SAN FRANCISCO, November 29, 2018
SAN FRANCISCO, November 29, 2018 /PRNewswire/ --
The global automated guided vehicles (AGV) market size is expected to reach USD 7.3 billion by 2025, according to a new report by Grand View Research, Inc., registering a 16.5% CAGR over the forecast period. AGVs are transforming the way materials can be moved within manufacturing and distribution facilities. In a production environment where several operations are carried out simultaneously, these vehicles can ensure predictable and reliable transfer of raw materials as well as manufactured products from one point to another within the facility, thereby eliminating any potential disruption in production. These vehicles can operate safely around structures, machinery, and employees, as they are equipped with accessories such as camera vision and LiDAR sensors. These can help in detecting junctions, identifying floor signs, and avoiding collisions with obstacles.
Manufacturing plants and warehouses are increasingly deploying material handling equipment for various activities, such as locating stock, picking orders, and moving products and raw materials. Transportation and logistics firms are particularly under pressure to boost the efficiency of their operations in line with growing demand for their services. They are hence heavily investing in such equipment. Increasing demand for material handling equipment is expected to boost the AGV market over the forecast period.
The market is witnessing a progressive switch from lead-acid batteries to lithium-ion batteries. Lithium-ion batteries offer several advantages over lead-acid variants. They tend to be lighter and compact. Moreover, they can charge faster, offer longer runtimes, and support more charge cycles. Hence, they are considered to be ideal for AGVs, as they need not be charged frequently during operating shifts or in 24x7 operating environments. AGVs running on lithium-ion batteries can also offer higher round-trip efficiencies.
Browse full research report with TOC on "Automated Guided Vehicles (AGV) Market Analysis Report By Type (Tow Vehicle, Unit Load Carrier), By Navigation Technology, By Application (Logistics & Warehousing), By End-use Industry, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/automated-guided-vehicle-agv-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global automated guided vehicles (AGV) market by type, navigation technology, application, end-use industry, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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