Global Automated Guided Vehicle Market Size, Drivers, Trends, Opportunities And Strategies – Includes Automated Guided Vehicle Market Share
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The rising e-commerce and retail industries are expected to drive innovation in automated guided vehicle manufacturing, thus driving the market during the forecast period.
The global automated guided vehicle market is expected to grow from $4.09 billion in 2022 to $4.64 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automated guided vehicle market size is expected to reach $7.28 billion in 2027 at a CAGR of 11.9%.
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Global Automated Guided Vehicle Market Segments Include:
- By Type: Two vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks
- By Navigation Technology: Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation
- By Application: Transportation, Distribution, Storage, Assembly, Packaging, Waste handling
- By Industry: Automotive, Maufacturing, Food and Beverage, Aerospace, Healthcare, Logistics, Retail
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global automated guided vehicle market in 2021.
Major Market Players in the automated guided vehicle market include Balyo, Daifuku Co Ltd., E&K Automation GmbH, JBT Corporation, Kuka AG, Oceaneering International Inc., Seegrid Corporation, SSI Schaefer.
Technological advancement is a key trend gaining popularity in the automated guiding vehicles market. Major players are concentrating on creating innovative technologies such as the Internet of Things (IoT)-based vehicle to sustain their position in the automated guided vehicle market. IoT is about trying things together over the internet to build a network of related physical items. The aim of smart physical objects is allowing them to communicate (send/receive) data independently. For instance, in January 2020, ECA group, a France-based defense and space manufacturing company, launched Indoor/outdoor AGVs. It can simplify logistics, optimize production, and reduce expenses. ECA GROUP’s automated guided industrial vehicles are based on SLAM (Simultaneous Localization And Mapping) technology, which allows the machine to recognise its environment and modify its navigation/behavior to a particular situation while meeting the strictest safety standards.
The Automated Guided Vehicle Global Market Report 2023 provides a automated guided vehicle market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automated guided vehicle market forecast analyzes automated guided vehicle market size, automated guided vehicle market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An automated guided vehicle (AGV) is a mechanized vehicle that delivers a load through an assembly, production, or storage facility. AGVs are guided by computerised vehicles, which employ software to identify their positioning, movement, and location. This involves delivering products directly to production lines and carrying materials from receiving to the warehouse.
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