Global Automated Guided Vehicle Market 2017 - 2027 to Witness Significant Growth Due to Increased Demand for Automation - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 3, 2021--
The “Global Automated Guided Vehicle Market, By Product Type (Tow Vehicles, Others), By Battery Type (Lead, Others), By Navigation Technology (Laser, Others), By Application (Assembly, Others), By End User Industry, Estimation & Forecast, 2017 - 2027” report has been added to ResearchAndMarkets.com’s offering.
The global automated guided vehicle market held a market value of USD 2,931.8 Million in 2020 and is forecasted to reach USD 5,519.1 Million by the year 2027. The market is anticipated to witness a growth rate of 10.3% over the forecast period.
The market volume in 2020 was about 1,09,400 Units and this volume is expected to grow at a rate of 9.5% till 2027.
Automated guided vehicles are wheel-based and computer-controlled load carriers, which can travel on a facility’s floor without an onboard driver or operator. A combination of sensor-based guidance systems and software directs their movement.
The market is anticipated to grow owing to the growing demand for automation in materials across the handling processes in various industries. Furthermore, the advanced material technology coupled with the growing demand for AGV from the retail sector is also expected to boost market growth.
The high installation, maintenance, and switching costs are expected to negatively impact the market growth. Due to these high costs, manufacturers are likely to not choose the automated guided vehicles, which restrain the market growth. During the COVID-19 pandemic, the automated guided vehicles market faced huge losses due to the closure of manufacturing facilities and low or negligible demand from the end-users in the industry.
Growing demand for automated guided vehicles from the retail sector
The e-commerce industry globally is growing at a fast pace, especially in areas such as online retailing combined with high urban density and elevated customer expectations for shorter delivery times. Due to the increasing customer demands, retail companies and manufacturers are shifting to novel material handling and automated solutions. Automated guided vehicles ease the rising pressure faced by online retailers for shipping customer orders efficiently with reduced fulfillment costs. This is anticipated to fuel the growth in the market.
Increasing demand for automation in material across handling processes in various industries
The increasing need for high efficiency in healthcare, automotive, food & beverages, and e-commerce industries, among others is boosting the demand for automated guided vehicles. Industrial facilities benefit from the AGV-enabled automation, which can meet the requirements related to the reduction of production time and improving the material handling capacity. It also is likely to reduce the chances of human errors and enhance the safety of individuals, while ensuring production volumes and also increasing repeatability and accuracy. Using automated guided vehicles also allows for computerized control of receiving assembled parts, just in time delivery of raw materials, and also the accurate tracking of shipped goods. Therefore, this is increasing the demand for automation in materials across handling processes in various industries, hence fuelling the market growth.
The global Automated Guided Vehicle market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Automated Guided Vehicle market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Automated Guided Vehicle market report answers questions such as:
- What is the market size and forecast of the Global Automated Guided Vehicle Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Automated Guided Vehicle Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Automated Guided Vehicle Market?
- What is the competitive strategic window for opportunities in the Global Automated Guided Vehicle Market?
- What are the technology trends and regulatory frameworks in the Global Automated Guided Vehicle Market?
- What is the market share of the leading players in the Global Automated Guided Vehicle Market?
- What modes and strategic moves are considered favorable for entering the Global Automated Guided Vehicle Market?
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global AGV Market
Chapter 4. Global AGV Market Overview
Chapter 5. AGV Market Analysis, By Product Type
Chapter 6. AGV Market Analysis, By Battery Type
Chapter 7. AGV Market Analysis, By Navigation Technology
Chapter 8. AGV Market Analysis, By Application
Chapter 9. AGV Market Analysis, By End-user Industry
Chapter 10. AGV Market Analysis, By Region/Country
Chapter 11. North America AGV Market Analysis
Chapter 12. Europe AGV Market Analysis
Chapter 13. Asia Pacific AGV Market Analysis
Chapter 14. Japan AGV Market Analysis
Chapter 15. Middle East & Africa AGV Market Analysis
Chapter 16. South America AGV Market Analysis
Chapter 18. Company Profile
- Bastian Solutions, Inc.
- Daifuku Co., Ltd.
- E&K Automation Gmbh
- Elettric80 S.P.A.
- Fetch Robotics, Inc.
- Hyster-Yale Materials Handling, Inc.
- Invia Robotics, Inc.
- Kmh Fleet Solutions
- Locus Robotics
- Schaefer Systems International, Inc.
- Seegrid Corporation
- Swisslog Holding Ag
- System Logistics Spa
- Toyota Industries Corporation
- Seegrid Corporation
- Swisslog Holding Ag
For more information about this report visit https://www.researchandmarkets.com/r/ffwwyx
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INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE
SOURCE: Research and Markets
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PUB: 09/03/2021 04:12 AM/DISC: 09/03/2021 04:12 AM