LONDON, Oct. 17, 2016 /PRNewswire/ -- "Automated guided vehicle market to grow at a CAGR of 10.2%"
The automated guided vehicle market is expected to reach USD 2.81 billion by 2022, growing at a CAGR of 10.2% between 2016 and 2022. Advances in automation, emphasis on workplace safety, and growing efforts to reduce operational cost and enhance overall performance are attributed to the growth of the automated guided vehicle market.
"The aerospace industry segment of the automated guided vehicle market is expected to grow at the highest rate during the forecast period"
The automotive industry contributes the maximum towards the world economy and is attracting investments from across the world, which in turn creates an opportunity for the automated guided vehicle market. Over the next few years, automotive production is expected to dominate growth in the overall manufacturing sector, compared to the other industries, due to high demand. However, the aerospace industry is estimated to show a high growth rate during the forecast period.
"Tow vehicle is expected to dominate the automated guided vehicle market between 2016 & 2022"
Tow AGVs are the most productive type and are used for towing and tugging because their ability to move more loads with multiple trailers, compared to the single fork trucks. This type of AGV holds the largest market share among others, and the trend is expected to continue during the forecast period.
"Europe is expected to hold the largest market share during the forecast period"
Europe held the largest share of the overall automated guided vehicle market in 2015. Industries such as automotive and manufacturing are driving the growth of the said market in this region. Also, the market growth is majorly attributed to the growing need for intelligent, simple, and flexible material handling automation system across sectors. On the other hand, the market in APAC is expected to grow at the highest CAGR during the forecast period. Increasing production facilities and expansion of plants have enhanced the market for automated guided vehicles across countries in the APAC region.
In the process of determining and verifying the market size for several segments and subsegments of the automated guided vehicle market, extensive secondary research and primary interviews with key people have been conducted. Break-up of the profiles of primary participants is shown below:
- By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
- By Designation: C-Level – 75% and Manager Level – 25%
- By Region: North America – 10%, Europe – 20%, APAC – 40%, and RoW – 30%
The geographical segmentation in the report covers four major regions, namely, North America, Europe, Asia-Pacific, and RoW. The report also profiles major players in the automated guided vehicle market. Some of the major players in this market are Daifuku Co., Ltd. (Japan), JBT Corp. (U.S.), Bastian Solutions (U.S.), Swisslog Holding AG (Switzerland), Seegrid Corp. (U.S.), Egemin International NV (U.S.), and Dematic GmbH & Co. Ltd. (Germany).
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the automated guided vehicle market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on products offered by the top players of the global automated guided vehicle market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the automated guided vehicle market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for automated guided vehicle across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global automated guided vehicle market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global automated guided vehicle market
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