Global Automated Guided Vehicle Market to reach USD 3.7 billion by 2025.
Global Automated Guided Vehicle Market valued approximately USD 1.79 billion in 2017 is anticipated to grow with a healthy growth rate of more than 8.56 % over the forecast period 2018-2025. The rise in demand for material handling equipment and speedy adoption of automation in various industries are the major factors driving the growth of the Automated guided vehicles market. Automated guided vehicles are programmed mobile vehicles which are mostly used in industries for transportation of materials around a manufacturing facility. These transport systems are capably functioning without driver’s operation.
They increase efficiency decrease the damage caused to goods by reducing overheads and by restricting number of employees deployed to the duty. The vehicles consist of peripheral and on-site components along with stationary control system. The automated guided vehicles are designed individually according to specific environmental conditions they will be used. AGVs are widely used in areas of production, warehousing, logistics, and distribution since they ensure profitability through accurate and efficient operations.
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The regional analysis of Global Automated Guided Vehicle Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The market is largely dominated by Europe because of the exceptionally high labor cost in this region. Europe held the largest share of the global AGV market in 2017, while APAC is the most promising region for the AGV market, and the market in APAC is expected to witness the highest CAGR because of the region’s fast-growing e-commerce industry, a booming manufacturing sector, and numerous planned installations of AGVs in emerging economies such as China and India.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Unit Load Carrier
Assembly Line Vehicle
By Navigation Technology:
Optical Tape Guidance
Food and Beverages
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Syniverse Technologies LLC, Daifuku, JBT Corporation, Kion Group, Toyota Industries, Kuka, Hyster-Yale-Materials Handling, EK Automation, Seegrid Corporation, Kollmorgan and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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Target Audience of the Global Automated Guided Vehicle Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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This post was originally published on Trading Herald