|
|
(Transportation-News.com, February 14, 2019 ) According to MarketsandMarkets, the automated guided vehicle (AGV) market is expected to grow from USD 1.86 billion in 2018 to USD 2.74 billion by 2023, at a CAGR of 8.02% between 2018 and 2023. The major factors driving the growth of the AGV market include the rising demand for automation in material handling across industries, emerging e-commerce industry, increasing requirement for workplace safety standards, and growing productivity due to improved supply chain processes.
Don’t miss out on business opportunities in automated guided vehicle (AGV) market. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=27462395
In this report, the AGV market has been segmented on the basis of type, navigation technology, battery type, application, industry, and geography.
On the basis of type, tow vehicles accounted for the largest share of the AGV market in 2017. The tow vehicle, also known as tugger, pulls non-powered carts carrying heavy loads. This is the most productive AGV used for towing and tugging as it can move heavy loads with multiple trailers than a single fork truck. The tow vehicle has the ability to automatically pick up a load without any human interface, or loading/unloading can be done manually. Tow vehicles are used for pallet operations requiring frequent long-distance deliveries carrying high volumes of the load.
Laser guidance technology accounted for the largest share of the AGV market, based on navigation technology, in 2017. Laser guidance is the most flexible system for vehicle movement and offers accurate navigation. It has reflectors mounted on walls along the vehicle’s route. Onboard AGV is a rotating laser light beam source that detects its reflections and receives information on distance and angle, which gets stored in the vehicle memory. The AGV can calculate its position based on this information.
On the basis of battery type, the lead battery accounted for the largest share of the AGV market in 2017. The lead battery is a mature energy storage technology used in the conventional automotive and power sectors. It is the oldest type of rechargeable battery and is most suitable for automated guided vehicle applications. Lead-acid batteries are generally used in AGV systems as these batteries have the highest power-to-size ratio in comparison with conventional batteries.
Browse and in-depth TOC on "automated guided vehicle (AGV) market"
78 - Tables
61 - Figures
176 - Pages
View more detailed TOC @
https://www.marketsandmarkets.com/Market-Reports/automated-guided-vehicle-market-27462395.html
On the basis of application, the transportation application accounted for the largest share of the AGV market in 2017. Transportation systems rapidly and efficiently connect the receipt of goods, production, order picking, and material shipment within the plant. They also aid the movement of goods around a warehouse to improve material handling efficiency and productivity while maximizing profits. AGVs are widely used for automatic transportation of materials from one location to another, which maximizes productivity, reduces costs, prevents infrastructure damages and accidental injuries, and optimizes space.
On the basis of industry, the automotive industry accounted for the largest share of the AGV market in 2017. The automotive industry is enhancing its manufacturing operations through automated, efficient, and effective processes. Automotive suppliers have made rapid progress in automotive storage with innovative product technologies and by enabling real-time information for the efficient delivery of high-quality products.Europe’s largest market size is due to the exceptionally high labor cost in the region. Manufacturers in European countries have been adopting automated solutions to reduce the overall operational cost. Implementing automated material handling solutions also helps manufacturers maintain a competitive edge by facilitating the efficient management of overall warehousing operations.
Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=27462395
Daifuku (Japan), JBT Corporation (US), KION Group (Germany), KUKA (Germany), Toyota Industrial (Japan), Hyster-Yale Materials Handling (US), Kollmorgen (US), EK Automation (Germany), Seegrid Corporation (US), and SSI Schaefer (Germany) are among a few major players in the AGV market.
Browse Adjacent Markets @ Semiconductor and Electronics Market Research Reports & Consulting
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Website: http://www.marketsandmarkets.com/
MarketsandMarkets
Mr. Shelly Singh
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
|
