Automated Guided Vehicle Market By Vehicle Type (Tow, Unit Load Carrier, Pallet Truck, Forklift Truck, Hybrid Vehicles), Navigation Technology (Laser, Magnetic, Vision, Inductive, Natural Navigation), Application (Logistics and Warehousing, Transportation, Cold Storage, Wholesale & Distribution, Cross-docking, Assembly, Packaging, Trailer Loading & Unloading, Raw Material Handling), End-use Industry, Component (Hardware, Software, Service), Battery Type (Lead, Lithium-Ion, Nickel-based), & Region — Forecast 2030

Automated Guided Vehicle Market Research Overview (MRFR Insights)

The global automated guided vehicle market share reached approximately USD 3.39 billion, registering at a CAGR of 7.50% from 2022 to 2030. Automated guided vehicles are robotic material handlers programmed to transport pallets, carts, trays, and other items between various manufacturing and storage locations. These facilities put them in place to improve efficiency, which leads to more output and a rise in the company's profit margin. Nowadays, businesses tend to emphasize efficiency more than without the need for a permanent conveying system or user interaction; AGV systems assist in moving and carrying goods in industrial facilities, warehouses, and distribution centers. Due to several benefits, such as lower labor costs, less product damage, increased productivity, and the capacity to expand to accommodate automated operations, AGVs are frequently employed. Thus, all these factors are driving the automated guided vehicle market growth.

AGV Industry Recent Developments:

Dematic has introduced its newest automated guided vehicles (AGVs), specifically designed for freezer environments. The third-generation model incorporates advancements in sensor and navigation technology that surpass recently updated global safety standards. Manufactured in Australia, Dematic's comprehensive range of AGVs, encompassing high-reach and counterbalance models, now holds certification for deployment in freezer conditions. In addressing the intricate challenges faced by food & beverage and grocery supply chains managing cold storage facilities, AGVs offer a solution to both the complexities of these operations and the challenges associated with labor sourcing.

June 2023 – A prominent global producer of autonomous mobile robots (AMRs) and automated guided vehicles (AGVs), Kivnon, has disclosed that a leading industrial solutions provider, TAP, will be distributing Kivnon automated guided vehicles (AGVs and AMRs.) Kivnon designs and implements automated guided vehicles (AGVs/AMRs) for various markets, including aerospace, food, automotive, and retail applications. Its products include tractor AGVs that pull carts; mouse AGV platforms that slide under and lift pallets; small AGVs for lab use; and self-driving forklifts. Kivnon has announced a collaboration with TAP to leverage heightened AGV/AMR interest resulting from Industry 4.0-driven digital transformation. Jose Pantaleao, Kivnon's France Country Manager, said the partnership signifies a significant milestone for both companies. Crediting to TAP's influence and automation expertise, the company is set to supply autonomous vehicles to a larger audience with full confidence that TAP will deploy them to take full advantage of their automation potential.

June 2023- Jungheinrich and Mitsubishi Logisnext Americas will grow their joint venture for mobile automation solutions in North America, introducing a company called Rocrich AGV Solutions. The name "Rocrich" consolidates the brand names and the product catalogs of the Rocla and Jungheinrich automated guided vehicle (AGV) portfolios in the North American regional market. 

July 2023- WFL Millturn Technologies are set to offer two turning-boring-milling machines at EMO: the M50 Millturn / 3,000 mm and the M80X Millturn / 4,500 mm. Sightseers can undergo the M80X live with a determination of the machining of a gear shaft, involving measurement of the gear teeth. Both machines include a new design and are equipped with Sinumerik One. The M80X Millturn, with a 1,000 mm turning diameter and 4,500 mm machining length, has a grinding attachment and a vibration-damped Silent Tools Plus boring bar.

COVID-19 Impact Analysis on AGV’s Industry

Nearly every business worldwide has experienced economic hardship as a result of the COVID - 19 outbreaks. Due to the global lockdown imposed by governments to stop the spread of the epidemic, many organizations have already incurred losses or are experiencing losses due to a production gap. The epidemic has significantly reduced the manufacturing sector's earnings and revenue. Small and medium-sized businesses, or SMEs, have been most hit by significant layoffs, financial difficulties, and attrition. Due to the pandemic's ability to keep industries operating, there are several global chances for the AGV industry.

Global Automated Guided Vehicle Market Dynamics

As per the market report, the automated guided vehicles are used by many industries, creating new potential for business expansion. The market has various opportunities to grow due to the development of new technologies and procedures to reduce man-handling in many sectors. Installment challenges and complicated usage represent a formidable market obstacle. Therefore, during the automated guided vehicle market forecast period, these factors are anticipated to fuel the global market expansion.

Automated Guided Vehicle Market Key Drivers

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  Rising focus on improving workplace safety

  
  

Employee safety is of utmost importance in many industries, including manufacturing, metals & heavy machinery, automotive, and logistics & warehousing, because workers must perform potentially hazardous tasks and operate equipment in hazardous conditions. Most industries still rely on people to do dangerous physical operations, including loading, unloading, storing, and moving items. AGVs guarantee fewer accidents and increased worker safety. Businesses are putting more effort into enhancing workplace safety to decrease accidents and downtime & boost productivity.

Market Key Restraints:

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  Increasing preference for mobile robots over AGVs in retail and e-commerce industries

  
  

The retail and e-commerce sectors rely heavily on the logistics industry for efficient operations. Businesses in the retail and e-commerce sectors are choosing automated material handling technology to increase their operational effectiveness. Mobile robots are used by businesses in the e-commerce sector to automate warehouse tasks. The e-commerce and retail sectors deploy mobile robots as self-driving logistics vehicles for indoor operations.

Market Key Opportunities:

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  Growing adoption of industrial automation by SMEs

  
  

Depending on the incorporated battery type and maritime technology, AGV solutions have a high initial cost. Due to their high initial costs, small and medium-sized enterprises (SMEs) find it challenging to employ automation technologies for material handling; most large-scale firms can afford these technologies. The expansion and profitability of these SMEs are help them to adopt AGV technology with time. Because automation enables SMEs to compete globally with larger market players, they are shifting toward automated warehouse operations despite costly initial capital requirements.

Automated Guided Vehicle (AGV's) Market Segment Overview

Outlook By Vehicle Type

The global automated guided vehicle market segmentation, based on vehicle type, is tow vehicles, unit load carriers, pallet trucks, forklift trucks, hybrid vehicles, and others. The global automated guided vehicle market growth was prominently high under the unit load carriers category in 2021. Unit load AGVs deliver pallets, huge containers, and rolls. Lessening aisle traffic and product damage also makes it possible to schedule the job effectively.

Outlook By Navigation Technology

The global automated guided vehicle market segmentation, based on navigation technology is laser, magnetic, vision, inductive, natural navigation, and others. 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, is increasing demand for AGVs for operations in difficult conditions, like navigating large components down small aisles.  

Outlook By Application

Based on the application, the global automated guided vehicle market is divided into logistics and warehousing, transportation, cold storage, wholesale & distribution, cross-docking, packaging, assembly, trailer loading and unloading, raw material handling, and others. 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.

Outlook By End-use Industry

Based on the end-use industry, the global automated guided vehicle market is divided into the manufacturing sector, automotive, aerospace, electronics, chemical, pharmaceuticals, plastics, defense, FMCG, tissue, and others. The manufacturing segment had a prominent share in 2021. AGVs have cameras, laser heads, and other sensors that enable safe operation around equipment, buildings, and people. 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.

Outlook By Component

Based on the component, the global automated guided vehicle market is divided into hardware, software, and service. The hardware segment had a prominent share in 2021. The highest market share for hardware has been attributed to the availability of various hardware solutions in these vehicles, including cobots, material handling machinery, gearheads, and actuators, among others.

Outlook By Battery Type

Based on the battery type, the global automated guided vehicle market is divided into lead, lithium-ion, nickel-based, and others. The lead battery segment had a prominent share in 2021. Comparing these batteries to other battery kinds, they are cheaper. In addition, it has a long service life, stable voltage, and good reversibility, making it appropriate for various applications. 

Global Automated Guided Vehicle Market Share, by Region, 2021 (%)

Global Automated Guided Vehicle (AGV's) Market Overview, by Region

By region, the global automated guided vehicle market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Europe accounted for the most extensive market share. Asia-Pacific is projected to exhibit the highest CAGR during the review period.

Europe Market Insights

Europe was the most extensive market share in 2021 due to the manufacturing sector's established players' rising demand for material handling equipment. The market expansion in this region has also been accelerated by automation across all industries. For instance, PUMA SE declared in January 2022 that it would deploy more automated robots equipped with grippers, cameras, and artificial intelligence. More robots would help with the distribution center's shoe and garment assembly, lower labor expenses, and boost production.

Asia-Pacific Market Insights

Asia-Pacific was anticipated to encounter the fastest growth rate in 2021. China and India are two examples of emerging economies in the Asia Pacific region where e-commerce has seen significant growth. For instance, Shenzhen Casun Intelligent Robot Co., Ltd., a manufacturer of automation machinery, introduced the CASUN Intelligent Robot "tiny giant" in October 2021. The self-deployed intelligent control of the CASUN enables the AGV to operate inside and outside the warehouse to accomplish and complete the loading and unloading tasks in various industries.

Global Automated Guided Vehicle Market Competitive Landscape

The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have global reach with diverse product portfolios. Companies such as Swisslog Holding AG; Dematic; Bastian Solutions, Inc.; Daifuku Co., Ltd.; JBT and Seegrid Corporation dominate the global market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting automated guided vehicle market research and development.

Prominent players in the global market include Swisslog Holding AG; Dematic; Bastian Solutions, Inc.; Daifuku Co., Ltd.; JBT; Seegrid Corporation; TOYOTA INDUSTRIES CORPORATION; Hyster-Yale Materials Handling, Inc.; BALYO; E&K Automation GmbH; Kollmorgen; KMH Fleet Solutions; ELETTRIC80 S.P.A.; Fetch Robotics, Inc.; inVia Robotics, Inc.; Locus Robotics; Schaefer Systems International, Inc.; System Logistics Spa; and Scott; among others.

Scope of the Global Automated Guided Vehicle Market Report

Insights By Vehicle Type

• Tow Vehicle


• Unit Load Carrier


• Pallet Truck


• Forklift Truck


• Hybrid Vehicles


• Others

Insights By Navigation Technology

• Laser Guidance


• Magnetic Guidance


• Vision Guidance


• Inductive Guidance


• Natural Navigation


• Others

Insights By Application

• Logistics and Warehousing


• Transportation


• Cold Storage


• Wholesale & Distribution


• Cross-docking


• Assembly


• Packaging


• Trailer Loading and Unloading


• Raw Material Handling


• Others

Insights By End-use Industry

• Manufacturing Sector


• Automotive


• Aerospace


• Electronics


• Chemical


• Pharmaceuticals


• Plastics


• Defense


• FMCG


• Tissue


• Others


• Wholesale and Distribution Sector


• E-commerce


• Retail Chains/Conveyance Stores


• Grocery Stores


• Hotels and Restaurants

Insights By Component

• Hardware


• Software


• Service

Insights By Battery Type

• Lead Battery


• Lithium-Ion Battery


• Nickel-based Battery


• Others

Outlook By Region

• North America




• US


• Canada


• Mexico




• Europe




• UK


• Germany


• France


• Italy


• Spain


• Rest of Europe




• Asia-Pacific




• China


• India


• Japan


• Australia and New Zealand


• Rest of Asia-Pacific




• Rest of the World




• South America


• Middle East


• Africa

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

Global Automated Guided Vehicle Market Forecast & Size:

To identify and estimate the automated guided vehicle market size for the global automated guided vehicle segmented by vehicle type, navigation technology, application, end-use industry, component & battery type by value (in US dollars). Also, to understand the consumption/ demand created by consumers of automated guided vehicle market between 2022 and 2030

Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges.

Market Influencing Factors:

To find out the factors which are affecting the sales of automated guided vehicle market among consumers

Impact of COVID-19:

To identify and understand the various factors involved in the market affected by the pandemic

Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

• Automated guided vehicle producers


• Raw material suppliers


• Retailers, wholesalers, and distributors


• Governments, associations, and industrial bodies


• Investors and Trade Experts

Report Scope:

Report Attribute/Metric	Details
Market Size	2030: USD 3.39 billion
CAGR	7.50% CAGR (2022-2030)
Base Year	2021
Forecast Period	2022-2030
Historical Data	2020
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Vehicle Type, Navigation Technology, Application, End-Use Industry, Component & Battery Type
Geographies Covered	North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
Key Vendors	Swisslog Holding AG; Dematic; Bastian Solutions, Inc.; Daifuku Co., Ltd.; JBT; Seegrid Corporation; and TOYOTA INDUSTRIES CORPORATION
Key Market Opportunities	Growing adoption of industrial automation by SMEs
Key Market Drivers	Rising focus on improving workplace safety

Frequently Asked Questions (FAQ) :