Industry Analysis & Industry Trends
Over the past five years, operators in the Automated Guided Vehicle (AGV) Manufacturing industry have lifted itself to new highs. As the economy expanded, industrial production and freight volumes climbed. Consequently, the need for more goods to be moved throughout manufacturing and logistics facilities grew. As a result, demand for AGVs increased. Over the next five years, industry revenue is expected to continue growing. Increasing manufacturing and transportation activity and a continued emphasis on productivity are anticipated to propel demand for industry products. Moreover, as operators adapt AGVs to accommodate more industries, their proliferation throughout the entire economy will rise. However, an appreciating dollar and competition will temper the rate of growth.... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Automated Guided Vehicle Manufacturing industry has a medium level of market share concentration, with the top four companies accounting for a combined 65.2% of industry revenue. The production of AGVs is highly specialized, and the technology has yet to be adopted as a standard component of most manufacturing and warehouse facilities. As such, demand for AGVs is largely directed at industry players with decades of experience and the capacity to customize vehicles based on a client's specific logistics needs.
During the past five years, IBISWorld estimates that the industry has become slightly less concentrated as international firms slowly expand their presence in the United States, drawing business away from established US-based companies... purchase to read more