Insights, Growth Factors, Demand, Key Players and Forecasts to 2024

Automated guided vehicle (AGV) is an automated transport system for safe transport of all material and products without any human restriction to adopt the increasing essential of automation in material handling. Enhanced safety standards at workplaces and mounting requirement for automation in material handling throughout industries are some of the factors driving the growth of the global automated guided vehicle market. Different types of AGV contributed to the automated guided vehicle market size. The market has witnessed high demand for tow vehicle in the coming years as it can shift heavy loads with various trailers and without any manual interface.

Request for Sample Copy of Research Report at: https://www.vynzresearch.com/automotive-transporation/automated-guided-vehicle-market/request-sample

On the basis of type, the automated guided vehicle market is subdivided into pallet truck, tow vehicle, unit load carrier, forklift truck, assembly line vehicle and others. Of all types, tow vehicle accounted the largest share in the market, as it can shift heavy loads with various trailers and without any manual interface.

On the basis of navigation technology the market is subdivided into vision guidance, laser guidance, optical tape guidance, magnetic guidance, inductive guidance and others. Of all the navigation technologies, the vision guidance technology is expected to grow at the fastest rate in the market due to its ability to decrease downtime, lessen infrastructure cost and mounting manufacture and implementation of vision-guided vehicles and mobile robots.

On the basis of industry, the market is subdivided into logistics, aerospace, automotive, healthcare, manufacturing, retail, food & beverage and others. Among the all industries, the automotive industry accounted the largest share in the automated guided vehicle market due to improving automotive manufacturing operations, effectual, and efficient processes and escalating usage of the assembly line AGVs for auto parts fabrication, transmission assembly lines and engine.

On the basis of battery type, the market is subdivided into lead, lithium-ion, nickel-based and others. Among the all battery type, the lead battery accounted the largest share in the automated guided vehicle market due to its mature energy storage technology and have maximum power-to-size ratio.

On the basis of application, the market is subdivided into transportation, storage, packaging, distribution, assembly and others. Among the all applications, the transportation segment accounted the largest share in the automated guided vehicle market as to boost productivity, inhibits infrastructure damages and accidental injuries, decreases prices, and enhances space.

Low labor cost in emerging countries, high switching, installation, and maintenance costs are the major challenges for the growth of automated guided vehicle market. In addition, initial price complication of AGVs and real-time technical disputes are also hindering the growth of the market.

Globally industry players are leveraging market growth through launching new products. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.

Browse Full Research Report at: https://www.vynzresearch.com/automotive-transporation/automated-guided-vehicle-market

Geographically, Europe is the largest automated guided vehicle market due to competitive verge by easing the effectual management of overall warehousing operations. High labor cost, speedy acceptance of automation, mounting need and benefits offered by AGV and mounting need for material handling equipment are also up surging growth of the European automated guided vehicle market.

In addition, Asia-Pacific is observed to witness fastest growth in the market due to rapidly budding e-commerce industry, In addition, several strategic installations of AVGs in India and China, need to ensure safety at workplace, mounting investment in automation sector and growing manufacturing sector are also some of the factors driving ample opportunities for the Asia-Pacific automated guided vehicle market.

Key players in the automated guided vehicle market are catering the demand by investing on technologically advanced AGVs across the globe. In January 2018, KION Group signed a strategic partnership with EP Equipment, a Chinese manufacturer, for entry-level, light-duty warehouse equipment. Daifuku, Kuka, KION Group, Hyster-Yale Materials Handling, JBT Corporation, Seegrid Corporation, SSI Schafer, Toyota Industries, EK Automation and Kollmorgen are the key players offering automated guided vehicle.

About VynZ Research

VynZ Research has been a trusted market research and advisory company, encompass a broad range of business organizations which belong to such diverse sectors as chemical and materials, automotive and transportation, energy and power, consumer goods, healthcare, ICT and other emerging technologies. This rich experience in varied fields has rewarded VynZ, with 60% of repeated clientele.

Contact

VynZ Research
Toll-Free:1-888-253-3960
Website: https://www.vynzresearch.com
Email: support@vynzresearch.com

This release was published on openPR.