The Automated Guided Vehicle Market size was valued at 4.02 billion in 2021 and is predicted to reach 8.66 billion by 2030 with a CAGR of 8.9% from 2022-2030. Automated guided vehicle is the material handling automated machines that are programmed to move carts, trays, and pallets in different warehousing and manufacturing facilities. The automation through automated guided vehicle (AGV) aids the requirement for material handling capacity, decreasing production time in the process. Also, the chances of human errors in production decrease drastically, ensuring increased volume of production, accuracy, and improved safety. It enables computerized control of received assembled parts, in-time delivery of raw material, and tracking of shipped articles. Moreover, it helps store, distribute, and transport material without human intervention; thereby, ruling out the possibilities of injuries to workers and damage to products. Companies such as Walmart and Amazon are focusing on the automation of material handling process to reduce operation cost and increase the inventory size. Market Segmentations and Scope of the Study: The automated guided vehicle market size has been segmented based on type, navigation technology, payload capacity, battery type, mode of operation, application, industry verticals, and geography. Based on type, the market is divided into tow vehicles, unit load carriers, pallet trucks, assembly line vehicles, forklift vehicles, and other types. Based on navigation technology, the market is bifurcated into laser guidance, magnetic guidance, inductive/wire guidance, optical tape guidance, vision guidance, and other technologies. Based on payload capacity, the market is divided into low (below 250 kg), medium (251kg to 1000 kg), and high (more than 1000 kg). Based on battery type, the market is divided into lead battery, lithiumion battery, nickel-based battery, and others. Based on mode of operation, the market is categorized into indoor, and outdoor. The application segment is classified into logistics and warehousing, assembly, packaging, trailer loading & unloading, raw material handling, and other applications. Based on industry verticals, the market is divided into automotive, metals & heavy machinery, railways, semiconductors & electronics, chemicals, healthcare, aviation, e-commerce & logistics, food &beverages, and other verticals. The automotive segment is further sub-segmented into press shop, and assembly line. The railways are further subsegmented into maintenance, transport, and manufacturing. The geography breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and ROW. Request for a free sample- https://www.nextmsc.com/automated-guided-vehiclemarket/request-sample Geographical Analysis
North America holds the lion share of global automated guided vehicle market and is expected to continue dominating the market during the forecast period. The North America has emerged as the largest regional market in 2020 due to increase in expenditure across the U.S. and Canada. In addition, the U.S is witnessing continuous growth in import and export activities. Moreover, the modern manufacturing facilities in North America rely on technological innovation to maximize the product’s quality. Automation has gained major importance to improve the customer-fulfillment side of operations, particularly for retail and e-commerce, especially due to longer onboarding and training, and shortages in labor. According to the Bureau of Labor Statistics, in 2020, the total number of warehouses in the U.S. were 19,190 as compared to 18,736 in 2019; thereby, driving the market. However, Asia Pacific is expected to show a steady rise in the automated guided vehicle market due to the easy availability of affordable automation services as there are highly fragmented market and rising production in the automobile sector. Also, with the growing e-commerce demand in emerging countries such as Japan, China, and India, the e-commerce companies have been deploying automated guided vehicles at their warehouses. Inquire
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https://www.nextmsc.com/automated-guided-vehicle-market/inquire-before-buying Competitive Landscape The automated guided vehicle market comprises of various players such as AGILOX, ASTI, AVT, Toyota Forklift, DS Automotion, EK Robotics, Seegrid Corporation, MIR, Nipper, OTTO Motors, Rethink Robotics, Stanley Innovation, and Husarion. These manufacturers are actively indulging in R&D initiatives, product & technology innovations, and industrial collaborations to enhance their product and increase their growth as well as geographical reach. For instance, in December 2020, Toyota Forklift had announced that they have introduced two new autonomous warehouse vehicles that are core tow tractor automated forklifts and center-controlled rider in partnership with Toyota Advanced Logistics firm. These autonomous mobile robots were designed for manufacturing facilities and distribution center operations where tasks are highly standardized, and easily completed without the help of advanced human management. About Us: Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We carefully analyse the
historical data, augment it by constantly keeping an eye on the latest industry trends and estimate the future events to arrive at accurate market forecasts. For more insights, please visit, https://www.nextmsc.com
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