Automated Guided Vehicle (AGV) Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Automated Guided Vehicle (AGV) Market by region.
Request To Download Sample of This Strategic Report:-
Automated Guided Vehicle (AGV) Market is projected to exhibit significant growth during 2019-2025. Modernization and globalization are leading to the adoption of the latest technology across sectors and enhancing the growth of the market. The flexible route mapping, easy implementation, high accuracy, and easy scalability are some of significant factors leads to the rising demand of AGV in global market. Industrial automation helps reduce inventory damages and improve material handling in production facilities, fueling the demand in the global AGV market.
Automated guided vehicles come with various navigation technologies such as laser guidance, magnetic guidance, vision guidance, and natural guidance which improve the maneuverability of these vehicles globally. Their usage simplifies work processes and reduces the burden of repetitive work for humans, thereby enhancing their quality of life. Factors such as increase in wastage due to product damage and delays caused by accidents due to human error are attributing to the growth of the market.
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Automated Guided Vehicle (AGV) Market also experienced a slowdown. Statista estimates that the Automated Guided Vehicle (AGV) Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Automated Guided Vehicle (AGV) Market generated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Automated Guided Vehicle (AGV) Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
Request To Download Sample of This Strategic Report:-
Among type, Tow vehicle segment holds the largest market share of the automated guided vehicle (AGV) market during the forecast period
Tow vehicles occupied more than half of the market share in 2018. The capacity of tow vehicles to lift heavy loads over long distances is high and primarily contributing to the growth of this segment. Tow vehicles helps in decreasing the operational costs. Tow vehicles used in industries such as automotive, aerospace, retail, and food and beverages where the movement of products is high over long distances sometimes between buildings, outdoors, or very large distributed systems.
Europe accounts for the lion’s share of the global automated guided vehicle (AGV) market during the forecast period
Geographically, the automated guided vehicle (AGV) market analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is the leading region of the overall AVG market, followed by North America. The exponential progress of the online retail and automotive industries driving the growth of the European AGV market. The market is driven by growing demand for material handling equipment and rapid adoption of automation solutions by incumbents in the manufacturing industry. In European countries, Manufacturers have been adopting automated solutions to reduce the overall operational cost. France, Germany and the UK are the largest revenue generators in the automated guided vehicle market in the European region.
Get a Sample PDF copy of the report:-
Global Automated Guided Vehicle (AGV) Market: Competitive Landscape
Companies such as Daifuku, JBT Corporation, Kion Group, Toyota Industries, Kuka, Hyster-Yale Materials Handling, EK Automation, Seegrid Corporation, Kollmorgen, SSI Schafer, JBT Corporation, Balyo Inc. (Balyo SA), Elettric80 SpA, Transbotics are the leading players of market across the globe.
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
Access full Report Description, TOC, Table of Figure, Chart, etc.
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.