AGVs serve the manufacturing and distribution industries in a multitude of ways, including lower operational costs, increased worker safety, and faster production times. Top players are increasingly tapping into expanding end-user demands for technologically enhanced products to stay ahead of their competitors. To that aim, they invest heavily in research and development (R&D) and are constantly seeking for new methods to improve their products. A growing number of businesses are expected to benefit from custom-built AGVs in order to get a competitive advantage, which drives the Automated Guided Vehicle (AGV) Market.
Automated Guided Vehicle AGV Market Report Scope and Research Methodology
The study vividly depicts a Automated Guided Vehicle AGV Market structure, including current market trends and predictions to find prospective investment opportunities. It includes a variety of market-influencing aspects such as historical data, recent technical advancements, the competitive landscape, and government policy. The Automated Guided Vehicle AGV Market research informs clients on significant drivers, restraints, challenges, and opportunities. The market has been segmented into three major parts for ease of comprehension, and these major segments of the Automated Guided Vehicle AGV Markets have been further divided into several sub-segments. The research also includes a segment-by-segment analysis of the variables impacting market growth, as well as a competitive analysis of prominent market competitors based on their expansion strategies, product, investments, price, and presence in the Automated Guided Vehicle AGV sector.
The data acquired for the Automated Guided Vehicle AGV Market study utilising these methodologies was pooled to draw reliable and error-free inferences. Interviews with subject-matter experts, Automated Guided Vehicle AGV industry participants, high-level executives of key market companies, industry consultants, and other experts were conducted as part of the primary research. The PESTLE analysis in the market study supports the development of company strategies. The Automated Guided Vehicle AGV Market's strengths and weaknesses were determined using a SWOT analysis.
Automated Guided Vehicle AGV Market Overview:
The research looks at market growth drivers and obstacles, as well as corporate strategies, procedures, and a complete financial strategy. Customer expectations are met by customization and thorough information about Automated Guided Vehicle AGV Market industry possibilities. The Automated Guided Vehicle AGV market research looks at the industry's competitive landscape and key players. This Automated Guided Vehicle AGV Market study aids in structure planning in light of modern industrial conditions.
Automated Guided Vehicle AGV Market Size was valued nearly US$ 2.27 Bn. in 2023 and is estimated to grow at a CAGR of 8.78% and is expected to reach at US$ 4.09 Bn. by 2029.
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Automated Guided Vehicle AGV Market Dynamics:
Key companies in the automated guided vehicle (AGV) industry emphasise safety while dealing with high product volumes in warehouses to minimise collisions and reduce operational disasters. These vehicles are outfitted with sensors, cameras, and lasers, allowing them to operate securely around people and stores while minimising downtime and expenses. Apart from safety, autonomous guided vehicles can function in harsh weather conditions, such as high heat or cold, or in the presence of hazardous chemicals. Manufacturers can increase profitability in a variety of processes by utilising AGVs, creating a tailwind for automated guided vehicle sales during the assessment phase.
Automated Guided Vehicle AGV Market Segmentation:
According to Industry, The growing after-sales spare parts market, increasing levels of vehicle customization, and the need to assure the availability of different parts necessary in vehicle assembly are driving the usage of AGVs in the automotive industry. The economic implications of COVID-19 are likely to have an impact on the automobile industry, affecting the growth of the global AGV market in 2020.
Asia-Pacific Automated Guided Vehicle (AGV) Market is expected to grow at a 9.05% CAGR during the forecast period. Because of the industry's fragmentation, a wide range of cost-effective automation services are available, and growing output in the automotive sector is pushing up demand for AGVs in this region. Because of the region's rapid urbanisation and industrial activity, transport accounts for the lion's share of the market. Vehicle automation, like any other automation, requires appropriate feedback and information about the vehicle's status to close the loop in automation control. MTS Temposonic sensors are durable and reliable in off-highway applications, and MTS sensors are at the forefront of vehicle automation in Asia-Pacific, with over 15 years of field experience in construction, farm and mining applications.
Automated Guided Vehicle AGV Market Regional Insights:
The Automated Guided Vehicle AGV the market is divided into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The paper estimates revenue growth in USD terms at the regional and country levels from 2021 through 2029. The study includes a regional analysis with the Automated Guided Vehicle AGV market size of each area. The countries section of the study looks at a number of market components that are projected to influence present and future Automated Guided Vehicle AGV market trends, as well as changes in market rules at the country level. Consumption, production location and amount, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis are some of the major components utilised to forecast each country's Automated Guided Vehicle AGV Market conditions.
Automated Guided Vehicle AGV Market Key Players:
Swisslog Holding AG
Daifuku Co., Ltd.
Dematic
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
Scott
KION
KUKA
Key Questions answered in the Automated Guided Vehicle AGV Market Report are:
- What are the Automated Guided Vehicle AGV market segments?
- Which segment in the Automated Guided Vehicle AGV market is expected to grow rapidly during the forecast period?
- Which are the prominent players in the Automated Guided Vehicle AGV market?
- What key trends are expected to emerge in the Automated Guided Vehicle AGV market during the forecast period?
- What was the Automated Guided Vehicle AGV market size in 2021?
- Which region dominated theAutomated Guided Vehicle AGV market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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