Automated Guided Vehicle Market An in-depth examination of the market, analysis, and projections until 2032

Market Size – USD 4.80 Billion in 2022, Market Growth – at a CAGR of 10.0%, Market Trends – Rising demand for smart manufacturing

According to the most recent analysis by Emergen Research, the global Automated Guided Vehicle (AGV) market size was USD 4.80 billion in 2022 and is anticipated to grow steadily at a rate of 10.0% during the projected period. The e-commerce sector's increased use of AGVs and the implementation of industry 4.0 technologies are two major drivers influencing market revenue growth.

The intensive primary and secondary research, as well as the qualitative and quantitative analysis of important market segments, led to the creation of the Automated Guided Vehicle Market study. Business professionals have additionally endorsed and confirmed the clever knowledge. The purpose of the report is to offer more information on the lead-free piezoelectric ceramic material industry's overall market environment.

In the e-commerce sector, automated guided vehicles (AGVs) are used to automate the transportation of items inside of a warehouse or fulfilment centre. An order picker can retrieve items for an order by using AGVs to move things from storage racks to packing and shipping locations. AGVs can also be used to segregate and sort products according to their destination or order type, which increases the effectiveness of the shipping process.

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Competitive Terrain:

The global Automated Guided Vehicle industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

Leading Market Players Profiled in the Report:

Swisslog Holding AG, Egemin Automation Inc., Bastian Solutions, LLC, Daifuku Co., Ltd., Dematic, JBT, Seegrid Corporation, TOYOTA INDUSTRIES CORPORATION, Hyster-Yale Materials Handling, Inc., and BALYO

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Some Key Highlights From the Report

  • The hardware segment is expected to account for largest revenue share over the forecast period. This is attributed to rising demand for advanced sensors such as Laser sensors, image sensors, and others in AGVs.
  • The tow vehicle segment accounted for largest revenue share in 2022. This is due to rising demand for small and sophisticated automated tow vehicles using software and sensors to navigate automatically.
  • The laser guidance segment accounted for largest revenue share in 2022. This can be attributed to increasing use of laser guidance systems to navigate with higher accuracy and precision.
  • The logistics and warehousing segment accounted for largest revenue share in 2022. This is due to increasing popularity of AGVs in logistics and warehousing that can be programmed to perform independently without much human intervention, which in turn, has risen demand for AGVs in logistics and warehouses.
  • The wholesale and distribution sector segment is expected to account for highest revenue share over the forecast period. Increasing popularity for new technologies such as Radio-Frequency Identification (RFID) that can be used in AGVs for inventory management.
  • The Europe market is expected to account for largest revenue share over the forecast period. This is due to increasing initiatives and conducive policies to facilitate smart manufacturing as well as support from the European Union (EU).
  • On 10 December 2020, JBT collaborated with Hyster-Yale to develop a dual-mode, double-deep pantograph reach truck. JBT provided 3D cameras and sensors that can improve accuracy, on-board automated navigation, and fleet management software for optimal efficiency to power Hyster-Dual-Mode Yale's robotic reach truck. This truck can reach a double-deep storage of up to 30 feet and can operate in both manual and automatic modes, making it the perfect choice for distribution centers and other warehouses.

Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Automated Guided Vehicle market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the Automated Guided Vehicle market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Automated Guided Vehicle market.

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Market Overview:

The report bifurcates the Automated Guided Vehicle market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

  • Component Outlook (Revenue, USD Billion; 2019-2032)
    • Hardware
    • Software
    • Service
  • Vehicle Type Outlook (Revenue, USD Billion; 2019-2032)
    • Tow Vehicle
    • Forklift Truck
    • Pallet Truck
    • Hybrid Vehicles
    • Unit Load Carrier
    • Others
  • Navigation Technology Outlook (Revenue, USD Billion; 2019-2032)
    • Laser Guidance
    • Inductive Guidance
    • Vision Guidance
    • Magnetic Guidance
    • Natural Navigation
    • Others

Regional Outlook:

  • North America (the U.S., Canada, Mexico)
  • Europe (the U.K., Germany, France, Italy)
  • Asia Pacific (India, China, Japan, Korea)
  • Latin America (Brazil, Argentina, Ecuador, Chile)
  • Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran)

Key reasons to buy the Global Automated Guided Vehicle Market report:

  1. The latest report comprehensively studies the global Automated Guided Vehicle market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
  2. The report offers an insightful analysis of the regional outlook of the market.
  3. It offers a detailed account of the end-use applications of the products services offered by this industry.
  4. The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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