Automated Guided Vehicle (AGV) 2019 Market By: Industry Size,Growth,Trends,Analysis,Opportunities, and Forecasts to 2026

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Automated Guided Vehicle (AGV) Industry 2019


The worldwide Automated Guided Vehicle market is anticipated to reach USD 3,977.8 million by 2026. In 2017, the automotive sector dominated the global market, in terms of revenue. Europe is expected to be the leading contributor to the global market revenue during the forecast period.

Growing need for automation and increasing labor costs fuel the market for adoption of AGV. Use of these automated vehicles increases productivity, and efficiency, while saving time and costs. The increasing demand from industries including healthcare, defense, aerospace, agriculture, and food and beverage is expected to provide growth opportunities in the coming years. Emerging and untapped markets of developing economies further provide growing opportunities to key players in the market. Increasing investments, research and development further boosts the growth of the market.

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There has been a high demand for automation in the global market. Companies are automating processes to reduce cost, save time and deliver better quality products. With stiff competition existing in the global market, companies are automating their processes for better quality and increased productivity. These vehicles automate internal processes and reduce the workload of employees, by working in collaboration with workers for better efficiency. Due to stringent safety regulations, companies are forced to employ Automated Guided Vehicles for dangerous and hazardous environment conditions. Automation of manufacturing processes was earlier restricted to only automotive sector. Now, industries such as healthcare, aerospace, food and beverage are also adopting the automated vehicles solutions. Increasing need of automation in various industries is a key factor driving the growth of the market.

With ever-increasing labor costs existing in most of the countries, companies are turning towards AGVs to save costs and time. Their usage increases efficiency while reducing wastage. They also eliminate chances of faults occurring due to human errors. These vehicles can be operated with the help of software, thereby saving the expense spent in training and management of labor. Unavailability of skilled labor to manage the processes along with high labor costs pushes companies towards automation and supplements the growth of this market.

Europe generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Rapid industrialization and increasing automation in the region drives the market growth. Introduction of new advanced technologies and increasing applications in automotive, aerospace, electronics and healthcare sectors is expected to support market growth. Growing demand from automotive industry for high quality products, along with increasing labor costs encourages companies to invest in automation, thereby augmenting growth.

The various end-users of AGVs include automotive, aerospace, healthcare, food and beverage, and others. In 2017, automotive accounted for the largest share in the global market, and is estimated to grow at a substantial rate during the forecast period. Companies use these vehicles in the automotive sector to save cost and increase their production. The key factors driving this market include increasing labor costs, new safety regulations, and need for increased efficiency. Use of AGVs in the automotive industry enables manufacturers to achieve high quality, reliability, economic efficiency and less product life cycle cost.

The well-known companies profiled in the report include Toyota Industries Corporation, KUKA AG, Daifuku Co. Ltd., Bastian Solutions, Inc., JBT Corporation, Swisslog Holding AG, Seegrid Corporation, Baylo, Inc., EK Automation GmbH, Kion Group AG among others. These companies launch new products and collaborate with other market leaders to meet the increasing needs and requirements of consumers.

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Table Of Contents – Major Key Points

1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
1.5. Stakeholders

2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation

3. Automated Guided Vehicle Market Insights
3.1. Automated Guided Vehicle – Industry snapshot
3.2. Automated Guided Vehicle - Ecosystem analysis
3.3. Automated Guided Vehicle Market Dynamics
3.3.1. Automated Guided Vehicle – Market Forces Automated Guided Vehicle Market Driver Analysis Automated Guided Vehicle Market Restraint/Challenges analysis Automated Guided Vehicle Market Opportunity Analysis
3.3.2. Industry analysis - Porter's five force Bargaining power of supplier Bargaining power of buyer Threat of substitute Threat of new entrant Degree of competition
3.3.3. Automated Guided Vehicle Market PEST Analysis, 2017
3.3.4. Automated Guided Vehicle Market Value Chain Analysis
3.3.5. Automated Guided Vehicle Industry Trends
3.3.6. Competitive Ranking Analysis

4. Automated Guided Vehicle Market Size and Forecast, 2017-2026 by Product
4.1. Key Findings
4.2. Pallet Trucks
4.3. Forklift Trucks
4.4. Unit Load Carriers
4.5. Tow Vehicles
4.6. Assembly Line Vehicles
4.7. Others

5. Automated Guided Vehicle Market Size and Forecast, 2017-2026 by Guidance Technology
5.1. Key Findings
5.2. Vision Guidance
5.3. Inductive Guidance
5.4. Laser Guidance
5.5. Magnetic Guidance
5.6. Laser Guidance

6. Automated Guided Vehicle Market Size and Forecast, 2017-2026 by Industry
6.1. Key Findings
6.2. Automotive
6.3. Aerospace
6.4. Healthcare
6.5. Food and Beverage
6.6. Others

7. Automated Guided Vehicle Market Size and Forecast, 2017-2026 by Application
7.1. Key Findings
7.2. Assembly
7.3. Storage
7.4. Distribution
7.5. Transportation
7.6. Packaging
7.7. Others


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