Automated Guided Vehicle Market Trends 2019 – 2025 Astonishing Growth | Hyster-Yale Materials Handling, Toyota Industries Corporation, Oceaneering AGV Systems, Daifuku Co., Dematic Corp., JBT Corporation
The material handling equipment demand in the automated guided vehicle market is increasing to aid operational efficiency in the industrial processes and increasing labor costs. Work safety initiatives across various manufacturing industries and the need for higher productivity are expected to support the automated guided vehicle market growth.
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Flexible manufacturing technologies and high demand for smart & customized equipment are creating high product demand owing to reduced operational time benefits. Technical advancement in the manufacturing sector is leading to the adoption of highly automated products and solutions. These products are gaining popularity in the healthcare sector due to features such as high efficiency and full programmability.
In the automated guided vehicle market, manufacturing application is growing rapidly due to the growing implementation of automation technologies in production, transportation, and warehousing processes. The manufacturing automation trend, limited availability, and high cost of labors for these activities are promoting industry development. This equipment is integrated with various sensors and tracking systems to avoid obstacles and support consistent work operations. Utility cost incurred during the manufacturing process is substantially reduced by the use of this equipment and results in gaining inventory efficiency. The increasing need for efficiency and reduced time for catering to the rising consumer demand led to the adoption of several automation products.
In the automated guided vehicle industry, laser target navigation technique is expected to gain high traction owing to its implementation across application industries. This technique offers several benefits including quick installation and high flexibility for layout changes and expansion to other layouts. Laser target navigation provides better accuracy and reliability due to the use of continuous position verification technique over other options. This system uses area mapping and material tracking techniques for enhanced navigation. This navigation supports dynamic control of blocking and traffic management, further expanding the market offerings.
The Asia Pacific automated guided vehicle market is expected to grow rapidly owing to the development of the manufacturing sector in this region. China is one of the largest exporter and manufacturer of goods with the presence of several manufacturing companies. Easy & cheap availability of raw materials & components in the regions is driving the industry expansion.
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The players operating in the automated guided vehicle market include Hyster-Yale Materials Handling, Toyota Industries Corporation, Oceaneering AGV Systems, Daifuku Co., Dematic Corp., JBT Corporation, and Bastian Solutions LLC. Several industry players have adopted growth strategies such as new product launches, innovating new technologies, developing application-specific solutions, mergers & acquisitions, etc.
Automated Guided Vehicle Market, By Product Type
• Unit Load Carriers
• Towing Vehicles
• Pallet Trucks
• Assembly Line Vehicles
Automated Guided Vehicle (AGV) Market, By Navigation Technology
• Heat Map
• Laser Guidance
• Magnetic Guidance
• Vision Guidance
Market, By End-Use
• Food & Beverage
Corporate Sales, USA
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