DUBLIN--(BUSINESS WIRE)--The "Automated Guided Vehicle Market Size, Share & Trends Analysis Report by Vehicle Type, by Navigation Technology, by Application, by End Use Industry, by Component, by Battery Type, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global automated guided vehicle market size is expected to reach USD 9.38 billion by 2030. The market is anticipated to reach a CAGR of 10.2% from 2022 to 2030.
Automated guided vehicles (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, among others, 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.
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, and AGVs running on lithium-ion batteries can offer higher round-trip efficiencies.
- 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 AGV 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 application of AGVs. The segment generated the highest revenue in 2021 and is expected to retain its dominance during the forecast period.
- The European regional market dominated the global AGVs market in 2021. However, the Asia Pacific regional market is projected to expand at the highest CAGR from 2022 to 2030.
Market Driver Analysis
- Increasing Demand for Automation and Material Handling Equipment in Various Process Industries
- Replacement of Conventional Batteries with Lithium-Ion Batteries
- High Labor Costs
- Manufacturers Introducing Vision Guided Vehicles and Mobile Robots
- Rapidly Growing E-Commerce Industry
- Enhanced Safety At Workplaces
Market Restraint Analysis
- High Initial Cost
- Singular Use and Lack Of Flexibility
Market Opportunity Analysis
- Manufacturers Providing Intelligent AGV
Key Topics Covered:
- AGV-Industry Snapshot & Key Buying Criteria, 2017-2030
- Segmental Outlook
AGV Industry Outlook
- Market Segmentation
- Market Size and Growth Prospects
- Future Of AGV
- Case Studies
- AGV-Value Chain Analysis
- Vendor Landscape
- AGV Market Dynamics
- Market Driver Analysis
- Market Restraint Analysis
- Market Opportunity Analysis
- Industry Analysis-Porter's Five Forces Analysis
- AGV-Pest Analysis
- Technology Overview
- Major Deals & Strategic Alliances Analysis
AGV Market: Vehicle Type Estimates and Trend Analysis
- Tow Vehicle
- Unit Load Carrier
- Pallet Truck
- Forklift Truck
- Hybrid Vehicles
AGV Market: Navigation Technology Estimates & Trend Analysis
- Heat Map For Choosing Navigation
- Laser Guidance
- Magnetic Guidance
- Vision Guidance
- Inductive Guidance
- Natural Navigation
AGV Market: Application Estimates & Trend Analysis
- Logistics and Warehousing
- Trailer Loading & Unloading
- Raw Material Handling
AGV Market: End-Use Industry Estimates & Trend Analysis
- Manufacturing Sector
- Wholesale and Distribution Sector
AGV Market: Component Estimates & Trend Analysis
AGV Market: Battery Type Estimates & Trend Analysis
- Lead Battery
- Lithium-Ion Battery
- Nickel-Based Battery
AGV Market: Regional Estimates and Trend Analysis
- Swisslog Holding
- Bastian Solutions.
- Seegrid Corporation
- Toyota Industries Corporation
- Hyster-Yale Materials Handling
- E&K Automation GmbH
- Kmh Fleet Solutions
- Elettric80 S.P.A.
- Fetch Robotics
- Invia Robotics
- Locus Robotics
- Schaefer Systems International
- System Logistics Spa
For more information about this report visit https://www.researchandmarkets.com/r/kl5xlt
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