Due to rapid industrial developments in robotics and automation, the manufacturing sector has seen the increased adoption of robotics engineering and technology into its production process for quite some time. One such growing sector is that of autonomous guided vehicles (AGVs), which are entirely automated transport systems that function with unmanned vehicles. Automated guided vehicles deliver a wide range of benefits, such as reduced running costs, improved workforce protection, and a decrease in production time. The AGV-enabled automation of industrial facilities also helps meet requirements related to material handling capability, reduce the risk of human error, ensure high output volumes, and improve accuracy and repeatability.
The market research study caters to a comprehensive perspective of the different types of vehicles and applications of the automated guided vehicles (AGV) market. The report further analyzes its impact on other end-user industries by providing critical insights into the direction of its future expansion. The study dwells into various navigation types, such as traditional guidance, laser guidance, hybrid guidance, natural navigation, and another navigation type for AGVs of different end-user industries. The study is further segmented on the basis of application (by end-use industry), and divided into logistics and warehouse, automotive, food and beverage, and pharmaceuticals, among others.
The global Automated Guided Vehicle Market accounted for 138,740 units in terms of volume in 2019 and is expected to reach 272,717 units by 2025. The market is anticipated to grow at a CAGR of 13.32% during the forecast period 2020-2025. The Europe region is expected to grow at a significant growth rate of 14.97% during the forecast period 2020-2025.
Competitive Landscape -
The global AGV market's competitive landscape consists of different strategies undertaken by key players worldwide to gain traction and market share presence. Some strategies adopted by AGV manufacturers are new product launches, mergers, partnerships, and collaborations. Among all these strategies adopted, mergers, partnerships, and collaborations have been the popular choice of the strategy implemented in the global AGV market competitive landscape. Some of the most significant ecosystem players are Mitsubishi Logisnext Co., Ltd, KION Group, and JBT Corporation.
Product launches are another preferred strategy adopted by the market players to enhance their product offerings and global footprint. For instance, in September 2020, KION Group expanded its production facilities in the Czech Republic. The facility will be responsible for manufacturing material handling equipment for Dematic.
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Key Questions Answered in this Report :
- How is the AGV market evolving with new technologies and products in the global market?
- What are the major patents filed by the companies active in the AGV market?
- How are companies adopting new navigation technologies in the AGV industry?
- What are the views of senior management of the AGV manufacturing companies operating in the space?
- What is the competitive positioning of various market leaders catering to the demand for AGV in the global market?
- What is the impact of the COVID-19 pandemic on the global AGV supply chain?
- Which regions and countries are leading in terms of consumption of AGV, and which among those are expected to witness the highest demand growth from 2020 to 2025?
- What are the key trends, drivers, restraints, and opportunities for the AGV industry players?
- What are the buyer’s attributes, major challenges, and drivers for AGV systems in the countries?
- What are the key development strategies implemented by the key players to sustain in the competitive market?
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