Automated Guided Vehicle Market Expected to Grow at a Steady CAGR by 2022

According to the report, “Automated Guided Vehicle Market, by Type (Pallet Truck, Unit Load Carrier, Tow Vehicle, Assembly Line Vehicle), Navigation Technology (Optical Tape Guidance, Magnetic Guidance, Laser Guidance, Inductive Guidance), Battery Type (Nickel-based, Lithium-ion, Lead), Industry (Aerospace, Logistics, Automotive, manufacturing, Food & Beverages, Retail, Healthcare), Applications (Packing, Storage, Transportation, Distribution), and Geography (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa) - Global Opportunity Analysis and Industry Forecast, 2014 - 2022”, the market for the automated guided vehicles (AGV) is set to grow at a steady rate during the forecast period, due to the technological advancements.

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The automated guided vehicle market report focuses on the growth trends and revenue forecasts for the global market. It offers in-depth analysis of the market segmentation, share, key players, and the drivers & restraints for the market.

According to the automated guided vehicle market report, the global market is expected to grow at a steady rate during the forecast period. The report attributes this growth to some of the major driving factors. These factors include the growing emphasis on workspace safety and the trend of replacement of the conventional batteries with the lithium-based batteries. Apart from that, high labor, increased productivity of various end-user industries, and the rapid rise in mechanization are some of the major driving factors for the market. The major restraining factors for the market include high costs and large capital investments. However, the high demand for the intelligent and customizable AGVs is expected to create potential growth opportunities for the global market across different geographic regions.

The automated guided vehicle market report segments the global market by types, navigation technology, types of batteries, industries, applications, and geographic regions. The types of the vehicles include tow vehicles, pallet trucks, assembly line vehicles, and unit load carriers. The navigation technologies include magnetic guidance, optical tape guidance, inductive guidance, and laser guidance. The application segments include transportation, storage, packaging, and distribution. The battery types include lithium-ion, nickel-based, and lead. The industry segments include automotive, logistics, food & beverages, aerospace, manufacturing, healthcare, and retail. The geographic regions include Latin America, North America, Asia-Pacific, Middle East & Africa, and Europe.

The automated guided vehicle market report includes information about the key players in this market. These players include Balyo, Egemin International NV, EK Automation, Ek Automation, Frog AGV Systems B.V., Hyster-Yale Materials Handling, Inc., JBT Corporation, Seegrid Corporation, Swisslog Holding AG, Toyota Industrial Equipment, and such others. According to the AGV market report, the key players are expected to witness attractive growth opportunities from the emerging markets, during the forecast period. The North America and Europe regions are also expected to provide impressive growth opportunities for the key market players.

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