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The global Automated Guided Vehicle market is expected to see the addition of more than 80 million units by 2027, as per a report by Astute Analytica. China, with CAGR estimated at 13% over 2021-2027 accounted for the largest installed base of AGVs and is expected to retain its position as the largest market throughout the forecast period.
Automated Guided Vehicles also termed as AGVs are portable robots and use different navigation technologies like marked long lines or wires on the floor, or uses radio waves, magnets, vision cameras, or lasers, for navigation purposes. The implementation of mobile robots across the world and measures to enhance workplace safety and productivity have boosted the adoption of AGVs in almost all industrial sectors. The report on the global market for Automated Guided Vehicle provides a detailed analysis of market opportunities, market dynamics, and the competitive landscape of the industry dealing with AGV. Global Automated Guided Vehicle market is analyzed for the period 2017 to 2027, wherein 2017-2019 is the historic data, 2020 is considered as the base year and 2021-2027 are forecast values.
The global Automated Guided Vehicle market is expected to increase in market size to more than USD 5.5 Billion by 2027, registering a compound annual growth of 10.3% over the forecast 6 years. The report also provides market growth in terms of volume with a projection of 9.5.% CAGR by 2027. The growth over the forecast reflects industry recovery from the Covid-19 impact and subsequent shift in the growth trend. The report presents analysis detailed across 18 elucidated chapters totaling 300 pages, with 89 extensive data tables and 96 figures.
The report provides a thorough analysis of market opportunities in the global automated guided vehicle industry. The following regions have been extensively analyzed – North America, Europe, Asia Pacific, the Middle East and Africa, and South America – for growth opportunities in the global AGV market. The report identifies Europe as the largest market while the Asia Pacific as the market with the highest CAGR of 12.1%.
The report includes global automated guided vehicle (AGV) market analysis on basis of the following parameters – Product Type, Battery Type, Navigation Technology, Application, and End-user Industry. In all, the report analyzes market opportunity on basis of 24 sub-segments, providing readers with exclusive growth trends for each sub-segment. Globally, it is observed that the Automated guided vehicle market would see healthy, adding up to 1.05 million units over the term.
The market has observed tremendous growth due to the growing demand for automation in material handling processes across industries. Moreover, the retail industry is one of the leading industries that has benefited from artificial intelligence (AI) and robotics implementation, such as AGV, and hence the growing demand for AGV from the retail sector has laid a positive impact on the market. The entry of multiple players in the market has allowed customers to leverage their bargaining power and get the best of products. The increasing trend of digitalization, automation, and robotics with the use of AI and big data analysis in the manufacturing processes with the adoption of Industry 4.0 will foster the growth of the AGV market over the forecast period.
The competition landscape section of the report covers descriptive profiles of 18 prominent players and the list can be customized as per the reader’s research requirements. Details covered for these players include – Business description, company financials, key details, strategy outlook, list of products, and recent developments. The players profiled in the report include the following – Balyo, Bastian Solutions, Inc., Daifuku Co., Ltd., Dematic, E&K Automation Gmbh, Elettric80 S.P.A., Fetch Robotics, Inc., Hyster-Yale Materials Handling, Inc., Invia Robotics, Inc., Kmh Fleet Solutions, Kollmorgen, Locus Robotics, Schaefer Systems International, Inc., Scott., Seegrid Corporation, Swisslog Holding AG, System Logistics Spa, Toyota Industries Corporation and Swisslog Holding AG.
By Product Type
By Battery Type
By Navigation Technology
By End-user Industry
The global automated guided vehicle market in 2020 was valued US$ 713.7 Million.
Report provides market size forecast for period 2021-2027, with market estimated to grow at compounded annual growth rate of 9.5% by value and 10.3% by volume.
The market in 2020 was 26 thousand units.
The report provides market size estimates for period of 2017-2027. Wherein, 2017-2019 is the historic period. 2020 is the base year, and 2021-2027 is the forecast period. In all, forecast is provided for a term of 10 years in the report.
The report provides detailed segment level market size analysis and forecast for multiple parameters. These include: Product Type (6 subsegments), Battery Type (3 subsegments), Navigation Technology (6 subsegments), Application (6 subsegments), End-user Industry (3 subsegments) and Region (5 subsegments).
Potential players include names such as Dematic, Toyota, Kuka AG, Daifuku, JBT Corporation and others.
Yes, report provides time series analysis for the market. 3 different terms are described in report which include 2017-2019, the historic period with volume of 309,302 units, 2020 base year with volume of 222,870 units, and 2021-2027, the forecast period with volume of 938,837 units.
Tow-vehicles ARVs market was valued US$ 970.4 Million in 2020 and is projected to grow to the value of US$ 1,728.1 Million by 2027.
The advanced technologies include Artificial Intelligence (AI), big analytics and Industrial Internet of Things (IIoT).
The lithium-ion battery driven AGVs are projected to grow at a fastest CAGR of 19.4% during the forecast period.
The laser guidance dominated the market with around 48.2% share in 2020, with market valued at around US$ 1,409.8 Mn.
Europe is projected to have largest hold, with a share of around 37.3% in the global AGV market in 2020 while, Asia Pacific is estimated to grow at a fastest CAGR of 12.1% during the forecast period.
The AGVs are used in industrial facilities including requirements related to material handling capacity, enables just-in-time (JIT) delivery of raw material, computerized control of received assembled parts, and tracking of shipped articles.
Yes, report provides impact analysis of Covid-19 pandemic on market growth trend. 3 different scenarios are described in report depending on how the regions responds to pandemic and its effects and subsequent recovery strategies.