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The global market for automated guided vehicle is anticipated to grow at a robust pace, owing to the rising utilisation of the unit load carrier segment. The market is further propelled by the increasing demand for enhanced worker safety. The growth of the market is also attributed to the dramatic shift towards automation across industries. The industry growth is further aided by the rising adoption of automated guided vehicles like forklifts, pallet trucks, small rack-carrying robots, and others.
The Asia Pacific accounts for a significant share and is likely to witness a robust growth over the forecast period owing to the rapid advancement in technology, rapid industrialisation, and the growing shift towards automation. The rising investments in emerging economies like China and India are further propelling the market in the forecast period.
In April 2019, Daifuku Co., Ltd., a Japanese material handling equipment supplier and a major player in the automated guided vehicle, announced its acquisition of Hyderabad-based warehouse automation company Vega Conveyors and Automation, with Vega becoming a 100% subsidiary of Daifuku post-acquisition. The acquisition will allow the industry player to expand its manufacturing and distribution business segments within Asia and strengthen its position within the industry as Vega is also a provider of material handling equipment such as automated guided vehicles. Such mergers and acquisitions are likely to positively influence the market in the coming years. The rapid growth of e-commerce giants like Amazon (NASDAQ:AMAZN) is also expected to support the market growth in the forecast period.
Market Analysis by Type, Navigation Technology, Application, End Use, Industry, and Region:
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The major players in the global automated guided vehicle market are Daifuku Co., Ltd., JBT Europe B.V., KUKA AG, Seegrid Corporation, Toyota Material Handling, Inc., and Oceaneering International, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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