We have seen them in movies. We have seen them in documentaries. We have read about them in science journals. Automatic guided vehicle systems (AGV) are a move toward what may seem like the technological future that we all anticipate. As the world prepares for what seems to be the future at some point, it should come as no surprise that many new markets will also develop, including AGV spare parts and AGV parts production. And while many of the current hi tech vehicles that are being developed are similar in many ways to more traditional cars, these new vehicles will still need some very specific AGV spare parts.
Although we may still be a long ways away from automated cars taking us to and from work, school, and recreation, the same technology that will someday be used to transport us to and from our typical activities is already in use in a variety of ways. For instance, AGVs are already widely used in automobile and power industries. In fact, with these two applications combined, the current use rate reached 59% together in the year 2015. Instead of having parts delivered to and from different stations by a person, for 59% of the time AGV parts are delivered by automatic machines. In the automobile industry, for instance, AGVs are primarily used in the automobile assembly, as well as the engine and transmission assembly lines.
Although robots are not used in private homes, they are very common in many industries. For instance, more than 90% of all robots used today are found in factories around the world. Given automated tasks, these robots are more efficient and safe than when humans complete the same jobs.
As automation level of automobile production line improves, the new demand for AGV from automobile industry is expected to reach as high as 10,500 units by the year 2020. Looking even further down the line, the worldwide AGV market is forecast to be close to $2.3 billion by the end of the year 2024. This is a significant increases from its $838.3 million value just two years ago in 2015