The demand within the global automated guided vehicle market is set to increase at a noticeable pace in the times to follow. The humongous demand for new-age technologies that can expedite the manufacturing process across the industrial sector has paved way for market growth. There has been a surge in demand for digital technologies that can manoeuvre the direction of operations in the manufacturing sector. Digital transformative technologies have become the order of the industrial sector, and several of these technologies have been embraced by leading-edge manufacturers. Therefore, the global automated guided vehicle market is expected to grow at a sturdy pace in the years to follow.
In this article, Fact.MR decodes several important dynamics that have driven sales across the global automated guided vehicle market. The use of these vehicles in various industries such as automotive, chemical, and pharmaceutical is the basis for market expansion.
Shift from Manual to Digital Technologies
The shift from the use of manual technologies to digital machines has played a crucial role in market growth and development. There has been an increase in the use of automation mechanisms in the industrial sector. Use of automated sensors and detectors in key industrial technologies such as loaders, vehicles, and carts has played a vital role market expansion. The digital game of industrial units has matured in recent times, and has created room for market growth. Therefore, the global automated guided vehicle market is set to tread along a lucrative pathway in the times to follow.
Growing Relevance of Automation Technologies
The need for agility and seamless control across the operations of the manufacturing sector has become the cornerstone for digital transformation. Automated guided vehicles have emerged as a panacea for industries battling long processing and manufacturing times. These vehicles ensure that carriage of raw materials happens at a respectable pace. Furthermore, automated guided vehicles have also come in handy in reducing costs across the industrial setup. Movement of work-in process goods and materials has also become much easier with the use of these vehicles. Therefore, it is safe to expect the inflow of fresh revenues into the global automated guided vehicle market.
Trailer loading of finished good is a labour-intensive activity that often poses risks such as human injury, damage to goods, and imperfect loading. Therefore, use of automated guided vehicle provides a sound alternative to manufacturers who can eliminate the aforementioned risks. The pharmaceutical and chemical industries have exhibited voluminous demand for automated guided vehicles. The need for real-time manufacturing and processing of products in these industries has become the basis for market maturity. In addition to this, the food and beverages industry has also become a prominent consumer of automated guided vehicle in recent times.
Growing Number of Warehouses
Several large warehouses of public and private contractors and manufacturers employ automated guided vehicles to ease operations. Therefore, the presence of a large number of warehouses, especially in developed countries, is indicative of seamless growth across the global market. The ease of charging the batteries of automated guided vehicles has also led to an increase in the rate of their adoption. Some of the key applications of these vehicles include pallet handling, container handling, finished product handling, and roll handing. The relevance of the aforementioned operations cannot be underestimated.
Some of the leading vendors operating in the global automated guided vehicle market are Teradyne Inc, Tompkins Robotics, Murata Machinery Ltd., KION Group, Toyota Industries, KUKA, and Hyster-Yale Materials Handling.