2022 Projections puts Europe Automated Guided Vehicles Market at $1.09 billion

The Europe AGV market is valued at USD 0.613 billion in 2016 and is expected to reach a value of USD 1.09 billion by the end of 2022, growing at a projected CAGR of 10.08% during the forecast period of 2017– 2022.

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Automated guided vehicles (AGVs) have undergone incremental technological innovations over the years, ranging from the incorporation of on-board processors, actuators, to new forms of control processors for enabling better performance and system utilization. AGVs can be defined as self-driven vehicles comprising a control unit, guide path, sensors, and interfaces, programmed to perform a diverse set of operations. They are considered as the most flexible type of material handling systems. The latest range of AGVs is equipped with on-board processors, position feedback systems and advanced system controllers. These systems enable optimal system utilization, position tracking and safer handling of materials. Their size ranges from small load carriers of a few kilograms to over 125-ton transporters. The vehicles' working environment ranges from small offices with carpet floor to huge harbor dockside areas.

The automated guided vehicles systems market has been driven by many factors such as rising demand for automation, increased emphasis on workplace safety, technological advancements in the field of automated guided vehicles systems, need for greater predictive maintenance and productivity across major verticals, etc. The global economic outlook is promising, with the manufacturing sector across major economies showing improvement over the last few years. Consumer spending is also on the growth trajectory. These factors are driving the automated guided vehicles market, globally. Rapid growth in e-commerce and the emergence of flexible manufacturing systems are some of the major growth opportunities that could drive the future of this market.

The growth of automated guided vehicles market is being hindered by certain factors such as high initial costs, need for skilled workforce and concerns over replacement of manual labor, etc. However, the investment for automation is often considered as a technology upgrade rather than as a stand-alone application. Conversely, exorbitant initial costs and the need for skilled personnel, ensuring smooth integration and functioning, could impede the market growth over the forecast period.

The Europe automated guided vehicles market is segmented by type into unit load carriers, tow vehicles, pallet trucks, assembly line vehicles, forklift vehicles, clamp vehicles, and others. Tow vehicles and unit load carriers hold the largest market share in this segment. The overall growth of pallet trucks and assembly line vehicles are expected to be as high as 12.38% and 12.19%, respectively, during the forecast period. By industry, the market has been segmented into energy, transport/logistics, healthcare, retail, manufacturing, and others. The automotive industry holds a major chunk in the AGV market, with a share of 23.18%, followed by manufacturing, transportation/logistics and others. Transportation and logistics sector is expected to witnesses the fastest CAGR growth over the forecast period.

The geographical coverage of the automated guided vehicles systems market in the European region includes Germany, the UK, France, Italy, Russia, Spain and others.

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The key market players include

Beumer Group
Daifuku Group
Dematic Group
Flexlink AB
Mecalux, S.A.
Murata Machinery
Swisslog Holding
SSI Schaefer

Key Deliverables of the Study:

Market definition of the automated guided vehicles in Europe, along with market drivers and restraints.
Market segmentation and the corresponding market share analysis.
Region-specific competitive market analysis of automated guided vehicles in the European market.
Analysis of the key factors that influence the market scenario, along with the growth opportunities.
Identifying the market leaders and analysing their strategic moves and their market share.
Coverage of the market landscape, along with the geographical foot print, key growth strategies and competitive market share analysis.

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