The demand for AGVs varies according to various regions, depending on the end-use application segment demand. The AGV market holds a significant share in different areas of North America, China, Asia-Pacific and Japan, Europe, and the U.K. owing to the large manufacturing facilities established by the AGV manufacturers across the regions. In China, the deployment of AGVs has been ramping up continuously. The country has a huge manufacturing base, and many OEMs are developing and manufacturing advanced automated guided vehicles for end-use industries. China is leading in various end-use industries such as automotive, textiles, plastics, and logistics and warehouse.
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The global AGV market’s competitive landscape consists of different strategies undertaken by key players worldwide to gain traction and market share presence. Some strategies adopted by AGV manufacturers are new product launches, mergers, partnerships, and collaborations. Among all these strategies adopted, mergers, partnerships, and collaborations have been the popular choice of the strategy implemented in the global AGV market competitive landscape. Some of the most significant ecosystem players are Mitsubishi Logisnext Co., Ltd, KION Group, and JBT Corporation.
Product launches are another preferred strategy adopted by the market players to enhance their product offerings and global footprint. For instance, in September 2020, KION Group expanded its production facilities in the Czech Republic. The facility will be responsible for manufacturing material handling equipment for Dematic.
The impact of COVID-19 on the automated guided vehicle industry has not been as severe as compared to the impact on other industries. On the contrary, the demand for AGVs has considerably grown in the last quarter of 2020 due to reduced dependency on the labor force and supply chain security. The companies might be having some financial issues during the pandemic period but are willing to procure AGVs in 2021 for their facilities’ smooth functioning. Thus, the industry is expected to grow even during the COVID-19 pandemic. However, the growth rate might take a hit during 2020 and pick up in 2021.
Due to rapid industrial developments in robotics and automation, the manufacturing sector has seen the increased adoption of robotics engineering and technology into its production process for quite some time. One such growing sector is that of autonomous guided vehicles (AGVs), which are entirely automated transport systems that function with unmanned vehicles. Automated guided vehicles deliver a wide range of benefits, such as reducing running costs, improved workforce protection, and decrease in production time. The AGV-enabled automation of industrial facilities also helps meet requirements related to material handling capability, reduce the risk of human error, ensure high output volumes, and improve accuracy and repeatability.
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The market research study caters to a comprehensive perspective of the different types of vehicles and applications of the automated guided vehicles (AGV) market. The report further analyzes its impact on other end-user industries by providing critical insights into the direction of its future expansion. The study dwells into various navigation types, such as magnetic guidance, laser guidance, vision guidance, natural navigation, inductive guidance, and another navigation type for AGVs of different end-user industries. The study is further segmented on the basis of application (by end-use industry), and divided into logistics and warehouse, automotive, food and beverage, and pharmaceuticals, among others.
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