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Automated Guided Vehicle Market worth 2.68 Billion USD by 2022

The overall automated guided vehicle market is expected to reach USD 2.68 Billion by 2022, at a CAGR of 9.34% between 2017 and 2022. The growth of this market is propelled by the advancements in automation, emphasis on workplace safety and higher productivity, and increasing government initiatives in the process and manufacturing industries to track their material handling processes. The growth in flexible manufacturing systems and the increasing demand for customized and intelligent AGVs are creating opportunities for this market.

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Automated Guided Vehicle Market worth 2.68 Billion USD by 2022

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  1. Automated Guided Vehicle Market worth 2.68 Billion USD by 2022 According to a new market research report "Automated Guided Vehicle Market by Type (Unit Load Carrier, Tow Vehicle, Forklift Truck, Pallet Truck, Assembly Line Vehicle), Navigation Technology, Battery Type, Industry, Application, & Region - Global Forecast to 2022", (www.marketsandmarkets.com), the total market is expected to reach USD 2.68 Billion by 2022, at a CAGR of 9.34% during the forecast period. Browse 76 market data tables and 70 figures spread through 183 pages and in- depth TOC on "Automated Guided Vehicle Market - Global Forecast to 2022" http://www.marketsandmarkets.com/Market-Reports/automated-guided-vehicle- market-27462395.html Early buyers will receive 10% customization on reports. The automotive industry segment dominates the automated guided vehicle market published by MarketsandMarkets The automotive industry is the largest contributor toward the world economy and is attracting investments from across the world, which in turn creates an opportunity for the automated guided vehicle market. Automotive suppliers have made rapid progress by innovating new products and enabling real-time information for efficient product delivery while maintaining high quality. The typical applications in the automotive industry include automated raw material delivery and automated work-in-progress movements between manufacturing cells and transport of finished goods. Lithium-ion battery type is expected to dominate the automated guided vehicle market during the forecast period Among all the battery types that are used in automated guided vehicles for power supply, lithium-ion batteries currently have a high demand. The major factors influencing the increasing adoption of lithium-ion batteries in AGVs are their cost effectiveness, high density, light weight, and the ability to sustain in cold temperatures. Next-generation li-ion batteries are expected to make use of silicon anodes that utilize silicon nanotubes or a coating of silicon material for significantly higher energy storage and longer battery life.

  2. APAC expected to grow at the highest CAGR during the forecast period The market in APAC is expected to grow at the highest CAGR between 2017 and 2022. The growth in APAC is mainly attributed to the rapid adoption of automation to counter the rising labor costs and cater to the need for increasing the production processes without compromising on the quality standards. Additionally, the state-of-the-art infrastructure in China is attracting numerous new entrants into the AGV market in the country. The growth is further fueled by the growing demands for automation from different industries such as food & beverages, automotive, and e-commerce. The report profiles top players of the automated guided vehicle market, which include Daifuku Co., Ltd. (Japan), JBT Corporation (U.S.), KION Group (Germany), KUKA AG (Germany), Toyota Industrial Corporation (Japan), Hyster-Yale Materials Handling, Inc. (U.S.), Kollmorgen (U.S.), E&K Automation GMBH (Germany), Seegrid Corporation (U.S.), and SSI Schaefer AG (Germany). The report also analyzes the market trends for each of the market segments and their respective growth rates. Download PDF Brochure@ http://www.marketsandmarkets.com/pdfdownload.asp?id=27462395 About MarketsandMarkets MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. Contact: Mr. Rohan Markets and Markets 701 Pike Street Suite 2175, Seattle, WA 98101, United States USA : 1-888-600-6441 UK : 44-800-368-9399 sales@marketsandmarkets.com

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