Key Findings
The Asia-Pacific automated guided vehicle market is anticipated to grow with a 7.98% CAGR during the forecast period, 2023-2032. The market growth is boosted due to emerging economies, the establishment of new manufacturing units by global OEMs, and the rising adoption of automation in industries like automotive, e-commerce, food & beverages, and pharmaceuticals & healthcare in countries like China, India, and South Korea.
Market Insights
The Asia-Pacific automated guided vehicle market growth evaluation entails the analysis of India, Australia & New Zealand, Singapore, Japan, China, South Korea, and Rest of Asia-Pacific. India’s manufacturing sector is rapidly expanding, largely fueled by the “Make in India” initiative to transform the country into a global manufacturing hub. This initiative has attracted international manufacturing conglomerates like GE, Siemens, HTC, Toshiba, and Boeing, enticed by India’s vast market of over a billion consumers and their escalating purchasing power.
Furthermore, e-commerce has revolutionized the business landscape in India, driven significantly by increasing internet and smartphone penetration. As automated guided vehicles (AGVs) are increasingly used for material handling, making distribution centers and warehouses more automated, e-commerce is anticipated to be a key driver of growth.
On the other hand, the South Korea automated guided vehicle market is forecasted to experience substantial growth due to rapid advancements in the manufacturing and e-commerce sectors, increased adaptability, and a surge in government expenditure. The South Korean government, striving to stay competitive with countries like China and Japan, actively supports automation in material handling and warehouses, implementing various initiatives to facilitate this transition.
Competitive Insights
Leading players operating in the market include Daifuku Co Ltd, Toyota Industries Corporation, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments