The Asia-Pacific AGV market was valued at USD 1,219.02 million in 2016 and is expected to reach USD 4,053.75 million by 2022, witnessing a CAGR of 20.01% during the forecast period (2017-2022). This is the largest market for AGVs, globally. Easy availability of affordable automation services in the region due to highly fragmented market and increasing production in the automobile sector are boosting the demand for AGVs in the region.
AGVs are professional service robots that follow a guiding medium, such as a wire, magnet, or marker for navigation. They are mostly used in industrial manufacturing facilities and warehouses for moving materials with high precision. They are considered the best automation solution for many industries because of their flexibility and faster return on investment.
DEVELOPING COUNTRIES TO DRIVE THE DEMAND IN NEAR FUTURE
In this region, China and Japan were estimated to hold high market shares. But this situation is expected to change during the forecast period as the emerging countries in APAC are witnessing high rates of growth. With increasing production activities in countries like India, Indonesia, Singapore, and Malaysia, the large market shares of the key players have begun to drain into these countries.
Due to initiatives like Make in India, the country is attracting foreign investments. It is one of the very few countries in the world that has mass production of generic drugs, accounting for almost 20% of global export in terms of volume. With low labor costs and increasing local demand, Indonesia and Malaysia are emerging as leading automotive manufacturer in Southeast Asia. Additionally, with more than 7.2% growth in automotive production from 2015-2016, Indonesia stands as the second largest car manufacturer in Southeast Asia. Singapore is emerging as an electronics hub with over 20% of its production activity belonging to the electronics sector.
RETAIL SECTOR IS RACING TO THE TOP OF CHARTS WITH THE HELP OF E-COMMERCE
The retail sector, especially e-commerce, recorded a huge growth compared to any other sector in almost every Asian country. The top three countries that have experienced high rates of growth in e-commerce turnover include:
- China – With 413.3 million online shoppers, the country witnessed a growth of 19.96% in e-commerce turnover, fetching USD 681.9 billion revenue in the year 2017.
- Japan – Revenue generated in this sector is considerably low compared to China’s overall turnover. The country was estimated to generate USD 79,247 million in 2016 with a 16% growth in its e-commerce turnover.
- India – India has the second-largest population in the world, and yet only 33% of the population has access to the internet. Even with these low penetration levels, the country has almost 75 million e-shoppers contributing to approximately USD 37,572 million of revenue with 16.67% growth in its e-commerce turnover in 2016.
Logistics and warehousing are the major contributors to the growth of the e-commerce industry. With the boom in the e-commerce sector, the use of automation in warehouses and new establishments to enable quick deliveries (key competitive factor for e-commerce companies) is expected to create demand for AGVs in the region.
CHINA TO SPEARHEAD THE GROWTH ONCE AGAIN
China has emerged as a global leader in automation. The country has recorded an increase in the overall industrial robot sales from 15% to 20%, annually. Currently, China has a robot density of 36 units per 10,000 workers, which is very low compared to market leaders like Korea (478 units per 10,000 workers), Japan (314 units per 10,000 workers), and Germany (292 units per 10,000 workers).
China, with it’s, “Made in China 2025” campaign, is aiming to upsurge the country into a global power in the manufacturing of advanced technology rather than cheap, and often imitated, merchandise. China’s decisions to develop innovative R&D, train skilled workers, and upgrade factories to include more automation and robotics are further fueling the market’s growth. The International Federation of Robotics (IFR) has estimated that China would need to deploy between 600,000 to 650,000 new robots to achieve the density of 150 robots to 10,000 workers ratio. With the presence of the world’s most active industrial sector and initiatives ,such as Made in China 2025, China is expected to lead the demand forAGVs in for the next four years.
Our report on Asia-Pacific AGV Market covers the following
- APAC AGV market trends & dynamics
- Region-specific latest news & AGV oriented developments
- Porter’s five forces analysis
- Investment scope
- Deep-dive insights
1.1 KEY STUDY DELIVERABLES
1.2 KEY STUDY ASSUMPTIONS
1.3 MARKET DEFINITION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 MARKET OVERVIEW
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINT
4.4 INDUSRTY ATTRACTIVENESS- PORTER'S FIVE FORCES ANALYSIS
4.4.1 BARGAINING POWER OF SUPPLIERS
4.4.2 BARGAINING POWER OF CONSUMERS
4.4.3 THREAT OF NEW ENTRANTS
4.4.4 THREAT OF SUBSTITUTE PRODUCTS
4.4.5 COMPETITIVE RIVALRY WITHIN THE INDUSTRY
4.5 VALUE CHAIN ANALYSIS
5. ASIA-PACIFIC AGV MARKET SEGMENTATION
5.1 BY COUNTRY
18.104.22.168 BY END-USER
22.214.171.124.1 AUTOMOTIVE INDUSTRY
126.96.36.199.2 RETAIL AND WAREHOUSING
188.8.131.52.3 ELECTRONICS AND ELECTRICAL INDUSTRY
184.108.40.206.4 MANUFACTURING INDUSTRY
220.127.116.11.5 FOOD AND BEVERAGES INDUSTRY
18.104.22.168.6 PHARMACEUTICALS AND HEALTH CARE INDUSTRY *(Kindly note that similar end-user segment coverage is provided for all other countries in the scope.)
5.1.8 SOUTH KOREA
6. COMPANY PROFILES
6.1 KUKA GROUP
6.2 ABB LTD
6.3 DAIFUKU GROUP
6.4 JUNGHEINRICH GROUP
6.5 SSI SCHAEFER SYSTEMS INTERNATIONAL DWC LLC
6.6 AMERDEN INC
6.7 EGEMIN AUTOMATION
6.8 MURATA MACHINERY
6.9 TOYOTA MATERIAL HANDLING
6.10 SHENZHEN CASUN INTELLIGENT ROBOT CO., LTD.
7. FUTURE OF AGV MARKET