Research Nester published a report titled “Automated Guided Vehicle (AGV) Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global automated guided vehicle (AGV) market in terms of market segmentation by type, battery type, application, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The global automated guided vehicle (AGV) market is estimated to occupy a sizeable amount of revenue by recording a CAGR of ~14% during the forecast period, i.e., 2023 – 2035, owing to the increasing demand for automation in material handling industry around the world, and growing popularity of e-commerce. Apart from these, shifting demand from mass production to mass customization, and escalating collaboration between logistics-based companies and tech giants to deploy industrial and autonomous robots in warehouses are also expected to drive market growth in the upcoming years.
The market is segmented by type, battery type, application and end user. Based on battery type, the lead segment is anticipated to hold the largest share during the forecast period on the back of long service life, high cost-effectiveness and long service life provided by these batteries. Additionally, by application, the logistics and warehousing segment is projected to gather the largest share over the forecast period ascribing to the rising adoption of modern retrieval and automated storage systems among enterprises.
Geographically, the global automated guided vehicle (AGV) market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Europe is evaluated to grab the largest share in the market during the forecast period attributing to the growing production of vehicles in the region. Moreover, Asia Pacific is predicted to register noteworthy market growth over the forecast period in view of the rapid expansion of e-commerce in China and India, and increase in emphasis on safety and security on production floors in the region.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Demand for Automation in Material Handling Industries Worldwide to Drive Market Growth
The need for high efficiency in healthcare, automotive, e-commerce and automotive industries is raising the demand for automation. As a result, many players in these sectors are shifting to AGV-enabled automation of industrial facilities which can help in meeting the requirements associated with material handling capacity and reducing production time. This in turn is predicted to drive the market growth in the near future.
However, high cost of installing and maintaining AGV is expected to operate as key restraint to the growth of the global automated guided vehicle (AGV) market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global automated guided vehicle (AGV) market which includes company profiling of Swisslog Holding AG, Seegrid Corporation, TOYOTA INDUSTRIES CORPORATION, Hyster-Yale Materials Handling, Inc., Bastian Solutions, Inc., Daifuku Co., Ltd., ELETTRIC80 S.P.A., Fetch Robotics, Inc., HIT Robot Group, Schaefer Systems International, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automated guided vehicle (AGV) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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