Automated Guided Vehicle Market Overview:
A research team conducted extensive primary and secondary research for the Automated Guided Vehicle market analysis of the global industry. Secondary research was conducted to supplement the available information, segment the market, calculate the overall market size, and forecast market size and growth rate.
The market’s numerous users are discussed, along with the factors driving the global Automated Guided Vehicle market’s growth. Market participants, geographic areas, and particular requirements all contribute data. This study proposal is ready for the market and provides a thorough overview of all the important advancements that are currently prevalent across all market segments. Presenting key data analysis as statistics, infographics, and presentations is recommended.
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Automation in Material Handling Operations is in High Demand across Sectors:
The need for automation is expanding in the automotive, healthcare, e-commerce, and food and beverage industries due to the overall need for high efficiency. Material handling capacity requirements will be met using AGV-enabled automation of industrial facilities, which will save production time, increase safety, ensure high production volumes, and improve accuracy and repeatability. Just-in-time (JIT) supply of raw materials, computerised control of received assembled parts, and tracking of delivered items are all possible with AGVs.
Automated Guided Vehicle Market Segmentation:
In terms of industry, the automotive sector accounted for the largest share of automated guided vehicles (AGVs) in 2020 and is predicted to experience the highest CAGR of 9.45% by 2027. The growing after-sales spare parts market, rising levels of vehicle customization, and the requirement to ensure the availability of various parts crucial to vehicle assembly are driving forces behind the use of AGVs in the automotive industry. Economic effects of COVID-19 are anticipated to have an effect on the auto sector, which will have an impact on the expansion of the global AGV market in 2020.
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Automated Guided Vehicle Market Key players:
- Dematic
- JBT
- Seegrid Corporation
- TOYOTA INDUSTRIES CORPORATION
- Hyster-Yale Materials Handling, Inc.
- BALYO
- E&K Automation GmbH
- Kollmorgen
- KMH Fleet Solutions
- ELETTRIC80 S.P.A.
- Fetch Robotics, Inc.
- inVia Robotics, Inc.
COVID-19 Impact on Automated Guided Vehicle market:
The COVID-19 outbreak has had a significant impact on the Automated Guided Vehicle market. Due to the global economic downturn and a labour shortage, the development of Automated Guided Vehicle production facilities has been put on hold. The COVID-19 pandemic has caused a significant and sustained decline in production utilisation. Additionally, staff visits to their facilities have been hindered by travel restrictions and facility closures, which will restrain the growth of the Automated Guided Vehicle market in 2020. However, given the high demand for Automated Guided Vehicle, the market effects of COVID-19 are anticipated to be transient. By the beginning of 2021, the industry is anticipated to fully recover.
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