Valley Cottage, NY -- (SBWIRE) -- 02/28/2017 -- The global automated guided vehicles (AGV) market is expected to offer a host of opportunities for companies operating in this landscape. AGV are driverless, electric motor vehicles, with a programming capability of path selection, destination, collision avoidance, and destination. AGV offer advantages in field of logistic systems by handling material flows automatically.

Modern AGVs are controlled through computer systems with on-board microprocessors. There is one position feedback system which controls the path of the vehicle. The AGV guidance system directs the vehicle on a predefined path. The advantage AGVs offer is that they are guided automatically without the need of conveyors and pulleys.

There are different types of guidance systems, such as wire guided systems, optical guidance systems, infrared, and laser guided systems. AGVS routing system is used to maneuver the vehicle in the correct direction.

Load transfer system offers loading and unloading of products through manual or automatic processes. Manual loading and unloading can be done by the use of forklift trucks, rollers, and pallet trucks. Automatic loading and unloading can be done through powered roller, belt, and chain.

Automated Guided Vehicles Market: Drivers and restraints

The global automated guided vehicles market is expected to increase at a healthy rate during the forecast period 2016-2026. Increasing the technological advancements and innovations in the logistics industry is a key factor promoting the growth of the market. Increasing awareness on the benefits of AGVs among end-users is also expected to drive adoption during the forecast period.

AGVs offer return on investment (ROI) in the long-run, but high initial cost of investment often dissuades end-use industries to invest in them. High initial investment is expected to remain a challenge in the first half of the forecast period; however, in the second half, technology innovation and price-based competition among end-users is anticipated to lead to lowering of prices, leading to increased adoption.

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Automated Guided Vehicles Market: Segmentation

Global market can be segmented on the basis of,

Vehicle Type:
Unit load carrier
Pallet Truck
Assembly Line Vehicle
Tow Vehicle
Forklift Trucks
Light Load Transporters
Assembly line vehicles
Navigation technology
Laser Guidance
Magnetic Guidance
Infra-Red Guidance
Wire Guided
Inertial Guided
Optical Guided
Application
Transportation
Distribution
Storage
End User
Logistics
Health care
Manufacturing
Food & Beverages
Aerospace

Automated Guided Vehicles Market: Overview

The demand for automated guided vehicles market is increasing due to increasing adoption by end-use industries. Focus on reducing operational costs and turnaround time have led to a favourable outlook towards the incorporation of advanced technologies, a trend that's anticipated to augur well for the prospects of the automated guided vehicles market in the long run. Owing to these factors, the global AGV market is anticipated to increase at steady rate during the forecast period.

Automated Guided Vehicles Market: Region-Wise Outlook

The global automated guided vehicles market is segmented into seven key regions into North America, Eastern Europe, Latin America, Asia Pacific Excluding Japan, Western Europe, Japan, Middle East and Africa.

North America is expected to dominate the global automated guided vehicles market due to the high awareness among end-use industries. Europe is also anticipated to witness steady growth rates, owing to incorporation by industrial advanced countries of Germany, France, and UK. The adoption of automated guided vehicles in Asia Pacific excluding Japan (APEJ) is anticipated to increase at a robust pace during the forecast period, as a number of manufacturing hubs are located in the region.

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Automated Guided Vehicles Market: Key players

Some of the key players in the automated guided vehicles market are,

JBT Corp
Daifuku Co., Ltd.
Swisslog Holdings AG.
Demantic & Co. Ltd.
Egemin International N.V.
Bastian Solution
Seegrid Corp