Global Woodworking Machines Market 2018-2022
About this market
The growing e- commerce industry is one of the major drivers for the widespread adoption of AGvs globally. With an increasing number of users looking to buy products online, vendor need to increase their order processing capacity in warehouse and distribution centers. The increasing vendors’ capacity to deliver items in the shortest possible time, maintain accuracy in order processing to minimize product returns and offer services within low cost of driving the growth of AGV market. The demand for AGVs has increased because of the significant growth of the e-c commerce industry. According to our industry experts, the automated guided vehicle (AGV) market to grow at a CAGR of over 10% during the forecast period.
Need to improve warehouse operational efficiency
AGVs help in improving the efficiency of warehouses and fulfillment centers. These systems increase the accuracy of order picking, improve employee safety, and make efficient use of available space, thus helping end- users to reduce their operating cost. Therefore, AGVs have been widely adopted in warehouses across regions.
Volatility of raw material prices
The raw materials and components used for manufacturing and designing AGVs include structural steels, forging and processed steels bars, steel pipes, steel rods, electric motors, gear reducers, other mechanical components. Steel is one of the major raw materials used for manufacturing various AGVs. Steel is extracted from iron ore. Therefore, the volatility of iron ore prices directly impacts steel prices.
For the detailed list of factors that will drive and challenge the growth of the global automated guided vehicle (AGV) market during the 2019-2023, view our report.
The automated guided vehicle (AGV) market is moderately fragmented owing to the presence of many automated guided vehicle (AGV) market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Woodworking Machines Market 2018-2022
Technavio recognizes the following companies as the key players in the global woodworking machines market: Biesse Group, Dürr, IMA-Schelling-Group, Michael Weinig, and SCM Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the IoT in woodworking machines.”
According to the report, one of the major drivers for this market is the increasing adoption of automated woodworking machine.
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