The Latest Agv Industry Statistics Explained
The global AGV (Automatic Guided Vehicles) market size was valued at USD 2.5 billion in 2020.
The statistic “The global AGV (Automatic Guided Vehicles) market size was valued at USD 2.5 billion in 2020” indicates the total monetary value of the AGV market worldwide in the year 2020. This figure represents the combined revenue generated from the sale of automatic guided vehicles across various industries and regions. The value of USD 2.5 billion reflects the economic significance of AGVs in streamlining material handling and logistics operations, improving efficiency, and reducing manual labor costs for businesses. This statistic provides insight into the scale and growth potential of the AGV market, highlighting its increasing adoption and relevance in the automation of industrial processes.
The AGV Industry is projected to reach USD 3.39 billion by 2025 at a CAGR of over 14.4% from 2021 to 2025.
This statistic indicates that the AGV (Automated Guided Vehicle) Industry is expected to see significant growth in the coming years, with a projected market value of USD 3.39 billion by 2025. The Compound Annual Growth Rate (CAGR) of over 14.4% from 2021 to 2025 suggests a strong and steady increase in market size over this period. This growth is likely driven by factors such as increased adoption of automation in industries like manufacturing, logistics, and warehousing, as well as advancements in technology and efficiency offered by AGVs. Overall, this statistic reflects a promising outlook for the AGV industry and signals opportunities for businesses operating within this sector.
Europe accounted for 38% of the AGV system market in 2018.
The statistic that “Europe accounted for 38% of the AGV system market in 2018” indicates that within the global market for Automated Guided Vehicle (AGV) systems in 2018, Europe was responsible for 38% of the total market share. This means that a significant portion of AGV system sales, installations, or revenue occurred in Europe that year, highlighting the region’s importance in the industry. By capturing nearly 40% of the market share, Europe demonstrates considerable demand and adoption of AGV technology, reflecting a strong presence and investment in automation within the region during that time.
The automotive sector held the largest share (approximately 50.1%) of the AGV industry in 2018.
The statistic that the automotive sector held the largest share of the AGV (automated guided vehicle) industry in 2018, with approximately 50.1% market share, indicates that a significant portion of AGVs, which are robotic vehicles used for material handling and transportation in industries, were deployed in the automotive sector specifically. This suggests that the automotive industry heavily relies on AGVs for improving efficiency and productivity in manufacturing processes such as assembly line operations, material handling, and logistics. The dominance of the automotive sector in the AGV market could be attributed to the sector’s early adoption of automation technologies to streamline production operations and reduce costs, reflecting a trend towards increased automation and digitization in manufacturing industries.
The AGV industry in the Asia Pacific region is expected to exhibit the highest CAGR of 15.5% during 2020-2025.
The statistic indicates that the Automated Guided Vehicles (AGV) industry in the Asia Pacific region is projected to experience the highest Compound Annual Growth Rate (CAGR) of 15.5% during the period from 2020 to 2025. This means that the industry is anticipated to grow steadily at an average rate of 15.5% per year over the specified timeframe. The high CAGR suggests strong market demand, advancements in technology, increasing adoption of AGV systems in various industries, and favorable economic conditions in the Asia Pacific region. This growth rate signifies a promising outlook for the AGV industry in the region, with potential opportunities for companies operating in this sector to expand their market presence and achieve sustainable business growth.
The global AGV industry accounted for around 176,688 units in sales, in the year 2018.
The statistic stating that the global Automated Guided Vehicles (AGV) industry accounted for around 176,688 units in sales in the year 2018 indicates the number of AGVs sold worldwide during that specific year. AGVs are industrial robots designed to transport materials within manufacturing facilities, warehouses, and other industrial settings. This number highlights the demand for automated solutions in industries seeking to improve efficiency, productivity, and safety by incorporating AGVs into their operations. Understanding the sales volume of AGVs in 2018 provides valuable insights into the adoption and utilization of this technology in various sectors and serves as a reference point for tracking industry growth and trends.
Unit Load Carriers constituted 42% of the AGV market in 2019.
The statistic that ‘Unit Load Carriers constituted 42% of the AGV market in 2019’ indicates that a significant portion (42%) of Automated Guided Vehicles (AGVs) sold in the market in 2019 were Unit Load Carriers, which are vehicles designed to transport materials on pallets, racks, or other types of containers. This suggests that Unit Load Carriers were a popular choice among consumers and businesses for their material handling and transportation needs in the AGV market during that year. The statistic provides valuable insights into the market share and preferences within the AGV industry, highlighting the importance of Unit Load Carriers as a key player in the market.
Software and services in the AGV market are set to grow at an annual rate of 13.3% by 2026.
The statistic indicates that the software and services segment within the Automated Guided Vehicles (AGV) market is projected to experience significant growth, with an annual rate of 13.3% by the year 2026. This suggests a strong and steady expansion of the software and services offerings in the AGV market, indicating increasing demand for technological solutions and support services in this industry. The growth rate highlights the growing importance of software and services in optimizing the efficiency and performance of AGVs, catering to the evolving needs of industries relying on automated guided vehicles for material handling and logistics operations.
E-commerce is projected to be one of the most rapidly growing end-use segments in AGV industry, expanding at a CAGR of 17.8% from 2020 to 2027.
This statistic indicates that the E-commerce sector is estimated to be one of the fastest-growing segments within the Automated Guided Vehicle (AGV) industry. The Compound Annual Growth Rate (CAGR) of 17.8% from 2020 to 2027 suggests a significant increase in the adoption and utilization of AGVs within E-commerce operations. This growth rate implies a steady upward trajectory for E-commerce businesses incorporating AGVs into their processes, leading to greater efficiency, productivity, and cost savings over the forecasted period. The projection underscores the increasingly pivotal role that automation and technology are playing in enhancing the operations and competitiveness of E-commerce companies in the market.
The Autonomous Mobile Robots (AMR) sector is estimated to be the fastest-growing product type in the AGV industry, at a CAGR of 16.4% from 2020 to 2027.
The statistic indicates that the Autonomous Mobile Robots (AMR) sector within the Automated Guided Vehicles (AGV) industry is experiencing rapid growth, with a Compound Annual Growth Rate (CAGR) of 16.4% projected from 2020 to 2027. This suggests that the adoption and demand for AMRs, which are self-navigating robots used for materials handling and logistics in various industries, are set to significantly increase over the forecast period. The strong CAGR implies a substantial expansion in market size and potential opportunities for companies involved in developing and supplying AMR technology. Overall, this statistic points to the AMR sector as a key driver of growth within the AGV industry in the coming years.
The AGV industry in China is anticipated to grow at more than 15% CAGR from 2019 to 2025.
The statistic indicates that the Automated Guided Vehicle (AGV) industry in China is expected to experience a significant growth rate of over 15% annually from 2019 to 2025. This Compound Annual Growth Rate (CAGR) reflects a steady and substantial expansion of the AGV market within this timeframe, driven by factors such as technological advancements, increasing automation in industries, and rising demand for efficient material handling solutions. The projected growth signifies a promising trend for the AGV sector in China, with the industry likely to witness notable developments, investments, and opportunities for companies operating in this market segment.
Small parts assembly and transporting application segment in the AGV market is expected to grow at a CAGR of over 15% during the forecast period.
The statistic indicates that the small parts assembly and transporting application segment within the Automated Guided Vehicle (AGV) market is projected to experience substantial growth at a compounded annual growth rate (CAGR) exceeding 15% over the forecast period. This suggests a strong anticipated demand for AGVs specifically tailored for tasks such as moving and assembling small parts in industrial settings. The significant growth rate indicates a promising market opportunity driven by factors such as increasing automation in manufacturing processes, advances in robotics technology, and the need for improved efficiency and productivity in handling small components. Companies operating in this segment may benefit from the growing demand for AGVs designed to streamline small parts assembly and transportation operations, offering potential for market expansion and profitability.
Hybrid AGVs accounted for 16.1% share of the overall market revenue in 2019.
The statistic states that in 2019, hybrid Automated Guided Vehicles (AGVs) made up 16.1% of the total market revenue. This indicates that hybrid AGVs, which are a type of automated vehicle that combines electric and other power sources, played a significant role in the overall AGV market. The 16.1% share suggests that hybrid AGVs were relatively popular among consumers or industries utilizing AGV technology in 2019. This statistic provides insight into the market trend towards environmentally friendly and efficient transportation solutions, as hybrid AGVs are known for their lower emissions and potential cost savings compared to traditional AGVs.
The fastest-growing application segment of the AGV market is warehousing, which is projected to register a CAGR of over 15% from 2020 to 2027.
This statistic highlights the rapid expansion of the warehousing segment within the Automated Guided Vehicles (AGV) market, as it is expected to exhibit an impressive Compound Annual Growth Rate (CAGR) of over 15% from 2020 to 2027. This indicates a substantial increase in the adoption and utilization of AGVs within the warehousing industry, driven by factors such as the growing demand for automation, increased efficiency, and the need to optimize warehouse operations. The strong projected growth rate suggests that AGVs are becoming an integral part of modern warehousing practices, revolutionizing the way goods are handled and moved within distribution centers and storage facilities.
The American market for AGVs is expected to reach USD 2.8 billion by 2026, growing at a CAGR of 10.5%.
The statistic states that the American market for Automated Guided Vehicles (AGVs) is projected to increase in value to USD 2.8 billion by the year 2026, with a Compound Annual Growth Rate (CAGR) of 10.5%. This indicates a strong positive trend in the market, suggesting a consistent annual growth rate of 10.5% over the forecast period. The CAGR metric is commonly used to measure the average annual growth rate of an investment over a specified time frame, providing insight into the overall growth trajectory of the market. The significant growth forecast for AGVs in the American market reflects increasing demand for automation and efficiency in material handling and logistics operations, driving the adoption of AGV technology across various industries.
The demand for laser-based AGV is expected to grow at a CAGR of 9.1% from 2019 to 2024.
This statistic indicates that the demand for laser-based Automated Guided Vehicles (AGV) is projected to increase at a Compound Annual Growth Rate (CAGR) of 9.1% from the year 2019 to 2024. A CAGR of 9.1% suggests a consistent and steady growth rate over the specified timeframe. This forecast implies that there is a growing adoption and reliance on laser-based AGVs in various industries such as manufacturing, healthcare, retail, and logistics, among others. The increasing demand for automation and efficiency in material handling operations is likely driving this growth trend, as laser-based AGVs offer improved accuracy, flexibility, and reliability in navigating and moving goods within a facility.
Pallet trucks segment commanded a significant share of 32.4% in the global AGV market in 2016.
The statistic that the pallet trucks segment commanded a significant share of 32.4% in the global AGV (Automated Guided Vehicles) market in 2016 indicates that a substantial portion of the market was dominated by pallet trucks. This means that out of all the various types of AGVs available, pallet trucks were particularly popular and widely used during that time period. This high market share suggests that pallet trucks were in demand due to their effectiveness, efficiency, and cost-effectiveness compared to other AGV types. Additionally, it may signify the importance of pallet trucks in industries that heavily rely on automated material handling and logistics solutions.
The AGV industry in the logistics & transportation sector is expected to observe a 15% growth rate till 2026.
The statistic stating that the AGV (Automated Guided Vehicle) industry in the logistics & transportation sector is expected to observe a 15% growth rate until 2026 indicates that the industry is projected to expand significantly over the next few years. This growth rate suggests a steady and substantial increase in the adoption and utilization of AGVs within logistics and transportation operations. Factors driving this growth could include advancements in automation technology, increased demand for efficient and cost-effective solutions in the supply chain, as well as the benefits of increased productivity and reduced labor costs. This statistic serves as a positive indicator for the future prospects of the AGV industry, signaling opportunities for innovation, investment, and market expansion within the sector.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.360researchreports.com
2. – https://www.www.coherentmarketinsights.com
3. – https://www.www.fortunebusinessinsights.com
4. – https://www.www.gminsights.com
5. – https://www.www.futuremarketinsights.com
6. – https://www.www.polarismarketresearch.com
7. – https://www.www.researchandmarkets.com
8. – https://www.www.zionmarketresearch.com
9. – https://www.www.mordorintelligence.com
10. – https://www.www.verifiedmarketresearch.com
11. – https://www.www.precedenceresearch.com
12. – https://www.www.decisiondatabases.com
13. – https://www.www.prnewswire.com
14. – https://www.www.globenewswire.com
15. – https://www.www.alliedmarketresearch.com
