Automated Guided Vehicles Market by Industry (Healthcare, Aerospace, Automotive), Type (Pallet Truck, Tow Vehicle), Application, Battery Type and Geography - Global Industry Analysis, Opportunities and Forecast up to 2029

Automated Guided Vehicles Market Size

The global Automated Guided Vehicles market size was valued at $4,573.46 million in 2023 and is projected to reach $8,632.31 million by 2029, growing at a CAGR of 11.2% during the forecast period. 

Automated Guided Vehicles Market Dynamics

• The automated guided vehicles market is expected to witness significant growth in the future due to increased automation across product segments and the adoption of automation technology in the healthcare industry. 

• Additionally, increasing growth in APAC, reduction in labor costs and significantly lower risk of damage, and preferred use of lithium-ion-based batteries over conventional batteries are the prominent factors driving the growth of the Automated Guided Vehicles market demand.

• However, the problems related to scheduling and routing and high capital investments are restraining the market growth.

• On the contrary, increasing demand from the automotive industry and rising demand for automation in the e-commerce industry are creating opportunities for market growth.

Automated Guided Vehicles Market Overview

Automated guided vehicles are driverless, self-operated computer-controlled vehicles that are fitted with guidance and collision avoidance systems and can move materials from one place to another, without the need for any human intervention. Reliability, durability, and ease of operation of the vehicles are the chief factors on which the quality of these vehicles depends. Automated guided vehicles help to safely transport all kinds of products without any human intervention within distribution, logistics, production, and warehouse environments, along with reducing operational costs and increasing profitability and efficiency. AGVs are capable of lifting, shifting, and rotating goods, transporting products across vast distances, storing products in deep lanes, and delivering these onto the conveyors.

By Industry, the Automotive Segment is projected to be the largest Segment in the Automated Guided Vehicles Market

The automotive segment is estimated to witness a significant growth rate in the foreseeable future. Automated Guided Vehicles provide a competitive advantage for companies in the Automotive Industry. Implementation of this technology increases the company’s productivity and flexibility. Many car modifications and customizations request correct and on-time supply. Delay or incorrect line feeding may cause fatal damages for car producers. Based on this car producers are creating a concept of supply at such a level that these conditions do not occur. The development of new technologies is also increasing requirements for software and hardware tools, which means enterprises need constant innovation in this field.

By Geography, Europe Region Holds the Dominant Position in the Market Revenue

Europe is projected to be the largest segment in the automated guided vehicles market due to the rise of manufacturing activities since the recession, increasing focus on efficiency, and productivity in the region. Further, Western European countries such as the U.K., Germany, and others are believed to be the major countries witnessing the augmented demand for automated guided vehicles. Owing to the presence of numerous vendors from different countries, the automated guided vehicles market in Europe is moderately fragmented. The leading vendors will invest significantly in developing new vehicles by adopting new technologies. Vendors have an opportunity to target countries like the UK, Germany, and France for bigger operations and revenue. German manufacturers have been the driving factors for sustaining the eurozone economy.

Some of the Key Players Profiled in the Report Include:

• Daifuku Co., Ltd
• Bastian Solutions, Inc
• Balyo
• Egemin International NV
• Elettric 80 S.P.A
• E&K Automation GmbH
• Dematic Systems GmbH
• Frog AGV Systems B.V
• JBT Corporation
• Hyster-Yale Materials Handling, Inc
• Swisslog Holding AG
• Seegrid Corporation
• Kollmorgen Corporation
• KMH Systems, Inc
• Toyota Industries Corporation

This Report Helps to:

• Gain a deeper understanding of the impact of COVID-19 on the Automated Guided Vehicles market. 
• Understand the key trends that will drive the market and, the challenges it faces in the current market scenario.
• Identify potential growth opportunities.
• Gain in-depth analysis of market segments, and regions/countries predicted to observe promising growth.
• Know the historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Industry:
• Healthcare
• Chemicals/plastics
• Aerospace
• Automotive
• Food & Beverage
• Manufacturing
• Retail
• Logistics
• Warehouse and Distribution Center
• Other Industries

Market by, Type:
• Unit Load Carrier
• Pallet Truck
• Tow Vehicle
• Assembly Line Vehicle
• Forklift Vehicles
• Clamp Vehicles
• Light Load Transporters
• Other Types

Market by, Application:
• Transportation
• Packaging
• Assembly
• Distribution
• Storage
• Other Applications

Market by, Battery Type:
• Lithium-Ion
• Lead
• Nickel-Based
• Other Battery Types

Market by, Navigation Technology:
• Laser Guidance
• Magnetic Guidance
• Natural Navigation
• Vision Guided
• Inductive Guidance
• Optical Tape Guidance
• Infra-Red Guidance
• Wire Guided
• Inertial Guided

Market by, Geography:

The Automated Guided Vehicles Market report also analyzes the major geographic regions and countries for the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (UK, Germany, Italy, France, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (Japan, China, India, Australia, New Zealand, Rest of APAC), Market Estimates, Forecast & Opportunity Analysis
• RoW (Middle East, Brazil, Argentina, South Africa, Egypt), Market Estimates, Forecast & Opportunity Analysis

Table Of Content

1 Market Overview             
    1.1 Introduction         
    1.2 Research Objectives        
    1.3 Market Segmentation        
    1.4 Stakeholders         
    1.5 List of Acronyms         
               
2 Executive Summary             
                
3 Research Methodology            
    3.1 Identification of Data        
    3.2 Evaluation of Market Dynamics       
    3.3 Collaboration of Data        
    3.4 Verification and Analysis        
    3.5 Data Sources         
    3.6 Assumptions         
               
4 Market Dynamics             
    4.1 Market Drivers         
           4.1.1 Increased Automation across Product Segments
           4.1.2 Adoption of Automation Technology in the Healthcare Industry
    4.2 Market Restraints         
           4.2.1 Problems related to Scheduling and Routing
    4.3 Market Opportunities        
           4.3.1 Increasing demand from Automotive Industry
           4.3.2 Rising demand for Automation in the E-Commerce Industry
    4.4 Market Challenges         
           4.4.1 High Capital Investments 
    4.5 Impact of COVID-19 on Automated Guided Vehicles Market     
               
5 Porter's Five Force Analysis            
    5.1 Bargaining Power of Suppliers        
    5.2 Bargaining Power of Buyers        
    5.3 Threat of New Entrants        
    5.4 Threat of Substitutes        
    5.5 Competitive Rivalry in the Market       
               
6 Global Automated Guided Vehicles Market by, Industry         
    6.1 Overview         
    6.2 Healthcare         
    6.3 Chemicals/plastics         
    6.4 Aerospace         
    6.5 Automotive         
    6.6 Food & Beverage         
    6.7 Manufacturing         
    6.8 Retail          
    6.9 Logistics           
    6.10 Warehouse and Distribution Center       
    6.11 Other Industries         
               
7 Global Automated Guided Vehicles Market by, Type         
    7.1 Overview         
    7.2 Unit Load Carrier         
    7.3 Pallet Truck          
    7.4 Tow Vehicle         
    7.5 Assembly Line Vehicle        
    7.6 Forklift Vehicles         
    7.7 Clamp Vehicles         
    7.8 Light Load Transporters        
    7.9 Other Types         
               
8 Global Automated Guided Vehicles Market by, Application         
    8.1 Overview         
    8.2 Transportation         
    8.3 Packaging         
    8.4 Assembly         
    8.5 Distribution         
    8.6 Storage          
    8.7 Other Applications         
                
9 Global Automated Guided Vehicles Market by, Battery Type         
    9.1 Overview         
    9.2 Lithium-Ion         
    9.3 Lead          
    9.4 Nickel-Based         
    9.5 Other Battery Types         
               
10 Global Automated Guided Vehicles Market by, Navigation Technology        
    10.1 Overview         
    10.2 Laser Guidance         
    10.3 Magnetic Guidance         
    10.4 Natural Navigation         
    10.5 Vision Guided         
    10.6 Inductive Guidance         
    10.7 Optical Tape Guidance        
    10.8 Infra-Red Guidance         
    10.9 Wire Guided         
    10.10 Inertial Guided         
               
11 Global Automated Guided Vehicles Market by, Geography         
    11.1 Overview         
    11.2 North America         
             11.2.1 US 
             11.2.2 Canada 
             11.2.3 Mexico 
    11.3 Europe          
             11.3.1 UK 
             11.3.2 Germany 
             11.3.3 Italy 
             11.3.4 France 
             11.3.5 Spain 
             11.3.6 Rest of Europe
    11.4 Asia Pacific         
             11.4.1 Japan 
             11.4.2 China 
             11.4.3 India 
             11.4.4 Australia 
             11.4.5 New Zealand
             11.4.6 Rest of APAC
    11.5 RoW          
             11.5.1 Middle East
             11.5.2 Brazil 
             11.5.3 Argentina
             11.5.4 South Africa
             11.5.5 Egypt 
               
12 Key Developments             
               
13 Company Profiling             
    13.1 Daifuku Co., Ltd         
             13.1.1 Business Overview
             13.1.2 Product/Service Offering
             13.1.3 Financial Overview
             13.1.4 SWOT Analysis
             13.1.5 Key Activities
    13.2 Bastian Solutions, Inc        
    13.3 Balyo          
    13.4 Egemin International NV        
    13.5 Elettric 80 S.P.A         
    13.6 E&K Automation GmbH        
    13.7 Dematic Systems GmbH        
    13.8 Frog AGV Systems B.V        
    13.9 JBT Corporation         
    13.10 Hyster-Yale Materials Handling, Inc       
    13.11 Swisslog Holding AG        
    13.12 Seegrid Corporation        
    13.13 Kollmorgen Corporation         
    13.14 KMH Systems, Inc         
    13.15 Toyota Industries Corporation