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Global Automated Guided Vehicles Market 2015 to Grow at a CAGR of 10.9% by 2022

time: 2015-11-30         read:  3574  times  

The Global Automated Guided Vehicles market is expected to reach.7 billion by 2022 by growing at a CAGR of 10.9% from 2014 to 2022. Automated guided vehicles are becoming more popular in applications that transport heavy loads and generally used as substitute for forklifts, manually powered push-pull carts and conventional conveyor systems. Shortage of labor and increasing labor Costs, increasing material handling equipment demand, and rising investments in emerging nations such as India, Japan and china are the factors fueling the market growth. Industrial manufacturing sector witnessing the rapid growth and is acting as key driver for automated guided vehicles market. High initial investments is posing a major challenge for the market growth.

Source: http://www.sbwire.com/press-releases/global-automated-guided-vehicles-market-2015-to-grow-at-a-cagr-of-109-by-2022-644359.htm