Mar 24, 2022   SOURCE: BusinessWire

Worldwide Automated Guided Vehicle Industry to 2030 - Featuring DS Automotion, EK Robotics and Nipper Among Others - ResearchAndMarkets.com

The "Automated Guided Vehicle Market by Type, by Navigation Technology, by Payload Capacity, by Battery Type, by Mode of Operation, by Application, and by Industry Verticals - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

The Automated Guided Vehicle Market size was valued at 4.02 billion in 2021 and is predicted to reach 8.66 billion by 2030 with a CAGR of 8.9% from 2022-2030.

Automated guided vehicle are the material handling automated machines that are programmed to move carts, trays, and pallets in different warehousing and manufacturing facilities. The automation through automated guided vehicle (AGV) aids the requirement for material handling capacity, decreasing production time in the process.

Also, the chances of human errors in production decrease drastically, ensuring increased volume of production, accuracy, and improved safety. It enables computerized control of received assembled parts, in-time delivery of raw material, and tracking of shipped articles. Moreover, it helps store, distribute, and transport material without human intervention; thereby, ruling out the possibilities of injuries to workers and damage to products. Companies such as Walmart and Amazon are focusing on the automation of material handling process to reduce operation cost and increase the inventory size.

Market Dynamics and Trends

The global increasing demand of automated guided vehicle market is projected to be driven by rise in demand for material handling through automated solutions across industries. Also, the demand for automation is increasing in the healthcare, e-commerce, automotive, and food industries owing to the overall requirement for product efficiency. AGV-enabled industrial facility automation help to meet the required material handling capacity while saving production time and reducing the risk of human error.

Moreover, rise in urbanization, and significant rise in industrial production is expected to propel the growth of the market during the forecast period. Furthermore, the increase in demand for automation and automated guided vehicles in various industries such as Elettric 80, Daifuku Webb, and JBT Corporation along with rise in safety, accuracy, and productivity drive growth of the market in the upcoming years.

However, high initial investment costs and lack of skilled labor is expected to restrain the growth of market during the forecast period. On the other hand, the adoption of Industry 4.0 technologies in warehousing is capable of converting an industrial facility into an autonomous plant. It will combine the industrial automation solutions, computers, and robotics to form a single automated unit and the network of connected devices that can creates a smart architecture capable for making decentralized decisions. This is expected to create lucrative growth opportunities for the automated guided vehicle market players in future.

Key Market Segments

Automated Guided Vehicle- By Type

  • Tow Vehicles
  • Unit Load Carriers
  • Pallet Trucks
  • Assembly Line Vehicles
  • Forklift Vehicles
  • Other Types

Automated Guided Vehicle- By Navigation Technology

  • Laser Guidance
  • Magnetic Guidance
  • Inductive/Wire Guidance
  • Optical Tape Guidance
  • Vision Guidance
  • Other Technologies

Automated Guided Vehicle- By Payload Capacity

  • Low (Below 250 Kg)
  • Medium (251Kg to 1000 Kg)
  • High (More than 1000 Kg)

Automated Guided Vehicle- By Battery Type

  • Lead Battery
  • Lithium-ion Battery
  • Nickel-based Battery
  • Others

Automated Guided Vehicle - By Mode of Operation

  • Indoor
  • Outdoor

Automated Guided Vehicle - By Application

  • Logistics and warehousing
  • Assembly
  • Packaging
  • Trailer loading & unloading
  • Raw material handling
  • Other Applications

Automated Guided Vehicle - By Industry Verticals

  • Automotive
  • Press Shop
  • Assembly line
  • Metals & Heavy Machinery
  • Railways
  • Maintenance
  • Transport
  • Manufacturing
  • Semiconductors & Electronics
  • Chemicals
  • Healthcare
  • Aviation
  • E-commerce & Logistics
  • Food & Beverages
  • Other Verticals

Automated Guided Vehicle - By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Russia
  • Sweden
  • Norway
  • Denmark
  • Netherlands
  • Finland
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Taiwan
  • Singapore
  • Vietnam
  • Rest of Asia-Pacific
  • Rest of the World
  • Brazil
  • South Africa
  • Nigeria
  • Israel
  • KSA
  • Turkey
  • Remaining Countries

Companies Mentioned

  • AGILOX
  • ASTI
  • AVT
  • Toyota Forklift
  • DS Automotion
  • EK Robotics
  • Seegrid Corporation
  • MIR
  • Nipper
  • OTTO Motors
  • Rethink Robotics
  • Stanley Innovation
  • Husarion

For more information about this report visit https://www.researchandmarkets.com/r/ee8ahn.