Automated Guided Vehicle Market

Daifuku (Japan) and JBT Corporation (US) are Leading Players in the Automated Guided Vehicle (AGV) Market

Automated guided vehicles (AGVs), also known as unmanned ground vehicles, are used for material-handling in an industrial setup. AGVs safely handle and transport all kinds of products, eliminating the need for human intervention in production, logistic, warehouse, and distribution environments. They can increase efficiency and productivity, as well as reduce product damage and labor costs. AGVs are an integral part of manufacturing processes and are indispensable in the material handling industry.

The market growth is mainly attributed to the growing demand for automation in material-handling across industries, the rising popularity of e-commerce, improved safety standards at workplaces, and shift in demand from mass production to mass customization. The AGV market is expected to reach USD 2.9 billion by 2024 from USD 2.0 billion in 2019 at a CAGR of 7.8%.

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Daifuku (Japan), JBT Corporation (US), and KION Group (Germany) are the leading players of this.

Daifuku (Japan) is involved in designing and manufacturing of logistics systems and material handling equipment, along with providing consultation, planning and engineering, installation and operation, and after-sales services for the same. The company has core business in Factory and Distribution Automation (FA&DA), e-Factory Automation (eFA), Automotive Factory Automation (AFA), Airport Technologies (ATec), Auto Washing Technologies (AWT), and Electronics. It mainly provides AGVs under the FA&DA business segment. With more than 70 years of experience in the material handling industry, the company is one of the leaders in the AGV market. It was ranked first in the Top 20 Worldwide Materials Handling Systems Suppliers 2017 for the consecutively third year by US-based Modern Material Handling magazine; the ranking was based on sales in 2016.

JBT Corporation (US) specializes in the design, manufacturing, testing, and servicing of technologically sophisticated systems and products. The company provides technology solutions to food processing and air transportation industries. JBT Corporation operates through 2 major segments: JBT FoodTech and JBT AeroTech. JBT FoodTech offers customized and turnkey industrial solutions and services to the food processing industry. AGVs offered by JBT Corporation are used in a wide variety of material handling applications, such as raw material handling, finished product handling, tooling movement, work-in-process movement, delivery of supplies, pallet handling, roll handling, and trailer loading. The company offers various types of AGVs, including forked AGVs, JayBoT AGVs, unit load AGVs, custom AGVs, towing AGVs, and self-guided carts (SGC). Additionally, the company offers SGC manager software and AGV engineering services. It has experienced consistent growth in the AGV market by providing efficient automated solutions to its customers. In April 2019, JBT Corporation signed an agreement with Hyster-Yale Materials Handling to launch a new dual-mode AGV to the market.

KION Group (Germany) manufactures forklifts, warehouse equipment, industrial trucks, and order fulfillment stations. KION, along with its subsidiaries, is engaged in the development of forklifts, warehouse equipment, and other industrial trucks for distribution and manufacturing industries. The company has expertise in designing material handling systems, stock management and transport control systems, automation solutions, and electric trucks. KION is a holding company that operates through 5 global brands—Dematic, Egemin Automation, Linde, STILL, and Baoli—along with 3 regional brands—Fenwick, OM STILL, and Voltas (India). The company also focuses on partnerships and acquisitions to expand its business in all geographies. For instance, in January 2018, it entered into a strategic partnership agreement with EP Equipment (China) to acquire a minority stake in it. This partnership is likely to help KION to broaden the reach of its warehouse equipment offerings to China and other countries in the world. Furthermore, in March 2019, KION expanded its business in APAC by setting up a new industrial truck manufacturing facility in India.

Related Reports:

Automated Guided Vehicle (AGV) Market by Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles), Navigation Technology (Laser Guidance, Vision Guidance), Application, Industry, and Geography - Global Forecast to 2024

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Report Code
SE 3351
RI Published ON
8/12/2019
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