APAC Cold Storage AGV Market Is Expected To Grow At The Highest CAGR During The Forecast Period 2022-2032

Global Cold Storage AGVs Market: Market Overview

Cold storage AGV market is driven by a variety of factors like online shopping, updated delivery times, regulatory changes and newer production technologies. Throughput speed is essential in cold storage facilities. Thus, to maximize it, cold storage AGVs are quickly becoming ubiquitous in them. Owing to presence of special equipment as well as on-board heaters, cold storage AGVs can effectively pick, move, and transport items in a frozen facility. Cold storage AGVs can work for longer duration except for a few minutes every several hours to swap a battery.

The new obstacle detection and avoidance (ODA) and laser technology could further help cold storage AGVs to detect and avoid obstacles. These cold storage AGVs maintain a great deal of information on current and near-future status, such as the arrival and operation completion times of parts and products in manufacturing units working in cold storage environments, thereby enabling a new approach for production shop control.

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Huge capital expenditure is required to install and set up cold storage AGVs, at the same time maintenance cost is also high. This, in turn, act as a barrier for the growth of this market. However, the ROI for cold storage AGVs can even be stronger than in a traditional distribution facility.

Global Cold Storage AGVs Market: Market Segmentation

Cold storage AGV market can be segmented on the basis of the following:

By product type, the cold storage AGV market can be segmented as,

  • Unit Load Type
  • Automated Forklift Type
  • Tugger Type
  • Heavy duty AGV
  • Others

By application of cold storage AGVs, the cold storage AGV market can be segmented as,

  • Transportation
  • Storage
  • Distribution
  • Assembly
  • Others

By end use industry, the cold storage AGV market can be segmented as,

  • Food & Beverages
  • Healthcare
  • Electronics
  • Others

By area of operation of cold storage AGVs, the cold storage AGV market can be segmented as,

  • Warehouse
  • Production Line

By navigation technology used in cold storage AGVs, the cold storage AGV market can be segmented as,

  • Laser Guidance
  • Magnetic Guidance
  • Inductive Guidance
  • Optical Tape Guidance
  • Vision Guidance
  • Others (Dead Reckoning Guidance, Inertial Guidance, and Beacon Guidance)

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Cold Storage AGVs Market: Regional Analysis

The cold storage AGV market in APAC is expected to grow at the highest CAGR during the forecast period. America, China and Japan are the major contributors to the growth of cold storage AGVs market. The rapid growth of food & beverages, and healthcare industries in developing countries, such as China, India, and South Korea, has contributed to the growth of the cold storage AGV market in APAC region.

Moreover, governments in APAC countries are increasingly emphasizing safety and security in cold storage facilities, which can be best achieved by the implementation of increased usage of cold storage AGVs. The cold storage AGV market is witnessing rapid growth in countries such as China and Japan owing to increasing investments by manufacturers and suppliers in the installation of these vehicles at warehouses, distribution centres and production lines.

Cold Storage AGVs Market: COVID19 Impact

COVID19, foreseen to ramp up the demand for cold storage AGVs in various manufacturing units and warehouses. Also, cold storage AGVs have been realised of huge importance in manufacturing of various isolation products and medicines. This will amplify demand of cold storage AGVs in the forecast period.

However, the operations and supply chain of cold storage AGV market has been hit. Also, the maintenance and service of cold storage AGVs has been impacted badly due to unavailability technical staff of cold storage AGVs. The pandemic has increased requirement of social distancing and isolation in many manufacturing units and cold storages throughout the globe. This will increase the demand for cold storage AGVs globally.

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Moreover, cold storage AGVs help to reduce human involvement in many processes during manufacturing in frozen environments. It can also be noticed that economies are slowly starting their economies back again but with careful strategies, in order to avoid serious problems due to COVID19. The new strategies focus on functioning with reducing workforce capacity to maintain proper social distancing.

To avoid impact of these strategies on the productivity, products like cold storage AVGs will have a high demand in many businesses. However. Currently, the market is closed in many of cold storage AGVs market regions globally till this pandemic ends.

Cold Storage AGVs Market: Competition Analysis

As the demand of cold storage AGVs is fluctuating due to the COVID19 effect, there is good scope for new players to enter the market and exploit the untapped markets. Currently, the prominent players in cold storage AGVs market are Daifuku, Dematic, Egemin Automation, JBT, Meidensha, Corecon, Seegrid, Aethon, Doerfer, Savant Automation, Bastian Solutions, Murata, Transbotics.

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