Automated guided vehicles (AGVs) are widely used in material handling across various industries like automotive, manufacturing, Food & beverages, logistics, healthcare, and others. Increase in demand of material handling equipment to improve operational efficiency in industrial processes will drive the market growth.
Increase in adoption of AGVs due to its benefits such as reduced labour costs, increased productivity, reduced product damage and scale to support automation processes which is expected to boost the global automated guided vehicle (AGV) market growth. Furthermore, increase in collaboration and partnership activities in retail and logistics related companies will have the positive impact on market growth. For instance, in August 2019, Murata Machinery Ltd. collaborated with Alert Innovation. Under this collaboration Murata Machinery has adapted the latter company’s alphabet technology to transform the grocery by developing can commercializing the material handling technology. Moreover increase in demand for automation in material handling processes across industries will have the positive impact on market growth during this forecast period.
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However, high installation, maintenance, and switching cost is the major challenging factor which is expected to hinder the global automated guided vehicle (AGV) market growth. Also, increase in use of mobile robots in retail and e-commerce industries will obstruct the market growth during this analysis period.
Global Automated Guided Vehicle (AGV) Market is segmented into type such as Unit Load Carrier, Two Vehicles, Pallet Trucks, Assembly Line Vehicles, and others, by industry vertical such as Retail, Logistics, Food & Beverages, Healthcare, Automotive, and others. Further, market is segmented into application such as Transportation, Distribution, Storage, Assembly, Packaging, and Others.
Also, Global Automated Guided Vehicle (AGV) Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Toyota Industrial Equipment Manufacturing Inc., Bastian Solutions LLC, Daifuku CO. Ltd., Dematic GMBH & Co. KG, Egemin Automation Inc., EK Automation, Frog AGV Systems B.V., JBT Corporation, and Kollmorgen
- Unit Load Carrier
- Two Vehicles
- Pallet Trucks
- Assembly Line Vehicles
By Industry Vertical
- Food & Beverages
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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