New York, NY -- (SBWIRE) -- 04/29/2019 -- Increasing demand for automation in the handling of raw materials and increasing safety standards in workplace are the significant drivers of the market.

Market Size – USD 1.89 Billion in 2018, Market Growth - CAGR of 6.8% between 2019 and 2026, Market Trends – Industrial growth in emerging economies and emerging e-commerce industry

The Automated Guided Vehicle (AGV) market is expected to grow from USD 1.89 Billion in 2018 to USD 3.25 Billion by 2026, at a CAGR of 6.8%. The crucial factors that drive the growth of the AGV market include increasing demand for automation in the handling of materials across industries, the emerging e-commerce industry, increasing requirements for safety standards in the workplace and increased productivity due to improved supply chain processes.

High initial costs can be a major concern for those who consider the deployment of automated guided vehicles, which can lead to long - term high return on investment (ROI).

Low labor costs in emerging countries and technical challenges in real time can create more problems for AGV manufacturers.

The significant players in the market are SSI Schaefer (Germany), EK Automation (Germany), JBT Corporation (US), Toyota Industrial (Japan), Daifuku (Japan), Hyster-Yale Materials Handling (US), KUKA (Germany), KION Group (Germany), Kollmorgen (US), Seegrid Corporation (US), and others.

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Europe has the largest market share followed by North America. Infrastructure reform in Europe has led to the installation of insulation based on climatic condition and the grade and environmental impact of ceramic foam. The growing demand will push the market in Europe and emerging economies such as Singapore and India and ASEAN countries will also raise the demand in the APAC region.

Further key findings from the report suggest
- Advancement in technologies and research and development in this sector is set to provide ample opportunities for the market to grow.
- Increase in demand for metal casting across all industries is responsible for the rising use of ceramic foam in molten metal filtration application.
- With advancement in automotive and consumer devices, foundry sector growth is propelled.
- Automotive is the fastest growing end user. Need to increase the efficiency and functionality of automobile is boosting the growth of the market.
- The necessity to increase the fuel efficiency of vehicles by reducing emission and need to protect the environment is driving the market.
- The growth of urbanization creates a demand for automotive and expansion of infrastructure is also pushing the ceramic foam market upwards.
- Insulation in houses and buildings is crucial to maintain the weather conditions and also to sound proof the houses is driving the market.
- Lack of recyclable and reparable options and high capital intensive production technique is hindering the growth of the market.
- Growing awareness on acoustic and thermal insulation in developing economies and rising demand for re-insulation in developed regions to save cost has fuelled the market.

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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, navigation technology, industry, application, battery type and region.

Type (Revenue, USD Million; 2016–2026)
- Unit Load Carriers
- Assembly Line Vehicles
- Forklift Trucks
- Tow Vehicles
- Pallet Trucks
- Others (Automated Carts, Hybrid AGVs, and Customized AGVs)

Navigation Technology (Revenue, USD Million; 2016–2026)
- Laser
- Magnetic Guidance
- Vision Guidance
- Inductive Guidance
- Optical Tape Guidance
- Others (Dead Reckoning Guidance, Inertial Guidance, and Beacon Guidance)

Industry (Revenue, USD Million; 2016–2026)
- Automotive
- Manufacturing
- Food & Beverages
- Aerospace
- Healthcare
- Logistics
- Retail
- Others

Application (Revenue, USD Million; 2016–2026)
- Transportation
- Distribution
- Storage
- Assembly
- Packaging
- Others (Waste Handling and Work-in-Process Activities)

Battery Type (Revenue, USD Million; 2016–2026)
- Lead
- Nickel Based
- Lithium Ion
- Others (Hydrogen Fuel Cells and Ultracapacitors)

Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
o U.S.
- Europe
o France
o UK
- Asia Pacific
o China
o India
o Japan
- Latin America
o Brazil
- MEA

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/automated-guided-vehicle-agv-market

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