The global automated guided vehicle market size is expected to reach USD 9.1 billion by 2027, according to a new report by Grand View Research, Inc. The automated guided vehicle (AGV) market is anticipated to witness a CAGR of 14.1% from 2020 to 2027. AGVs have transformed the way materials can be moved within the manufacturing and distribution facilities. In a production environment where several operations are carried out simultaneously, these vehicles ensure a predictable and reliable transfer of raw materials as well as manufactured products from one point to another point within the facility, thereby eliminating any potential disruption in production. These vehicles can operate safely around structures, machinery, and employees, as they are equipped with accessories, such as camera vision and LiDAR sensors, which help in detecting junctions, identifying floor signs, and avoiding collisions with any obstacle.
Several
manufacturing plants and warehouses are deploying material handling equipment
for various activities, such as locating stock, picking orders, and moving
products and raw materials. Transportation and logistics firms are mainly
focusing on the deployment of such equipment to boost the efficiency of their
operations in line with the growing demand for their services. For instance, in
September 2019, a U.S. based robotic solutions provider AHS, LLC partnered with
Exotec, which is a France-based mobile robot picking system provider. The
former company introduced 3D mobile robots that can move in three dimensions
and enable warehouse team members to focus on packing and shipping and
neglecting the long-distance-walks to access inventories. Also, material
handling solutions are used to increase the efficiency of transportation,
decrease physical damage to the material, and reduce overheads by limiting the
number of employees.
The
AGV market is witnessing a progressive switch from lead-acid batteries to
lithium-ion batteries. Lithium-ion batteries offer several advantages over
lead-acid batteries. They tend to be lighter and compact. They can charge
faster, provide longer runtimes, and support more charge cycles. Hence, they
are ideal for AGVs, as they need not be charged frequently during operating
shifts or in 24x7 operating environments. AGVs running on lithium-ion batteries
can offer higher round-trip efficiencies.
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Further key
findings from the report suggest:
- The adoption of material
handling equipment and automation solutions is growing significantly
across several industries
- The growing adoption of AGVs
by the automotive industry as well as the automotive supply industry to
move intermediate products within the facility is expected to drive the
growth of the automated guided vehicle market
- The manufacturing industry
is increasingly adopting AGVs to save on labor costs. While AGV can operate
on a 24x7 basis, the costs associated with the procurement and maintenance
of AGV tend to be lesser than the costs incurred on salaries and employee
benefits
- The logistics and
warehousing segment happen to be the largest user of AGVs. The segment
generated the highest revenue in 2019 and is expected to retain its
dominance over the forecast period
- Europe dominated the global
market in 2019. However, Asia Pacific is projected to witness the highest
CAGR from 2020 to 2027
- The key players in the
market include Swisslog Holding AG; Dematic; Bastian Solutions, Inc.;
Daifuku Co., Ltd.; JBT; Seegrid Corporation; TOYOTA INDUSTRIES
CORPORATION; Hyster-Yale Materials Handling, Inc.; BALYO; E&K
Automation GmbH; Kollmorgen; KMH Fleet Solutions; ELETTRIC80 S.P.A.; Fetch
Robotics, Inc.; inVia Robotics, Inc.; Locus Robotics; Schaefer Systems
International, Inc.; System Logistics Spa; and Scott.
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Grand View Research has segmented
the global automated guided vehicle market based on vehicle type, navigation
technology, application, end-use industry, component, battery type, and
region:
Automated Guided
Vehicle Type Outlook (Revenue, USD Million, 2016 - 2027)
- Tow Vehicle
- Unit Load Carrier
- Pallet Truck
- Forklift Truck
- Hybrid Vehicles
- Others
Automated Guided
Vehicle Navigation Technology Outlook (Revenue, USD Million, 2016 - 2027)
- Laser Guidance
- Magnetic Guidance
- Vision Guidance
- Inductive Guidance
- Natural Navigation
- Others
Automated Guided
Vehicle Application Outlook (Revenue, USD Million, 2016 - 2027)
- Logistics and Warehousing
- Transportation
- Cold Storage
- Wholesale &
Distribution
- Cross-docking
- Assembly
- Packaging
- Trailer Loading and
Unloading
- Raw Material Handling
- Others
Automated Guided
Vehicle End-use Industry Outlook (Revenue, USD Million, 2016 - 2027)
- Manufacturing Sector
- Automotive
- Aerospace
- Electronics
- Chemical
- Pharmaceuticals
- Plastics
- Defense
- FMCG
- Tissue
- Others
- Wholesale and Distribution
Sector
- E-commerce
- Retail Chains/Conveyance
Stores
- Grocery Stores
- Hotels and Restaurants
Automated Guided
Vehicle Component Outlook (Revenue, USD Million, 2016 - 2027)
- Hardware
- Software
- Service
Automated Guided
Vehicle Battery Type Outlook (Revenue, USD Million, 2016 - 2027)
- Lead Battery
- Lithium-Ion Battery
- Nickel-based Battery
- Others
Automated Guided
Vehicle Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- South America
- Brazil
- Middle East and Africa (MEA)
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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