Market Overview:
The global forklift automated guided vehicles (AGVs) market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth is attributed to the increasing demand for AGVs in various industrial applications, such as automotive, food and beverage, pharmaceuticals, and electronics industries. Additionally, the rising adoption of AGVs in warehouses and distribution centers is also propelling the growth of this market. The narrow forklift AGV segment accounted for a major share of the global forklift AGV market in 2017 and is projected to maintain its dominance during the forecast period. This can be attributed to their ability to navigate through tight spaces with ease.
Product Definition:
Forklift Automated Guided Vehicles are vehicles that use lasers, sensors and GPS navigation to guide themselves around a warehouse or factory. This allows operators to move goods around without having to steer the forklift manually. Forklift Automated Guided Vehicles can save time and money by reducing the number of accidents caused by human error, and they can also improve productivity by allowing workers to focus on other tasks.
Narrow Forklift AGV:
Narrow forklift AGV is a type of forklift truck that has an automated guided vehicle (AGV) integrated into its body. The integration allows the narrow forklift to move materials in a warehouse or factory without any manual intervention. The system works by detecting obstacles and automatically moving out of the way, allowing other equipment to pass through with ease.
The global market for narrow forklift AGV was valued at USD 3,788.1 thousand in 2015.
Straddle Forklift AGV:
Straddle forklift AGV is a type of forklift automation that involves the use of electronic control systems and cameras for providing an autonomous guided vehicle. The system works by identifying the objects in its path, and then moving them to allow other equipment access to areas or points in a warehouse where human workers cannot reach.
The global straddle forklift AGV market size was valued at USD 648.1 million in 2016.
Application Insights:
The automotive industry accounted for the largest share in the market and is expected to grow at a CAGR of XX% from 2018 to 2030. The growth can be attributed to increasing production levels of passenger cars and light commercial vehicles across various regions, including Asia Pacific, Europe, North America and Middle East & Africa.
Automotive manufacturers are investing heavily in AGVs as they offer benefits such as increased productivity on assembly lines with higher accuracy in part placement. Furthermore, AGVs help reduce floor space requirements by more than 50%. These factors are anticipated to drive product demand over the forecast period.
The food and beverage industry accounted for a significant share in 2017 owing to rising demand for packaged food products across various regions including North America and Europe.
Regional Analysis:
North America dominated the market in terms of revenue share in 2017. The region is expected to maintain its dominance over the forecast period owing to increasing adoption of automation technology and rising demand for AGVs with enhanced safety features. Moreover, growing emphasis on reducing workplace injuries and fatalities are anticipated to drive product demand over the next eight years.
The Asia Pacific region is projected to witness significant growth over the coming years due to rapid industrialization along with increasing government initiatives pertaining safety standards in countries such as China, Japan, South Korea, India and Australia. Furthermore, improving economic conditions are also likely boost regional product demand during the forecast period from 2018-2030 time span.
Growth Factors:
- Increasing demand for Forklift Automated Guided Vehicles from the automotive and logistics industries due to the benefits offered by these vehicles such as increased efficiency and productivity.
- Growing awareness about the benefits of Forklift Automated Guided Vehicles among small- and medium-sized businesses, which is expected to drive market growth in the coming years.
- Rising investments by forklift manufacturers in research and development activities to develop new and innovative products that can cater to the needs of different industries.
- The increasing adoption of Forklift Automated Guided Vehicles by large enterprises owing to its ability to improve operational efficiency across various departments within an organization. 5) The growing trend of Industry 4 .0, which is expected to result in increased demand for smart forklifts that are equipped with advanced features such as autonomous navigation, collision avoidance systems, etc
Scope Of The Report
Report Attributes
Report Details
Report Title
Forklift Automated Guided Vehicles Market Research Report
By Type
Narrow Forklift AGV, Straddle Forklift AGV, Reach Forklift AGV, Counterbalance Forklift AGV, Side Lifting Forklift AGV, Dual Fork Forklift AGV, Others
By Application
Automotive Industry, Food and Beverage Industry, Pharmaceutical Industry, Electronics Industry, Others
By Companies
Daifuku, Dematic, Dematic, JBT, Meidensha, Corecon, Seegrid, Aethon, Doerfer, Savant Automation, Bastian Solutions, Murata, Transbotics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Forklift Automated Guided Vehicles Market Report Segments:
The global Forklift Automated Guided Vehicles market is segmented on the basis of:
Types
Narrow Forklift AGV, Straddle Forklift AGV, Reach Forklift AGV, Counterbalance Forklift AGV, Side Lifting Forklift AGV, Dual Fork Forklift AGV, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive Industry, Food and Beverage Industry, Pharmaceutical Industry, Electronics Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Daifuku
- Dematic
- Dematic
- JBT
- Meidensha
- Corecon
- Seegrid
- Aethon
- Doerfer
- Savant Automation
- Bastian Solutions
- Murata
- Transbotics
Highlights of The Forklift Automated Guided Vehicles Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Narrow Forklift AGV
- Straddle Forklift AGV
- Reach Forklift AGV
- Counterbalance Forklift AGV
- Side Lifting Forklift AGV
- Dual Fork Forklift AGV
- Others
- By Application:
- Automotive Industry
- Food and Beverage Industry
- Pharmaceutical Industry
- Electronics Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Forklift Automated Guided Vehicles Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Forklift Automated Guided Vehicles (FAGV) are a type of automated vehicle that uses sensors and guidance systems to move goods or materials. They are typically used in warehouses, factories, and other industrial settings. FAGVs can be equipped with a variety of sensors to help them navigate their surroundings and carry out tasks such as moving items between shelves or racks.
Some of the key players operating in the forklift automated guided vehicles market are Daifuku, Dematic, Dematic, JBT, Meidensha, Corecon, Seegrid, Aethon, Doerfer, Savant Automation, Bastian Solutions, Murata, Transbotics.
The forklift automated guided vehicles market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Forklift Automated Guided Vehicles Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Forklift Automated Guided Vehicles Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Forklift Automated Guided Vehicles Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Forklift Automated Guided Vehicles Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Forklift Automated Guided Vehicles Market Size & Forecast, 2020-2028
4.5.1 Forklift Automated Guided Vehicles Market Size and Y-o-Y Growth
4.5.2 Forklift Automated Guided Vehicles Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Narrow Forklift AGV
5.2.2 Straddle Forklift AGV
5.2.3 Reach Forklift AGV
5.2.4 Counterbalance Forklift AGV
5.2.5 Side Lifting Forklift AGV
5.2.6 Dual Fork Forklift AGV
5.2.7 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automotive Industry
6.2.2 Food and Beverage Industry
6.2.3 Pharmaceutical Industry
6.2.4 Electronics Industry
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Forklift Automated Guided Vehicles Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Forklift Automated Guided Vehicles Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Narrow Forklift AGV
9.6.2 Straddle Forklift AGV
9.6.3 Reach Forklift AGV
9.6.4 Counterbalance Forklift AGV
9.6.5 Side Lifting Forklift AGV
9.6.6 Dual Fork Forklift AGV
9.6.7 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automotive Industry
9.10.2 Food and Beverage Industry
9.10.3 Pharmaceutical Industry
9.10.4 Electronics Industry
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Narrow Forklift AGV
10.6.2 Straddle Forklift AGV
10.6.3 Reach Forklift AGV
10.6.4 Counterbalance Forklift AGV
10.6.5 Side Lifting Forklift AGV
10.6.6 Dual Fork Forklift AGV
10.6.7 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automotive Industry
10.10.2 Food and Beverage Industry
10.10.3 Pharmaceutical Industry
10.10.4 Electronics Industry
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Narrow Forklift AGV
11.6.2 Straddle Forklift AGV
11.6.3 Reach Forklift AGV
11.6.4 Counterbalance Forklift AGV
11.6.5 Side Lifting Forklift AGV
11.6.6 Dual Fork Forklift AGV
11.6.7 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automotive Industry
11.10.2 Food and Beverage Industry
11.10.3 Pharmaceutical Industry
11.10.4 Electronics Industry
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Narrow Forklift AGV
12.6.2 Straddle Forklift AGV
12.6.3 Reach Forklift AGV
12.6.4 Counterbalance Forklift AGV
12.6.5 Side Lifting Forklift AGV
12.6.6 Dual Fork Forklift AGV
12.6.7 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automotive Industry
12.10.2 Food and Beverage Industry
12.10.3 Pharmaceutical Industry
12.10.4 Electronics Industry
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Narrow Forklift AGV
13.6.2 Straddle Forklift AGV
13.6.3 Reach Forklift AGV
13.6.4 Counterbalance Forklift AGV
13.6.5 Side Lifting Forklift AGV
13.6.6 Dual Fork Forklift AGV
13.6.7 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automotive Industry
13.10.2 Food and Beverage Industry
13.10.3 Pharmaceutical Industry
13.10.4 Electronics Industry
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Forklift Automated Guided Vehicles Market: Competitive Dashboard
14.2 Global Forklift Automated Guided Vehicles Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Daifuku
14.3.2 Dematic
14.3.3 Dematic
14.3.4 JBT
14.3.5 Meidensha
14.3.6 Corecon
14.3.7 Seegrid
14.3.8 Aethon
14.3.9 Doerfer
14.3.10 Savant Automation
14.3.11 Bastian Solutions
14.3.12 Murata
14.3.13 Transbotics
