Automated Guided Vehicle Market Size 2021: Expected CAGR, Future Investment to 2027

[Ajit B]

Market Overview

The indispensable insights on the world automated guided vehicle market are inked the latest “Automated Guided Vehicle Market” report, published by MRFR. As per its finding, the worldwide automated guided vehicle market can register 9.85% by 2027.

The of numerous automated guided vehicle manufacturers across the globe and the introduction of new line products by them can cause the AGV market 2020 to surge. The high growing awareness about the automated guided vehicle advantages can boost the market growth. However, disadvantages of Automated Guided Vehicle market can hinder the market rise. MRFR studied the automated guided vehicle history and modern aspects, following contributions of key players.

The rapid rise of reputed food & beverage, automotive, and e-commerce companies in developed countries can surge the automated guided vehicle market across the globe. The robust production set up and distribution facilities in different regions can prompt the AGV market growth.

Market Segmentation

The study of the world Global Automated Guided Vehicle Market is based on application, vehicle type, technology, and industry.

The vehicle type-based segments are TOW, unit load carrier, pallet trucks, forklift, assembly line vehicle, and others. The TOW vehicle segment can dominate the AVG market. Tow AGVs can add and reduce non-powered vehicles to or from AVGs at designated stops in path. Thus the potential facilities offered by TOW can spur the market growth.
By technology, the automated guided vehicle market segments are traditional guidance, natural features guidance, vision guided vehicle, inductive guidance, and laser guidance among others. The niftiness of laser guidance technology can prompt the market growth.
The application-based segments of the automated guided vehicle market are distribution, transportation, assembly, roll handling, and others. The rise in transportation utility of AGVs can cause considerable rise in revenue.

The industry-based segments of the market are automotive, logistics & distribution, electrical & electronics, plastics & polymers, food & beverage, pharmaceutical, and others. The logistics and distribution segment holds the highest traction.

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Regional Analysis

Asia Pacific is one of the important region for the market in the global. The automated guided vehicles utility is high due to the presence of giant economies, such as South Korea, Japan, China, India, Indonesia, Malaysia, and Australia. The high demand for automated guided vehicles can surge the market value on the conclusion of the forecast period. The increased spending power, improved living standards, and rise in gross domestic product (GDP) are factors that can rise the demand for manufactured or consumer goods, which, in turn, can leads to the rise in AGVs adoption

The automated guided vehicle global market can experience rapid rise through the forecast period. The automated guided vehicle market in Europe is likely to dominate the world automated guided vehicle market. In Europe, the presence of prominent marketers can influence the regional market growth. The automated guided vehicle market in Europe due to the high utilization of AGVs in industrial and domestic space can underpin the expansion of the market. The rapid technological developments, such as robotics and automation and the high demand for retail products and electronics can prompt the automotive guided vehicle market growth. The rapidly growing food & beverage, construction, electronics, and automotive industries can support the AGVs market.

Key Competitors

Hyster-Yale Materials HandlingInc.(the US)
Seegrid Corporation (US)
KUKA AG (Germany)
Jungheinrich AG (Germany)
Daifuku Co.Ltd (Japan)
Toyota Industries Corporation (Japan)
E&K Automation GmbH (Germany)
SSI SCHÄFER (US)
KION GROUP AG (Germany)
JBT Corporation (US)
Crown Equipment Corporation (US)
Meidensha Corporation (Japan)
SCOTT (New Zealand).
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