Automated Guided Vehicles are the vehicles which are controlled by computers and do not require any on board drivers. These AGVs are used on shop floors for moving heavy materials. These AGVs have a defined paths or areas within which they navigate. The Global Automated Guided Vehicle Market was worth 1.69 Billion USD in 2018 and is estimated to reach 3.11 Billion USD by 2025 at a CAGR of 9.1% during the forecast period
Growth by Region
Europe is expected to dominate Global Automated Guided Vehicle Market due to rising manufacturing activities in this region followed by North America and Asia Pacific with next largest market shares.
Drivers vs. Constraints
The growing automation across different product segments and reductions of the human labor force in various processes are the factors which drives Global Automated Guided Vehicle Market.
The lack of Continuous Support and Maintenance for these AGVs is the main reason which restricts market growth.
Industry Structure and Updates
In April a top AGV producer, KUKA along with Swisslog brand signed a value added reseller agreement with BEET.
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