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Automated Guided Vehicle Market is predicted to reach USD 3.39 billion at a CAGR of 7.50% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the “Global Automated Guided Vehicle Market” that contains information from 2022 to 2030. The Automated Guided Vehicle Market is estimated to register a CAGR of 7.50% during the forecast period of 2022 to 2030.


MRFR recognizes the following companies as the key players in the Automated Guided Vehicle Market— Swisslog Holding AG, Dematic, Bastian Solutions Inc., Daifuku Co. Ltd., JBT, Seegrid Corporation, and Toyota Industries Corporation.


Market Highlights


The Automated Guided Vehicle Market is accounted to register a CAGR of 7.50% during the forecast period and is estimated to reach USD 3.39 Billion by 2032.


The Automated Guided Vehicle (AGV) market refers to the industry involved in the design, manufacturing, and deployment of self-guided vehicles that are used to move materials, components, and products within various industrial and commercial environments.


The AGV market has been growing steadily due to the increasing emphasis on automation, efficiency improvement, and cost reduction in industrial and commercial operations. As technology continues to advance, AGVs are likely to become even more sophisticated, potentially incorporating artificial intelligence and advanced sensor systems to further enhance their capabilities and versatility.


Segment Analysis


The Automated Guided Vehicle Market has been segmented based on technology, application and end use.


On the basis of technology, the market is segmented into Magnetic Guidance, Vision Guidance, Inductive Guidance and Natural Navigation. The vision segment had a prominent share in 2021. The ability of AGVs to better evaluate their surroundings in real-time, made possible by computer vision and related software developments.


Based on application, the market has been segmented into Transportation, Cold Storage, Wholesale & Distribution, Cross-docking and logistics and warehousing. The logistics and warehousing segment had a prominent share in 2021. To maintain their competitiveness, logistics and warehousing companies choose taller racks, condensed designs, and small lanes for their distribution facilities.


Based on end use, the market has been segmented into manufacturing sector, Automotive, Aerospace, Electronics and Chemical. The manufacturing segment had a prominent share in 2021. In a manufacturing or distribution facility, operators may make mistakes that result in accidents and disasters. Still, AGVs can help by increasing workflow precision, reducing waste, and increasing productivity.


Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automated Guided Vehicle Market Research Report


Regional Analysis


The Automated Guided Vehicle Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Automated Guided Vehicle Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Automated Guided Vehicle Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Automated Guided Vehicle Market comprises of Middle East, Africa, and Latin America.


North America, particularly the United States, has been a prominent market for AGVs due to the high level of industrial automation and the adoption of advanced technologies. The focus on reducing labor costs, improving operational efficiency, and ensuring workplace safety has contributed to the growth of the AGV market in this region.


European countries, such as Germany, France, and the United Kingdom, have been at the forefront of industrial automation. The strong presence of manufacturing industries, along with stringent regulations related to workplace safety, has fueled the demand for AGVs in Europe.


The Asia-Pacific region, led by countries like China, Japan, and South Korea, has seen significant growth in the AGV market. China's rapid industrialization, booming e-commerce sector, and increasing adoption of automation in various industries have contributed to the expansion of AGV deployments.


Furthermore, the rest of the world's Automated Guided Vehicle Market is divided into the Middle East, Africa, and Latin America. While the AGV market in Latin America is comparatively smaller than in other regions, there has been a growing interest in automation and AGVs in countries like Brazil and Mexico.


Key Findings of the Study



  • The Automated Guided Vehicle Market is expected to reach USD 3.39 Billion by 2030, at a CAGR of 7.50% during the forecast period.

  • European have been at the forefront of industrial automation. The strong presence of manufacturing industries, along with stringent regulations related to workplace safety, has fueled the demand for AGVs in Europe.

  • Based on application, the market has been segmented into Transportation and logistics and warehousing to holding the largest market in 2022.

  • Swisslog Holding AG, Dematic, Bastian Solutions Inc., Daifuku Co. Ltd., JBT, Seegrid Corporation, and Toyota Industries Corporation.


 

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Report details
Companies Covered 15
Pages 136
Certified Global Research Member
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