Northbrook, IL -- (SBWIRE) -- 08/09/2018 -- The AGV market growth is fueled by the rising demand for automation in material handling across industries, emerging e-commerce industry, increasing requirement for improved workplace safety standards, and growing productivity due to improved supply chain processes. The AGV market is expected to grow from USD 1.86 billion in 2018 to USD 2.74 billion by 2023, at a CAGR of 8.02% between 2018 and 2023.

Daifuku (Japan), JBT Corporation (US), KION Group (Germany), KUKA (Germany), Toyota Industrial (Japan), Hyster-Yale Materials Handling (US), Kollmorgen (US), EK Automation (Germany), Seegrid Corporation (US) and SSI Schaefer (Germany) are among a few major market players. These players have adopted strategies such as product launches and developments, partnerships, contracts, collaborations, acquisitions, and expansions to widen their global presence and increase their share in the global AGV market.

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Daifuku (Japan), along with its subsidiaries, offers consulting, design, manufacturing, planning and engineering, installation and operation, and after-sales services for logistics systems and material handling equipment. Daifuku focuses on its core material handling business by enhancing the sales and production frameworks for manufacturing and distribution systems.

With more than 70 years of experience in the material handling industry, the company is one of the leaders in the AGV market. For instance, as stated in Daifuku's annual report, "Daifuku was ranked No.1 for the third straight year in the Top 20 Worldwide Materials Handling Systems Suppliers 2017, based on sales in 2016, by US-based Modern Material Handling magazine." The core strategy of the company is centered on organic growth, which has allowed it to expand its product offerings and gain a dominant position in the AGV market. In February 2015, the company launched System Automation Manager (SAM) and SmartCart Automatic Guided Carts (AGCs).

JBT Corporation (US) was incorporated in 2008 and is headquartered in Chicago, US. The company provides technological solutions to food processing and air transportation industries. It designs, manufactures, assembles, and tests material handling systems. JBT Corporation operates through 2 major segments: JBT FoodTech and JBT AeroTech. JBT FoodTech offers both customized and turnkey industrial solutions and services required in the food processing industry. JBT Corporation offers AGVs that are used in a wide variety of material handling applications, such as raw material handling, finished product handling, tooling movement, work-in-process movement, delivery of supplies, pallet handling, roll handling, and trailer loading. The company offers various types of AGVs, including forked AGVs, JayBoT AGVs, unit load AGVs, custom AGVs, clamp AGVs, roll positioner AGVs, Atlis AGVs, automatic batch retort (ABR) AGVs, and self-guided carts (SGCs).

The company also offers SGC manager software and AGV engineering services. In June 2017, JBT Corporation signed an agreement to acquire Aircraft Maintenance Support Services (AMSS) (UK) to provide its AeroTech segment, which includes JBT's AGVs, focused strategic investment for enhancing its military offerings.

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