Global Automated Guided Vehicles market is expected to reach.7 billion by 2022
Automated Guided Vehicles Market Outlook – Global Trends, Forecast, and Opportunity Assessment (2014-2022)
The Global Automated Guided Vehicles market is expected to reach.7 billion by 2022 by growing at a CAGR of 10.9% from 2014 to 2022. Automated guided vehicles are becoming more popular in applications that transport heavy loads and generally used as substitute for forklifts, manually powered push-pull carts and conventional conveyor systems. Shortage of labor and increasing labor Costs, increasing material handling equipment demand, and rising investments in emerging nations such as India, Japan and china are the factors fueling the market growth. Industrial manufacturing sector witnessing the rapid growth and is acting as key driver for automated guided vehicles market. High initial investments is posing a major challenge for the market growth.
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An automated guided vehicle reduces labor & material costs, product damage and improves safety. The sales of automated guided vehicles are increased by 20% and nearly 65% increase in number of vehicles. Manufacturing accounted for the largest share with more than 70% among the global market and is expected to continue its pace during the forecast period. Food & beverages, and transportation are leading industries for automated guided vehicles market. Europe commanded the largest share in AVG market followed by Asia Pacific and North America.
The key players of the market include, JBT Corporation, Toyota Industrial Equipment, Bastian Solutions LLC, Kollmorgen, Swisslog Holding AG, Frog AGV Systems B.V., Daifuku Co. Ltd., Seegrid Corporation and EK Automation.
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• Food & Beverage
• warehouse and distribution center
Type of Automated Guided Vehicles Covered:
• Unit Load Carrier
• Pallet Truck
• Tow Vehicle
• Assembly Line Vehicle
• North America
• Asia Pacific
o New Zealand
o Rest of Asia
• Rest of the World
o Latin America
o Middle East