Automated Guided Vehicle (AGV) Market to grow at a rate of 7.9% by 2031 | Get Customized Reports

Published On : 03/13/2023

Automated guided cars are utilising cutting-edge technologies like telematics services and laser, magnetic, infrared, and optical navigation. Since it improves the precision of tracking position, wireless communication is getting a lot of traction. As a result, it has emerged as a crucial development in the market for automated guided vehicles.

NEWARK, Del: As per ESOMAR-certified consulting firm Future Market Insights’ (FMI’s) recent market analysis, growth is on the cards for the global automated guided vehicles (AGV) market. The report forecasts the market valuation to reach US$ 996 Million in 2021, growing at an impressive 7.9% CAGR through 2031.

Rapid urbanization and adoption of industrial automation within logistics, transportation, and healthcare industry across the globe will propel sales. Owing to the growing need of automation, the market experienced year-on-year growth at 7.9 during forecast period.

Growing automation in material handling solutions will enhance growth prospects during the forecast period. Also, laser-guided AGVs will gain immense popularity among manufacturers as they offer greater precision and reliability.

Get Access to Sample Now:
https://www.futuremarketinsights.com/reports/sample/rep-gb-1541

Reduction in labor costs, human errors, and round-the-clock accessibility of AGVs are key factors increasing the adoption within end-use industries.

Expansion of automotive, consumer goods, retail, and oil & gas industries in developed countries such as the U.S., the U.K., and Germany will continue to boost sales. This will allow AGV manufacturers to focus on capacity expansion, creating growth opportunities over the coming years.

Expansion of production facilities across India, China, South Korea, and Brazil also will boost the AGV sales. Deployment of AGVs to streamline operations with reduced costs and added productivity will also aid the growth in these economies.

“Growing need for industrial automation is expected to boost the adoption of AGVs over the coming years. With increasing adoption of AGVs within automotive, healthcare, logistics, and e-commerce industry, key players will witness lucrative growth opportunities during the forecast period,” says the FMI analyst

Key Takeaways from Automated Guided Vehicle Market Survey

• In terms of technology, laser-guided AGVs will dominate the segment due to their highly accurate navigation systems.
• Based on end-use, logistics sector will generate high demand for automated guided vehicles.
• Increasing application in transportation will foster the AGV sales during the forecast period
• Tow vehicles will emerge as the most preferred vehicle type in the automated guided vehicle market.
• The U.S. is projected to witness high demand for automated guided vehicles, owing to the presence of various end-use industries.
• The U.K. will showcase a positive demand outlook, due to expansions in the automotive and eCommerce industry.
• China will provide lucrative opportunities for AGV manufacturers due to high production volumes in manufacturing industries prevailing in the country.
• India will experience demand for automated guided vehicles, owing to the increasing adoption of industrial automation within logistics sector

Get Your Report Customize, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-1541

Competitive Landscape

JBT Corporation, Daifuku Co., Ltd., Kuka AG, Omron Adept Technologies, Inc., Kion Group AG, Oceaneering International Inc., Transbotics Corporation, AGVE Group, Inc., Seegrid Corporation, Murata Machinery, AVT Europe NV, SSI Schaefer, Toyota Industries Corporation, Cassioli Srl, Robotnik, Mecalux, S.A, Kollmorgen, Bastian Solutions, Inc., and E&K Automation GMBH are some top manufactures operating in the automated guided vehicle market.

As per FMI’s analysis, key manufacturers will account for approximately 43% of the total market share. Key strategies leveraged by players in the automated guided vehicle market include production facility expansions, coupled with strategic partnerships aimed at product innovation to support the growing demand for AGVs.

• In May 2021, Daifuku Co. Ltd. announced the establishment of a new production facility in Boyne City, Michigan. The production plant will facilitate the manufacturing of AGVs for airports, automotive, and eCommerce industries, including world-famous Amazon.
• In June 2021, Seegrid Corporation launched the new Tow Tractor Series 8 with enhanced features such as excellent navigation, extended field of view, and shorter clearance height for managing various cart trains. The product line features Smart Path technology, increasing the fleet’s ability to navigate safely and moving materials reliably in high-traffic facilities.

Automated Guided Vehicle Market by Category

By Technology Type (Laser Guidance, Magnetic Guidance, Infrared Guidance, Wire Guidance, Inertial Guided, Optical Guided), By Application Type (Transportation, Distribution, Storage), By Vehicle Type (Unit Load Carrier, Pallet Truck, Assembly Line Vehicle, Tow Vehicle, Forklift Truck, Light Load Transporters), By End Use (Logistics, Healthcare, Automotive, Manufacturing, Food & Beverages, Aerospace), By Region (North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, MEA)

Direct Purchase of this Report:
https://www.futuremarketinsights.com/checkout/1541 

Table of Content

1. Executive Summary

1.1. Market Overview

1.2. Market Analysis

1.3. Market Dynamics

1.4. Experts Opinion

1.5. FMI Analysis and Recommendations

1.6. Wheel of Fortune

2. Market Introduction

2.1. Market Taxonomy

2.2. Automated Guided Vehicles Product Life Cycle in the Global Market

2.3. Cost Tear Down Analysis for AGV

For more information: https://www.futuremarketinsights.com/reports/automated-guided-vehicles-market

Explore Wide-ranging Coverage of FMI’s Automotive Landscape

EV Thermal System Market Share : would grow at an annual rate of 21.4% from 2023 to 2033. During this period, the report further predicts the overall valuation is likely to reach US$ 15,600.9 million by 2033,

Electric Vehicle Battery Market Demand : is set to strengthen its market hold in global market at a promising CAGR of 8.5%, while it is forecasted to hold a revenue of USD 18.09 Billion in 2032.

Automotive Battery Management System Market Growth : is expected to record a CAGR of 25.6% during the forecast period. The automotive battery management system market size is anticipated to rise from US$ 3.8 billion in 2023 to US$ 37.4 billion in 2033.

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware – 19713, USA

T: +1-845-579-5705

LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com

Source: https://www.prnewswire.com/ae/news-releases/automated-guided-vehicles-demand-will-rise-by-7-9-cagr-as-sales-originating-in-transportation-and-logistics-sector-increase–future-market-insights-301370240.html

Jessica Weisman-Pitts

Jesse Pitts has been with the Global Banking & Finance Review since 2016, serving in various capacities, including Graphic Designer, Content Publisher, and Editorial Assistant. As the sole graphic designer for the company, Jesse plays a crucial role in shaping the visual identity of Global Banking & Finance Review. Additionally, Jesse manages the publishing of content across multiple platforms, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.