DUBLIN--(BUSINESS WIRE)--The "Automated Guided Vehicle Market by Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles), Navigation Technology (Laser Guidance, Vision Guidance), Application, Industry, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The AGV market was valued at USD 1.86 billion in 2018 and is projected to reach USD 2.94 billion by 2024; it is expected to grow at a CAGR of 7.8% from 2019 to 2024.
The growth of this market is attributed to the growing demand for automation in material handling across industries, the rising popularity of eCommerce, improved safety standards at workplaces, and shift in demand from mass production to mass customization.
However, factors such as high installation, maintenance, and switching costs; and increasing use of mobile robots in retail and e-commerce industries are restraining the market growth. Moreover, low labor cost and dependency on labor in the manufacturing sector of emerging economies, and technical challenges related to sensing elements act as a challenge to AGV manufacturers.
An automated guided vehicle (AGV) is a computer-controlled vehicle used in a wide variety of industrial applications, mainly including the transportation of different types of materials in pallets, rolls, racks, carts, and containers. They are used in industries, such as automotive, manufacturing, aerospace, healthcare, and logistics, to reduce cost and increase efficiency by automating the facility.
These self-guided vehicles are capable of operating without any human intervention in complex environments. Raw material handling, work-in-process movement, pallet handling, and finished product handling are the other application of AGVs. Advancements in technologies and evolution of control programming and navigation systems used in AGVs have enabled their smooth functioning in various industries.
Key players in the AGV market are Daifuku (Japan), JBT Corporation (US), KION Group (Germany), KUKA (Germany), and Toyota Industries (Japan), among others.
These companies have adopted key strategies such as contracts, acquisitions, product launches, expansions, and partnerships to expand their business operations and customer base worldwide.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Automation in Material-Handling Across Industries
5.2.1.2 Rising Popularity of E-Commerce
5.2.1.3 Improved Safety Standards at Workplaces
5.2.1.4 Shift in Demand From Mass Production to Mass Customization
5.2.2 Restraints
5.2.2.1 High Installation, Maintenance, and Switching Costs
5.2.2.2 Increasing Use of Mobile Robots in Retail and E-Commerce Industries
5.2.3 Opportunities
5.2.3.1 Integration of Industry 4.0 With Robotics
5.2.3.2 Rising Adoption of Industrial Automation By SMEs
5.2.3.3 Industrial Growth in Emerging Economies
5.2.3.4 Presence of Huge Intralogistics Sector in Southeast Asia
5.2.4 Challenges
5.2.4.1 Low Labor Cost and Dependency on Labor in Manufacturing Sector of Emerging Economies
5.2.4.2 Technical Challenges Related to Sensing Elements
5.3 Value Chain Analysis
6 Automated Guided Vehicle Market, By Type
6.1 Introduction
6.2 Tow Vehicles
6.2.1 Tow Vehicles to Hold Largest Size of Global AGV Market
6.3 Unit Load Carriers
6.3.1 Automotive Industry to Be Major Contributor to Demand for Unit Load Carriers
6.4 Pallet Trucks
6.4.1 Vision-Guided Pallet Trucks to Register Highest Grow in Market During Forecast Period
6.5 Assembly Line Vehicles
6.5.1 Assembly Line Vehicles Majorly Used for Transportation Applications
6.6 Forklift Trucks
6.6.1 Logistics Industry to Witness Highest CAGR in AGV Market for Forklift Trucks During Forecast Period
6.7 Other Types
7 Automated Guided Vehicle Market, By Navigation Technology
7.1 Introduction
7.2 Laser Guidance
7.2.1 Laser Guided Technology to Hold Largest Size of AGV Market During Forecast Period
7.3 Magnetic Guidance
7.3.1 Magnetic Guidance AGVs are Chiefly Used in Food & Beverages and Automotive Industries
7.4 Inductive Guidance
7.4.1 Inductive Guidance is Among the Most Common Types of Guidance Systems
7.5 Optical Tape Guidance
7.5.1 Tow Vehicles to Hold Largest Size of Optical Tape-Guided AGVs During Forecast Period
7.6 Vision Guidance
7.6.1 Vision Guidance AGVs to Register Highest CAGR in Market During Forecast Period
7.7 Others
8 Automated Guided Vehicle Market, By Application
8.1 Introduction
8.2 Transportation
8.2.1 Transportation to Hold Largest Size of AGV Market During Forecast Period
8.3 Distribution
8.3.1 AGV Market for Distribution Application to Grow at Highest CAGR During Forecast Period
8.4 Storage
8.4.1 Use of AGVs Ensures Efficient Storage of Materials
8.5 Assembly
8.5.1 AGVs have Major Assembly Applications in Automotive and Food & Beverages Industries
8.6 Packaging
8.6.1 Significance of Packaging is Increasing in E-Commerce and Food & Beverages Industry
8.7 Waste Handling
8.7.1 Hazardous Environments Fuelling Demand for AGVs in Waste Handling
9 Automated Guided Vehicle Market, By Industry
9.1 Introduction
9.2 Automotive
9.2.1 Automotive Industry Holds Largest Share of Global AGV Market
9.3 Manufacturing
9.3.1 European Manufacturing Industry is the Largest Market for AGV Providers
9.4 Food & Beverages
9.4.1 Growing Worldwide Demand for Food and Beverage Products Driving Adoption of AGVs
9.5 Aerospace
9.5.1 AGVs Facilitate Manufacturing and Assembly Operations in Aerospace Industry
9.6 Healthcare
9.6.1 AGV Market for Healthcare Industry in APAC to Witness Highest CAGR During Forecast Period
9.7 Logistics
9.7.1 Growing E-Commerce and Online Retailing Driving Demand for AGVs in Logistics Operations
9.8 Retail
9.8.1 AGV Market for Retail Industry to Grow at Highest CAGR in Coming Years
9.9 Other Industries
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US to Lead AGV Market in North America During Forecast Period
10.2.2 Canada
10.2.2.1 Automotive in Canada to Aid AGV Market Growth
10.2.3 Mexico
10.2.3.1 AGV Market in Mexico to Grow at the Highest Rate
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany to Hold Largest Size of AGV Market in Europe
10.3.2 UK
10.3.2.1 Automotive Industry in the UK to Fuel AGV Market
10.3.3 France
10.3.3.1 Growing Retail Sector in France to Aid Growth of AGV Market
10.3.4 Rest of Europe
10.3.4.1 AGV Market in Rest of Europe to Grow at Highest Rate During Forecast Period
10.4 APAC
10.4.1 China
10.4.1.1 China to Hold Largest Size of AGV Market in APAC
10.4.2 Japan
10.4.2.1 Growing E-Commerc Industry in Japan to Support AGV Market Growth
10.4.3 Australia
10.4.3.1 AGV Market in Australia to Grow at Highest Rate During Forecast Period
10.4.4 South Korea
10.4.4.1 Manufacturing Industry of South Korea to Support Growth of AGV Market
10.4.5 Rest of APAC
10.4.5.1 Developing Manufacturing Sector to Support Growth of AGV Market in Rest of APAC
10.5 RoW
10.5.1 South America
10.5.1.1 South America to Lead AGV Market in RoW
10.5.2 Africa
10.5.2.1 Increasing Warehouse Automation to Support AGV Market Growth
10.5.3 Middle East
10.5.3.1 AGV Market in the Middle East to Grow at the Highest Rate
11 Competitive Landscape
11.1 Overview
11.2 Ranking of Players in Automated Guided Vehicle Market
11.3 Competitive Situations & Trends
12 Company Profiles
12.1 Key Players
12.1.1 Daifuku
12.1.2 JBT Corporation
12.1.3 Kion Group
12.1.4 KUKA
12.1.5 Toyota Industries
12.1.6 Hyster-Yale Materials Handling
12.1.7 Oceaneering International
12.1.8 E&K Automation
12.1.9 Kollmorgen
12.1.10 Seegrid Corporation
12.1.11 SSI Schafer
12.2 Other Companies
12.2.1 Addverb Technologies
12.2.2 AGV International
12.2.3 America in Motion
12.2.4 Grenzebach
12.2.5 Meiden America
12.2.6 ROCLA
12.2.7 Savant Automation
12.2.8 Transbotics Corporation
12.2.9 Uncease Automation
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