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Automated Guided Vehicle (AGV) Market is anticipated to grow at a CAGR 16.27% by 2025

 



(EnergyIndustry.Net, October 24, 2019 ) Global Automated Guided Vehicle (AGV) Market, Size, share, Outlook and Growth Opportunities to 2026: By Type (Unit Load Carriers, Tow Vehicles, Assembly Line Vehicles, Pallet Trucks, Forklift Trucks, and Others), By Navigation Technology (Magnetic Guidance, Laser Guidance, Inductive Guidance, Vision Guidance, Optical Tape Guidance, and Others), By Application (Storage, Transportation, Distribution, Assembly, Waste Handling, and Packaging), By End User Industry (Manufacturing, Food and Beverages, Automotive, Healthcare, Aerospace, Logistics, Retail, and Others) and By Region

Automated Guided Vehicle (AGV) Market is estimated to grow at a CAGR of 16.27% over the forecast period 2020-2026. Among types, Unit Load Carriers lead the global Automated Guided Vehicle (AGV) Market. Based on navigation technology, laser guidance occupies the major share during the forecast period 2020- 2026. Globally, Asia Pacific region is the fastest-growing segment in overall Automated Guided Vehicle (AGV) Market contributing to rapid globalisation, emergence of ecommerce sector, and increased industrialisation.

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Rising demand for automation in material handling across various industries, emergence of ecommerce sector, increasing safety standards at workplace, and rising demand for customisation in mass production are driving the automated guided vehicle (AGV) market growth.

The factors such as rising adoption of industrial automation by small and medium scale enterprises (SME), rapid industrialisation, and integration of Industry 4.0 with robotics are attributing growth opportunities for automated guided vehicle (AGV) market size. High cost of procurement and maintenance, increased deployment of industrial robots, and availability of labour at low costs are challenging the automated guided vehicle (AGV) market.

The adoption rate of hybrid and customised AGVs are significantly high owing to customer’s preference to cater the various material handling processes across numerous industries are driving the demand. These AGVs are used for transporting materials throughout warehouses and production facilities. Among various end-user industries, retail sector accounted for major share on account of increasing globalisation, expansion of ecommerce sector, and improved efficiency are further boosting the global automated guided vehicle (AGV) market size.

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Major trends shaping the near and long term future of the industry, opportunities, drivers and restraints of Automated Guided Vehicle (AGV) market, detailed porter’s five forces analysis and competitive insights are included in the research report.

The report presents detailed annual outlook of each Type of the Automated Guided Vehicle (AGV) market to 2026. The report categorised into 6 Types including Unit Load Carriers, Tow Vehicles, Assembly Line Vehicles, Pallet Trucks, Forklift Trucks, and Others. Among these, unit load carriers dominate the overall automated guided vehicle (AGV) market.

The report presents in-depth insights into each Navigation Technology of the Automated Guided Vehicle (AGV) market to 2026. The report classified into 6 Navigation Technologies including Magnetic Guidance, Laser Guidance, Inductive Guidance, Vision Guidance, Optical Tape Guidance, and Others. Of these, laser guidance occupies the major share during the forecast period.

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The report presents detailed annual outlook of each application of the Automated Guided Vehicle (AGV) Market to 2026. The report segmented into 6 applications including Storage, Transportation, Distribution, Assembly, Waste Handling, and Packaging.

The report presents in-depth insights into each of the leading Automated Guided Vehicle (AGV) End User Industries along with annual forecasts to 2026. Various End User Industries that are studied in the report include Manufacturing, Food and Beverages, Automotive, Healthcare, Aerospace, Logistics, Retail, and Others.

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