Press release
Automated Guided Vehicle Market To Reach US$2.3 bn In 2024 With Growth At A CAGR Of 12.4%
Global Automated Guided Vehicle Market: Overview
Automated guided vehicles are driverless, self-operated computer controlled vehicles which are fitted with guidance and collision avoidance system and can move materials from one place to another, without the need for any human intervention. Reliability, durability and ease in operation of the vehicles are the chief factors on which the quality of these vehicles depends. Automated guided vehicles help to safely transport all kinds of products without any human intervention within distribution, logistics, production and warehouse environments, along with reducing operational costs and increasing profitability and efficiency. AGVs are capable of lifting, shifting and rotating goods, transporting products across vast distances, storing products in deep lanes and delivering these onto the conveyors.
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Global Automated Guided Vehicle Market: Drivers
Increasing demand for AGVs in material handling and increasing need for accuracy and high productivity is driving the growth of the global automated guided vehicle market. The automated guided vehicles combined with radio frequency technology work in line with the Warehouse Control System and the Warehouse Management System to improve accuracy and efficiency since AGVs have little downtime and operate at a fixed rate to meet a predictable metric for operational activity. Further, replacement of conventional batteries with lithium ion batteries is positively influencing the growth of the global market. Thus, the conjoint effect of all these drivers is anticipated to steadily bolster the growth of the global automated guided vehicle market in the coming years.
The e-commerce companies are considering automated guided vehicles as one of their key components in their growth and expansion as these AGVs help to reduce their order processing time. The growing e-commerce industry is thus expected to serve as a prospective area where AGV manufacturers can expand their business. Also when it comes to retail, e-commerce is the fastest growing channel. Therefore, growth of e-commerce and use of AGVs by them is set to create further growth opportunities in the global AGV market. In addition, rapid industrialization and increasing adoption of innovative and better technologies coupled with the emergence of new players in the developing regions of Asia Pacific, Middle East and Africa and Latin America is expected to offer lucrative opportunities for the growth of the global automated guided vehicle market.
Global Automated Guided Vehicle Market: Opportunities
This report on the global automated guided vehicle market highlights the current scenario of the market along with stating the expected growth of the global market during the forecast period. Various political, social, economic and technological factors which are likely to impact the demand of automated guided vehicle have been analyzed to include an exhaustive study of the global market drivers, restraints and opportunities, i.e. the market dynamics under the purview of the report. Further, the key players operating the automated guided vehicle market have been profile thoroughly and competitively across the five geographic regions and their competitive landscape is inclusive of their recent developments related to automated guided vehicles and the distinguishable business strategies adopted by them. To further analyze their market positioning, SWOT analysis has been provided for each of the players. In addition, the report includes the market attractiveness analysis of the segmentation, end-use industry for offering a deep insight into the major application area of the automated guided vehicles. Thus, the global automated guided vehicle market report provides an extensive study of the market along with offering the forecast of the market in terms of revenue (USD Million) from the period of 2016 – 2024.
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Key Players Mentioned in this Report are:
Some of the major players in the automated guided vehicle market are: Toyota Industries Corporation (Japan), Egemin Automation Inc. (U.S.), Bastian Solutions LLC (U.S.), Hyster-Yale Materials Handling Inc. (U.S.), Swisslog Holding AG (Switzerland), Dematic GmbH & Co. KG (U.S.), JBT Corporation (U.S.), E&K Automation GMBH (Germany), Oceaneering AGV Systems (Netherlands) and Seegrid Corporation (U.S.) among others.
The global automated guided vehicle market has been segmented into:
Automated Guided Vehicle Market, by Type
Forklift AGVs
Load Transfer AGVs
Pallet Trucks
Assembly Line Vehicles
Light Load Transporters
Tugger AGVs
Others
Automated Guided Vehicle Market, by End-Use Industry
Distribution & Logistics
Automotive
Aerospace
Healthcare
Retail
Manufacturing
Food & Beverage
Others
Automated Guided Vehicle Market, by Geography: The market is broadly segmented on the basis of geography into:
North America
Europe
Asia Pacific
Middle East and Africa
South America
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Table of Content
Chapter 1 Preface
1.1 Report Scope and Market Segmentation
1.2 Research Highlights
Chapter 2 Assumptions and Research Methodology
2.1 Assumptions and Acronyms Used
2.2 Research Methodology
Chapter 3 Executive Summary
3.1 Market Opportunity Map
Chapter 4 Global Automated Guided Vehicle Market: Market Overview
4.1 Introduction
4.2 Automated Guided Vehicle Market Overview
4.3 Key Trends Analysis
4.4 Market Dynamics: Drivers and Restraints Snapshot Analysis
4.4.1 Drivers
4.3.1.1 Increasing Demand for AGVs in Material Handling
4.3.1.2 Increased Need for Accuracy and Productivity
4.3.1.3 Replacement of Conventional Batteries with Lithium Ion Batteries
4.4.2 Restraints
4.4.2.1 Long Time to Market
4.4.2.2 High Initial Investment and Low Flexibility
4.4.3 Market Opportunities
4.5 Global Automated Guided Vehicles Market Analysis and Forecasts, 2015 – 2024
4.6 Market Attractiveness Analysis
4.7 Automated Guided Vehicle Market: Competitive Landscape
Chapter 5 Global Automated Guided Vehicle Market Analysis: By Type
5.1 Introduction: Type
5.2 Global Automated Guided Vehicle Market Value Share Analysis, By Type
5.3 Global Automated Guided Vehicle Market Projections (USD Million), By Type
5.4 Global Automated Guided Vehicle Market Revenue and Forecast, By Type
5.4.1 Global Forklift AGVs Market Revenue (USD Million), 2015 – 2024
5.4.2 Global Load Transfer AGVs Market Revenue (USD Million), 2015 – 2024
5.4.3 Global Pallet Trucks Market Revenue (USD Million), 2015 – 2024
5.4.4 Global Assembly Line Vehicles Market Revenue (USD Million), 2015 – 2024
5.4.5 Global Light Load Transporters Market Revenue (USD Million), 2015 – 2024
5.4.6 Global Tugger AGVs Market Revenue (USD Million), 2015 – 2024
5.4.7 Global Others Market Revenue (USD Million), 2015 – 2024
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