Automated Guided Vehicle Market to Reach $9.38 Billion by 2030: Millions of Insights

FELTON, Calif., January 24, 2023 /PRNewswire/ — Global Automated Guided Vehicle (AGV) Market Size Expected to Grow in Value $9.38 billion by 2030, registering a CAGR of 10.2% from 2022 to 2030. AGVs have revolutionized the way materials are transferred inside warehouses and production facilities. In industries such as heavy machinery, warehousing, automotive and manufacturing, employee safety is a major concern and AGVs reduce human intervention in tasks such as unloading, loading and storing materials. goods, thereby ensuring the safety of employees.

Key industry insights and findings from the report:

  • By vehicle type, the towing vehicle segment captured a significant revenue share of over 40% in 2021.
  • Based on navigation technology, the laser guidance segment dominated the AGV market in 2021 and is expected to remain the fastest growing segment with a CAGR of 17.4% during the forecast period.
  • The Asia Pacific The region is expected to become the fastest growing region by 2030, with a CAGR of 11.2%, and can be attributed to the expansion of the e-commerce sector in China and India.

Read the full 213-page market research report for more insights, “Automated Guided Vehicles Market Size, Share and Trend Analysis Report by Vehicle Type, by Navigation Technology, by Application, By End-Use Industry, By Component, By Battery Type and Segment Forecast From 2022 To 2030,” published by Million Insights.

Automated Guided Vehicle (AGV) Market Growth and Trends

Advanced technologies such as big data and machine learning have allowed companies to have connected factories and enabled the adoption of automated material handling systems. This facilitated efficient labor management, flexible production processes, and better product quality control. Additionally, the e-commerce industry is booming and efficient material handling has become a vital part of the operations of e-commerce giants including Amazon, Alibaba, and Walmart, among many others. Thus, the emergence of a large e-commerce industry and subsequent adoption of automated material handling systems is propelling the growth of the AGV market.

Lead-acid batteries are gradually giving way to lithium-ion batteries in the AGV market. Compared to lead-acid batteries, lithium-ion batteries offer a number of advantages. They weigh less and are smaller than their counterparts. Plus, they allow for more charge cycles, longer run times, and faster charging. Additionally, AGVs powered by lithium-ion batteries can provide higher round-trip efficiency. For example, Nissan Motor Co., Ltd., a major manufacturer of cars, buses and trucks, recently announced that it uses lithium-ion batteries to power its self-driving guided vehicles and does not require human intervention. These batteries extend the life of the AGVs.

Automated Guided Vehicles Market Segmentation

Million Insights has segmented the global Automated Guided Vehicles (AGV) market on the basis of vehicle type, navigation technology, application, end-use industry, component, battery type, and the region :

Automated Guided Vehicles Market – Type of Outlook (Revenue, USD Million, 2017-2030)

  • towing vehicle
  • Unit load support
  • pallet truck
  • Forklift
  • Hybrid vehicles
  • Others

Automated Guided Vehicles Market – Navigation Technology Outlook (Revenue, USD Million, 2017-2030)

  • Laser guidance
  • Magnetic guide
  • Visual guidance
  • Inductive guidance
  • Natural navigation
  • Others

Automated Guided Vehicle Market – Application Outlook (Revenue, USD Million, 2017 – 2030)

  • Logistics and Warehousing
    • Transportation
    • Cold room
    • Big distribution
    • Cross docking
  • Assembly
  • Packaging
  • Loading and unloading the trailer
  • Handling of raw materials
  • Others

Automated Guided Vehicles Market – End-Use Industry Outlook (Revenue, USD Million, 2017-2030)

  • Manufacturing sector
    • Automotive
    • Aerospace
    • Electronic
    • Chemical
    • Medications
    • Plastics
    • Defense
    • FMCG
    • Fabric
    • Others
  • Wholesale and distribution sector
    • E-commerce
    • Retail chains/carry shops
    • grocery stores
    • Hotels and restaurants

Automated Guided Vehicles Market – Component Outlook (Revenue, USD Million, 2017 – 2030)

  • Material
  • Software
  • A service

Automated Guided Vehicles Market – Battery Type Outlook (Revenue, USD Million, 2017 – 2030)

  • lead acid battery
  • Lithium ion battery
  • Nickel base battery
  • Others

Automated Guided Vehicles Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)

  • North America
  • Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • South America
  • Middle East and Africa (MEANING)

List of Automated Guided Vehicles Market Key Players

  • Swisslog Holding AG
  • Egemin Automation Inc.
  • Bastien Solutions, Inc.
  • Daifuku Co., Ltd.
  • Dematic
  • JBT
  • Seegrid Company
  • Hyster-Yale Materials Handling, Inc.
  • E&K Automation GmbH
  • Hello
  • KMH Fleet Solutions
  • Fetch Robotics, Inc.
  • inVia Robotics, Inc.
  • Robotics Locus
  • Schäfer Systems International, Inc.
  • Spa Logistics System
  • Transbotics (a division of Scott Systems International Incorporated)

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