Report : North America Automated Guided Vehicles Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Wired Navigation, Guide Tape Navigation, Laser Target Navigation, Magnetic Navigation, and Others), Type (Standard, Hybrid, Compact, and Others), Vehicle Type (Pallet Trucks, Unit Load Carriers, Driverless Trains, Forklift Trucks, and Others), and End-User (General Manufacturing, Food and Beverage, Aerospace, Retail, Healthcare, Logistics, Automotive, and Others)
Laser Target Navigation Segment to Dominate North America Automated Guided Vehicles Market during 2021–2028
According to a new market research study on “North America Automated Guided Vehicles Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Type, Vehicle Type, and End-User” is expected to reach US$ 2,278.41 million by 2028 from US$ 855.05 million in 2021. The market is estimated to grow at a CAGR of 15.0% from 2021 to 2028. The report provides trends prevailing in the North America automated guided vehicles market along with the drivers and restraints pertaining to the market growth. Accelerating demand for AGVs in E-commerce and rising demand for automation in material handling across industries are the major factor driving the growth of the North America automated guided vehicles market. However, overpriced installation, maintenance, and switching hinders the growth of North America automated guided vehicles market.
In case of COVID-19, North America is highly affected specially the US. North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation, presence of huge technological companies, and high adoption of automation in various industries especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner. Apart from the US, Canada and Mexico have also witnessed a significant rise in the number of COVID-19 infected patients. This led the governments to impose lockdowns to limit human movement, thereby leading the manufacturing facilities to experience lower than usual production volumes. The US is one of the largest markets for developing autonomous technologies and integrating it into machines to make them automated. In addition, testing of autonomous technologies is also high in the region, however due to COVID, this has declined. Similarly, many industries faced challenges during the pandemic situation. Due to lockdown, the production volume decreases for many sectors. Hence, the ongoing COVID-19 crisis and critical situation in the US is going to impact the AGV market growth of North America region in a negative manner for the next few quarters.
The North America automated guided vehicles market has been segmented based on technology, type, vehicle type, end-user, and country. Based on technology, the market has been segmented into wired navigation, guide tape navigation, laser target navigation, magnetic navigation, and others. The laser target navigation segment dominated the market in 2020 and guide tape navigation segment is expected to be fastest growing during forecast period. Based on type, the market has been segmented into standard, hybrid, compact, and others. The standard segment dominated the market in 2020 and hybrid segment is expected to be fastest growing during forecast period. Based on vehicle type, the market has been segmented into pallet trucks, unit load carriers, driverless trains, forklift trucks, and others. The pallet trucks segment dominated the market in 2020 and forklift trucks segment is expected to be fastest growing during forecast period. Based on end-user, the market has been segmented into general manufacturing, food and beverage, aerospace, retail, healthcare, logistics, automotive, and others. The logistics segment dominated the market in 2020 and healthcare segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into the US, Canada, and Mexico.
Balyo SA; Bastian Solutions, Inc.; Daifuku Co., Ltd.; Dematic Group (KION Group AG); Hyster-Yale Group, Inc.; JBT Corporation; Konecranes Oyj; Kuka AG; and SSI SCHAEFER Group are among the leading companies in the North America automated guided vehicles market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Hyster-Yale Group, Inc. had launched a new Hyster N30-45ZR/ZDR reach truck, designed to answer the call for high-density, high-throughput warehouse environments.
North America Automated Guided Vehicles Market, By Country, 2020 and 2028 (%)
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