Middle East and Africa Automated Guided Vehicle Market, By Type (Unit Load Carriers, Forklift Trucks, Tow Vehicles, Pallet Trucks, Assembly Line Vehicles and Others), Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Optical Tape Guidance and Others), Battery Type (Lead, Nickel Based, Lithium Ion and Others), Application (Handling Raw Materials, Work In Process Movement, Pallet Handling, Final Product Handling, Trailor Loading, Roll Handling, Container Handling and Others), Industry (Logistics, Food & Beverages, Healthcare, Manufacturing, Paper & Printing, Tobacco, Retail, Chemical and Others), Country (Saudi Arabia, U.A.E., Egypt, Israel, South Africa and Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Middle East and Africa Automated Guided Vehicle Market
Automated guided vehicle market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 11.2% in the forecast period of 2021 to 2028 and is expected to reach USD 1,718.88 million by 2028.
Automated guided vehicles also known as autonomous guided vehicles or self-guided vehicles are driverless vehicles that are used for handling materials or as load carriers in warehouse, manufacturing facility or distribution center. Automated guided vehicles are used for various applications such as transportation of raw material or finished good, for work in process, or lifting and handling of products. These are self-propelled vehicles which are guided with the help of software and sensors. Automated guided vehicles can move only along a pre-defined pathway that is provided through various navigation technologies such as wired navigation, magnetic guide tape, laser navigation, and vision guided among others. Some of these navigation technologies require major changes to be made in the infrastructure that increases the cost of investment.
Technological development in region is acting as major factor for the growth of the market. Middle East and Africa is being highly penetrated by the adoption of automation in various industries. Several rules and regulations have been initiated by the government in order to create a safe working environment. Automated guided vehicles provide high safety and make the process more efficient leading to increase in growth of the market.
This automated guided vehicle market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Middle East and Africa Automated Guided Vehicle Market Scope and Market Size
Automated guided vehicle market is segmented into five notable segments which are type, navigation technology, battery type, application and industry.
- On the basis of type, the automated guided vehicle market has been segmented into unit load carriers, forklift trucks, tow vehicles, pallet trucks, assembly line vehicles and others. In 2021, tow vehicles segment accounted for the largest market share in the automated guided vehicle market due to an increase in the utilization of tow vehicles in factories and warehouses for loading material with greater efficiency and with higher productivity.
- On the basis of navigation technology, the automated guided vehicle market has been segmented into laser guidance, magnetic guidance, vision guidance, inductive guidance, optical tape guidance and others. In 2021, magnetic guidance segment dominates the market with largest market share owing to several factors including ease of removal and relocation if the course needs to change, less expensive and others.
- On the basis of battery type, the automated guided vehicle market has been segmented into lead, nickel based, lithium ion and others. In 2021, lead segment augments the market with the maximum market share due to its less cost and economical nature. Moreover, increase in the usage of lead batteries in AGV by varied manufacturers is also one of the factors which help this segment to dominate in the market.
- On the basis of application, the automated guided vehicle market has been segmented into handling raw materials, work in process movement, pallet handling, final product handling, trailor loading, roll handling, container handling and others. In 2021, work in process movement accounts for the largest market share in the automated guided vehicle market due to the growing requirement for continuous movement of goods during the manufacturing process in each industry.
- On the basis of industry, the automated guided vehicle market has been segmented into logistics, food & beverages, pharmaceuticals, manufacturing, paper & printing, tobacco, retail, chemical and others. In 2021, manufacturing segment dominates the market with the largest market share due to the continuous need for organizing material handling equipment in regards to picking orders, storing goods, moving or transfer of raw material and goods and relocation of product and stock.
Automated Guided Vehicle Market Country Level Analysis
Automated guided vehicle market is analysed and market size information is provided by country, type, navigation technology, battery type, application and industry.
The countries covered in automated guided vehicle market report are Saudi Arabia, U.A.E., Egypt, Israel, South Africa and Rest of Middle East and Africa.
South Africa is dominating the region for automated guided vehicle market due to the high investment made by companies for development of more advanced technologies in order to increase the automation in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Automated Guided Vehicle
Automated guided vehicle market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in automated guided vehicle and changes in regulatory scenarios with their support for the automated guided vehicle market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Automated Guided Vehicle Market Share Analysis
Automated guided vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to automated guided vehicle market.
The major players covered in the report JBT, KUKA AG, Fritz SCHÄFER GmbH & Co KG, Kollmorgen (A subsidiary of Danaher), System Logistics S.p.A. (A subsidiary of Krones AG), SCAGLIA INDEVA s.p.a., Konecranes, Jungheinrich AG and Oceaneering International, Inc., among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of automated guided vehicle market.
- In February 2018, Murata Machinery, Ltd. announced the acquisition of AGVE AB, a Sweden based automated guided vehicle manufacturing company. The acquisition has helped the company in developing joint solution and products through the technical expertise of AGVE. The company aimed at catering a larger customer base through the surging demand of automated material handling equipment.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for automated guided vehicle through expanded range of size.
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