Automated Guided Vehicles (AGVs) Market was estimated at USD 1.87 billion in 2021, and is projected to reach USD 2.99 billion by 2028, growing at a CAGR of 6.9%.
Automated Guided Vehicle (AGV) systems help move and transport items in production facilities, warehouses, and distribution centers without a permanent transport system or manual intervention. Follow configurable guide routes to optimize warehousing, picking, and transport in the AGV environment due to several advantages like reduced labor costs, less product damage, higher productivity, and scalability to support automation processes. These remarkable benefits encourage transportation and logistics companies to use Automated Guided Vehicles to increase the efficiency of their operations. Automated guided vehicle systems increase performance and reduce costs by supporting the automation of a manufacturing or warehouse facility.
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The first Automated Guided Vehicle was invented by Barrett Electronics in 1953. The Automated Guided Vehicle can pull objects on trailers behind it, to which it can autonomously couple. It can be used to move raw materials or finished products. The Automated Guided Vehicle can also store items on a bed. Items can be placed on a set of motorized rollers (conveyor belts) and then pushed by turning them over. Automated Guided Vehicles are used in almost every industry, including pulp, paper, metal, newspaper, and general manufacturing. Integration of Automated guided vehicles are being introduced in methodologies like Just in Time and KANBAN to improve the performance and efficiency of the company. Such extensive use in various business verticals pushing the Automated Guided Vehicle Market.
The Major Players In The Automated Guided Vehicles (AGVs) Market Include:
JBT Corporation,Kuka AG,Daifuku Co Ltd,Kion Group AG,Omron Adept Technologies INC,AGVE Group Inc,Murata Machinery,Transbotics Corporation,Oceaneering International Inc,Seegrid Corporation,Murata Machinery,SSI Schaefer,AVT Europe NV,Cassioli Srl,Toyota Industries Corporation,Robotnik,Kollmorgen,E&K Automation GMBH,BEUMER Group GmbH & Co KG,Mecalux,S.A,Bastian Solutions Inc.and other major players.
Market has segmented the global Automated Guided Vehicles (AGVs) market on the basis of type, application, and region:
The Automated Guided Vehicles (AGVs) market is segmented by type and application. Growth between segments over the period 2022-2028 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
Tow Vehicles,Unit Load Carriers,Pallet Trucks,Assembly Line Vehicles,Others
Logistics & warehousing,Assembly,Packaging,Raw material handling,Others
By Regional Outlook (Revenue, USD Billion, 2019 – 2028)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
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Covid-19 Impact and Recovery Analysis on Industry:
The COVID-19 pandemic has had devastating effects on several industry verticals globally. To constrain the number of cases and slow the coronavirus spread, various public health guidelines were implemented in different countries across the globe. COVID-19 protocols ranging from declaring national emergency states, enforcing stay-at-home orders, closing nonessential business operations and schools, banning public gatherings, imposing curfews, distributing digital passes, and allowing police to restrict citizen movements within a country, as well as closing international borders. With the growing vaccination rate, governments are uplifting the protocols to give a boost to the stagnant economy. Like other industries, Automated Guided Vehicles (AGVs) Market have experienced slowdown the growth, however market is expected bounce back as restrictions are being lifted up by governments across the globe.
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- Personal Care Product Manufacturers
- Raw Material Suppliers
- Retailers, Wholesalers, and Distributors
- Governments, Associations, and Industrial Bodies
- Investors and Trade Experts
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
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