The report provides comprehensive information on the global Automated Guided Vehicle market, including key market trends, segmentation, and competitive landscape. The market is segmented by type, navigation technology, application, and industry, covering regions such as North America, Europe, Asia-Pacific, the Middle East and Africa, Latin America, and the Rest of the World. The major players in the market include Oceaneering International Inc., Toyota Advanced Logistics, Daifuku Co., Ltd., KION GROUP AG, and others. The report also highlights the customization options available to clients. Contrive Datum Insights, the author of the report, is a global delivery partner of market intelligence and consulting services to various sectors. The company aims to assist investment communities, business executives, and IT professionals in making accurate decisions based on statistics and advancing strong growth tactics.
Automated Guided Vehicles Market Expected to Reach USD 4.11 Billion by 2030
Contrive Datum Insights recently published a market research study on the Automated Guided Vehicles (AGV) Market. The study projects that the market will grow at a Compound Annual Growth Rate (CAGR) of 9.6% during the forecast period from 2023 to 2030. The market is expected to grow from USD 2.17 billion in 2022 to USD 4.11 billion by 2030.
AGV systems are becoming more popular in factories, warehouses, and distribution centers. They help move and transport items without the need for permanent conveying systems or human help. Premium AGVs follow a configurable guided path to optimize storage, picking, and transport. Companies are increasingly using AGVs because they offer many benefits, including lower labor costs, less product damage, higher productivity, and support for automated processes.
The European region dominated the market in 2021, accounting for over 31% of the market share. Companies such as AUDI AG are already using AGVs in their manufacturing centers. AGVs help plan the production process, track parts inventory, and ensure safe and secure transport of goods.
The increasing demand for automation in the transportation and logistics sector is driving the growth of the AGV market. The market is expected to continue growing at a significant rate over the forecast period.
Request Sample Copy of Report on Automated Guided Vehicles Market
Contrive Datum Insights recently published a market research study on the Automated Guided Vehicles (AGV) Market, which includes a comprehensive estimation report of the market’s size, share, and trends. The report covers the period from 2022 to 2030 and provides insights into the market based on type, navigation technology, application, industry, and region.
Strategic Developments
Several key players in the AGV market have made strategic developments to improve their material handling systems and increase automation.
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In March 2021, Toyota Industries partnered with All Nippon Airways (ANA) to test Japan’s first autonomous tow tractor at Saga Airport. The tow tractor uses 2D/3D LiDAR sensors to detect obstacles and automatically adjust its path.
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In February 2021, Daifuku partnered with AFT Industries, a German-based automation and conveyor technology company, to improve material handling systems for the automotive industry.
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In April 2020, EK Robotics launched the VARIO MOVE transport vehicle, which has a flexible drive unit that can be equipped with various load handling attachments.
Regional Outlook
In 2021, the European region dominated the AGV market, accounting for over 31% of the market’s revenue. The market is expected to continue growing in this region due to the increasing demand for material handling equipment and automation in all fields. For instance, in January 2022, PUMA SE announced that it would add more automated robots to its distribution center to save on labor costs, increase productivity, and improve order fulfillment.
The AGV market is expected to grow at a CAGR of 9.6% during the forecast period from 2023 to 2030, with the market expected to reach USD 4.11 billion by 2030. Companies are increasingly using AGVs to improve operational efficiency, reduce labor costs, and minimize product damage. The market is segmented by type, navigation technology, application, industry, and region, and the report provides a comprehensive overview of the market’s trends and projections.
Asia-Pacific Region is expected to grow at the fastest CAGR of 11.2% by 2030
The Asia-Pacific region is projected to grow at a faster rate, with a CAGR of 11.2% during the forecast period, due to the growing e-commerce industry in emerging economies like China and India. The region witnessed a surge in the demand for automation machinery, with the release of the CASUN intelligent robot “Little Giant” in October 2021 by Shenzhen Casun Intelligent Robot Co., Ltd. The robot helps AGVs to load and unload goods in and out of warehouses in different industries with the help of CASUN’s self-placement intelligent control. The growing e-commerce industry in the region is also attracting many e-commerce companies to invest in these markets.
Market Scope and Dynamics
The Automated Guided Vehicles Market is expected to grow at a CAGR of 9.6% from 2023 to 2030, with revenue expected to reach USD 4.11 Billion by 2030, according to a market research study by Contrive Datum Insights. The market is segmented by type into Tow Vehicles, Automated Forklift Trucks, Underride/Tunneling Vehicles, Assembly Line Vehicles, and Others. Based on navigation technology, the market is segmented into Laser Guided, Magnetic Guided, Vision Guided, and Others. The application segment includes Transportation & Distribution, Storage & Assembly, Packaging, and Others, while the industry segment includes Automotive, Food & Beverage, E-commerce, and Others.
The market’s growth is attributed to the AGVs’ ability to help move and transport items in factories, warehouses, and distribution centers without permanent conveying systems or human help. The report also notes that AGVs are becoming more popular, especially premium AGVs, because of their benefits, such as lower labor costs, less product damage, higher productivity, and the ability to support automated processes.
Companies and Regions Covered
The report covers the global Automated Guided Vehicles Market, including regions such as North America, Europe, Asia-Pacific, the Middle East & Africa, Latin America, and the Rest of the World. The report includes companies such as Oceaneering International Inc., Toyota Advanced Logistics, Daifuku Co., Ltd., KION GROUP AG, Hyster-Yale Materials Handling, Inc., JBT, Mitsubishi Caterpillar Forklift America Inc., Crown Equipment Corporation, Seegrid Corporation, E&K Automation GmbH, HIT Robot Group, Swisslog Holding AG, Bastian Solutions, Inc., Dematic, BALYO, and KMH Fleet Solutions.
Market Drivers
One of the main drivers for the Automated Guided Vehicles Market is employee safety, especially in industries such as logistics and warehousing, manufacturing, metal and heavy machinery, and the auto industry, where workers are exposed to dangerous environments. AGVs help make these jobs safer by reducing the need for manual labor and minimizing the risks associated with human error.
AGVs in Industry: Making Workplaces Safer and More Efficient
Automated Guided Vehicles (AGVs) are gaining popularity in the industry as a way to make workplaces safer and more efficient. These vehicles can move materials quickly and lift heavier weights, reducing the risk of accidents and cutting down on downtime. As more companies learn about their benefits, more and more are putting AGVs in their warehouses.
Restraint: Logistics in E-commerce and Retail
Logistics plays a critical role in the e-commerce and retail industries, and companies are turning to automated material handling equipment to improve operational efficiency. Mobile robots are increasingly being used as self-driving logistics vehicles for tasks that take place inside. However, traditional AGVs and other automated solutions may still have an advantage in certain areas, such as adaptability to changing product types and speeds.
Opportunities: AGVs for Small and Medium-sized Enterprises (SMEs)
While the initial investment in AGV technology can be high, these vehicles help small and medium-sized businesses (SMEs) become more competitive and improve their productivity, efficiency, and profits in a big way. Many SMEs have started to invest in AGVs to make them more competitive on the global market. AGVs are expected to be used by SMEs in industries such as e-commerce, automotive, food and beverage, pharmaceutical, and chemical in the next few years.
Market Forecast:
According to a report by Contrive Datum Insights, the global AGV market is projected to grow at a CAGR of 9.6% from 2023 to 2030, with a forecasted revenue of USD 4.11 billion by 2030. The Asia-Pacific region is expected to see the fastest growth, with a CAGR of 11.2%, driven by emerging economies such as China and India, where the e-commerce business is rapidly growing.
Strategic Developments:
Several companies have made strategic developments in the AGV market. For example, in March 2021, Toyota Industries partnered with All Nippon Airways (ANA) to test Japan’s first autonomous tow tractor at Saga Airport. In February 2021, Daifuku partnered with AFT Industries, a German-based automation and conveyor technology company, to improve material handling systems for the automotive industry. In April 2020, EK Robotics launched the VARIO MOVE transport vehicle, a flexible drive unit that can be equipped with various load handling attachments via a universal interface.
Market Segments:
The AGV market is segmented by type, navigation technology, application, industry, and region. The types of AGVs include Tow Vehicles, Automated Forklift Trucks, Underride/Tunneling Vehicles, Assembly Line Vehicles, and Others. Navigation technology options include Laser Guided, Magnetic Guided, Vision Guided, and Others. Applications for AGVs include Transportation & Distribution, Storage & Assembly, Packaging, and Others. The industries using AGVs include Automotive, Food & Beverage, E-commerce, and Others. The report also covers top market players such as Oceaneering International Inc., Toyota Advanced Logistics, Daifuku Co., Ltd., and KION GROUP AG. The regions covered in the report are North America, Europe, Asia-Pacific, the Middle East & Africa, Latin America, and Rest of the World.
In conclusion, AGVs are becoming an increasingly popular solution for businesses looking to make their workplaces safer and more efficient. With the market projected to continue growing and SMEs increasingly investing in AGV technology, it is clear that these vehicles will continue to play a significant role in the industry for years to come.
This report by Contrive Datum Insights covers the top companies and segments of the automated guided vehicle (AGV) market. The market is segmented by type, navigation technology, application, and industry, and the report covers regions and countries worldwide.
Top Market Players:
The top companies in the AGV market include Oceaneering International Inc. (U.S.), Toyota Advanced Logistics (Japan), Daifuku Co., Ltd. (Japan), KION GROUP AG (Germany), Hyster-Yale Materials Handling, Inc. (U.S.), JBT (U.S.), Mitsubishi Caterpillar Forklift America Inc. (U.S.), Crown Equipment Corporation (U.S.), Seegrid Corporation (U.S.), E&K Automation GmbH (Germany), HIT Robot Group (China), Swisslog Holding AG (Switzerland), Bastian Solutions, Inc., (U.S.), Dematic (U.S.), BALYO (France), KMH Fleet Solutions (U.S.), and others.
By Type:
The AGV market is segmented by type into tow vehicles, automated forklift trucks, underride/tunneling vehicles, assembly line vehicles, and others such as unit load carriers.
By Navigation Technology:
The market is segmented by navigation technology into laser-guided, magnetic-guided, vision-guided, and others such as wire-guided.
By Application:
The AGV market is segmented by application into transportation and distribution, storage and assembly, and packaging.
By Industry:
The AGV market is segmented by industry into automotive, food and beverage, e-commerce, and others.
Regions and Countries Covered:
The report covers regions and countries worldwide, including North America (US, Canada, Mexico, Rest of North America), Europe (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific), The Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East and Africa), Latin America (Brazil, Argentina, Rest of Latin America), and the Rest of the World.
The global AGV market is expected to grow at a CAGR of 9.6% from 2023 to 2030, with a revenue forecast of USD 4.11 billion by 2030. The Asia-Pacific region is expected to grow at the fastest CAGR of 11.2% during this time frame due to the rapid growth of the e-commerce business in emerging economies such as China and India. The report also highlights the opportunities for small and medium-sized enterprises (SMEs) to improve their productivity, efficiency, and profits by investing in AGVs.
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors. CDI provides accurate decisions on technology purchases and helps advance strong growth tactics to sustain market competitiveness. The team comprises of more than 100 analysts and cumulative market experience of more than 200 years, guaranteeing the delivery of industry knowledge combined with global and country-level expertise. The report can be customized as per client needs or requirements. For any queries, clients can contact CDI via email at [email protected] or phone at +1 215-297-4078.
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