The exponential growth of the online retail and automotive industries is driving the need for automotive guided vehicles in the global market. The growing adoption of industrial robots that help reduce product damage and delays caused by accidents due to human error will revolutionize the global AGV market. The ease of implementation, flexible route mapping, high accuracy, and scalability are some of the factors attributing to the higher adoption of these machines in the global market. The rapid changes in industrial demographics and increasing demand for productivity, safety,and quality is expected to boost the demand in the automated guided vehicle market over the next few years. The focus on industrial automation and development in the material handling process will boost revenues in the market. Furthermore, the implementation of stringent safety standards across the industries will drive growth in the global AGV market.

The automated guided vehicle market is expected to reach values of approximately $5 billion by 2023, growing at a CAGR of around 18% during 2017-2023.

The research report offers market size analysis in terms of unit shipment values during the forecast period.

The different types of vehicles available in the global automated guided vehicle market are discussed in detail below:

·         Tow vehicles

Tow vehicles are one of the very first designs that were available in the global automated guided vehicle market and can operate in a wide variety of environments and are capable of handling loads ranging from 2,000 pounds to 160,000 pounds.These vehicles are used for bulk movement of products into and out of warehouse areas or manufacturing or assembly operations in the AGV market. Tow guided vehicles are used in industries such as automotive, aerospace, retail, and food and beverages which involves the movement of products over long distances sometimes between buildings, outdoors or in large distributed systems where the runs are long. The ability to move as much as 16 pallet loads at a given time is the main reason for the elimination of fork trucks,or manual trains is propelling the demand for these vehicles in the global AGV market. The tow vehicle in the automotive guided vehicle market is estimated to grow at a CAGR of more than 18% during the forecast period.

·         Unit Load Vehicles

Unit load vehicles are fortified with decks, which offers the flexibility of unit load transportation and often automatic load transfer in the automotive guided vehicle market. These vehicles are used in environments which involve execution of specific tasks just like mission assignments in the AGV market. These vehicles are usually used along with conveyors with manufacturing/assembly operations or storage retrieval systems.A unit load carrier can move high volumes of material over moderate distances linking other automated subsystems in an integrated facility. Unit load systems work on remote management systems which involves an automatic pickup and delivery of products in the AGV market.These vehicles are usually used in distribution centers where the volume of the load is higher, and the guide path lengths are relatively short. The unit load vehicle in the automated guided vehicle market is projected to grow at a CAGR of more than 17% during 2017-2023.

·         Pallet Trucks

Pallet trucks are designed to move palletized loads to and from floor level, thereby eliminating the need for fixed load stands in the automated guided vehicle market. These vehicles are usually used in distribution centers in the AGV market. These vehicles can be loaded in two ways, either operator manually boards the vehicles and back them into pallets or vehicles automatically picks up pallets from the floor.  These trucks also allow manual operation, in many cases, these vehicles are manually boarded in the loading areas and driven off the path to load staging areas where they are manually loaded. Automatic reversal and positioning of the systems added extra cost to the system as the vehicle needs accurate positioning of loads on the floor for pickup in the AGV market. The pallet trucks in the automotive guided vehicle market are anticipated to grow at a CAGR of approximately 17% during the forecast period.

·         Forklift Trucks

Forklift trucks can lift loads from both at floor level and on stands and these vehicles can also stack loads in a rack in the automated guided vehicle market. These vehicles have a very good reach,i.e., sometimes they can lift upto 30 feet to store or retrieve on high-bay racking. Guided fork truck can automatically pick up a load or deliver without any human intervention which in turn, is propelling their demand in the global AGV market. The ability to position its forks to any height according to conveyors or load stands increases its application in a variety of industrial operations.These trucks require precise path layout and a method of accurately positioning loads on the floor or stands for optimal performance of the vehicles.Forklift trucks offer greater flexibility in integrating other subsystems, but it also requires greater system discipline than with other systems in the AGV market. Forklift trucks in the automated guided vehicle market are estimated to grow at a CAGR of around 16% during 2017-2023.

·         Others

The others segment includes light load and assembly line vehicles in the automotive guided vehicle market.Light load guided vehicles are used in light manufacturing processes. These vehicles can lift loads upto 500 pounds, and are mostly used to transport small parts, baskets, or other light loads in the global AGV market.Assembly line guided vehicles is an adaptation of the small light load vehicles for an assembly line process. These vehicles carry vehicle parts such as motors or transmissions to serial assembly stations in the global AGV market. The vehicles are designed to offer flexibility in manufacturing processes by allowing parallel operations in the market. The other segment in the automotive guided vehicle market is projected to grow at a CAGR of about 18% during the forecast period.

The list of top vendors operating in the automotive guided vehicle market are:

  • KION Group
  • Daifuku
  • JBT Corporation
  • Toyota Industries
Read: Automated Guided Vehicle Market - Global Outlook and Forecast 2018-2023

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