Automated Guided Vehicle (AGV) Market: Automotive End User Segment to Hold More Than One-Fourth Market Share During the Forecast Period: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027.
FMI delivers key insights on the global automated guided vehicle market in its latest report titled ‘Automated Guided Vehicle Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027.’ The long-term outlook on the global automated guided vehicle market remains positive with the market value expected to increase at a CAGR of 10.6% during the forecast period (2017-2027). Among applications, the transportation application is expected to expand at a significant CAGR, in terms of value, over the forecast period. The transportation application segment of the global automated guided vehicle market is estimated to hold than 50% share throughout the forecast period. Among vehicle types, unit load carrier segment is estimated to have accounted for high value share in the global automated guided vehicle market by 2017 end and is projected to be the most prominent vehicle type during the forecast period as well. In this report, FMI throws light on drivers and restraints likely to impact the market during this period.
Growth of End-use Industries to Drive the Automated Guided Vehicle Market
Automotive, mining, construction, waste management and petrochemical industries will create potential growth opportunities for the manufacturers of automated guided vehicles. Construction and industrialization is increasing across the globe and, in turn, is accelerating the growth of the automated guided vehicle market. Expanding petro-chemical and mining industry, especially in Europe and MEA, is expected to propel the demand for material handling solutions. This, in turn, will increase the demand for automatic guided vehicles to facilitate cost-effective movement of materials, provide safety for operators and increase productivity of bulk material handling. The growing waste management industry is also anticipated to add to the growth of the automated guided vehicle market. Increasing awareness among people regarding environment safety is projected to fuel the growth of waste management industry. This, in turn, will push the growth of the logistics industry. Capabilities, such as high load carrying capacity, precision and speed, in the automated guided vehicles will furthermore drive the demand in the market.
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Segmentation Analysis of the Automated Guided Vehicle Market
The automated guided vehicle market is segmented on the basis of vehicle type, navigation technology, application and end user.
Unit load carriers are projected to continue to lead the market in terms of value over the forecast period. The unit load carrier segment of the automated guided vehicle market is estimated to grow at a significant CAGR over the forecast period. It is expected to represent total incremental opportunity of US$ 453.2 Mn between 2017 and 2027. The pallet truck segment is projected to grow at a relatively high CAGR as compared to other vehicle types over the forecast period.
In terms of value, the automotive segment is projected to be the most prominent end user in the automated guided vehicle market. The market share of the automotive segment is estimated to be more than 25% in the automated guided vehicle market throughout the forecast period. Apart from the automotive segment, the food & beverage segment is estimated to grow at a significant CAGR of 10.7%, in terms of value, over the forecast period.
Regional Market Projections of the Automated Guided Vehicle Market
The automated guided vehicle market in North America is expected to represent significantly high incremental opportunity between 2017 and 2027. The market of automated guided vehicles in North America is expected to represent total incremental opportunity of US$ 587.6 Mn between 2017 and 2027.
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Automated Guided Vehicle Market Participants
The report highlights some of the top companies operating in the automated guided vehicle market, such as Murata Machinery, Transbotics Corporation, JBT Corporation, Seegrid Corporation, Kuka AG, BEUMER Group GmbH & Co. KG, Oceaneering International Inc., S.A, Bastian Solutions, Inc., Omron Adept Technologies, Inc., Mecalux, AGVE Group, Inc., Toyota Industries Corporation, E&K Automation GmbH, SSI Schaefer, Daifuku Co., Ltd., Robotnik, Kion Group AG, Cassioli Srl, AVT Europe NV, and Kollmorgen.