Online shopping, updated delivery times, regulatory changes, and newer production technologies are all driving the cold storage AGV market. In cold storage facilities, throughput speed is critical. As a result, cold storage AGVs are quickly becoming commonplace in them in order to maximise it. Cold storage AGVs can effectively pick, move, and transport items in a frozen facility due to the presence of special equipment as well as on-board heaters. Except for a few minutes every several hours to swap a battery, cold storage AGVs can work for longer periods of time.
New obstacle detection and avoidance (ODA) and laser technology may help cold storage AGVs detect and avoid obstacles even more effectively. These cold storage AGVs store a wealth of data 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, allowing for a novel approach to production shop control.
Installing and setting up cold storage AGVs requires a significant capital investment, and maintenance costs are also high. This, in turn, acts as a roadblock to the market’s expansion. The return on investment for cold storage AGVs, on the other hand, can be even higher than in a traditional distribution centre.
Market for Cold Storage AGVs: A Regional Analysis
During the forecast period, the cold storage AGV market in APAC is expected to grow at the fastest rate. The United States, China, and Japan are the leading contributors to the market for cold storage AGVs. The rapid growth of the food and beverage and healthcare industries in developing countries like China, India, and South Korea has aided the expansion of the APAC cold storage AGV market.
Furthermore, governments in APAC countries are increasingly emphasising cold storage facility safety and security, which can be best achieved by increasing the use of cold storage AGVs.
COVID19 Impact on Cold Storage AGVs Market
COVID19 is expected to increase demand for cold storage AGVs in various manufacturing units and warehouses. In addition, cold storage AGVs have become increasingly important in the production of various isolation products and medicines. In the forecast period, this will increase demand for cold storage AGVs.
However, the cold storage AGV market’s operations and supply chain have been harmed. In addition, the lack of technical staff for cold storage AGVs has had a significant impact on maintenance and service. In many manufacturing units and cold storages around the world, the pandemic has increased the need for social distancing and isolation. The demand for cold storage AGVs will rise as a result of this.
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