Natural navigation technology's adoption is expected to grow significantly over the forecast period as it enables businesses to easily modify and expand the guide path of the AGVĪssembly line application is expected to have the highest CAGR over the forecasts period as assembly line AGV are replacing traditional mechanical production lines The unit load carrier segment is expected to expand at the fastest CAGR over the forecast period owing to its ability to handle multiple items simultaneously, reducing the number of trips required and, potentially, handling costs Hence, they are ideal for AGVs, as they need not be charged frequently during operating shifts or in 24x7 operating environments, and AGVs running on lithium-ion batteries can offer higher round-trip efficiencies.Īutomated Guided Vehicle Market Report Highlights They can charge faster, provide longer runtimes, and support more charge cycles. They tend to be lighter and more compact. Lithium-ion batteries offer several advantages over lead-acid batteries. The AGV market is witnessing a progressive switch from lead-acid to lithium-ion batteries. Also, material handling solutions are used to increase transportation efficiency, decrease physical damage to the material, and reduce overheads by limiting the number of employees. Further, these robots would also benefit the warehouse team in assembling, packaging, welding, storing, and shipping. In February 2021, Scott (Transbotics Corporation), a prominent solution provider for AGVs, partnered with KUKA AG, a German manufacturer of robots, to coordinate the industrial robots of KUKA AG into material handling systems. The partnership intends to offer best-in-class Autonomous Navigation Technology (ANT) technologies for MasterMover's range of AGVs. For instance, in March 2023, MasterMover Ltd, a prominent manufacturer of electric tug and tow solutions, announced a collaboration with BlueBotics, a navigation, robotics, and industrial automation company. Transportation and logistics firms are mainly focusing on deploying such equipment to boost the efficiency of their operations in line with the growing demand for their services. Several manufacturing plants and warehouses deploy material handling equipment for various activities, such as locating stock, picking orders, and moving products and raw materials. These vehicles can operate safely around structures, machinery, and employees, as they are equipped with accessories, such as camera vision and LiDAR sensors, which help detect junctions, identify floor signs, and avoid collisions with any obstacle. In a production environment where several operations are carried out simultaneously, these vehicles ensure a predictable and reliable transfer of raw materials and manufactured products from one point to another within the facility, thereby eliminating any potential disruption in production. The global automated guided vehicle market size is anticipated to reach USD 9.18 billion by 2030, registering a CAGR of 9.7% from 2023 to 2030.Īutomated guided vehicles (AGVs) have transformed the way materials can be moved within the manufacturing and distribution facilities. Dublin, (GLOBE NEWSWIRE) - The "Automated Guided Vehicle Market Size, Share & Trends Analysis Report By Vehicle Type, By Navigation Technology, By Application, By End-Use Industry, By Component, By Battery Type, By Region, And Segment Forecasts, 2023 - 2030" report has been added to 's offering.
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