Automated Guided Vehicles (AGV) Market Definition and Overview
Automated Guided Vehicles (AGV), also known as self-guided vehicles, are guided computerized vehicles that use computer software to determine their positioning, movement, and location. It acts as a load carrier that travels autonomously throughout a warehouse, distribution center, or manufacturing facility, without an onboard operator or driver. AGVs are either powered by a battery or electric motor to complete manufacturing, loading, and other warehousing activities to improve efficiency and boost outputs which pullout humans from hazardous conditions and reduce possible human errors.
Automatic Guided Vehicles acquire their instructions and programming which comprise wire embed in the floor, camera, lasers, radio waves or any other form of technology. AGVs can track lost or misplaced products and are flexible as their instructions can be changed according to the needs and demand.
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North America Automated Guided Vehicles (AGV) Market Outlook, Drivers and Challenges
Over the next five years, the Automated Guided Vehicles market in North America is expected to witness strong growth of at least 15% CAGR over the next five years. The escalating demand of automation in manufacturing and industries facilitates the pitch in Automated Guided Vehicles market. Utilization of AGVs in industries shrink the labor cost in operations by replacing human worker and that is going to be a growth driver for the market.
Automated Guided Vehicles face a major challenge of high initial investment. Also, they need routine maintenance and have occasional repairs of parts which are costly. AGVs need precise work environment to work expertly for example they require floor smoothness and proportion which is a challenge in the growth of the market.
North America Automated Guided Vehicles (AGV) Market Value Chain Analysis
The value chain of the Automated Guided Vehicles market consists of providers of core raw materials such as steel, cast iron, rubber, wires and aluminum. There are other companies such as machine builders and moving material builders which supply materials such as traction motors, batteries, on-board controller, etc. Subsequently, such materials are fabricated, assembled and designed by the Automated Guided Vehicles manufacturers and then distributed through various channels including direct and traditional channels like distributors and retailers. Afterwards, these distributors deliver the products to the customers/end-users.
North America Automated Guided Vehicles (AGV) Market Segmentation
The Automated Guided Vehicles (AGV) market can be split into the following categories based on the Product type such as Automated Forklift, Automated Tow/Tractor/Tugs, Forklifts/Unit Load, Assembly Line, Underride/Tunneling and Special Purposes. Based on Navigation Technology, the market is categorized as Laser Guided, Magnetic Guided, Vision Guided and Wired Guided. The Transportation & Distribution, Storage & Assembly and Packaging are categorized as the Application based segments in the market. From the demand side, the market can be segmented based on end-user industries such as Aerospace & Defense, Food & Beverages, Communications, Media & Entertainment, Manufacturing & Logistics, Healthcare and Retail. Geographically, the major country markets in North America are US, Canada and Mexico.
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North America Automated Guided Vehicles (AGV) Market Competitive Landscape of Major Competitors
Some key competitors in the North America Automated Guided Vehicles (AGV) market are Daifuku, KUKA, John Bean Technologies (JBT), Seegrid, Toyota MH, Crown Equipment, Mitsubishi-Caterpillar, Oceaneering Intl, KION.
Impact of Covid-19 on North America Automated Guided Vehicles (AGV) Market
Covid-19 pandemic has brought diverse opportunity in Automated Guided Vehicles market as it assisted industries and manufactures to continue with their productions. The pharmaceutical industry started the utilization of Automated Guided Vehicles to meet the excessive demand and sustain hygiene. For example, hospitals used AGVs to take caution from Covid-19 patients and keep hygiene by having contact less transportation of meals, waste bins, linen and sterile supplies.
Key Segments Covered in North America Automated Guided Vehicles (AGV) Market
North America Automated Guided Vehicles (AGV) Market By Product Type
Automated Forklift
Automated Tow/Tractor/Tugs
Forklifts/Unit Load
Assembly Line
Underride/Tunneling
Special Purposes
North America Automated Guided Vehicles (AGV) Market By Navigation Technology
Laser Guided
Magnetic Guided
Vision Guided
Wired Guided
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North America Automated Guided Vehicles (AGV) Market By Application
Transportation and Distribution
Storage and Assembly
Packaging
North America Automated Guided Vehicles (AGV) Market By Type of End User Industry
Aerospace and Defense
Food and Beverages
Communications
Media and Entertainment
Manufacturing and Logistics
Healthcare
Retail
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North America Automated Guided Vehicles (AGV) Market By Geography and Major Countries
US
Canada
Mexico
Key Competitors in North America Automated Guided Vehicles (AGV) M Market
Daifuku
KUKA
John Bean Technologies (JBT)
Seegrid
Toyota MH
Crown Equipment
Mitsubishi-Caterpillar
Oceaneering Intl
KION
Time Period Captured in the Report:-
Historical Period: 2017-2021
Forecast Period: 2022-2027F
Key Target Audience:-
Automated Guided Vehicles (AGV) Manufacturers
Automated Guided Vehicles (AGV) Product Assemblers
Automated Guided Vehicles (AGV) Component suppliers
Raw Material Suppliers for Automated Guided Vehicles (AGV)
Components Suppliers for Automated Guided Vehicles (AGV)
Potential Investors in Automated Guided Vehicles (AGV)
Value Added Resellers
Collaborative Guided Vehicles Manufacturers
Industrial OEMs of Automated Guided Vehicles (AGV)
Industrial Automation Solutions Providers
Automated Guided Vehicles (AGV) Companies
Guided Vehicles Industry Associations
Automated Guided Vehicles (AGV) Research Groups
Automobile Manufacturing Industry Associations
Automobile Regulatory Organizations
Environment Control and Emission Regulatory Organizations
Transportation Ministries
Electric Vehicle Industry Forums
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