Media releases are provided as is by companies and have not been edited or checked for accuracy. Any queries should be directed to the company itself.
  • 10 October 2019 21:11

Automated Guided Vehicles Market Surpass USD 7.4 Billion

Increasing need for Automated Guided Vehicles (AGV), especially from the development and car ventures, is assessed to give a fillip to the market during the forecast period.

The global Automated Guided Vehicles (AGV) market value is expected to surpass around USD 7.4 billion by 2026, this market is anticipated to grow with 16.7% CAGR during the forecast time period 2019 to 2026.

AGVs are changing the manner in which materials can be moved inside manufacturing and distribution offices. In a generation domain where a few activities are completed at the same time, these vehicles can guarantee unsurprising and solid exchange of crude materials and in addition made items starting with one point then onto the next inside the office, along these lines wiping out any potential disturbance underway. These vehicles can work securely around structures, apparatus, and representatives, as they are outfitted with adornments, for example, camera vision and LiDAR sensors. These can help in recognizing intersections, distinguishing floor signs, and keeping away from crashes with obstructions.

Download Free Sample Copy to Get More Report Insights@

Manufacturing plants and warehouses centers are progressively conveying material handling hardware for different exercises, for example, finding stock, picking orders, and moving products and raw materials. Transportation and logistics firms are especially under strain to help the effectiveness of their tasks in accordance with developing interest for their administrations. They are subsequently vigorously putting resources into such hardware. Expanding interest for material taking care of hardware is required to support the AGV showcase over the forecast period.

The market is seeing a dynamic change from lead-corrosive batteries to lithium-particle batteries. Lithium-particle batteries offer a few focal points over lead-corrosive variations. They will in general be lighter and minimized. In addition, they can charge quicker, offer longer runtimes, and bolster more charge cycles. Consequently, they are viewed as perfect for AGVs, as they require not be charged much of the time amid working movements or in 24x7 working conditions. AGVs running on lithium-particle batteries can likewise offer higher round-trip efficiencies.

The global Automated Guided Vehicles (AGV) market is segmented into type, navigation, end-user, application, and region.On the basis of type, the global Automated Guided Vehicles (AGV) market is segmented into tow vehicle, unit load carrier, pallet truck, forklift truck, hybrid vehicles, and others. On the basis of navigation, the global Automated Guided Vehicles (AGV) market is segmented into laser guidance, magnetic guidance, vision guidance, inductive guidance, natural navigation, and others. On the basis of application, the global Automated Guided Vehicles (AGV) market is segmented into logistics and warehousing, assembly, packaging, trailer loading and unloading, raw material handling, and others. Logistics and Warehousing is bifurcated into transportation, distribution, cold storage, wholesale & distribution, and cross-docking. On the basis of end-user, the global Automated Guided Vehicles (AGV) market is segmented intomanufacturing sector and wholesale and distribution sector. Manufacturing sector is bifurcated into Automotive, Aerospace, Electronics, Chemical, Pharmaceuticals, Plastics, Defense, FMCG, Tissue, and Others. Wholesale and distribution sector is also further segmented into E-commerce, Retail Chains/Conveyance Stores, Grocery Stores, and Hotels and Restaurants. On the basis of region the global Automated Guided Vehicles (AGV) market is bifurcated into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.

Europe captures the worldwide market in 2018 and is anticipated to hold its lead over the forecasted time frame. The market is essentially determined by expanding need for material handling equipment of hardware and fast appropriation of computerization arrangements by officeholders in the manufacturing business.

The e-commerce business industry has been developing impressively in rising economies, for example, China and India. This is provoking a few web based business organizations to think about a raid in these territorial markets. Rivalry in the online business industry is escalating thusly and industry occupants are attempting to separate themselves by decreasing time taken to convey items to end clients. Conveying AGVs in stockrooms can help web based business organizations in computerizing intralogistics errands, for example, arranging and picking, in this manner increasing proficiency.

Key Players

The key players catering to the global Automated Guided Vehicles (AGV) market are Transbotics, Swisslog Holding Ltd., System Logistics Spa, Egemin Automation Inc., Schaefer Systems International, Inc., Bastian Solutions, Inc., Locus Robotics, Daifuku Co., Ltd., inVia Robotics, Inc., Dematic Corp., Fetch Robotics, Inc., JBT Corporation, Elettric80 SpA, Seegrid Corporation, Kollmorgen, Toyota Industries Corporation, KMH Systems, Inc., Hyster-Yale Group, Inc., EK Automation, and Balyo Inc.

Submit a media release