Global Automated Guided Vehicle Market By Component (Hardware, Software and Services) By type (Tow Vehicle, Pallet Truck, Unit Load Carrier, Hybrid Vehicles and Forklift Truck & Others) By Navigation Technology (Laser Guidance, Vision Guidance, Magnetic Guidance, Inductive Guidance and Natural Navigation & Others) By Application (Logistics & Warehousing, Assembly, Packaging, Trailer Loading & Unloading and Raw Material Handling & Others) By End User (Automotive, Manufacturing, Logistics, Food & Beverages, Retail, Healthcare and Others) By Region, Industry Analysis and Forecast, 2019 - 2025
Report Id: KBV-3748Publication Date: February-2020Number of Pages: 413
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The Global Automated Guided Vehicle Market size is expected to reach $5.4 billion by 2025, rising at a market growth of 13.6% CAGR during the forecast period. Automated guided vehicles (AGVs) are fully automated transport systems that run on unmanned vehicles. Automated guided vehicles deliver a range of benefits, such as a reduction in operating costs, increased safety of the workforce and a decrease in production time. The other factors leading to the adoption of AGV are the growing implementation of mobile robots worldwide and initiatives to improve safety and productivity at work.
Global Automated Guided Vehicle Market Size
Industrial structures are rapidly evolving, moving towards automated systems to enhance and optimize productivity levels, reorganize logistics, and improve transportation & logistics systems. Industry 4.0's emergence has contributed to the widespread sharing of data and automation in the manufacturing industry. With growing interest and a move toward automated systems and innovations, the automated market for guided vehicles has seen growth in recent years. Technological advances, especially in the navigation area, have played an important role in increasing the adoption of automated guided vehicle in the manufacturing sector.
Automated Guided Vehicle Market Share
Due to rapid technological advances in robotics and automation, the manufacturing sector has seen an increase in the incorporation of robotics engineering and technology into its production process. Manufacturers recognize factors like orientation, precision, load, speed, duty cycle, travel and climate before selecting a robot to achieve the most efficient and profitable results in their manufacturing plant. An integrated robot is one of the most widely discussed types of industrial robots, which resembles a human arm in its mechanical form. Articulated robots with six degrees of freedom are the most widely used industrial robots, as the architecture provides maximum flexibility and application in various applications like automotive assembly, food packaging, forging applications, etc.
Based on Component, the market is segmented into Hardware, Software and Services. Based on type, the market is segmented into Tow Vehicle, Pallet Truck, Unit Load Carrier, Hybrid Vehicles and Forklift Truck & Others. Based on Navigation Technology, the market is segmented into Laser Guidance, Vision Guidance, Magnetic Guidance, Inductive Guidance and Natural Navigation & Others. Based on Application, the market is segmented into Logistics & Warehousing, Assembly, Packaging, Trailer Loading & Unloading and Raw Material Handling & Others. Based on End User, the market is segmented into Automotive, Manufacturing, Logistics, Food & Beverages, Retail, Healthcare and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Acquisition and Partnerships. Based on the Analysis presented in the Cardinal matrix, Kion Group, Toyota Industries Corporation, ABB Group, John Bean Technologies Corporation, Daifuku Co., Limited, and The Krones Group are some of the forerunners in the Automated Guided Vehicle Market. Companies such as Hyster-Yale Materials Handling, Inc., Kuka AG, and Oceaneering International, Inc. are some of the key innovators in Automated Guided Vehicle Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Kion Group (Dematic), Toyota Industries Corporation (Bastian Solutions LLC), Daifuku Co., Limited, John Bean Technologies Corporation, Oceaneering International, Inc., Kuka AG (Swisslog Holding), Hyster-Yale Materials Handling, Inc., E&K Automation GmbH, and The Krones Group.
Recent Strategies Deployed in Automated Guided Vehicle Market
» Partnerships, Collaborations, and Agreements:
Apr-2019: John Bean collaborated with Hyster-Yale, a company engaged in designing, engineering, manufacturing, selling, and servicing a comprehensive line of lift trucks and aftermarket parts. Following this collaboration, JBT is launching a new dual-mode automated guided vehicle to the market powered by Hyster-Yale.
Apr-2019: Hyster-Yale collaborated with RICO Manufacturing, a company that manufactures lift trucks. Following this collaboration, the company launched a new offering which converts their 6,000 lbs. capacity Hyster or Yale electric counterbalance lift truck to a certified EX model with the help of the latter company.
Mar-2019: John Bean teamed up with Crown Equipment, a manufacturer of powered industrial forklift trucks. The collaboration was aimed at manufacturing the products, which would help the clients in maximizing the benefits of material handling automation.
Feb-2019: Hyster-Yale introduced a series of trucks by using robotics technology in collaboration with Balyo.
Mar-2018: Kuka announced partnership with Homag Group, a market leader in wood processing machines. The partnership was aimed at developing smart robot solutions and selling them to the global woodworking market.
Feb-2018: Daifuku came into partnership with Jervis B Webb, a company engaged in designing, engineering, installing, and supporting the integrated material handling systems. Under this partnership, the companies aim to deliver comprehensive solutions to vehicle manufacturers and their suppliers.
» Acquisition and Mergers:
Jan-2020: Toyota Forklift merged Toyota Industrial Equipment Manufacturing (TIEM) and Toyota Material Handling USA (TMHU), its two forklift divisions into a single unit named as Toyota Material Handling, Inc. (TMH). The merger enabled the company in simplifying, streamlining, and strengthening customer experiences.
Apr-2019: Toyota Industries North America completed the acquisition of Hoist Liftruck Mfg., LLC. The company was renamed as Hoist Material Handling, Inc. and operates under Toyota Material Handling USA. The acquisition strengthened the forklift product line of Toyota.
Apr-2019: Daifuku completed the acquisition of Vega Conveyors and Automation, a warehouse automation company. Through this acquisition, the former company aims to expand its foothold in India and other markets within Oceania and Asia by using the latter company's technology and expertise.
Jan-2019: John Bean acquired LEKTRO, a manufacturer and supplier of all-electric towbarless tow and pushback vehicles. Together, the companies would offer global sales and support presence to the customers, enhanced product portfolio, and increased engineering capabilities.
Jun-2018: Hyster-Yale acquired 75% stake in Zhejiang Maximal Forklift Co., Ltd. from KNSN Pipe & Pile Company Limited. The company was renamed as Hyster-Yale Maximal Forklift (Zhejiang) Co., Ltd. The acquisition enhanced the product portfolio of the former company.
Jul-2017: ABB completed the acquisition of B&R (Bernecker + Rainer Industrie-Elektronik GmbH), a provider of on product- and software-based, and open-architecture solutions for machine and factory automation. The acquisition expanded ABB's expertise and leadership in industrial automation.
Jun-2016: Kion took over Dematic, a best-in-class automation provider. Through this acquisition, Kion Group became one of the leading global providers of intelligent intralogistics solutions.
» Geographical Expansions:
Sep-2019: ABB announced that it is opening a new robotics manufacturing factory in China. The construction of this factory has been started and expected to open in early 20201. It would be the most advanced, flexible, and automated factory in the robotics industry.
Mar-2018: Kuka opened a new matrix production plant in Augsburg, Germany. This plant expanded the company's reach to Germany.
» Product Launches and Product Expansions:
Nov-2018: Oceaneering introduced REVO-GT, a transportation vehicle system. This system uses self-guided driverless group transit vehicles and has the capacity of up to 24 passengers. It enables the passengers to select from pre-programmed routes connecting different origins to one or more specific destinations.
May-2018: Toyota introduced a new Traigo80 heavy-duty electric forklift. This forklift delivers high-performance, manoeuvrability, and efficiency.
Mar-2018: Toyota released T-ONE, new intelligent in-house developed automated guided vehicle automation software. The software has been installed as an integration layer, which communicates with the Toyota Autopilot automated guided vehicles (AGVs) and existing infrastructure such as goods identification equipment, warehouse management systems, and other material handling equipment.
Scope of the Automated Guided Vehicle Market Analysis
Market Segmentation:
By Component
Hardware
Software
Services
By Type
Tow Vehicle
Pallet Truck
Unit Load Carrier
Hybrid Vehicles
Forklift Truck & Others
By Navigation Technology
Laser Guidance
Vision Guidance
Magnetic Guidance
Inductive Guidance
Natural Navigation & Others
By Application
Logistics & Warehousing
Assembly
Packaging
Trailer Loading and Unloading
Raw Material Handling & Others
By End User
Automotive
Manufacturing
Logistics
Food & Beverages
Retail
Healthcare
Others
By Geography
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Companies Profiled
ABB Group
Kion Group (Dematic)
Toyota Industries Corporation (Bastian Solutions LLC)
Daifuku Co., Limited
John Bean Technologies Corporation
Oceaneering International, Inc.
Kuka AG (Swisslog Holding)
Hyster-Yale Materials Handling, Inc.
E&K Automation GmbH
The Krones Group
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Frequently Asked Questions About This Report
According to a new report published by KBV Research, The global Automated Guided Vehicle market size is expected to reach $5.4 billion by 2025.
The expected CAGR of Automated Guided Vehicle market is 13.6% from 2019 to 2025.
Some of the key industry players are ABB Group, Kion Group (Dematic), Toyota Industries Corporation (Bastian Solutions LLC), Daifuku Co., Limited, John Bean Technologies Corporation, Oceaneering International, Inc., Kuka AG (Swisslog Holding), Hyster-Yale Materials Handling, Inc., E&K Automation GmbH, and The Krones Group.