SAN FRANCISCO, July 25, 2018 /PRNewswire/ --
Global Automated Guided Vehicle (AGV) Market is predicted to grow impressively in the forecast period owing to the rise in demand for material handling equipment and speedy adoption of automation in various industries. Automated guided vehicles are programmed mobile vehicles are primarily used in industries to transport 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.
The automated guided vehicle (AGV) market is driven by several advantages of the sophisticated AGV. The reduction of labor force in different processes has drastically decreased the operational costs. Moreover, it has resulted in lesser on-site mishaps and assured workforce safety. Developments of such equipment due to usage of lithium batteries instead of traditional ones have also stimulated the automated guided vehicle (AGV) market to impressive levels. Apart from these factors, automated guided vehicle (AGV) market is also being driven due to numerous initiatives undertaken by public and private bodies for ensuring working environment of human resources working around and with heavy equipment that can pose risk to health. Even though automated guided vehicle (AGV) market is going through positive growth prospects. It could face obstruction because of few hurdles like lengthy development cycles for manufacturing of automated guided vehicles. Along with these, the scarcity of floor space for smaller manufacturing firms, and the need for skilled workforce are other factors restraining the growth of automated guided vehicle (AGV) market. Besides, automated guided vehicle (AGV) market may also face heavy cost of equipment. However, the increasing number of investments in research & development activities for automated guided vehicles is projected to fuel the automated guided vehicle (AGV) market in near future.
Manufacturing firms investing in AGV technology are likely to face one-time cost while purchasing new machinery is ultimately avoided by employing human resources. But, in the long run, the operating and maintenance cost would be comparatively cheaper than payment of workers especially for the industries in developed nations. The developing countries are expected to retain low wages in the coming years as well. Hence, even though these countries are unlikely to invest in expensive technologies, their competitive advantage is predicted to impact less impressively on the automated guided vehicle (AGV) market. Automated guided vehicle (AGV) market is categorized on the basis of product type, technology, battery type, end-user, and geography. On the basis of product type, automated guided vehicle (AGV) market is divided into Forklift AGVs, Load Transfer AGVs, Pallet Trucks, Assembly Line Vehicles, Light Load Transporters, Tugger AGVs, and others. In terms of technology, automated guided vehicle (AGV) market is segmented as Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Optical Tape Guidance, and others. Laser guidance is predicted to hold larger share of automated guided vehicle (AGV) market in the forecast period.
On the basis of battery type, automated guided vehicles market is divided into Lead, Nickel-based, Lithium-Ion, others. In terms of end-user, automated guided vehicle (AGV) market is segmented as Distribution & Logistics, Automotive, Aerospace, Healthcare, Retail, Manufacturing, Food & Beverage, and others. Geographically, automated guided vehicle (AGV) market is segmented as North America, Europe, Asia Pacific and RoW (Rest of the World). Europe is predicted to hold larger share of automated guided vehicle (AGV) market in future. The key automated guided vehicles market players comprise Bastian Solutions LLC, E&K Automation GMBH, Toyota Industries Corporation, Egemin Automation Inc., Hyster-Yale Materials Handling Inc., Dematic GmbH & Co. KG, Seegrid Corporation, Swisslog Holding AG, JBT Corporation, and Oceaneering AGV Systems.
The global Automated Guided Vehicle (AGV) market is valued at XX million USD in 2017 and is expected to reach XX million USD by the end of 2023, growing at a CAGR of XX% between 2017 and 2023. This report offers an overview of the market trends, drivers, and barriers with respect to the Automated Guided Vehicle (AGV) market. It also provides a detailed overview of the market of different regions across United States, Europe, China, Japan, India, Southeast Asia and Others. The report categorizes Automated Guided Vehicle (AGV) market by AGV Type, by Navigation Technology, by Battery Type, and application. Detailed analysis of key players, along with key growth strategies adopted by them is also covered in this report on Automated Guided Vehicle (AGV) market is valued at XX million USD in 2017 and is expected to reach XX million USD by the end of 2023, growing at a CAGR of XX% between 2017 and 2023.
Access 110 page research report with TOC on "Automated Guided Vehicle (AGV) Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/global-automated-guided-vehicle-agv-market-research-report-2018-2023
This report focuses Global market, it covers details as following:
- BeeWaTec GmbH (Germany)
- Daifuku Co., Ltd. (Japan)
- Fetch Robotics (USA)
- Gebo Cermex (Switzerland)
- JBT Corporation (USA)
- KION Group (Germany)
- KUKA AG (Germany)
- Toyota Industrial Corporation (Japan)
- Hyster-Yale Materials Handling, Inc. (USA)
- Kollmorgen (USA)
- E&K Automation GMBH (Germany)
- Scaglia Indeva (Italy)
- Seegrid Corporation (USA)
- SSI Schaefer AG (Germany)
- North America
- United States
- Latin America
- United Kingdom
- Asia & Pacific
- Southeast Asia
- Africa & Middle East
- South Africa
- Saudi Arabia
Main types of products
Automated Guided Vehicle (AGV) Market, by AGV Type
- Unit Load Carriers
- Tow Vehicles
- Forklift Trucks
- Pallet Trucks
Automated Guided Vehicle (AGV) Market, by Navigation Technology
- Laser Guidance
- Magnetic Guidance
- Vision Guidance
- Inductive Guidance
Automated Guided Vehicle (AGV) Market, by Battery Type
- Lead Battery
- Nickel-based Battery
- Lithium-Ion Battery
- Others Battery
Automated Guided Vehicle (AGV) Market, by Key Consumer
Browse reports of similar category available with Radiant Insights, Inc.:
- Electric Commercial Vehicle Market
- Advanced Suspension Control System Market
- Motorcycle Semi-active Suspension System Market
- Drill Bits Market
About Radiant Insights, Inc.:
At Radiant Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.
Corporate Sales Specialist
Radiant Insights, Inc.
Toll Free: 1-888-928-9744
SOURCE Radiant Insights, Inc.