Automated Guided Vehicle Market
Automated Guided Vehicle Market Size, Share & Trends Analysis Report by Product Type (Automated Forklift, Automated Tow/Tractor/Tugs, Unit Load, Assembly Line, and Others), and By End-User Industries (Food & Beverage, Automotive, Retail, Electronics & Electrical, General Manufacturing, Pharmaceuticals, and Other End-User Industries) Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Automated guided vehicle market is anticipated to grow at a CAGR of 31.5% during the forecast period (2023-2030). The high labour costs and the growing trend of automation and robotics in several industries across the globe is driving the global automated guided vehicles market. The lack of manpower in developed countries has led to a huge need for automated guided vehicles in myriad industries. The industry 4.0 revolution is anticipated to create a paradigm shift in the global automated guided vehicle industry.
Allocation of massive funds to innovative self-driven technologies, electrification, and connectivity has benefited manufacturers and suppliers of automated guided vehicles. For instance, in May 2022, the UK Government allocated funds worth £40 million for projects that will enable services of AGVs, including automated delivery vehicles. The move is aimed at creating nearly 38,000 new jobs for skilled professionals. Continuing the trends of strategic funding and investments, VisionNav Robotics, a China-based manufacturer of industrial logistics robots, raised nearly $80 million in its Series C funding round. Reportedly, it is the highest funding for a firm in the automotive guided vehicle market.
Segmental Outlook
The global automated guided vehicle market is segmented based on product type and end-user industries. Based on product type, the market is sub-segmented into automated forklift, automated tow/tractor/tugs, unit load, assembly line, and others. Based on end-user industries, the market is sub-segmented into food & beverage, automotive, retail, electronics & electrical, general manufacturing, pharmaceuticals, and other end-user industries.
General Manufacturing Sub-Segment is Expected to Hold a Considerable Share of the Market
Among the end-user industries, general manufacturing is expected to hold a considerable share of the market. The automated guided vehicles are massively used in the general manufacturing industry owing to its capability of lifting raw material easily. The high adoption of automated guided vehicle in general industries is a key factor driving the growth of the global automated guided vehicles market.
Regional Outlook
The global automated guided vehicle market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to hold a considerable share in the global automated guided vehicle market. New product launches across the region to cater to the demand of end-user industries is a key factor contributing to the regional market growth.
For instance, in March 2023, Mitsubishi Logisnext Americas group, the distributor of Jungheinrich lift trucks, narrow-aisle and automated guided vehicles in the US, Canada, and Mexico launched its new Jungheinrich EKX 516ka / 516a Automated High-Rack Stacker. A powerful and versatile solution for high-density storage and very narrow aisle operations, the EKX 516ka / 516a boasts a fully automated, full-pallet storage and retrieval system and 24/7 operation, allowing for maximum efficiency and productivity. The European region also held considerable share in the global market due to the high demand for material handling equipments by the incumbents of manufacturing industry.
Global Automated Guided Vehicle Market Growth, by Region 2023-2030
The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Automated Guided Vehicle Market
Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. New product launches and the establishment of manufacturing facilities across the region is driving the regional market growth. For instance, in December 2021, the KION Group established a new forklift truck manufacturing in Jinan, China. Industrial vehicles from KION's Linde Material Handling and Baolibrands are likely to be constructed in the future on a 2,400,000-square-foot site, which is roughly comparable to over 31 soccer fields.
In March 2019, Indian ecommerce platform Flipkart had introduced robot-based sortation technology - Automated Guided Vehicles (AGVs) in its Bengaluru sortation centre. The AGVs at the Walmart-acquired company's Soukya sortation centre to meet its customer demands by ensuring faster delivery. According to the company, deploying 100 of these AGVs will increase the efficiency of the facility by 60 percent. This will also ensure 5x scaling of the existing 4,500 shipments that the setup does currently. Growing e-commerce industry of this region along with high application of automated guided vehicle in this industry is further driving the regional market growth.
Market Players Outlook
The major companies serving the automated guided vehicle market include KUKA Aktiengesellschaft, Jungheinrich, Murata Machinery, Ltd., Daifuku Co., Ltd, and Toyota Industries Corp. among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisition, business expansion, and partnership to stay competitive in the market. New Product launch is a key strategy to remain competitive in the marketplace. For instance, in May 2023, ResGreen Group International, Inc., a next-gen mobile robot and software solutions company, introduced bidirectional BigBuddy that uses magnetic tape to move loads up to 5,000 pounds. With this launch the company has expanded portfolio of AGVs and AMRs with its full-reversing capability, high-load capacity, and modular design.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automated guided vehicle market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. KUKA Aktiengesellschaft
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Jungheinrich
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Murata Machinery, Ltd.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Automated Guided Vehicle Market by Product Type
4.1.1. Automated Forklift
4.1.2. Automated Tow/Tractor/Tugs
4.1.3. Unit Load
4.1.4. Assembly Line
4.1.5. Others
4.2. Global Automated Guided Vehicle Market by End-User Industries
4.2.1. Food & Beverage
4.2.2. Automotive
4.2.3. Retail
4.2.4. Electronics & Electrical
4.2.5. General Manufacturing
4.2.6. Pharmaceuticals
4.2.7. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Balyo
6.2. Daifuku Co., Ltd.
6.3. Dematic Group (KION Group AG)
6.4. Egemin Automation Inc. (Quick Search, Inc.)
6.5. ek robotics GmbH
6.6. ELETTRIC80 S.P.A. (E80 GROUP SPA)
6.7. Fetch Robotics (Zebra Technologies Corp.)
6.8. Hyster-Yale Materials Handling, Inc.
6.9. inVia Robotics, Inc.
6.10. KMH Fleet SolutionsKMH Fleet Solutions, Inc.
6.11. Kollmorgen Corp.
6.12. Locus Robotics Corp.
6.13. Schaefer Systems International, Inc.
6.14. Seegrid Corp.
6.15. Swisslog Holding AG (KUKA Aktiengesellschaft)
6.16. System Logistics S.p.A.
6.17. The Bastian Solutions
6.18. Toyota Industries Corp.
6.19. Transbotics (Scott Automation a.s.)
1. GLOBAL AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
2. GLOBAL AUTOMATED GUIDED FORKLIFT MARKET IN AUTOMATED GUIDED VEHICLE RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL AUTOMATED GUIDED TOW/TRACTOR/TUGS MARKET IN AUTOMATED GUIDED VEHICLE RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL UNIT LOAD IN AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL ASSEMBLY LINE IN AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL OTHER TYPE IN AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRIES, 2022-2030 ($ MILLION)
8. GLOBAL AUTOMATED GUIDED VEHICLE FOR FOOD & BEVERAGE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL AUTOMATED GUIDED VEHICLE FOR AUTOMOTIVE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL AUTOMATED GUIDED VEHICLE FOR RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL AUTOMATED GUIDED VEHICLE FOR ELECTRONICS & RETAIL GENERAL MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL AUTOMATED GUIDED VEHICLE FOR PHARMACEUTICALS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL AUTOMATED GUIDED VEHICLE FOR OTHER END-USER INDUSTRIES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. NORTH AMERICAN AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
16. NORTH AMERICAN AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
17. NORTH AMERICAN AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRIES, 2022-2030 ($ MILLION)
18. EUROPEAN AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
19. EUROPEAN AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
20. EUROPEAN AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRIES, 2022-2030 ($ MILLION)
21. ASIA-PACIFIC AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
22. ASIA-PACIFIC AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
23. ASIA-PACIFIC AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRIES, 2022-2030 ($ MILLION)
24. REST OF THE WORLD AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
25. REST OF THE WORLD AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2022-2030 ($ MILLION)
26. REST OF THE WORLD AUTOMATED GUIDED VEHICLE MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRIES, 2022-2030 ($ MILLION)
1. GLOBAL AUTOMATED GUIDED VEHICLE MARKET SHARE BY PRODUCT TYPE, 2022 VS 2030 (%)
2. GLOBAL AUTOMATED FORKLIFT IN AUTOMATED GUIDED VEHICLE MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL AUTOMATED TOW/TRACTOR/TUGS IN AUTOMATED GUIDED VEHICLE MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL UNIT LOAD IN AUTOMATED GUIDED VEHICLE MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL ASSEMBLY LINE IN AUTOMATED GUIDED VEHICLE MARKET SHARE BY REGION, 2022 VS 2030 (%)
6. GLOBAL OTHER TYPE IN AUTOMATED GUIDED VEHICLE MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL AUTOMATED GUIDED VEHICLE MARKET SHARE BY END-USER INDUSTRIES, 2022 VS 2030 (%)
8. GLOBAL AUTOMATED GUIDED VEHICLE FOR FOOD & BEVERAGE MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL AUTOMATED GUIDED VEHICLE FOR AUTOMOTIVE MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL AUTOMATED GUIDED VEHICLE FOR RETAIL MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL AUTOMATED GUIDED VEHICLE FOR ELECTRICAL & ELECTRONICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL AUTOMATED GUIDED VEHICLE FOR GENERAL MANUFACTURING MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL AUTOMATED GUIDED VEHICLE FOR PHARMACEUTICALS MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL AUTOMATED GUIDED VEHICLE FOR OTHER APPLICATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
15. GLOBAL AUTOMATED GUIDED VEHICLE MARKET SHARE BY REGION, 2022 VS 2030 (%)
16. US AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
17. CANADA AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
18. UK AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
19. FRANCE AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
20. GERMANY AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
21. ITALY AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
22. SPAIN AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
23. REST OF EUROPE AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
24. INDIA AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
25. CHINA AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
26. JAPAN AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
27. SOUTH KOREA AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
28. REST OF ASIA-PACIFIC AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
29. REST OF THE WORLD AUTOMATED GUIDED VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
