Automated Guided Vehicle Market Comprehensive Study Explores Huge Growth by 2026 | Toyota Industries Corporation, KUKA AG, Daifuku Co. Ltd., Bastian Solutions, Inc., JBT Corporation, Swisslog Holding AG, Seegrid Corporation

Europe generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Rapid industrialization and increasing automation in the region drive the Automated Guided Vehicle Market growth. Introduction of new advanced technologies and increasing applications in automotive, aerospace, electronics and healthcare sectors is expected to support market growth. Growing demand from automotive industry for high quality products, along with increasing labor costs encourages companies to invest in automation, thereby augmenting growth.

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The worldwide Automated Guided Vehicle market is anticipated to reach USD 3,977.8 million by 2026 according to a new study published by Polaris Market Research. In 2017, the automotive sector dominated the global market, in terms of revenue. Europe is expected to be the leading contributor to the Automated Guided Vehicle Market revenue during the forecast period.
There has been a high demand for automation in the global market.

Companies are automating processes to reduce cost, save time and deliver better quality products. With stiff competition existing in the global market, companies are automating their processes for better quality and increased productivity. These vehicles automate internal processes and reduce the workload of employees, by working in collaboration with workers for better efficiency. Due to stringent safety regulations, companies are forced to employ Automated Guided Vehicles for dangerous and hazardous environment conditions. Automation of manufacturing processes was earlier restricted to only automotive sector. Now, industries such as healthcare, aerospace, food and beverage are also adopting the automated vehicles solutions. Increasing need of automation in various industries is a key factor driving the growth of the Automated Guided Vehicle Market.

Growing need for automation and increasing labor costs fuel the market for adoption of AGV. Use of these automated vehicles increases productivity, and efficiency, while saving time and costs. The increasing demand from industries including healthcare, defense, aerospace, agriculture, and food and beverage is expected to provide growth opportunities in the coming years. Emerging and untapped markets of developing economies further provide growing opportunities to key players in the market. Increasing investments, research and development further boosts the growth of the Automated Guided Vehicle Market.

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With ever-increasing labor costs existing in most of the countries, companies are turning towards AGVs to save costs and time. Their usage increases efficiency while reducing wastage. They also eliminate chances of faults occurring due to human errors. These vehicles can be operated with the help of software, thereby saving the expense spent in training and management of labor. Unavailability of skilled labor to manage the processes along with high labor costs pushes companies towards automation and supplements the growth of this market.

The various end-users of AGVs include automotive, aerospace, healthcare, food and beverage, and others. In 2017, automotive accounted for the largest share in the Automated Guided Vehicle Market, and is estimated to grow at a substantial rate during the forecast period. Companies use these vehicles in the automotive sector to save cost and increase their production. The key factors driving this market include increasing labor costs, new safety regulations, and need for increased efficiency. Use of AGVs in the automotive industry enables manufacturers to achieve high quality, reliability, economic efficiency and less product life cycle cost.

The well-known companies profiled in the Automated Guided Vehicle Market include: -
• Toyota Industries Corporation
• KUKA AG
• Daifuku Co. Ltd.
• Bastian Solutions Inc.
• JBT Corporation
• Swisslog Holding AG
• Seegrid Corporation
• Baylo Inc.
• EK Automation GmbH
• Kion Group AG

These companies launch new products and collaborate with other market leaders to meet the increasing needs and requirements of consumers.

TOC of Automated Guided Vehicle Market:
Chapter 1. Overview and Scope
Chapter 2. Market Summary
Chapter 3 Automated Guided Vehicle Market Size and Forecast
Chapter 4. Dynamics and Segmentation
Chapter 5. Detailed Insight on Key Company
Chapter 6. Research Methodology and Reference
Chapter 7. Competitive Landscape
TOC Continued…...!!!

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