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Automated Guided Vehicle - Global Market Trajectory & Analytics

  • ID: 4804450
  • Report
  • April 2021
  • Region: Global
  • 833 pages
  • Global Industry Analysts, Inc
The global market for Automated Guided Vehicles (AGVs) is projected to reach US$2.6 billion by 2025 driven by the strong focus shed on automation and production efficiency in the era of smart factory and industry 4.0. Smart manufacturing is the new revolution that will mark the next generation of production. Self-aware, self-optimized, self-configured equipment with the ability to wirelessly communicate with each other; advanced networking; real-time controls; more closer alignment of business management and plant floor activities and supply chains; additive manufacturing are few of the disruptive smart factory trends currently underway. Among these, automation lies at the heart of the smart factory concept. Almost like the beating heart, automation provides the foundation for the creation of knowledge-embedded manufacturing operations. Automating labor intensive operations is the starting point for automation, and as the most labor intensive process in manufacturing and warehousing, material handling is at the bottom of the automation pyramid. Defined as the movement of products and materials throughout the manufacturing process, material handling is labor intensive and expensive. Benefits of automating material handling include reduced human role in unproductive, repetitive and labor intensive tasks and the ensuing freeing up of resources for other core activities; greater throughput capability; better space utilization; increased production control; inventory control; improved stock rotation; reduced operation cost; improved worker safety; reduced losses from damage; and reduction in handling costs.

The importance of production efficiency can be put into perspective by the fact that over 55% of factory operation managers earmark budgets for investing in resources that support achievement of higher production rates. Technology innovation in automation, in this regard, is a key factor to boost productivity. Benefiting from increased investments in factory automation are AGVs, the workhorse of every processing and manufacturing plant. AGVs help automate repetitive, labor intensive tasks such as carrying pallets, rolls, racks, carts, and containers. Modern AGVs have come a long way from simple materials handlers to the current intelligent autonomous robots that find their way across the plant floor using advanced auditory or visual or environmental stimulus. On the plant floor, these highly functional smart robots ensure on-time delivery of parts to the production/assembly line. Benefits offered by AGVs include round the clock transit of materials; traceability that ensures that the plant manager remains informed of the material movement around the facility; ability to time-stamp pick-up, transit and delivery of items which can help in route optimization and improvements; ability to integrate information generated by AGVs into enterprise resource planning (ERP) or materials resource planning (MRP) systems; among others.

AGVs are moving from wired operation to wireless operations. Benefits of wireless AGVs include enhanced plant safety; operational flexibility; superior delivery speeds as it eliminates bottlenecks and obstruction in movements commonly experienced with wired operation; ability to operate AGV fleets on the plant floor; overthrows the need to modify or reconstruct the factor environment which is often needed for wired AGVs; changes in route plans can be easily executed as wireless AGVs can record and store images, identify obstructions and calculate their position; ability to autonomously take decisions about the best route in a manner that avoids collisions. The United States and Europe represent large markets worldwide with a combined share of 52.3% of the global market. China ranks as the fastest growing market with a CAGR of 9.4% over the analysis period supported by the Made in China (MIC) 2025 initiative that aims to bring the country`s massive manufacturing and production sector into the forefront of global technology competitiveness. Inspired by Germany`s Industry 4.0, MIC 2025 will enhance adoption of automation, digital and IoT technologies. Faced with new and changing economic forces, the Chinese government through this initiative is stepping up investments in cutting edge robotics, automation and digital IT technologies to competitively integrate into the global manufacturing chain dominated by industrialized economies such as EU, Germany and the United States and move from being a low cost competitor to a direct added-value competitor.

Select Competitors (Total 73 Featured):
  • ABB
  • Amerden Inc.
  • Balyo, Inc.
  • Bastian Solutions, Inc.
  • Daifuku Co., Ltd.
  • Hyster-Yale Materials Handling, Inc.
  • Jungheinrich AG
  • John Bean Technologies Corporation
  • KION Group AG
  • Dematic Group
  • Konecranes India Pvt. Ltd.
  • KUKA AG
  • Swisslog Holding AG
  • Murata Machinery, Ltd.
  • Seegrid Corporation
  • SSI Schaefer - Fritz Schaefer GmbH
  • Toyota Industries Corporation
  • Vanderlande Industries
  • Universal Robots A/S
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Automated Guided Vehicle (AGV)
  • Types of Automated Guided Vehicles
  • Forklift Truck
  • Tow Vehicle
  • Pallet Truck
  • Other Types of AGVs
  • Navigation Technology in AGVs
  • Applications of AGVs
  • Advantages of AGVs
  • Standards for AGVs
  • Focus on Automation & Production Efficiency, the Foundation for Growing Investments in AGV
  • Tow Vehicles: The Largest Vehicle Type Segment in the Global AGV Market
  • Asia-Pacific to Spearhead Future Growth, while the US and Europe Dominate AGV Market
  • Global Economic Outlook
  • Exhibit 1: Real GDP Growth Rates in % by Country/Region for the Years 2017 through 2020
  • ABB (Switzerland)
  • Amerden Inc. (USA)
  • Balyo, Inc. (USA)
  • Bastian Solutions, Inc. (USA)
  • Daifuku Co., Ltd. (Japan)
  • Hyster-Yale Materials Handling, Inc. (USA)
  • Jungheinrich AG (Germany)
  • John Bean Technologies Corporation (USA)
  • KION Group AG (Germany)
  • Dematic Group (USA)
  • Konecranes India Pvt. Ltd. (India)
  • KUKA AG (Germany)
  • Swisslog Holding AG (Switzerland)
  • Murata Machinery, Ltd. (Japan)
  • Seegrid Corporation (USA)
  • SSI Schaefer - Fritz Schaefer GmbH (Germany)
  • Toyota Industries Corporation (Japan)
  • Vanderlande Industries (The Netherlands)
  • Universal Robots A/S (Denmark)
  • Focus on Implementing High Standards of Safety at Workplaces Favors AGV Market
  • Exhibit 2: Forklifts-related Accidents Raise Need for AGVs: Percentage Breakdown of Number of Fatalities Attributed to Forklift by Type of Accident in the US
  • AGVs: The Future of Manufacturing World
  • AGVs Assist in Enhancing Operational Efficiency of Factories
  • AGV Systems Promise to Transform the Logistics Marketplace
  • AGVs Transforming Intralogistic Processes in Factory Automation Space
  • Rapidly Growing Logistics Industry Presents Favorable Outlook for AGVs Market
  • Exhibit 3: Global Logistics Market Revenues in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • AGVs Offer Significant Benefits for Warehousing Operations
  • With Global E-Commerce Sales Skyrocketing, Emergence of E-Commerce Warehouses and Need to Automate Supply Chain Spurs Investments into AGVs
  • Robust Growth Anticipated for E-Commerce: An Opportunity to Tap for AGVs Market
  • Exhibit 4: Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
  • Exhibit 5: Global E-Commerce Market as a % of Retail Sales for the Period 2017-2023
  • Exhibit 6: Leading Retail E-Commerce Countries Worldwide: Ranked by Sales in $ Billion for 2019E
  • Rapid Adoption of Automation Technologies in Material Handling Processes Fuel AGVs Market Growth
  • AGVs Emerge as Important Constituents of Industry 4.0 Revolution and Shift towards Smart Manufacturing Facilities
  • As Industry 4.0 and Logistics 4.0 Come Together, AGVs to Play an Even Greater Role
  • Advancements Lead to Expanded Opportunities for AGVs
  • AGV System in Healthcare Settings: An Area of Growth
  • AGVs Increase Productivity in Maritime Industry
  • Automotive Industry: A Major End-Use Market for AGVs
  • Enabling Flexible and Efficient Production Operations: A Significant Advantage of AGVs in Automotive Industry
  • Navigation Technologies for AGVs in Automotive Assembly Lines
  • Automotive Companies Take the Lead in Automation of Automated Guided Vehicles
  • Increase in Automobile Production: An Opportunity for AGVs Market
  • Exhibit 7: Global Passenger Cars Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019, 2022
  • AGVs Adoption in Food & Beverage Manufacturing Bolstered by Flexibility, Scalability and Safety Advantages and Ability to Address Labor Shortage
  • Top Reasons for Adoption of AGVs in Food & Beverage Manufacturing
  • Exhibit 8: Global Sales of Processed Foods in US$ Billion for Years 2014, 2016, 2018 and 2020
  • Exhibit 9: Global Beverages Market in US$ Trillion for the Years 2018, 2020 & 2022
  • Charging of Battery-Operated AGVs Becomes a Challenge for Warehouses
  • With Electrically-driven AGVs Becoming Integral to Logistics Applications, Need for Sophisticated Charging Systems Gains Prominence
  • Growing Significance of AGVs in Process Automation Gives Rise to Safety Concerns
  • Emergence of Advanced Navigation Systems to Result in Greater Scalability and Flexibility of AGVs
  • Advances in Motion Control Technology to Play a Critical Role in Enhancing Efficiency and Reducing Footprint of AGVs
  • New Technologies with Tremendous Potential for AGVs Market
  • AGVs to Benefit from the Increasing Implementation of AI in Factories
  • Smart Technologies such as AI, IoT and Machine Learning Foster Development of Faster and Smarter AGVs
  • AGVs Address the Needs of SMEs
  • Issues Related to the Use of AGVs for Material Handling Applications
  • Autonomous Vehicles: The Ultimate Future of Material Handling Automation
  • Innovations & Advancements
  • Numerous Benefits Provided by AGVs to Drive their Adoption
  • ILIAD Project Seeks to Integrate Artificial Intelligence into Autonomous Forklifts
  • ASTI and 5TONIC Team Up to Research on Application of 5G Technology to AGVs
  • Rocla Develops New AGV Solution, Rocla ART, for Warehousing Operations
  • Mecfor Unveils AGV Prototype for Use in Aluminum Smelters
III. MARKET ANALYSIS
  • Automated Guided Vehicle Manufacturing Market in the US: An Overview
  • Competitive Landscape
  • Market Analytics
  • Japan: A Growing Market for AGVs
  • China’s AGV Market: Experiencing Strong Growth
  • Booming E-Commerce Market in China Spurs Demand for AGVs
  • Exhibit 10: Robust Growth of E-Commerce Market Bolsters Growth in AGVs Market: Chinese Retail E-Commerce Market Size in US$ Billion for the Years 2017, 2019, 2021 and 2023
  • Exhibit 11: Number of Online Shoppers in Millions in China for the Years 2018, 2020 and 2022
  • Leading Players
  • Exhibit 12: Leading Players in the Chinese Automated Guided Vehicle Market by Value Share (in %): 2019
  • Market Analytics
  • Strong Online Retail Market Fuels Investments into AGVs
  • Market Analytics
  • Rising Need for Automation Fosters Adoption of AGVs in Asia-Pacific
  • Flipkart Launches India’s First AGVs for Sortation Center
  • Market Analytics
IV. COMPETITION
  • Total Companies Profiled: 73
Note: Product cover images may vary from those shown
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