Automated Guided Vehicle Market Trends and Forecast
The future of the global automated guided vehicle market looks promising with opportunities in the automotive, manufacturing, food & beverage, aerospace, healthcare, logistic, and retail markets. The global automated guided vehicle market is expected to grow with a CAGR of 9.7% from 2024 to 2030. The major drivers for this market are e-commerce growth and the need for efficient warehouse operations, technological advancements in autonomous navigation systems, artificial intelligence (AI), and machine learning, and growing adoption of industry 4.0 principles, including automation, digitalization, and IoT integration.
• Lucintel forecasts that tow vehicles will remain the largest segment over the forecast period.
• Within this market, manufacturing will remain the largest segment.
• North America will remain the largest region over the forecast period.
Country Wise Outlook for the Automated Guided Vehicle Market
• United States: Amazon announced plans to deploy more than 75,000 AGVs in its fulfillment centers by 2024, aiming to improve operational efficiency and meet growing e-commerce demands.
• Germany: Volkswagen Group announced a partnership with KUKA Robotics to deploy AGVs in its factories, targeting increased production efficiency and flexibility in automotive manufacturing.
• China: JD.com unveiled plans to expand its AGV fleet to 200,000 units, supported by government initiatives promoting automation in logistics to enhance supply chain efficiency.
• Japan: Toyota Industries Corporation introduced new AGV models with advanced autonomous navigation and AI capabilities, targeting improved productivity and safety in manufacturing and logistics operations.
• South Korea: Hyundai Robotics partnered with local manufacturers to develop AGV solutions for smart factories, aligning with government strategies to enhance industrial automation and competitiveness in global markets.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Automated Guided Vehicle Market by Segment
The study includes a forecast for the global automated guided vehicle market by type, navigation technology, application, end use, and region.
Automated Guided Vehicle Market by Type [Value from 2018 to 2030]:
• Tow Vehicles
• Unit Load Carriers
• Pallet Trucks
• Assembly Line Vehicles
• Forklift Trucks
Automated Guided Vehicle Market by Navigation Technology [Value from 2018 to 2030]:
• Laser Guidance
• Magnetic Guidance
• Inductive Guidance
• Optical Tape Guidance
• Vision Guidance
• Others
Automated Guided Vehicle Market by Application [Value from 2018 to 2030]:
• Transportation
• Distribution
• Storage
• Assembly
• Packaging
• Waste Handling
Automated Guided Vehicle Market by End Use [Value from 2018 to 2030]:
• Automotive
• Manufacturing
• Food & Beverages
• Aerospace
• Healthcare
• Logistics
• Retail
• Others
Automated Guided Vehicle Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Automated Guided Vehicle Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automated guided vehicle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automated guided vehicle companies profiled in this report include-
• Swisslog Holding
• Egemin Automation
• Bastian Solutions
• Daifuku
• Dematic
• JBT
• Seegrid Corporation
• BALYO
• E&K Automation GmbH
• Kollmorgen
Recent Development in the Automated Guided Vehicle Market
• Amazon: Amazon is expanding its fleet of AGVs in fulfillment centers worldwide to over 75,000 units by 2024. This initiative aims to optimize warehouse operations, improve order fulfillment efficiency, and meet the increasing demand from e-commerce customers.
• Volkswagen Group (in partnership with KUKA Robotics): Volkswagen Group partnered with KUKA Robotics to integrate AGVs into its manufacturing facilities. The collaboration focuses on enhancing production efficiency, flexibility, and automation in VolkswagenÄX%$%Xs automotive assembly lines to meet global market demands.
• JD.com: JD.com, a leading Chinese e-commerce company, is scaling up its AGV fleet to 200,000 units. This expansion is part of JD.comÄX%$%Xs strategy to enhance logistics automation and efficiency in its vast network of warehouses and distribution centers, supported by government initiatives promoting smart logistics.
• Toyota Industries Corporation: Toyota Industries Corporation introduced new AGV models equipped with advanced autonomous navigation and artificial intelligence capabilities. These AGVs are designed to enhance operational productivity, safety, and flexibility in manufacturing and logistics environments, aligning with ToyotaÄX%$%Xs commitment to innovation in automated technologies.
• Hyundai Robotics: Hyundai Robotics collaborated with local manufacturers to develop AGV solutions tailored for smart factories. This initiative supports South KoreaÄX%$%Xs industrial automation goals and aims to improve manufacturing efficiency, reduce operational costs, and enhance competitiveness in global markets.
Features of the Global Automated Guided Vehicle Market
Market Size Estimates: Automated guided vehicle market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Automated guided vehicle market size by various segments, such as type, navigation technology, application, end use, and region in terms of value ($B).
Regional Analysis: Automated guided vehicle market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, navigation technology, applications, end uses, and regions for the automated guided vehicle market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the automated guided vehicle market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for automated guided vehicle market?
Answer: The global automated guided vehicle market is expected to grow with a CAGR of 9.7% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the automated guided vehicle market?
Answer: The major drivers for this market are e-commerce growth and the need for efficient warehouse operations, technological advancements in autonomous navigation systems, artificial intelligence (AI), and machine learning, and growing adoption of industry 4.0 principles, including automation, digitalization, and IoT integration.
Q3. What are the major segments for automated guided vehicle market?
Answer: The future of the automated guided vehicle market looks promising with opportunities in the automotive, manufacturing, food & beverage, aerospace, healthcare, logistic, and retail markets.
Q4. Who are the key automated guided vehicle market companies?
Answer: Some of the key automated guided vehicle companies are as follows:
• Swisslog Holding
• Egemin Automation
• Bastian Solutions
• Daifuku
• Dematic
• JBT
• Seegrid Corporation
• BALYO
• E&K Automation GmbH
• Kollmorgen
Q5. Which automated guided vehicle market segment will be the largest in future?
Answer: Lucintel forecasts that tow vehicles will remain the largest segment over the forecast period.
Q6. In automated guided vehicle market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automated guided vehicle market by type (tow vehicles, unit load carriers, pallet trucks, assembly line vehicles, and forklift trucks), navigation technology (laser guidance, magnetic guidance, inductive guidance, optical tape guidance, vision guidance, and others), application (transportation, distribution, storage, assembly, packaging, and waste handling), end use (automotive, manufacturing, food & beverages, aerospace, healthcare, logistics, retail, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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