Global Automated Guided Vehicle (AGV) Market 2017-2021
Automated guided vehicles (AGVs) are used on shop floors for moving heavy materials within the manufacturing unit. These vehicles are controlled by computers and do not require onboard drivers. AGVs have defined paths or areas within which they navigate. Navigation can be established by several means such as inductive wires, surface-mounted magnetic or optical strips, or by inertial or laser navigation guidance.
Technavio’s analysts forecast the global AGV market to grow at a CAGR of 8.15% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global AGV market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of AGV.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global AGV Market 2017-2021
Technavio recognizes the following companies as the key players in the global AGV market: SSI Schaefer, Dematic, and Daifuku
Other Prominent Vendors in the market are: BEUMER, Dearborn Mid-West Company, Fives, FlexLink, Intelligrated, Kardex, KNAPP Logistics Automation, Legris Industries, Mecalux, Murata Machinery, Swisslog, and TGW Logistics
Commenting on the report, an analyst from Technavio’s team said: “The growing trend of using robotic systems by various industries, such as the automation and e-commerce, and increased interest among various countries, such as China, UAE, and Switzerland, are driving the demand for AGV robotic systems. Robotic systems are among the highest growing products in the global AGV market, expected to post a CAGR of above 8% during the forecast period. Traditional industries such as automotive are investing in robotics. In 2015, Toyota announced an investment of $50 million till 2019 to focus on enhancing robotics, autonomous vehicles, and artificial intelligence (AI). Further, companies from various industries, other than traditional industries, are also buying or investing in robotic systems. Google and Amazon are few examples of companies that focus on optimizing their business using robotic systems. Amazon acquired Kiva Systems in 2012, and as of 2016, had more than 30,000 robots working in their warehouse to make delivery processes faster. Amazon has also set a trend of using robotic systems for better operational efficiency and cost saving. Amazon claimed to have achieved 20% cost saving using robotics in its warehouse. Other vendors with high warehouse requirements such as Walmart and Target are likely to follow the trend in the forecast period.”
According to the report, various end-user segments are adopting automated systems throughout their supply chain. This is driving the market for AGVs, as the entire lifecycle of products, from manufacturing to distribution, consumption, and disposal is being automated. Some of the most advanced automation systems include baggage transport systems in airports, automated storage systems in warehouses, and automated dispatching systems. Baggage transport systems make use of technologically advanced identification systems to collect baggage and transport to the loading points of an aircraft. Automated storage systems optimize storage capacity and an efficient use of the vertical space. These advantages are driving more end-users toward adopting automated systems across all their workflow.
Further, the report states that raw materials and components used in design and manufacture of AGVs include steel, structural steel, processed steel bars, forging steel bars, steel rods, steel wires, steel pipes, electric motors, bearings, gear reducers, castings, and other electro-mechanical components. AGV is a heavy equipment with a large structure. Fluctuation in prices of raw materials has made planning difficult for AGV manufacturers. Prices of metals used in equipment manufacturing are vulnerable to sudden changes. Steel prices have fluctuated more than 40% in just a few months. Prices of other key raw materials such as copper and titanium are also prone to volatility. These uncertainties in raw material prices have an adverse effect on AGV manufacturers, affecting their profitability.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-warehouse-and-storage-global-automated-guided-vehicle-agv-market-2017-2021
SSI Schaefer, Dematic, Daifuku, BEUMER, Dearborn Mid-West Company, Fives, FlexLink, Intelligrated, Kardex, KNAPP Logistics Automation, Legris Industries, Mecalux, Murata Machinery, Swisslog, and TGW Logistics