What Is the Size of North America Automated Guided Vehicles Industry?
North America Automated Guided Vehicles market is growing at a CAGR of ~% in 2017-2021P and is expected to reach ~USD Mn by 2027F. The growth of Automated Guided Vehicles market in North America is driven by the rise in demand for automation in material handling across a range of industries owing to the benefits they offer in terms of improved efficiency and security and reduced cost.
Furthermore, the rising prevalence of Automated Guided Vehicles over the next few years is expected to propel the growth of market due to the stable long-term usage among end-user industries to achieve improvements in bottom-line by reducing labor cost. With rise in demand for e-commerce, supply chains are implementing AGVs in distribution centers enabling industries to operate at a higher output.
The utilization of AGVs in the pharmaceutical industry increased to meet the excessive demand and sustain hygiene. Hospitals used AGVs during Covid-19 to safely conduct contact less transportation of meals, waste bins, linen and sterile supplies. The programmability of AGVs helps reduce waste and saves time while performing tasks accurately and helping improve productivity. AGVs do not require experience or breaks which initially save the anticipated labor cost along with reducing utility cost.
North America Automated Guided Vehicles Market by Product Type
The Automated Forklift segment in North America Automated Guided Vehicles market is growing at a CAGR of ~% in 2017-2021 and is expected to reach ~USD Mn by 2027F. It is used extensively in the material handling industry for their quality of accurately transport raw material or finished component in a much shorter span.
The Underride/ Tunnelling AGVs, although constitute a small part of the market, will grow at the fastest rate during the forecasted period. Their growth will be driven by the increasing need and implementation of underground travel across major cities in North America.
North America Automated Guided Vehicles Market by Navigation Technology Type
The North America Vision Guided Automated Vehicles segment is growing at a fastest CAGR of ~% in 2017-2021 and is expected to reach ~USD Mn by 2027F. This is mainly due to the facilities this segment has to offer in terms movement convenience of the vehicles. Since it is run by vision guidance, there is no need to install wires or magnetic tapes on floor.
While laser guided and vision guided are growing in their share of the overall market, the prevalence of wired guided and magnetic guided AGVs is quite high. These two segments together contribute to the largest of the market when it comes navigation technology segments.
North America Automated Guided Vehicles Market
North America Automated Guided Vehicles Market by Application Type
The Packaging segment in the North America Automated Guided Vehicles market is growing at the highest CAGR of ~% in 2017-2021 and is expected to reach ~USD Mn by 2027F. This growth is mainly due to the increasing importance of safety, environmental friendliness, precision in packaging, without having to increase the time and cost.
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Owing to the precision benefits, the use of AGVs is also growing in the Transportation and Distribution application segment. AGVs do not require experience or breaks which initially save the anticipated labor cost along with reducing utility cost. These vehicles can operate in every condition that human cannot effectively work on due to the lack of accessibility or lack of safety and presence of health hazards.
North America Automated Guided Vehicles by Type of End User Industry
The North America Industrial Goods Manufacturing Industry is expected to grow at positive CAGR of ~% in 2017-2021 and is expected to reach ~USD Mn by 2027F. Many companies are looking for options to improve the efficiency of their processes, transporting more material in the same time, without running into higher recurring cost involved with human transport.
While industries like Automotive, Logistics, etc. were already leveraging Automated Guided Vehicles, many new industries like the Healthcare or Retail are finding the use of AGVs to be more and more cost-efficient.
Competition Scenario in North America Automated Guided Vehicles Market
There is moderate to high levels of competition within the industry. There are multiple big companies in the North American Automated Guided Vehicles market that offer a diverse range of products, however they often face stiff competition from players who offer a limited range of specialized products. Companies are competing on various parameters such as Partnerships, New Products and offering comprehensive AGV product solutions to all major end user industries.
Key Competitor Profiles
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Major Countries Analysis
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What Is the Expected Future Outlook for The Overall Automated Guided Vehicles Market In North America?
The revenues generated by the Automated Guided Vehicles market players in North America are projected to augment to ~ by 2027 from ~ during 2022, registering a robust CAGR of ~ during the same period.
Rise in demand for automation in material handling industries, owing to improvements observed in productivity and accuracy and reduction in utility cost, is fueling growth in the market. Moreover, Automated Guided Vehicles (AGV), leveraging sensors, visual indicators, emergency stop buttons, and navigation technology features, ensure that the working environment is safe.
With rise in demand for e-commerce, supply chains are implementing AGVs in distribution centers enabling industries to operate at high output.
The utilization of AGVs in the pharmaceutical industry increased to meet the excessive demand and sustain hygiene. Hospitals used AGVs during Covid-19 to safely conduct contact less transportation of meals, waste bins, linen and sterile supplies. The programmability of AGVs is expected to help reduce waste and saves time while performing tasks accurately and helping improve productivity.
AGVs do not require experience or breaks which initially save the anticipated labor cost along with reducing utility cost. These vehicles can operate in every condition that human cannot effectively work on due to the lack of accessibility or lack of safety and presence of health hazards. Owing to these factors, the market is looking at a phase of substantial growth in the years to come.
For More Information on The Research Report, refer to below link: –
North America Automated Guided Vehicles Market
Key Segments Covered in North America Automated Guided Vehicles Market: –
North America Automated Guided Vehicles Market By Product Type
Automated Forklift
Automated Tow/Tractor/Tugs
Unit Load Carriers
Assembly Line
Underride/Tunneling
Special Purposes
North America Automated Guided Vehicles Market By Navigation Technology Type
Laser Guided
Magnetic Guided
Vision Guided
Wired Guided
North America Automated Guided Vehicles Market By Application Type
Transportation and Distribution
Storage, Warehousing and Assembly
Packaging
North America Automated Guided Vehicles Market By Type of End User Industry
| Aerospace and Defense |
Automotive
Food and Beverage
Industrial Goods Manufacturing
Consumer Goods
Healthcare
Logistics
Retail
Others
North America Automated Guided Vehicles Market By Geography and Major Countries
USA
Canada
Mexico
Key Target Audience
Automated Guided Vehicles Manufacturers
Forklift Manufacturers
Robotic Systems Manufacturers
Aerospace and Defense Companies
Automotive Components Manufacturers
Food and Beverage Companies
Industrial Goods Manufacturers
Consumer Good Manufacturers
Owners of Warehouses, Storage Units
Retail Service/Product Providers
Healthcare Service Providers
Potential Investors in Automated Guided Vehicles Industry
Allied/Auxiliary Industries in Automated Guided Vehicles Market
Automated Guided Vehicles Wholesalers and Distributors
Time Period Captured in the Report:
Historical Period: 2017-2021
Forecast Period: 2022-2027F
Companies Mentioned:
Key Competitors in North America Automated Guided Vehicles Market
Daifuku
John Bean Technologies (JBT)
Oceaneering Intl
Toyota Industries corporation
KUKA
Hyster-Yale
Seegrid
Crown Equipment
KION
Mitsubishi Logisnext
Scott
Jungheinrich
Emerging Automated Guided Vehicles Companies in North America
Slip Robotics
Waku Robotics
Waypoint Robotics
Vention
OTTO Motors
Intronic
Automation Topstar de México
Onemind
Key Topics Covered in the Report: –
Snapshot of North America Automated Guided Vehicles Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of North America Automated Guided Vehicles Market
Historic Growth of Overall North America Automated Guided Vehicles Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of North America Automated Guided Vehicles Industry
Overview, Product Offerings, and SWOT Analysis of All the Key Competitors
Covid 19 Impact on the Overall North America Automated Guided Vehicles Market
Future Market Forecast and Growth Rates of the Total North America Automated Guided Vehicles Market and by Segments
Market Size of End User Industries with Historical CAGR and Future Forecasts
Analysis of North America Automated Guided Vehicles Market in Major North American Countries
Major Production / Consumption Hubs in the Major Countries
Major Production/Supply and Consumption/Demand Hubs in Each Major Country
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging North America Automated Guided Vehicles Companies within Each Major Country
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