Global Automated Guided Vehicle Market is valued at approximately USD 4.37 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 9.7% during the forecast period 2023-2030. An Automatic Guided Vehicle (AGV) is a self-directed or mobile robot guided by markers such as wires, magnetic tape on the floor, or laser references. These vehicles are progressively employed in the industrial domain to transfer materials from production facilities to automated warehouses or to optimize storage management with reduced risk to personnel. In any industry, there are materials and equipment involved to be shifted from one place to another safely which can be efficiently achieved by AGVs with minimum loss than humans which is the primary driver of this market. Employing labor for each task incurs ongoing expenses in terms of wages and salaries, which can be replaced by a one-time investment in AGVs.
The utilization of robots in industries worldwide has experienced significant growth due to their benefits, including enhanced safety, efficient time management, and reduced recurring costs. This trend has resulted in a substantial increase in demand for the Automated Guided Vehicle (AGV) market on a global scale.. According to the International Federation of Robotics, in 2021, The adoption of industrial robots within factories worldwide is rapidly increasing, with the new average global robot density in manufacturing industries reaching 126 robots per 10,000 employees. This figure represents nearly a twofold increase compared to five years ago (2015: 66 units). There is increasingly opportunistic growth in the E-Commerce industry which boosts the need for AGVs in the storage and warehouses where there is constant movement of materials as per the requirements. The appealing safety practices involved when materials are handled by machines is a great opportunity for the market to grow and it also contributes to the moral standards of the workplaces considering employee welfare as the vital aspect. However, the high initial cost of Automated Guided Vehicles stifles market growth throughout the forecasted period 2022-2030. Another significant constraint associated with AGVs is their lack of flexibility. Once programmed, it becomes complex to reconfigure them for alternative purposes.
The key regions considered for the Global Automated Guided Vehicle Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022. The regional market expansion is primarily fueled by heightened demand for material handling equipment within the manufacturing industry. Additionally, widespread automation across sectors has further propelled market growth in this region. Asia Pacific is expected to grow significantly over the forecast period. The e-commerce sector has been experiencing significant growth in emerging economies along with the increased adoption of industrialization on a large scale to achieve efficiency within the Asia Pacific region, in countries such as China and India.
Major market player included in this report are:
- Swisslog Holding AG
- Egemin Automation Inc.
- Bastian Solutions, Inc.
- Daifuku Co., Ltd.
- Dematic
- JBT Corporation
- Seegrid Corporation
- Toyota Industries Corporation
- Hyster-Yale Materials Handling, Inc.
- Balyo
Recent Developments in the Market:
- In March 2024, Swisslog unveils the next iteration of its CarryPick goods-to-person solution, featuring enhanced mobile robots designed to bolster performance and operational efficiency. This is beneficial for enterprises with diverse product portfolios or those requiring adaptable solutions to accommodate frequent fluctuations in product sizes or volumes
- In March 2023, Bastian Solutions revealed an automated guided forklift. Exceptionally adaptable and scalable, the CB18 is engineered to tackle a multitude of challenges, encompassing inventory management, comprehensive operational oversight, as well as labor and space constraints within distribution centers and warehouses.
- In October 2023, Daifuku Group, primarily active in North America, inaugurated the Airport & AGV Innovation Center, serving as a showcase facility for airport systems and Automatic Guided Vehicles (AGVs). The facility stands as the sole location in the United States showcasing Daifuku Airport Technologies' systems alongside six models of Webb's AGVs, all readily accessible for hands-on operation.
Global Automated Guided Vehicle Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Vehicle Type, Navigation Technology, Application, End use Industry, Component, Battery Type, Mode of Operation, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Type:
- Tow Vehicle
- Unit Load Carrier
- Pallet Truck
- Forklift Truck
- Hybrid Vehicles
- Others
By Navigation Technology:
- Laser Guidance
- Magnetic Guidance
- Vision Guidance
- Inductive Guidance
- Natural Navigation
- Others
By Application:
- Logistics & Warehousing
- Assembly
- Packaging
- Trailer Loading and Unloading
- Raw Material Handling
- Others
By End Use Industry:
- Manufacturing Sector
- Wholesale & Distribution Sector
By Component:
- Hardware
- Software
- Services
By Battery Type:
- Lead Battery
- Lithium-Ion Battery
- Nickel-based Battery
- Others
By Mode of Operation:
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1.Executive Summary
- 1.1.Market Snapshot
- 1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Automated Guided Vehicle Market, by Region, 2020-2030 (USD Billion)
- 1.2.2.Automated Guided Vehicle Market, by Vehicle Type, 2020-2030 (USD Billion)
- 1.2.3.Automated Guided Vehicle Market, by Navigation Technology, 2020-2030 (USD Billion)
- 1.2.4.Automated Guided Vehicle Market, by Application, 2020-2030 (USD Billion)
- 1.2.5.Automated Guided Vehicle Market, by End Use Industry, 2020-2030 (USD Billion)
- 1.2.6.Automated Guided Vehicle Market, by Component, 2020-2030 (USD Billion)
- 1.2.7.Automated Guided Vehicle Market, by Battery Type, 2020-2030 (USD Billion)
- 1.2.8.Automated Guided Vehicle Market, by Mode of Operation, 2020-2030 (USD Billion)
- 1.3.Key Trends
- 1.4.Estimation Methodology
- 1.5.Research Assumption
Chapter 2.Global Automated Guided Vehicle Market Definition and Scope
- 2.1.Objective of the Study
- 2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
- 2.3.Years Considered for the Study
- 2.4.Currency Conversion Rates
Chapter 3.Global Automated Guided Vehicle Market Dynamics
- 3.1.Automated Guided Vehicle Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
- 3.1.1.1.Need for safe material handling
- 3.1.1.2.Advantage of one time Expenditure
- 3.1.2.Market Challenges
- 3.1.2.1.High Initial Cost of Automated Guided Vehicle
- 3.1.2.2.Non-Flexibility of AGVs according to the dynamic requirements
- 3.1.3.Market Opportunities
- 3.1.3.1.The expansion of the e-commerce industry drives the adoption of AGVs for material handling purposes.
- 3.1.3.2.The emphasis on workplace safety contributes to the increased demand for AGVs
Chapter 4.Global Automated Guided Vehicle Market Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.2.Porter's 5 Force Impact Analysis
- 4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
- 4.4.Top investment opportunity
- 4.5.Top winning strategies
- 4.6.COVID-19 Impact Analysis
- 4.7.Disruptive Trends
- 4.8.Industry Expert Perspective
- 4.9.Analyst Recommendation & Conclusion
Chapter 5.Global Automated Guided Vehicle Market, by Vehicle Type
- 5.1.Market Snapshot
- 5.2.Global Automated Guided Vehicle Market by Vehicle Type, Performance - Potential Analysis
- 5.3.Global Automated Guided Vehicle Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Billion)
- 5.4.Automated Guided Vehicle Market, Sub Segment Analysis
- 5.4.1.Tow Vehicle
- 5.4.2.Unit Load Carrier
- 5.4.3.Pallet Truck
- 5.4.4.Forklift Truck
- 5.4.5.Hybrid Vehicles
- 5.4.6.Others
Chapter 6.Global Automated Guided Vehicle Market, by Navigation Technology
- 6.1.Market Snapshot
- 6.2.Global Automated Guided Vehicle Market by Navigation Technology, Performance - Potential Analysis
- 6.3.Global Automated Guided Vehicle Market Estimates & Forecasts by Navigation Technology 2020-2030 (USD Billion)
- 6.4.Automated Guided Vehicle Market, Sub Segment Analysis
- 6.4.1.Laser Guidance
- 6.4.2.Magnetic Guidance
- 6.4.3.Vision Guidance
- 6.4.4.Inductive Guidance
- 6.4.5.Natural Navigation
- 6.4.6.Others
Chapter 7.Global Automated Guided Vehicle Market, by Application
- 7.1.Market Snapshot
- 7.2.Global Automated Guided Vehicle Market by Application, Performance - Potential Analysis
- 7.3.Global Automated Guided Vehicle Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 7.4.Automated Guided Vehicle Market, Sub Segment Analysis
- 7.4.1.Logistics & Warehousing
- 7.4.2.Assembly
- 7.4.3.Packaging
- 7.4.4.Trailer Loading and Unloading
- 7.4.5.Raw Material Handling
- 7.4.6.Others
Chapter 8.Global Automated Guided Vehicle Market, by End Use Industry
- 8.1.Market Snapshot
- 8.2.Global Automated Guided Vehicle Market by End Use Industry, Performance - Potential Analysis
- 8.3.Global Automated Guided Vehicle Market Estimates & Forecasts by End Use Industry 2020-2030 (USD Billion)
- 8.4.Automated Guided Vehicle Market, Sub Segment Analysis
- 8.4.1.Manufacturing Sector
- 8.4.2.Wholesale & Distribution Sector
Chapter 9.Global Automated Guided Vehicle Market, by Components
- 9.1.Market Snapshot
- 9.2.Global Automated Guided Vehicle Market by Components, Performance - Potential Analysis
- 9.3.Global Automated Guided Vehicle Market Estimates & Forecasts by Components 2020-2030 (USD Billion)
- 9.4.Automated Guided Vehicle Market, Sub Segment Analysis
- 9.4.1.Hardware
- 9.4.2.Software
- 9.4.3.Services
Chapter 10.Global Automated Guided Vehicle Market, by Battery Type
- 10.1.Market Snapshot
- 10.2.Global Automated Guided Vehicle Market by Battery Type, Performance - Potential Analysis
- 10.3.Global Automated Guided Vehicle Market Estimates & Forecasts by Battery Type 2020-2030 (USD Billion)
- 10.4.Automated Guided Vehicle Market, Sub Segment Analysis
- 10.4.1.Lead Battery
- 10.4.2.Lithium-Ion Battery
- 10.4.3.Nickel-based Battery
- 10.4.4.Others
Chapter 11.Global Automated Guided Vehicle Market, by Mode of Operation
- 11.1.Market Snapshot
- 11.2.Global Automated Guided Vehicle Market by Mode of Operation, Performance - Potential Analysis
- 11.3.Global Automated Guided Vehicle Market Estimates & Forecasts by Mode of Operation 2020-2030 (USD Billion)
- 11.4.Automated Guided Vehicle Market, Sub Segment Analysis
- 11.4.1.Indoor
- 11.4.2.Outdoor
Chapter 12.Global Automated Guided Vehicle Market, Regional Analysis
- 12.1.Top Leading Countries
- 12.2.Top Emerging Countries
- 12.3.Automated Guided Vehicle Market, Regional Market Snapshot
- 12.4.North America Automated Guided Vehicle Market
- 12.4.1.U.S. Automated Guided Vehicle Market
- 12.4.1.1.Vehicle Type breakdown estimates & forecasts, 2020-2030
- 12.4.1.2.Navigation Technology breakdown estimates & forecasts, 2020-2030
- 12.4.1.3.Application breakdown estimates & forecasts, 2020-2030
- 12.4.1.4.End Use Industry breakdown estimates & forecasts, 2020-2030
- 12.4.1.5.Component breakdown estimates & forecasts, 2020-2030
- 12.4.1.6.Battery Type breakdown estimates & forecasts, 2020-2030
- 12.4.1.7.Mode of Operation breakdown estimates & forecasts, 2020-2030
- 12.4.2.Canada Automated Guided Vehicle Market
- 12.5.Europe Automated Guided Vehicle Market Snapshot
- 12.5.1.U.K. Automated Guided Vehicle Market
- 12.5.2.Germany Automated Guided Vehicle Market
- 12.5.3.France Automated Guided Vehicle Market
- 12.5.4.Spain Automated Guided Vehicle Market
- 12.5.5.Italy Automated Guided Vehicle Market
- 12.5.6.Rest of Europe Automated Guided Vehicle Market
- 12.6.Asia-Pacific Automated Guided Vehicle Market Snapshot
- 12.6.1.China Automated Guided Vehicle Market
- 12.6.2.India Automated Guided Vehicle Market
- 12.6.3.Japan Automated Guided Vehicle Market
- 12.6.4.Australia Automated Guided Vehicle Market
- 12.6.5.South Korea Automated Guided Vehicle Market
- 12.6.6.Rest of Asia Pacific Automated Guided Vehicle Market
- 12.7.Latin America Automated Guided Vehicle Market Snapshot
- 12.7.1.Brazil Automated Guided Vehicle Market
- 12.7.2.Mexico Automated Guided Vehicle Market
- 12.8.Middle East & Africa Automated Guided Vehicle Market
- 12.8.1.Saudi Arabia Automated Guided Vehicle Market
- 12.8.2.South Africa Automated Guided Vehicle Market
- 12.8.3.Rest of Middle East & Africa Automated Guided Vehicle Market
Chapter 13.Competitive Intelligence
- 13.1.Key Company SWOT Analysis
- 13.2.Top Market Strategies
- 13.3.Company Profiles
- 13.3.1. Swisslog Holding AG
- 13.3.1.1.Key Information
- 13.3.1.2.Overview
- 13.3.1.3.Financial (Subject to Data Availability)
- 13.3.1.4.Product Summary
- 13.3.1.5.Recent Developments
- 13.3.2.Egemin Automation Inc.
- 13.3.3.Bastian Solutions, Inc.
- 13.3.4.Daifuku Co., Ltd.
- 13.3.5.Dematic
- 13.3.6.JBT Corporation
- 13.3.7.Seegrid Corporation
- 13.3.8.Toyota Industries Corporation
- 13.3.9.Hyster-Yale Materials Handling, Inc.
- 13.3.10.Balyo
Chapter 14.Research Process
- 14.1.Research Process
- 14.1.1.Data Mining
- 14.1.2.Analysis
- 14.1.3.Market Estimation
- 14.1.4.Validation
- 14.1.5.Publishing
- 14.2.Research Attributes
- 14.3.Research Assumption