The automated guided vehicle market is expected to grow at a CAGR 8.48% rate during the forecast period. The market growth is driven by the growing demand for automation in material-handling across industries, the rising popularity of e-commerce, improved safety standards at workplaces, and shift in demand from mass production to mass customization.The adoption rate of other types of AGVs hybrid AGVs and customized AGVs is currently high. Manufacturers are designing hybrid and customized AGVs to cater to the varying material-handling requirements of different industries. Furthermore, they aid in moving and handling almost all types of industrial load, from small parts to heavy pallets. These are used in material transportation throughout plants/warehouses. Customized and hybrid AGVs are being manufactured to cater to the varied needs of end users, which is likely to lead the market for this segment to grow at a high rate during the forecast period.
The retail industry is expected to grow at the highest CAGR during the forecast period. The increasing globalization, and the emergence of online retailing and bulk retailing have escalated the demand for AGVs in the retail industry. With the growing pressure on retail companies to meet the ever-increasing demand of its customers, the companies are focusing on operating more efficiently.
APAC is expected to grow at the highest CAGR during the forecast period. China and Japan are the major contributors to the growth of this market. The rapid growth of automotive, food & beverages, and healthcare industries in emerging economies, such as China, India, and Korea, has contributed to the growth of the AGV market in APAC.
Key Market Players includes Daifuku (Japan), JBT Corporation (US), KION Group (Germany), KUKA (Germany), Toyota Industries (Japan), Hyster-Yale Materials Handling (US), Oceaneering International (US), E&K Automation (Germany), Kollmorgen (US), Seegrid Corporation (US), and SSI Schaefer (Germany).
Key Questions Addressed by the Report
- Which type of AGVs is expected to have the highest demand in the future?
- Which is the most adopted navigation technology for AGVs in the market?
- How are the AGVs applied in various industries to facilitate the distribution and transportation application?
- What are the key trends in the AGV market?
- Introduction
- Market Definition
- Study Scope
- Study Period
- Market Stakeholders
- Research Methodology
- Secondary Research
- Primary Research
- Research Design
- Data Validation
- Limitations and Assumptions
- Market Dynamics
- Drivers
- Growing Demand for Automation in Material-Handling Across Industries
- Rising Popularity of E-Commerce
- Improved Safety Standards at Workplaces
- Shift in Demand From Mass Production to Mass Customization
- Challenges
- High Installation, Maintenance, and Switching Costs
- Increasing Use of Mobile Robots in Retail and E-Commerce Industries
- Low Labor Cost and Dependency on Labor in Manufacturing Sector of Emerging Economies
- Technical Challenges Related to Sensing Elements
- Opportunities
- Integration of Industry 4.0 With Robotics
- Rising Adoption of Industrial Automation By SMEs
- Industrial Growth in Emerging Economies
- Presence of Huge Intralogistics Sector in Southeast Asia
- Executive Summary
- Automated Guided Vehicle Market, By Type
- Two vehicles
- Unit load carriers
- Pallet trucks
- Assembly line vehicles
- Forklift trucks
- others
- Automated Guided Vehicle Market, By Navigation System
- Laser guidance
- Magnetic guidance
- Inductive guidance
- Optical tape guidance
- Vision guidance
- Others
- Automated Guided Vehicle Market, By Application
- Transporation
- Distribution
- Storage
- Assembly
- Packaging
- Waste handling
- Automated Guided Vehicle Market, By Industry
- Automotive
- Manufacturing
- Food and beverages
- Aerospace
- Healthcare
- Logistics
- Retail
- others
- Automated Guided Vehicle Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- Japan
- China
- Australia
- South Korea
- Rest of APAC
- Rest of the World
- South America
- Middle East
- Africa
- Company Profiles
- Leading Companies in Automated Guided Vehicle Market
- Daifuku
- JBT Corporation
- Kion Group
- KUKA
- Toyota Industries
- Hyster-Yale Materials Handling
- Oceaneering International
- E&K Automation
- Kollmorgen
- Seegrid Corporation
- SSI Schafer
- Other Companies in Automated Guided Vehicle Market
- *Company introduction, financial information, recent developments, SWOT analysis
- Conclusion and Recommendations
- Appendix
- About
- Related Reports
- Glossary
