Global Automated Guided Vehicle Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026

The Global Automated Guided Vehicle Market Report Overview:

“The global automated guided vehicle Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

The global automated guided vehicle market report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026.

The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automated guided vehicle market report has been segmented on the basis of type, navigation technology, application, end-use industry, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Automated guided vehicle (AGV) also known as automatic guided vehicle system (AGVS) is a computer controlled wheel based load carrier that run without the need of an onboard driver or operator. The automatic guided vehicle follows the markers or uses lasers technology or vision to commute from one point to other.

Increasing demand for automated systems for material handling, distribution, etc. from various industries across the globe is a major factor driving growth of the global automated guided vehicle market. In addition, increasing adoption of automated guided vehicle systems by automotive and manufacturing sector is another factor expected to further drive growth of the global market to a significant extent over the forecast period.

High installation cost of automated guided vehicle systems is a major factor hampering growth of the global automated guided vehicle market.

Rising demand for automated systems from e-commerce sector and increasing demand for intelligent and customizable automatic guided vehicle are expected to create lucrative business opportunities for major manufacturers in the global market over the forecast period.

The market in North America accounts for highest revenue share in the global automated guided vehicle market and is expected to maintain its dominance over the forecast period. Presence of major manufacturers and increasing adoption of automated guided vehicles in manufacturing plants are major factors driving growth of the North America automated guided vehicle market.

The Europe automated guided vehicle market is expected to witness significant growth and is expected to register a CAGR of X.X% over the forecast period, owing to increasing adoption of AGV in automotive manufacturing plants.

The Asia Pacific automated guided vehicle market is expected to witness highest growth and is projected to register a CAGR of XX.X% over the next 10 years. This growth can be attributed to increasing demand for automated guided vehicles from manufacturing, logistics, and consumer electronics sector in countries in this region.

Global automated guided vehicle market segmentation:

Segmentation on the basis of type:

• Tow Vehicle
• Unit Load career
• Pallet Truck
• Forklift Truck
• Others

Segmentation on the basis of navigation technology:

• Laser Guidance
• Magnetic Guidance
• Natural Navigation
• Vision Guided

 Segmentation on the basis of application:

• Logistics
• Assembly and Packaging

Segmentation on the basis of end-use industry:

• Automotive
• Manufacturing
• Food and Beverage
• Aerospace
• Healthcare
• Retail
• Others

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa