An automated guided vehicle, also known as automatic guided vehicle (AGV), is a compact robot that follows the long lines or wires marked on the floor or uses vision cameras, magnets, lasers, or radio waves for navigation. It is a material handling system or load carrier that can move autonomously throughout a warehouse, distribution center, and manufacturing plant, without an onboard operator or driver. It is most often used in industrial applications to transport heavy materials across a large industrial building, such as a warehouse or a factory.

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The key factors contributing to the growth of the Global Automated Guided Vehicle market include the strong demand for automation in material handling across numerous industries, the growing adoption of e-commerce, enhanced safety standards at workplaces, and significant shift in the demand from mass production to mass customization. The automated guided vehicle helps to reduce labor cost by replacing human workers, enhances safety as it equipped with cameras, lasers, and other sensors, and improves accuracy and productivity. Moreover, the integration of industry 4.0 with robotics, growing adoption of industrial automation among small and medium-sized enterprises is creating new growth opportunities in the market during the forecast period. On the other hand, the high cost of installation, the regular maintenance requirement, and technical challenges associated with sensing elements are restraining the growth of the market.

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Based on the type, the other type segment is expected to grow at a higher CAGR during the forecast period owing to the increasing adoption of other types of AGVs such as hybrid and customized AGVs. Manufacturers of AVS are developing hybrid and customized AGVs to serve the variety of material-handling requirements across various industries. Hybrid and customized AGVs help to move and handle a wide variety of industrial loads ranging from small to heavy pallets, which is widely used in material automation all over the plant or warehouse.

Based on the navigation technology, the laser-guided segment is projected to lead the market during the forecast period. The increasing adoption of laser-guided AGVs across industries to provide accurate navigation and flexible system for vehicle movement are the major factors driving the growth of the market. In addition to this, it offers flexibility, scalability, high accuracy related to operations, enhances productivity, provides safety, and reduces downtime. All these factors will attract a large number of end-users to opt for laser-guided technology based vehicles.

Based on the application, the distribution segment is expected to grow at a higher CAGR during the forecast period. The continuous expansion in the e-commerce industry is increasing the number of warehouses, which in turn, is boosting the demand for AGVs in distribution centers. The distribution center plays a significant role in order processing as various operations, such as order fulfilment, cross-dock facility, and package handling, take place in the distribution centers. The growing number of challenges in the distribution centers, including the need for a large number of workforce to handle inventory, minimal accuracy & throughput operations, and other issues, are promoting the usage of AGVs in the distribution centers.

Based on industry, the retail segment is anticipated to lead the market during the forecast period owing to the growing retail sector driven by the rapid growth in the e-commerce industry. The increasingly emphasis on bringing automation in material handling and to reduce operational cost is surging the growth of the AGVs market during the forecast period.  Moreover, the growing globalization and development of online retailing and bulk retailing are escalating the requirement for automated material handling equipment in the retail industry. The global giants are mainly focusing on operating efficiently due to the growing pressure on retail companies to meet the changing demand of its customers, which directly boosts the growth of the market.

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Based on the region, Asia-pacific is projected to grow at a higher CAGR in the global Automated Guided Vehicle market over the forecast period owing to the rapid growth in various industries including healthcare, automotive, food & beverage industries, especially in the developing economies such as China, India, and Korea. Moreover, the government of this region is focusing on improving the safety and security on the production floor, which will encourage the adoption of AGVs in the coming years. The AGVs are widely adopting by countries such as Japan and China, driven by the increasing investment of manufacturers and suppliers to install AGVs in warehouses and distribution centers. All these factors are responsible for accelerating the growth of the market during the forecast period.

The major key players in the market include Daifuku Co., Ltd., JBT Corporation, Kion Group AG, KUKA AG, Toyota Industries Corporation, Hyster-Yale Materials Handling, Inc., Oceaneering International, Inc., E&K Automation GmbH, Kollmorgen Corp., Seegrid Corporation, SSI SCHÄFER FRITZ SCHÄFER GMBH among others.

Key Developments:

• • In Apr 2019, Daifuku acquired India-based, Vega Conveyor & Automation. Vega is involved in consulting, design, manufacture, installation, and after-sales service of conveyors and other material handling equipment in the Indian market.
  • In Mar 2019, JBT Corporation entered into a partnership with Crown Equipment to provide its clients with increased access to their shared portfolio of automation capabilities and helping the customers to achieve a tangible return on investment (RoI).

The Global Automated Guided Vehicle market has been segmented based on the type, navigation technology, application, industry, and region. Based on type, the market is segmented into Tow vehicles, unit load carriers, pallet trucks, assembly line vehicles, forklift trucks, and others. Based on navigation technology, the market is segmented into laser guidance, magnetic guidance, inductive guidance, optical tape guidance, vision guidance, and others. Based on the application, the market is segmented into transportation, distribution, storage, assembly, packaging, and waste handling. Based on the industry, the market is segmented into automotive, manufacturing, food & beverages¸ aerospace, healthcare¸ logistics, retail, and other.

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Key questions answered in this research report:

• • At what pace is the global Automated Guided Vehicle market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Automated Guided Vehicle market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Automated Guided Vehicle market?
  • Which Type generated maximum revenues in 2019 and identify the most promising Type during the forecast period?
  • What are the various application area of the global Automated Guided Vehicle market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Navigation Technology, By Application, By Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Daifuku Co., Ltd., JBT Corporation, Kion Group AG, KUKA AG, Toyota Industries Corporation, among others, a total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Automated Guided Vehicle Market by Type  

• • Tow Vehicles
  • Unit Load Carriers
  • Pallet Trucks
  • Assembly Line Vehicles
  • Forklift Trucks
  • Other Types

Global Automated Guided Vehicle Market by Navigation Technology 

• • Laser Guidance
  • Magnetic Guidance
  • Inductive Guidance
  • Optical Tape Guidance
  • Vision Guidance
  • Others

Global Automated Guided Vehicle Market by Application     

• • Transportation
  • Storage
  • Distribution
  • Assembly
  • Packaging
  • Waste Handling

Global Automated Guided Vehicle Market by Industry          

• • Automotive
  • Manufacturing
  • Food & Beverages
  • Aerospace
  • Healthcare
  • Logistics
  • Retail
  • Other

Global Automated Guided Vehicle Market by Region

• • North America Automated Guided Vehicle Market (Option 1: As a part of the free 25% customization)
    • North America Automated Guided Vehicle Market by Type
    • North America Automated Guided Vehicle Market by Navigation Technology
    • North America Automated Guided Vehicle Market by Application
    • North America Automated Guided Vehicle Market by Industry
    • US Automated Guided Vehicle Market All-Up
    • Canada Automated Guided Vehicle Market All-Up
  • Europe Automated Guided Vehicle Market (Option 2: As a part of the free 25% customization)
    • Europe Automated Guided Vehicle Market by Type
    • Europe Automated Guided Vehicle Market by Navigation Technology
    • Europe Automated Guided Vehicle Market by Application
    • Europe Automated Guided Vehicle Market by Industry
    • UK Automated Guided Vehicle Market All-Up
    • Germany All-Up Automated Guided Vehicle Market All-Up
    • France Automated Guided Vehicle Market All-Up
    • Spain Automated Guided Vehicle Market All-Up
    • Rest of Europe Automated Guided Vehicle Market All-Up
  • Asia-Pacific Automated Guided Vehicle Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Automated Guided Vehicle Market by Type
    • Asia-Pacific Automated Guided Vehicle Market by Navigation Technology
    • Asia-Pacific Automated Guided Vehicle Market by Application
    • Asia-Pacific Automated Guided Vehicle Market by Industry
    • China Automated Guided Vehicle Market All-Up
    • India Automated Guided Vehicle Market All-Up
    • Japan Automated Guided Vehicle Market All-Up
    • Rest of APAC Automated Guided Vehicle Market All-Up
  • RoW Automated Guided Vehicle Market (Option 4: As a part of the free 25% customization)
    • RoW Automated Guided Vehicle Market by Type
    • RoW Automated Guided Vehicle Market by Navigation Technology
    • RoW Automated Guided Vehicle Market by Application
    • RoW Automated Guided Vehicle Market by Industry
    • Brazil Automated Guided Vehicle Market All-Up
    • South Africa Automated Guided Vehicle Market All-Up
    • Saudi Arabia Automated Guided Vehicle Market All-Up
    • UAE Automated Guided Vehicle Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Automated Guided Vehicle Market All-Up

Major Players Operating the Automated Guided Vehicle (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Daifuku Co., Ltd.
  • JBT Corporation
  • Kion Group AG
  • KUKA AG
  • Toyota Industries Corporation
  • Hyster-Yale Materials Handling, Inc.
  • Oceaneering International, Inc.
  • E&K Automation GmbH
  • Kollmorgen Corp.
  • Seegrid Corporation
  • SSI SCHÄFER FRITZ SCHÄFER GMBH