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Automated Guided Vehicle Market worth 2.68 Billion USD by 2022

The overall automated guided vehicle market is expected to reach USD 2.68 Billion by 2022, at a CAGR of 9.34% between 2017 and 2022. The growth of this market is propelled by the advancements in automation, emphasis on workplace safety and higher productivity, and increasing government initiatives in the process and manufacturing industries to track their material handling processes. The growth in flexible manufacturing systems and the increasing demand for customized and intelligent AGVs are creating opportunities for this market.

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Automated Guided Vehicle Market worth 2.68 Billion USD by 2022

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  1. MarketsandMarkets Presents Automated Guided Vehicle Market worth 2.68 Billion USD by 2022 The overall automated guided vehicle market is expected to reach USD 2.68 Billion by 2022, at a CAGR of 9.34% between 2017 and 2022. The growth of this market is propelled by the advancements in automation, emphasis on workplace safety and higher productivity, and increasing government initiatives in the process and manufacturing industries to track their material handling processes.

  2. According to a new market research report "Automated Guided Vehicle Market by Type (Unit Load Carrier, Tow Vehicle, Forklift Truck, Pallet Truck, Assembly Line Vehicle), Navigation Technology, Battery Type, Industry, Application, & Region - Global Forecast to 2022", published by MarketsandMarkets (www.marketsandmarkets.com), the total market is expected to reach USD 2.68 Billion by 2022, at a CAGR of 9.34% during the forecast period. Browse 76 market data tables and 70 figures spread through 183 pages and in-depth TOC on "Automated Guided Vehicle Market  - Global Forecast to 2022“ Download PDF Brochure : http://www.marketsandmarkets.com/pdfdownload.asp?id=27462395 Early buyers will receive 10% customization on reports. The automotive industry segment dominates the automated guided vehicle market The automotive industry is the largest contributor toward the world economy and is attracting investments from across the world, which in turn creates an opportunity for the automated guided vehicle market. Automotive suppliers have made rapid progress by innovating new products and enabling real-time information for efficient product delivery while maintaining high quality. The typical applications in the automotive industry include automated raw material delivery and automated work-in-progress movements between manufacturing cells and transport of finished goods.

  3.  Geographic Analysis

  4. Europe is expected to hold the largest share of the global automated guided vehicle market during the forecast period, with the market in APAC expected to grow at the highest CAGR. The growth of the APAC market can be attributed to the increasing manufacturing and production facilities as well as the expansion of plants in countries such as Japan, China, and Australia. The automated guided vehicle market in APAC is at the growth stage, and ongoing developments in this region make it a lucrative and high-potential market. Factors such as high capital investments, scarcity of floor space for small manufacturers, and the requirement for skilled workforce are the factors restraining the growth of the global AGV market. APAC expected to grow at the highest CAGR during the forecast period The market in APAC is expected to grow at the highest CAGR between 2017 and 2022. The growth in APAC is mainly attributed to the rapid adoption of automation to counter the rising labor costs and cater to the need for increasing the production processes without compromising on the quality standards. Additionally, the state-of-the-art infrastructure in China is attracting numerous new entrants into the AGV market in the country. The growth is further fueled by the growing demands for automation from different industries such as food & beverages, automotive, and e-commerce.

  5. Get report details@ http://www.marketsandmarkets.com/Market-Reports/automated-guided-vehicle-market-27462395.html Contact:Mr. RohanMarketsandMarkets701 Pike Street Suite 2175, Seattle, WA 98101, United States USA : 1-888-600-6441Email: sales@marketsandmarkets.com

  6. About MarketsandMarkets MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

  7. Contact Us Contact:Mr. RohanMarkets and Markets 701 Pike Street Suite 2175, Seattle, WA 98101, United States USA : 1-888-600-6441 UK : 44-800-368-9399 sales@marketsandmarkets.com

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