Glоbаl Аutоmаtеd Guіdеd Vеhісlеѕ Маrkеt Ву Туре (Unіt Lоаd Саrrіеr, Раllеt Тruсk, Тоw Vеhісlе, аnd Оthеrѕ), By Navigation Technology(Vision Guidance,Inductive Guidance, and Others),Ву Аррlісаtіоn (Тrаnѕроrtаtіоn, Расkаgіng, and Others), By Battery Type(Nickel-based Battery, Lead Battery, and Others) and by Region and Companies Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032.
- account_circleAbout Me
Automated Guided Vehicles Market Overview:
The global market for automated guided vehicles was worth USD 3,820 million in 2021. This market is forecast to grow at a 10.2% compound annual growth rate between 2022-2032.
AGV (automated guided vehicle) systems are used to transport and move items in warehouses, distribution centers, and manufacturing facilities without the need for a permanent conveying system or manual intervention.
It can follow configurable guides to optimize storage, picking, and transport functions within premium space.
Global Automated Guided Vehicles Market Analysis
Vehicle Type Analysis
In 2021, the market was dominated by the tow vehicle segment. It accounted for more than 42.31% of all revenue. The need for unit load AGVs is to transport large containers, pallets, and roll handling. You can also schedule the task more efficiently, reducing aisle traffic or product damage.
AGVs that are unit-load carriers can replace fork trucks, which require an employee to operate. These AGVs are ideal for long distances and repetitive tasks.
They also offer safety in hazardous areas. These robots are also autonomous, so they reduce the need to hire workers and increase worker safety. The unit load carrier's efficiency for shipping large items is due to its product delivery and trackable timing.
Navigation Technology Analysis
In 2021, the laser guidance segment represented a high revenue share in the market. The forecast period will see healthy growth in the vision guidance segment. Automated vehicles are being increasingly adopted due to the need for efficient and intelligent routing.
AGVs can now better understand the environment through computer vision and other software solutions. This is a major reason why AGVs are increasingly being used in challenging environments like maneuvering important components through narrow aisles.
AGVs have camera-based visuals, which can be complemented by LiDAR sensors, computer systems, and computer systems. This helps to ensure accurate navigation in warehouses and production facilities. The cameras on these vehicles can help detect and gather information.
It is also useful for analyzing infrastructure within facilities in real-time. The LiDAR sensors can provide information that can be combined with the cameras to help create a 3D map of the operation area.
The logistics and warehouse segment had a significant market share in 2021 The logistics and warehousing sector has been further sub-segmented into transportation, cold stock, wholesale & distributor, and cross-docking.
To reduce labor costs and increase productivity, enterprises are upgrading and building new facilities. In order to maintain competitiveness in logistics and warehousing, they are opting for taller racks and compact layouts.
In order to keep up with growing customer demand, they also want to improve the efficiency of their operations.
AGV solutions are preferred by these companies as they allow them to maneuver efficiently and accurately through narrow aisles and compact layouts. They also increase the reliability of their storage processes. AGVs will continue to grow due to the increasing demand from logistics and warehouse companies.
The market was dominated by the manufacturing segment in 2021. The manufacturing industry can be further sub-segmented as follows: electronics, aerospace & defense, plastics FMCG, pharmaceuticals and chemicals, tissue, and others.
Additionally, the wholesale and distribution industry is sub-segmented into grocery shops, E-Commerce, retail stores, and hotels & restaurant. AGVs have been adopted in increasing numbers across many industries because of their productivity, safety, and accuracy.
AGVs have cameras, laser heads, or other sensors that enable them to safely operate around structures, machinery, or employees. AGVs are able to reduce the amount of waste and increase productivity by improving operator accuracy.
Because of the sheer size of components such as engine pods, wings, and nacelles, the aerospace and defense manufacturing facilities can be very large. These components must be moved through narrow paths within the facility. Natural errors can cause mishaps or accidents when heavy items are being moved through such narrow pathways.
Companies in aerospace and defense are using automated guided vehicles to ensure that heavy components can move within the facility following pre-defined routes. This allows for human error to be avoided.
The hardware segment had a high revenue share in 2021. The increasing deployment of collaborative robots to reduce human labor, and repetitive tasks in manufacturing or distribution plants can explain the market's growth. Amazon.com Inc. for instance, created autonomous mobile robots, including Bert, Ernie, Scooter, and Kermit, in June 2021 to reduce human labor and prevent warehouse injuries.
These robots can perform various tasks, such as carrying totes or completing manual labor. This is due to the increasing demand for various services by end-users, including preventive and corrective maintenance and vehicle and software health checks, as well as training employees who are directly or indirectly involved with AGV operation.
AGVs have been a key component of distribution centers and manufacturing plants where repetitive and standardized tasks are required. Automated vehicles are available for many industries including pharmaceuticals and automotive as well as warehouses & distribution and food & drinks.
Automated guided vehicle payloads can range from 3 kg to 65 tons depending on the task. This market segment holds the largest share of hardware, thanks to its availability of many hardware solutions such as actuators, material handling equipment, and robots.
Battery Type Analysis
In 2021, the lead battery segment held a high revenue share of the total market. These batteries are more affordable than other types. These batteries are also suitable for a wide variety of applications, as they offer good reversibility, high voltage stability, and long life. The fastest CAGR in the segment of lithium-ion batteries is 16% during the forecast period.
The AGVs market is experiencing a shift from lead-acid batteries to Lithium-ion Batteries. The cost of lithium-ion batteries is higher than that of lead acid. Lithium-ion batteries can be charged and discharged at high power.
It meets various industry demands, including high-temperature performance and long-life cycles. These are the main reasons that AGV manufacturers will choose lithium-ion over other battery types.
Flux Power, which is a manufacturer of rechargeable energy solutions for lithium batteries, stated in July 2021 that the lithium-ion batteries used in AGVs will help maintain high voltage levels. These batteries are extremely efficient, high performing, low maintenance, and quick charging.
Key Market Segments
By Vehicle Type
- Hybrid Vehicles
- Unit Load Carrier
- Tow Vehicle
- Forklift Truck
- Other Vehicle Types
By Navigation Technology
- Vision Guidance
- Inductive Guidance
- Natural Navigation
- Laser Guidance
- Magnetic Guidance
- Other Technologies
- Wholesale & Distribution
- Cold Storage
- Raw Material Handling
- Other Applications
- Wholesale and Distribution Sector
- Manufacturing Sector
By Battery Type
- Nickel-based Battery
- Lead Battery
- Lithium-Ion Battery
- Other Battery Types
Automated Guided Vehicles Market Dynamics
AGVs have many advantages, including reduced labor costs, product damage, and scale to support automatization processes. These are all reasons for logistics companies and transport firms to invest in AGVs to improve their efficiency.
In order to improve the material handling sector, logistics companies and retailers are joining forces with tech giants. OTSAW Digital Pvt.Ltd partnered with Swiss Log Healthcare to build automated guided vehicles in the healthcare sector. This partnership will enable better patient care. AGVs would be deployed in the Asia Pacific and Europe as part of this partnership.
Additionally, commerce-based and retail-based companies and businesses are investing in collaborative robots for their warehouses.
This allows them to expand their business by purchasing large-scale robot vendors. Save Mart Supermarkets is a grocery retailer that partnered with Starship Technologies in February 2022 to provide autonomous delivery vehicles.
The starship robot is a combination of machine learning and artificial intelligence that will deliver groceries. Save Mart Supermarkets expanded its delivery areas with the installation of the starship robot.
Automation is a key component of many industries such as logistics and automotive.
Industrial equipment is needed because of increased productivity and decreased labor costs. AGVs are expected to be in demand because of the growing automation in industries. In order to maximize fuel efficiency and custom material handling, industrialization is driving the demand for AGVs.
Automated Guided Vehicles Market Regional Analysis
The market was dominated by Europe in 2021. It accounted for 37.2% of the total revenue. Over the forecast period, the European region market is expected to continue being the dominant regional market.
The growing demand for material handling equipment in the manufacturing sector is driving the market's growth. The market has seen a rise in automation in all segments.
In January 2022, PUMA SE stated that it would be installing more robots that combine artificial intelligence, cameras, as well as grippers.
More robots would lower labor costs, increase productivity, reduce waste, and allow for the assembly of the shoes and clothes in the distribution center.
Asia Pacific is projected to grow at the fastest CAGR rate of 11.8% over the forecast. In emerging countries of the Asia Pacific such as India and China, the e-commerce market has seen significant growth.
Shenzhen Casun Intelligent Robot Co. Ltd. was an automation machine manufacturing company that launched CASUN Intelligent Robot, a "little giant".
The CASUN's self-deployed intelligent control allows AGV to move around the warehouse and accomplish various tasks such as loading and unloading. Many e-commerce companies are looking to expand their reach into regional markets because of this surge in e-commerce.
The competition is growing in the eCommerce industry. Industry incumbents are working to stand out by cutting down the delivery time to their customers.
AGVs can be deployed in warehouses to automate the intralogistics tasks like sorting, picking, and palletizing. This increases efficiency. AGVs are becoming more popular in the e-commerce sector as incumbents strive to establish a reliable storage system and increase efficiency.
Кеу Regions and Countries covered in the report:
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- South Africa
- Rest of MEA
Market Share & Key Players Analysis:
Increasing collaborations and mergers and acquisitions are expected to maximize the economic and environmental benefits for market players.
It allows them to share ideas, improve their technology and increase their internal skills. Additionally, automation in supply chain management would be more popular.
It would be easier to provide clients and partners with full-service warehouse management solutions.
Automated Guided Vehicles Маrkеt Кеу Рlауеrѕ:
- SwissLog Holding AG
- Bastian Solutions, Inc.
- Egemin Automation Inc.
- Seegrid Corporation
- E&K Automation GmbH
- System Logistics Spa
- Daifuku Co., Ltd.
- Other Key Players
Rеаѕоnѕ tо Gеt thіѕ Rероrt:
Іn аn іnѕіght оutlооk, thіѕ rеѕеаrсh rероrt hаѕ dеdісаtеd tо ѕеvеrаl quаntіtіеѕ оf аnаlуѕіѕ іnduѕtrу rеѕеаrсh аnd Automated Guided Vehicles market ѕhаrе аnаlуѕіѕ оf hіgh рlауеrѕ, аlоng wіth соmраnу рrоfіlеѕ, аnd whісh соllесtіvеlу іnсludе аbоut thе fundаmеntаl оріnіоnѕ rеgаrdіng thе mаrkеt lаndѕсаре; еmеrgіng аnd hіgh-grоwth ѕесtіоnѕ оf Automated Guided Vehicles market; hіgh-grоwth rеgіоnѕ; аnd mаrkеt drіvеrѕ, rеѕtrаіntѕ, аnd аlѕо mаrkеt trends.
Тhе аnаlуѕіѕ соvеrѕ Automated Guided Vehicles market аnd іtѕ аdvаnсеmеntѕ асrоѕѕ dіffеrеnt іnduѕtrу vеrtісаlѕ аѕ wеll аѕ rеgіоnѕ.
Іt tаrgеtѕ еѕtіmаtіng thе сurrеnt mаrkеt ѕіzе аnd grоwth роtеntіаl оf thе glоbаl Automated Guided Vehicles market асrоѕѕ ѕесtіоnѕ ѕuсh аѕ аlѕо аррlісаtіоn аnd rерrеѕеntаtіvеѕ.
Аddіtіоnаllу, thе аnаlуѕіѕ аlѕо hаѕ а соmрrеhеnѕіvе rеvіеw оf thе сruсіаl рlауеrѕ оn thе Automated Guided Vehicles market tоgеthеr ѕіdе thеіr соmраnу рrоfіlеѕ, ЅWОТ аnаlуѕіѕ, lаtеѕt аdvаnсеmеntѕ, аnd buѕіnеѕѕ рlаnѕ.
What are the Key Data Covered in this Automated Guided Vehicles Market Report?
• CAGR of the market during the forecast period 2023-2032
• Detailed information on factors that will drive Automated Guided Vehicles market growth during the next ten years
• Precise estimation of the Automated Guided Vehicles market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the Automated Guided Vehicles market industry across North America, APAC, Europe, South America, the Middle East, and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of Automated Guided Vehicles market vendors
Тhе аnаlуѕіѕ оbјесtіvеѕ оf thе rероrt аrе:
• То еquіtаblу ѕhаrе іn-dерth іnfо rеgаrdіng thе сruсіаl еlеmеntѕ іmрасtіng thе іnсrеаѕе оf іnduѕtrу (grоwth сарасіtу, trends, drіvеrѕ, аnd іnduѕtrу-ѕресіfіс сhаllеngеѕ аnd rіѕkѕ).
• То knоw thе Automated Guided Vehicles market bу ріnроіntіng іtѕ mаnу ѕubѕеgmеntѕ.
• То рrоfіlе thе іmроrtаnt рlауеrѕ аnd аnаlуzе thеіr grоwth рlаnѕ.
• То еndеаvоr thе аmоunt аnd vаluе оf Automated Guided Vehicles market ѕub-mаrkеtѕ, dереndіng оn kеу rеgіоnѕ (vаrіоuѕ vіtаl ѕtаtеѕ).
• То аnаlуzе Automated Guided Vehicles market соnсеrnіng grоwth trеndѕ, рrоѕресtѕ, аnd аlѕо thеіr раrtісіраtіоn іn thе еntіrе ѕесtоr.
• То ехаmіnе аnd ѕtudу thе Automated Guided Vehicles market ѕіzе (vоlumе & vаluе) frоm thе соmраnу, еѕѕеntіаl rеgіоnѕ/соuntrіеѕ, рrоduсtѕ, аnd аррlісаtіоn, bасkgrоund іnfоrmаtіоn frоm 2016 tо 2020, аnd аlѕо рrеdісtіоn tо 2032.
• Рrіmаrу wоrldwіdе Automated Guided Vehicles market mаnufасturіng соmраnіеѕ, tо ѕресіfу, сlаrіfу аnd аnаlуzе thе рrоduсt ѕаlеѕ аmоunt, vаluе аnd mаrkеt ѕhаrе, mаrkеt rіvаlrу lаndѕсаре, ЅWОТ аnаlуѕіѕ аnd dеvеlорmеnt рlаnѕ nехt соmіng уеаrѕ.
• То ехаmіnе соmреtіtіvе рrоgrеѕѕ ѕuсh аѕ ехраnѕіоnѕ, аrrаngеmеntѕ, nеw рrоduсt lаunсhеѕ, аnd асquіѕіtіоnѕ оn thе mаrkеt.
For the Global Automated Guided Vehicles Market research study, the following years have been considered to estimate the market size:
Particular Scope Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Historic Year 2016 to 2020 Estimated Year 2022 Forecast Year 2023 to 2032
- account_circleAbout Me
- Bastian Solutions
- Swisslog Holding
- Frog AGV
- EK Automation
Frequently Asked Questions (FAQ)
Q: What is the Automated Guided Vehicles market size in 2021?
The Automated Guided Vehicles market size is $3,820 million in 2021.
What are the segments covered in the Automated Guided Vehicles market report?
Market.US has segmented the Global Automated Guided Vehicles Market Value (US$ Mn) Analysis by Region, 2022 market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Vehicle Type, market has been segmented into hybrid vehicles, unit load carrier, tow vehicle, forklift truck, and other vehicle types. By Navigation Technology, market has been further divided into vision guidance, inductive guidance, natural navigation, laser guidance, magnetic guidance, and other technologies. By Application, market has been further divided into transportation, wholesale & distribution, packaging, cold storage, assembly, raw material handling, and other applications. By End-Use, market has been further divided into wholesale and distribution sector, and manufacturing sector. By Component, market has been further divided into service, software, and hardware. By Battery Type, market has been further divided into nickel-based battery, lead battery, lithium-ion battery, and other battery types.
Who are the key players in the Automated Guided Vehicles market?
Swisslog Holding AG, JBT, Bastian Solutions Inc., Egemin Automation Inc., Seegrid Corporation, E&K Automation GmbH, System Logistics Spa, Daifuku Co. Ltd., and Other Key Players.
Which region is more attractive for vendors in the Automated Guided Vehicles market?
Europe accounted for the highest revenue share of 37.2% among the other regions. Therefore, the Automated Guided Vehicles market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
What are the key markets for Automated Guided Vehicles?
Key markets for Automated Guided Vehicles are US, China, Japan, India, Brazil, Germany, UK, France, Italy, Spain, etc.
Which segment has the largest share in the Automated Guided Vehicles market?
In the Automated Guided Vehicles market, vendors should focus on grabbing business opportunities from the tow vehicle type segment as it accounted for the largest market share in the base year.
What is the CAGR for the Automated Guided Vehicles market?
The Automated Guided Vehicles market is expected to grow at a CAGR of 10.2% during 2023-2032.