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The Automated Guided Vehicle (AGV) Market is projected to grow from USD 2.3 Billion in 2020 to USD 3.6 Billion by 2025; it is expected to grow at a CAGR of 9.3% from 2020 to 2025.
Top Companies Profiled in the Automated Guided Vehicle (AGV) Market:
- Daifuku (Japan)
- JBT (US)
- KION (Germany)
- KUKA (Germany)
- Toyota Industries (Japan)
- Hyster-Yale Materials Handling (US)
- Oceaneering (US)
- E&K Automation (Germany)
- Seegrid (US)
- SSI Schaefer (Germany)
COVID-19 has emerged as a global pandemic that has spread across 215 countries worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the AGV market.
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The customized and hybrid AGVs are witnessing high adoption rates across the world. Manufacturers are designing hybrid and customized AGVs to cater to the varying material handling requirements of different industries. They aid in moving and handling almost all types of industrial load—from small parts to heavy pallets.
The automotive industry is expected to hold the largest share of the AGV market during the forecast period. Key factors such as growing after-sales spare parts market, increasing levels of customization in vehicles, and the need to ensure availability of various parts required in assembling of a vehicle are driving the implementation of AGVs in the automotive industry.