Automated Guided Vehicles: Global Market

 Source: https://www.globenewswire.com/news-release/2021/04/26/2216515/0/en/Automated-Guided-Vehicles-Global-Market.html

      An automatic guided vehicle (AGV) is a type of industrial robot mainly controlled by a computer.An AGV has functions such as mobile device, automatic navigation, multi-sensor control and network interaction.

      The most important use of AGVs in production or manufacturing is to load and carry raw materials and components.Industries and verticals that require material handling find AGV applications.

      One factor leading to the growth of the market for AGVs is the increase in the number of industrial and production facilities across the globe. The industries use AGVs for applications such as logistics and warehousing, transportation, assembly line, packaging, trailer loading and unloading, and raw material handling. AGVs make the production processes more productive and efficient with less human contact; thus, also help to eliminate accidents during the processes.

       Leading players in the market for AGVs include Daifuku, JBT, SEEGRID, Toyota Industries, Hyster-Yale Materials Handling, E&K Automation GmbH, Dematic, Schaefer Systems, and Scott.All of these companies are investing in material handling technology used in manufacturing facilities to help improve operations and serve their customers.

      Increasing collaborations and mergers and acquisitions, along with product development and launches, are expected to optimize the environmental and economic advantages by enhancing and utilizing new and innovative ideas and technologies.

      While industrial manufacturing and warehousing logistics are the main applications of AGVs, considering the COVID-19 situation as an opportunity, service robots are likely to join in rapid growth. Moreover, with the development in AGV technology, special applications will also grow rapidly.

      The coronavirus outbreak is speeding up the adoption of the fourth industrial revolution (Industry 4.0), leading enterprises across industries to deploy more sophisticated implementations of internet of things (IoT) technology and workflow. Some manufacturers have halted their production processes completely; some, such as automotive and industries manufacturers, have seen greatly reduced demand; and others, such as e-commerce and food and beverage, have seen massive increases in demand. The crisis has affected every manufacturer in some way, and for many, it poses an existential threat.

      The global market for AGVswas valued at REDACTED in 2019 and is forecast to reach REDACTED by 2025, growing at a CAGR of REDACTED during the forecast period.The use of AGVs has resulted in higher productivity, greater revenue generation and better resource allocation, since the repetitive tasks are performed by AGVs.

      This has also created safe environments at workplaces, reduced accidents and efficient operations, thus, giving a boost to the growth and opportunities of the AGV market.

      The global market for AGVs is segmented based on type, battery type, navigation technology, industry, application and geography.In terms of type, the market is categorized into Tow Vehicles/Tuggers, Unit Load Carriers, Pallet Trucks/Movers, Assembly Line Vehicles, Forklift Vehicles and Others.

      The market by battery type is segmented into Lead Battery, Lithium-Ion Battery, Nickel-based Battery and Others.The market for AGVs by navigation technology is segmented into Laser Guidance, Magnetic Guidance, Inductive Guidance, Optical Tape Guidance, Vision Guidance and Others.

      The market by application is segmented into Manufacturing andWarehousing/Distribution.The market by industry includes Automotive, Industrial, Food and Beverages, Healthcare, Electrical and Electronics, Aviation, E-commerce, and Others.

      Regions covered in the report include North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW), which includes South America and the Middle East and Africa (MEA).

      Read the full report: https://www.reportlinker.com/p06066832/?utm_source=GNW

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