Global Automated Guided Vehicle Market
Dublin, July 08, 2022 (GLOBE NEWSWIRE) -- The "Automated Guided Vehicle Market Size, Share & Trends Analysis Report by Vehicle Type, by Navigation Technology, by Application, by End Use Industry, by Component, by Battery Type, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering. The global automated guided vehicle market size is expected to reach USD 9.38 billion by 2030. The market is anticipated to reach a CAGR of 10.2% from 2022 to 2030.
Automated guided vehicles (AGVs) have transformed the way materials can be moved within the manufacturing and distribution facilities. In a production environment where several operations are carried out simultaneously, these vehicles ensure a predictable and reliable transfer of raw materials as well as manufactured products from one point to another point within the facility, thereby eliminating any potential disruption in production. These vehicles can operate safely around structures, machinery, and employees, as they are equipped with accessories, such as camera vision and LiDAR sensors, among others, which help in detecting junctions, identifying floor signs, and avoiding collisions with any obstacle. Several manufacturing plants and warehouses are deploying material handling equipment for various activities, such as locating stock, picking orders, and moving products and raw materials. Transportation and logistics firms are mainly focusing on the deployment of such equipment to boost the efficiency of their operations in line with the growing demand for their services. The AGV market is witnessing a progressive switch from lead-acid batteries to lithium-ion batteries. Lithium-ion batteries offer several advantages over lead-acid batteries. They tend to be lighter and compact. They can charge faster, provide longer runtimes, and support more charge cycles. Hence, they are ideal for AGVs, as they need not be charged frequently during operating shifts or in 24x7 operating environments, and AGVs running on lithium-ion batteries can offer higher round-trip efficiencies. Report Highlights
The adoption of material handling equipment and automation solutions is growing significantly across several industries.
The growing adoption of AGVs by the automotive industry as well as the automotive supply industry to move intermediate products within the facility is expected to drive the growth of the AGV market.
The manufacturing industry is increasingly adopting AGVs to save on labor costs. While AGV can operate on a 24x7 basis, the costs associated with the procurement and maintenance of AGV tend to be lesser than the costs incurred on salaries and employee benefits.
The logistics and warehousing segment happen to be the largest application of AGVs. The segment generated the highest revenue in 2021 and is expected to retain its dominance during the forecast period.
The European regional market dominated the global AGVs market in 2021. However, the Asia Pacific regional market is projected to expand at the highest CAGR from 2022 to 2030.
Increasing Demand for Automation and Material Handling Equipment in Various Process Industries
Replacement of Conventional Batteries with Lithium-Ion Batteries
Manufacturers Introducing Vision Guided Vehicles and Mobile Robots
Singular Use and Lack Of Flexibility
Key Topics Covered: Executive Summary
AGV-Industry Snapshot & Key Buying Criteria, 2017-2030
Market Size and Growth Prospects
Industry Analysis-Porter's Five Forces Analysis
Major Deals & Strategic Alliances Analysis
AGV Market: Vehicle Type Estimates and Trend Analysis
AGV Market: Navigation Technology Estimates & Trend Analysis
Heat Map For Choosing Navigation
AGV Market: Application Estimates & Trend Analysis
AGV Market: End-Use Industry Estimates & Trend Analysis
AGV Market: Component Estimates & Trend Analysis
AGV Market: Battery Type Estimates & Trend Analysis
AGV Market: Regional Estimates and Trend Analysis Company Profiles
E&K Automation GmbH
For more information about this report visit https://www.researchandmarkets.com/r/m6ibi0
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Global Automated Guided Vehicle Market
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