Meidensha

Jun 5, 2023

USA - English Share this article Share this article NEW YORK, June 5, 2023 /PRNewswire/ -- The automated guided vehicle (AGV) market size is expected to grow by USD 1,395.15 million during 2022-2027, progressing at a CAGR of 8.97% as per the latest Technavio market research report. Europe is going to have lucrative growth during the forecast period. About 36% of the market's overall growth is expected to originate from Europe. Europe is seeing strong demand for large warehouse spaces. There is also a growing demand for warehouses near metropolitan areas to support last-mile delivery models. In Europe, increasing online sales are increasing the demand for warehouse space in the region, increasing the demand for warehouse space among e-commerce merchants. This has increased demand for the company's AGVs in Europe. Increased acceptance of AGVs and continued growth in the corporate sector are also stimulating demand for AGVs in the region. Furthermore, the European energy industry is undergoing major changes due to investments in smart grids and renewable energy. Several European countries are planning to increase the share of renewable energy in their energy mix to reduce CO2 emissions from fossil fuels. Such factors drive the growth of the market during the forecast period. For more insights on the market share of various regions-  Download sample report in MINUTES What's New? - Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession Global competitiveness and key competitor positions Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial -  Buy the report! Read the 186-page report with TOC on "Automated Guided Vehicle (AGV) Market Analysis Report by Product (Unit load carrier, Tow vehicle, Pallet truck, Assembly line vehicle, and Others), End-user (Automotive, Food and beverages, Electronics and electrical, Pharmaceuticals, and Others), and Geography (Europe, APAC, North America, South America, and Middle East and Africa), and the Segment Forecasts,2023-2027". Gain competitive intelligence about market leaders. Track key industry opportunities, trends and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/automated-guided-vehicle-market-industry-analysis Automated Guided Vehicle (AGV) Market-Market Dynamics Driver Rapid growth in e-commerce retail to drive growth. The rapid growth of e-commerce retail is driving the growth of the AGV market. Consumer preferences are rapidly shifting from traditional retail to e-commerce due to various factors such as diversified product portfolio, competitive prices, and shopping convenience. E-commerce is experiencing significant growth not only in developed markets such as the United States, but also in emerging markets such as India and China, with several major companies such as Amazon and Walmart having a presence in emerging markets in the Asia-Pacific region. Additionally, as e-commerce retail becomes more popular, the need for warehouses and distribution centers is increasing, especially in emerging markets. Therefore, e-commerce retail growth is expected to continue to drive the growth of the global AGV market during the forecast period. Trend Rising warehouse automation is the key trend driving the AGV market. End-users require products in a variety of package sizes. Different packaging systems increase the quantity of goods in a consumer goods warehouse. The proliferation of SKUs is driving warehouse automation around the world. To maintain many of these SKUs, the consumer goods manufacturer will face productivity and cost-efficiency issues. This has led manufacturers and wholesalers to choose automated warehouses. In addition, warehouse automation improves the speed and accuracy of fulfilling orders before product expiration dates (for perishables such as groceries). In addition, warehouse automation allows the supply chain to remain efficient even with seasonal product demand. Warehouse automation also reduces the time it takes to replenish shelves. Challenge Fluctuating prices of raw materials are the key challenge in this market. Raw materials and parts used in the manufacture and construction of AGVs include mild steel, forged and machined steel bars, steel tubes, steel bars, electric motors, reducers, bearings and other electromechanical parts. Steel is one of the most important raw materials for manufacturing various AGVs. Since steel is made from iron ore, fluctuations in iron ore prices have a direct impact on steel prices. For example, iron ore prices increased by about 90% in July 2019 compared to January 2019. As commodity prices reach a threshold, commodity suppliers are forced to pass on higher prices to downstream industries. Such decisions by raw material suppliers affect the growth of various industries as well as manufacturers of handling and lifting equipment. This may pose challenges to the growth of the global AGV market during the forecast period. To know about more drivers, trends along with challenges -  Download a sample now! Some of the key Automated Guided Vehicle (AGV) market players: The automated guided vehicle (AGV) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Aichikikai Techno System Co. Ltd., Atab Automationsteknik AB, Balyo SA, Beumer Group GmbH and Co. KG, Daifuku Co. Ltd, Dearborn Mid West Co, ek robotics GmbH, Fritz SCHAFER GmbH and Co KG, Groupe Gorge, Hitachi Ltd., Hyster Yale Materials Handling Inc., John Bean Technologies Corp., KION GROUP AG, Meidensha Corp., MIDEA Group, Murata Machinery Ltd, Oceaneering International Inc., Scott Technology Ltd., Seegrid Corp., and Toyota Industries Corp. Vendor Offerings: Aichikikai Techno System Co. Ltd. - The company offers automated guided vehicle through its subsidiary Aichi Machine Industry Co. Ltd. Atab Automationsteknik AB - The company offers automated guided vehicle solutions such as FX forklift, CX load carrier. Daifuku Co. Ltd. - The company offers automated guided vehicle for flexible movement of materials without human intervention for a variety of industries and for various production phases. Gain instant access to our 17,000+ market research reports Automated Guided Vehicle (AGV) Market: Segmentation Analysis This market research report segments the  automated guided vehicle (AGV) market  by Product (Unit load carrier, Tow vehicle, Pallet truck, Assembly line vehicle, and Others), End-user (Automotive, Food and beverages, Electronics and electrical, Pharmaceuticals, and Others), and Geography (Europe, APAC, North America, South America, and Middle East and Africa). The unit load carrier segment will account for a large share of the market growth during the forecast period. Unit load carriers are designed for transporting large amounts of material in industrial environments and are used for horizontal transport in manufacturing and assembly plants. They are integrated into conveyor systems or storage and retrieval systems. Based on end user, the market is segmented into Automotive, Food & Beverage, Electronics & Electrical, Pharmaceuticals, and Others. The automotive sector will account for the largest share during the forecast period. The automotive industry was an early adopter of AGVs as they can improve the efficiency of manufacturing and logistics processes, reduce costs, and improve safety. AGVs are used in various automotive applications such as material handling, assembly lines, maintenance, warehousing, and logistics. Overall, the automotive industry is one of the largest end-users of AGVs and is expected to further drive the growth of the AGV market during the forecast period. Related Reports: The  Automated Parking System (APS) Market  size is estimated to grow at a CAGR of 16.15% between 2022 and 2027 and the size of the market is forecast to increase by USD 2,330.95 million. This automated parking system (APS) market report extensively covers market segmentation by end-user (commercial, residential, and mixed-use), component (hardware and software), and geography (North America, Europe, APAC, Middle East and Africa, and South America). Increasing urbanization is the key factor driving the global automated parking system (APS) market growth. The Automated Test Equipment (ATE) market is estimated to grow at a CAGR of 5% between 2022 and 2027. The size of the market is forecast to increase by USD 2,049.89 million. This report extensively covers market segmentation by end-user (consumer electronics, telecommunications, aerospace and defense, and others), product (non-memory ATE, memory, and discrete), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The augmented production of electronic goods is notably driving the market growth, although factors such as the necessity for price-sensitive and multiple technology solutions may impede the market growth. Automated Guided Vehicle (AGV) Market Scope Report Coverage Key companies profiled Aichikikai Techno System Co. Ltd., Atab Automationsteknik AB, Balyo SA, Beumer Group GmbH and Co. KG, Daifuku Co. Ltd., Dearborn Mid West Co., ek robotics GmbH, Fritz SCHAFER GmbH and Co KG, Groupe Gorge, Hitachi Ltd., Hyster Yale Materials Handling Inc., John Bean Technologies Corp., KION GROUP AG, Meidensha Corp., MIDEA Group, Murata Machinery Ltd., Oceaneering International Inc., Scott Technology Ltd., Seegrid Corp., and Toyota Industries Corp. Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Table of Contents Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million) Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million) Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%) Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%) 4 Historic Market Size 4.1 Global automated guided vehicle (AGV) market 2017 - 2021 Exhibit 18: Historic Market Size – Data Table on global automated guided vehicle (agv) market 2017 - 2021 ($ million) 4.2 Product Segment Analysis 2017 - 2021 Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million) 4.3 End-user Segment Analysis 2017 - 2021 Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million) 4.4 Geography Segment Analysis 2017 - 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million) 4.5 Country Segment Analysis 2017 - 2021 Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million) 5 Five Forces Analysis Exhibit 33: Data Table on Comparison by Product 6.3 Unit load carrier - Market size and forecast 2022-2027 Exhibit 34: Chart on Unit load carrier - Market size and forecast 2022-2027 ($ million) Exhibit 35: Data Table on Unit load carrier - Market size and forecast 2022-2027 ($ million) Exhibit 36: Chart on Unit load carrier - Year-over-year growth 2022-2027 (%) Exhibit 37: Data Table on Unit load carrier - Year-over-year growth 2022-2027 (%) 6.4 Tow vehicle - Market size and forecast 2022-2027 Exhibit 38: Chart on Tow vehicle - Market size and forecast 2022-2027 ($ million) Exhibit 39: Data Table on Tow vehicle - Market size and forecast 2022-2027 ($ million) Exhibit 40: Chart on Tow vehicle - Year-over-year growth 2022-2027 (%) Exhibit 41: Data Table on Tow vehicle - Year-over-year growth 2022-2027 (%) 6.5 Pallet truck - Market size and forecast 2022-2027 Exhibit 42: Chart on Pallet truck - Market size and forecast 2022-2027 ($ million) Exhibit 43: Data Table on Pallet truck - Market size and forecast 2022-2027 ($ million) Exhibit 44: Chart on Pallet truck - Year-over-year growth 2022-2027 (%) Exhibit 45: Data Table on Pallet truck - Year-over-year growth 2022-2027 (%) 6.6 Assembly line vehicle - Market size and forecast 2022-2027 Exhibit 46: Chart on Assembly line vehicle - Market size and forecast 2022-2027 ($ million) Exhibit 47: Data Table on Assembly line vehicle - Market size and forecast 2022-2027 ($ million) Exhibit 48: Chart on Assembly line vehicle - Year-over-year growth 2022-2027 (%) Exhibit 49: Data Table on Assembly line vehicle - Year-over-year growth 2022-2027 (%) 6.7 Others - Market size and forecast 2022-2027 Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million) Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million) Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%) Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%) 6.8 Market opportunity by Product Exhibit 54: Market opportunity by Product ($ million) Exhibit 55: Data Table on Market opportunity by Product ($ million) 7 Market Segmentation by End-user 7.1 Market segments Exhibit 59: Data Table on Comparison by End-user 7.3 Automotive - Market size and forecast 2022-2027 Exhibit 60: Chart on Automotive - Market size and forecast 2022-2027 ($ million) Exhibit 61: Data Table on Automotive - Market size and forecast 2022-2027 ($ million) Exhibit 62: Chart on Automotive - Year-over-year growth 2022-2027 (%) Exhibit 63: Data Table on Automotive - Year-over-year growth 2022-2027 (%) 7.4 Food and beverages - Market size and forecast 2022-2027 Exhibit 64: Chart on Food and beverages - Market size and forecast 2022-2027 ($ million) Exhibit 65: Data Table on Food and beverages - Market size and forecast 2022-2027 ($ million) Exhibit 66: Chart on Food and beverages - Year-over-year growth 2022-2027 (%) Exhibit 67: Data Table on Food and beverages - Year-over-year growth 2022-2027 (%) 7.5 Electronics and electrical - Market size and forecast 2022-2027 Exhibit 68: Chart on Electronics and electrical - Market size and forecast 2022-2027 ($ million) Exhibit 69: Data Table on Electronics and electrical - Market size and forecast 2022-2027 ($ million) Exhibit 70: Chart on Electronics and electrical - Year-over-year growth 2022-2027 (%) Exhibit 71: Data Table on Electronics and electrical - Year-over-year growth 2022-2027 (%) 7.6 Pharmaceuticals - Market size and forecast 2022-2027 Exhibit 72: Chart on Pharmaceuticals - Market size and forecast 2022-2027 ($ million) Exhibit 73: Data Table on Pharmaceuticals - Market size and forecast 2022-2027 ($ million) Exhibit 74: Chart on Pharmaceuticals - Year-over-year growth 2022-2027 (%) Exhibit 75: Data Table on Pharmaceuticals - Year-over-year growth 2022-2027 (%) 7.7 Others - Market size and forecast 2022-2027 Exhibit 76: Chart on Others - Market size and forecast 2022-2027 ($ million) Exhibit 77: Data Table on Others - Market size and forecast 2022-2027 ($ million) Exhibit 78: Chart on Others - Year-over-year growth 2022-2027 (%) Exhibit 79: Data Table on Others - Year-over-year growth 2022-2027 (%) 7.8 Market opportunity by End-user Exhibit 80: Market opportunity by End-user ($ million) Exhibit 81: Data Table on Market opportunity by End-user ($ million) 8 Customer Landscape Exhibit 86: Data Table on Geographic comparison 9.3 Europe - Market size and forecast 2022-2027 Exhibit 87: Chart on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 88: Data Table on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 89: Chart on Europe - Year-over-year growth 2022-2027 (%) Exhibit 90: Data Table on Europe - Year-over-year growth 2022-2027 (%) 9.4 APAC - Market size and forecast 2022-2027 Exhibit 91: Chart on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 92: Data Table on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 93: Chart on APAC - Year-over-year growth 2022-2027 (%) Exhibit 94: Data Table on APAC - Year-over-year growth 2022-2027 (%) 9.5 North America - Market size and forecast 2022-2027 Exhibit 95: Chart on North America - Market size and forecast 2022-2027 ($ million) Exhibit 96: Data Table on North America - Market size and forecast 2022-2027 ($ million) Exhibit 97: Chart on North America - Year-over-year growth 2022-2027 (%) Exhibit 98: Data Table on North America - Year-over-year growth 2022-2027 (%) 9.6 South America - Market size and forecast 2022-2027 Exhibit 99: Chart on South America - Market size and forecast 2022-2027 ($ million) Exhibit 100: Data Table on South America - Market size and forecast 2022-2027 ($ million) Exhibit 101: Chart on South America - Year-over-year growth 2022-2027 (%) Exhibit 102: Data Table on South America - Year-over-year growth 2022-2027 (%) 9.7 Middle East and Africa - Market size and forecast 2022-2027 Exhibit 103: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 104: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 105: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%) Exhibit 106: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%) 9.8 US - Market size and forecast 2022-2027 Exhibit 107: Chart on US - Market size and forecast 2022-2027 ($ million) Exhibit 108: Data Table on US - Market size and forecast 2022-2027 ($ million) Exhibit 109: Chart on US - Year-over-year growth 2022-2027 (%) Exhibit 110: Data Table on US - Year-over-year growth 2022-2027 (%) 9.9 Germany - Market size and forecast 2022-2027 Exhibit 111: Chart on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 112: Data Table on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 113: Chart on Germany - Year-over-year growth 2022-2027 (%) Exhibit 114: Data Table on Germany - Year-over-year growth 2022-2027 (%) 9.10 Japan - Market size and forecast 2022-2027 Exhibit 115: Chart on Japan - Market size and forecast 2022-2027 ($ million) Exhibit 116: Data Table on Japan - Market size and forecast 2022-2027 ($ million) Exhibit 117: Chart on Japan - Year-over-year growth 2022-2027 (%) Exhibit 118: Data Table on Japan - Year-over-year growth 2022-2027 (%) 9.11 China - Market size and forecast 2022-2027 Exhibit 119: Chart on China - Market size and forecast 2022-2027 ($ million) Exhibit 120: Data Table on China - Market size and forecast 2022-2027 ($ million) Exhibit 121: Chart on China - Year-over-year growth 2022-2027 (%) Exhibit 122: Data Table on China - Year-over-year growth 2022-2027 (%) 9.12 UK - Market size and forecast 2022-2027 Exhibit 123: Chart on UK - Market size and forecast 2022-2027 ($ million) Exhibit 124: Data Table on UK - Market size and forecast 2022-2027 ($ million) Exhibit 125: Chart on UK - Year-over-year growth 2022-2027 (%) Exhibit 126: Data Table on UK - Year-over-year growth 2022-2027 (%) 9.13 Market opportunity by geography Exhibit 127: Market opportunity by geography ($ million) Exhibit 128: Data Tables on Market opportunity by geography ($ million) 10 Drivers, Challenges, and Trends 10.1 Market drivers About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts