Automated Guided Vehicle Market – By Navigation/Guidance (Laser Guidance, Magnetic Guidance, Inductive/Wire Guidance, GPS, 3D Vision Guidance and Others), By Application (Parts-To-Line, Kitting/Picking, End of Line, Replenishment, Staging/Sortation, Cross Docking, Trash Removal and Others), By Vehicle Type (Forklifts/Pellet, Tow, Clamp, Unit Load, Carts, Heavy Burden Carrier and Others) By End Use Industry (Automotive, Manufacturing, Chemical and Pharmaceutical, Aerospace, Paper, Food and Beverage, Warehousing and Distribution and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030
Automated Guided Vehicle Market Overview:
Automated Guided Vehicle Market Size is valued at $6.3 Billion by 2030, and is anticipated to grow at a CAGR of 8.05% during the forecast period 2024 -2030. Automated Guided Vehicles (AGVs) are innovative, self-operating machines that utilize predefined routes or cutting-edge technologies such as lasers and GPS for navigation. These vehicles are increasingly utilized in warehousing, manufacturing, and logistics, significantly enhancing material handling and inventory management processes.
Current trends highlight their integration with Industry 4.0 technologies, a surge in e-commerce demand, and their growing adoption in sectors like retail and pharmaceuticals that prioritize efficiency and labor cost reduction. As businesses strive for operational excellence, AGVs play a crucial role in streamlining workflows and improving productivity across various industries.
Market Snapshot:
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Automated Guided Vehicle Market - Report Coverage:
The “Automated Guided Vehicle Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Automated Guided Vehicle Market.
Attribute |
Segment |
By Navigation/Guidance |
|
By Application |
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By Vehicle Type |
|
By Application |
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By Geography |
|
COVID-19 / Ukraine Crisis - Impact Analysis:
- The COVID-19 pandemic significantly accelerated the adoption of Automated Guided Vehicles (AGVs) as industries grappled with labor shortages and surging e-commerce demands. AGVs facilitated social distancing by automating tasks in warehouses and production environments, ensuring continuous operations. However, the market faced temporary setbacks due to supply chain disruptions and halted manufacturing activities. As businesses emerged from the pandemic, there was a renewed focus on resilience, further driving AGV demand, particularly in logistics and healthcare sectors. This shift underscores the critical role of automation in enhancing operational efficiency and addressing workforce challenges in a post-pandemic landscape.
- The Russia-Ukraine war has significantly impacted the Automated Guided Vehicle (AGV) market by disrupting global supply chains and limiting access to essential electronic components and raw materials. European markets, heavily reliant on trade routes through the affected region, faced delays in AGV production and deployment. Despite these challenges, the geopolitical tensions have heightened the demand for automated solutions as industries seek to enhance operational efficiency and address workforce shortages. This shift underscores the growing importance of AGVs in maintaining productivity and resilience amidst ongoing disruptions in logistics and manufacturing sectors.
Key Takeaways:
- Growing Demand of Automated Guided Vehicles (AGVs) in Warehousing & Distribution Sector
Automated Guided Vehicles (AGVs) are rapidly gaining traction across various industries, with material handling in warehouses and factories emerging as the most prominent application. This segment is expected to grow at a robust compound annual growth rate (CAGR) of 10.67% during the forecast period, driven by the increasing adoption of automation to reduce human errors and enhance operational efficiency. Automation is transforming industrial processes by minimizing manual intervention and streamlining tasks ranging from basic operations to complex workflows. Beyond material handling, AGVs are widely utilized for staging, sorting, cross-docking, replenishment, picking, and trash removal, all of which contribute significantly to the market's revenue growth. These diverse applications have created opportunities for AGV manufacturers to innovate and offer tailored solutions such as laser-guided vehicles (LGVs), Automated Guided Carts (AGCs), Fahrerlose Transport Systems (FTS), motorized roller conveyors, pallet trucks, and Assembly Line Vehicles (ALVs). The growing demand for specialized AGVs tailored to the unique needs of different industries underscores the importance of customization in driving the market forward.
- Rising Need for Automated Guided Vehicles Driven by Increased Production and Efficiency
Automated Guided Vehicles (AGVs) are transforming industrial production by performing repetitive tasks with exceptional precision while lowering operational costs. Unlike human workers, AGVs can operate continuously without fatigue, significantly increasing output and optimizing workflows. This relentless operation not only enhances productivity but also improves return on investment, allowing industries to scale their production capabilities without interruptions. Moreover, AGVs play a crucial role in optimizing labor allocation by taking over mundane tasks, enabling human workers to focus on more complex and value-added activities. This shift not only boosts overall industrial efficiency but also enhances competitiveness in a rapidly evolving market. As businesses increasingly adopt AGVs, they are better positioned to meet growing demands while maintaining high standards of quality and efficiency. The integration of AGVs into production processes represents a significant step towards achieving operational excellence in various sectors, including manufacturing, logistics, and warehousing.
- Negative Impact on the Automated Guided Vehicle Market Due to Safety Risks
Automated Guided Vehicles (AGVs) present safety challenges, particularly in environments where they share space with humans or other machinery. The risk of collisions can arise from inefficient programming or sensor malfunctions, leading to operational hazards that may deter businesses from adopting this technology. To ensure safe operations, it is essential to implement stringent safety protocols and utilize advanced navigation technologies that enhance the reliability of AGVs. These measures can significantly reduce the likelihood of accidents and promote a safer working environment. Additionally, continuous monitoring and regular maintenance of AGV systems are vital to address potential issues proactively. As companies seek to integrate AGVs into their workflows, addressing safety concerns will be crucial for achieving widespread market penetration. By prioritizing safety and investing in robust technological solutions, industries can harness the benefits of AGVs while ensuring the well-being of their workforce and operational integrity.
Key Market Players:
Product launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Automated Guided Vehicle Market. The top 10 companies in this industry are listed below:
- Daifuku
- JBT Corporation
- KION Group
- KUKA
- Toyota Material Handling
- Hyster-Yale Materials Handling
- Kollmorgen
- EK Automation
- Seegrid Corporation
- SSI Schaeffler
Scope of the Report:
Details |
|
Base Year Considered |
2023 |
Forecast Period |
2024-2030 |
CAGR |
8.05% |
Market Size in 2030 |
$6.3 billion |
Segments Covered |
By Navigation/Guidance, By Application, By Vehicle Type, By End Use Industry, and By Region |
Regions Covered |
North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East, and Africa). |
Key Market Players |
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1.1. Definitions and Scope
2. Automated Guided Vehicle Market - Executive summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by type of Application
2.3. Key Trends segmented by Geography
3. Automated Guided Vehicle Market
3.1. Comparative analysis
3.1.1. Product Benchmarking - Top 10 companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value split by Top 10 companies
3.1.4. Patent Analysis - Top 10 companies
3.1.5. Pricing Analysis
4. Automated Guided Vehicle Market – Startup companies Scenario Premium
4.1. Top 10 startup company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Market Shares
4.1.4. Market Size and Application Analysis
4.1.5. Venture Capital and Funding Scenario
5. Automated Guided Vehicle Market – Industry Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing business index
5.3. Case studies of successful ventures
5.4. Customer Analysis – Top 10 companies
6. Automated Guided Vehicle Market Forces
6.1. Drivers
6.2. Constraints
6.3. Challenges
6.4. Porters five force model
6.4.1. Bargaining power of suppliers
6.4.2. Bargaining powers of customers
6.4.3. Threat of new entrants
6.4.4. Rivalry among existing players
6.4.5. Threat of substitutes
7. Automated Guided Vehicle Market - Strategic analysis
7.1. Value chain analysis
7.2. Opportunities analysis
7.3. Product life cycle
7.4. Suppliers and distributors Market Share
8. Automated Guided Vehicle Market – By Navigation/Guidance (Market Size -$Million / $Billion)
8.1. Market Size and Market Share Analysis
8.2. Application Revenue and Trend Research
8.3. Product Segment Analysis
8.3.1. Laser Guidance
8.3.2. Magnetic Guidance
8.3.3. Inductive/Wire Guidance
8.3.4. GPS
8.3.5. 3D Vision Guidance
8.3.6. Others
9. Automated Guided Vehicle Market – By Application (Market Size -$Million / $Billion)
9.1. Parts-To-Line
9.2. Kitting/Picking
9.3. End of Line
9.4. Replenishment
9.5. Staging/Sortation
9.6. Cross Docking
9.7. Trash Removal
9.8. Others
10. Automated Guided Vehicle Market – By Vehicle Type (Market Size -$Million / $Billion)
10.1. Forklifts/Pellet
10.2. Tow
10.3. Clamp
10.4. Unit Load
10.5. Carts
10.6. Heavy Burden Carrier
10.7. Others
11. Automated Guided Vehicle – By End Use Industry(Market Size -$Million / $Billion)
11.1. Segment type Size and Market Share Analysis
11.2. Application Revenue and Trends by type of Application
11.3. Application Segment Analysis by Type
11.3.1. Automotive Industry
11.3.2. Manufacturing Industry
11.3.3. Chemical and Pharmaceutical Industries
11.3.4. Aerospace Industry
11.3.5. Paper Industry
11.3.6. Food and Beverage Industry
11.3.7. Warehousing and distribution
11.3.8. Others
12. Automated Guided Vehicle - By Geography (Market Size -$Million / $Billion)
12.1. Automated Guided Vehicle Market - North America Segment Research
12.2. North America Market Research (Million / $Billion)
12.2.1. Segment type Size and Market Size Analysis
12.2.2. Revenue and Trends
12.2.3. Application Revenue and Trends by type of Application
12.2.4. Company Revenue and Product Analysis
12.2.5. North America Product type and Application Market Size
12.2.5.1. U.S.
12.2.5.2. Canada
12.2.5.3. Mexico
12.2.5.4. Rest of North America
12.3. Automated Guided Vehicle - South America Segment Research
12.4. South America Market Research (Market Size -$Million / $Billion)
12.4.1. Segment type Size and Market Size Analysis
12.4.2. Revenue and Trends
12.4.3. Application Revenue and Trends by type of Application
12.4.4. Company Revenue and Product Analysis
12.4.5. South America Product type and Application Market Size
12.4.5.1. Brazil
12.4.5.2. Venezuela
12.4.5.3. Argentina
12.4.5.4. Ecuador
12.4.5.5. Peru
12.4.5.6. Colombia
12.4.5.7. Costa Rica
12.4.5.8. Rest of South America
12.5. Automated Guided Vehicle - Europe Segment Research
12.6. Europe Market Research (Market Size -$Million / $Billion)
12.6.1. Segment type Size and Market Size Analysis
12.6.2. Revenue and Trends
12.6.3. Application Revenue and Trends by type of Application
12.6.4. Company Revenue and Product Analysis
12.6.5. Europe Segment Product type and Application Market Size
12.6.5.1. U.K
12.6.5.2. Germany
12.6.5.3. Italy
12.6.5.4. France
12.6.5.5. Netherlands
12.6.5.6. Belgium
12.6.5.7. Spain
12.6.5.8. Denmark
12.6.5.9. Rest of Europe
12.7. Automated Guided Vehicle – APAC Segment Research
12.8. APAC Market Research (Market Size -$Million / $Billion)
12.8.1. Segment type Size and Market Size Analysis
12.8.2. Revenue and Trends
12.8.3. Application Revenue and Trends by type of Application
12.8.4. Company Revenue and Product Analysis
12.8.5. APAC Segment – Product type and Application Market Size
12.8.5.1. China
12.8.5.2. Australia
12.8.5.3. Japan
12.8.5.4. South Korea
12.8.5.5. India
12.8.5.6. Taiwan
12.8.5.7. Malaysia
13. Automated Guided Vehicle Market - Entropy
13.1. New product launches
13.2. M&A's, collaborations, JVs and partnerships
14. Automated Guided Vehicle Market – Industry / Segment Competition landscape Premium
14.1. Market Share Analysis
14.1.1. Market Share by Country- Top companies
14.1.2. Market Share by Region- Top 10 companies
14.1.3. Market Share by type of Application – Top 10 companies
14.1.4. Market Share by type of Product / Product category- Top 10 companies
14.1.5. Market Share at global level- Top 10 companies
14.1.6. Best Practices for companies
15. Automated Guided Vehicle Market – Key Company List by Country Premium
16. Automated Guided Vehicle Market Company Analysis
16.1. Market Share, Company Revenue, Products, M&A, Developments
16.2. ABB Ltd.
16.3. Siemens AG
16.4. Doerfer Corporation
16.5. Egemin Automation Inc.
16.6. Rockwell Automation, Inc.
16.7. Mitsubishi Corporation
16.8. Swisslog Holding AG(KUKA AG)
16.9. America In Motion, Inc.
16.10. SSI Schaefer
16.11. Transbotics, Inc
16.12. Kiva Systems, Inc.
16.13. KAMAG Transporttechnik GmbH & Co.
16.14. NDC Automation Pty., Ltd.
16.15. Komatsu Ltd.
16.16. John Bean Technologies Corporation
16.17. AGV Electronics Engelbert and Jarl AB
16.18. Seegrid Corporation
16.19. DS Automation GmbH
16.20. Ward Systems Inc.
16.21. KMH Systems Inc.
16.22. Company 21
16.23. Company 22
16.24. Company 23 and more
17. Automated Guided Vehicle Market - Appendix
17.1. Abbreviations
17.2. Sources
18. Automated Guided Vehicle Market - Methodology
18.1. Research Methodology
18.1.1. Company Expert Interviews
18.1.2. Industry Databases
18.1.3. Associations
18.1.4. Company News
18.1.5. Company Annual Reports
18.1.6. Application Trends
18.1.7. New Products and Product database
18.1.8. Company Transcripts
18.1.9. R&D Trends
18.1.10. Key Opinion Leaders Interviews
18.1.11. Supply and Demand Trends