AUTOMATED GUIDED VEHICLE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2022 to 2030)

The automated guided vehicle is a material handling automated machine that is used to move pallets, carts, and trays from manufacturing to warehouse facilities. AGVs are set up by companies to increase the efficiency and profitability of the company. Industries are now focusing on increasing efficiency and not only increasing productivity. The automated guided vehicle can navigate without human intervention. The automated guided vehicle is used to reduce physical damage to goods and materials that are caused by human operators. Moreover, AGV is a better option for lifting trucks, which is operated manually. Companies are adopting methodologies such as JIT, KANBAN, etc. to increase efficiency in the automation process. These automated guided vehicles are used in many industries such as food and beverages, pharmaceuticals, chemical, consumer electronics, logistics, retail, and others.

In 2021, Global Automated Guided Vehicle Market is estimated to reach US$ 2,100 million in terms of value.

Market Dynamics

The global automated guided vehicle market is expected to grow significantly during the forecast period, owing to increasing demand for automated guided vehicles in the e-commerce sector. The major competitors in the e-commerce industry are focusing on customer satisfaction and service quality. There is surge in online orders, as people in developed & emerging economies are placing online orders due to increasing disposable income. For instance, in China, according to the National Bureau of Statistics (NBS) rural and urban per capita, disposable income reached US$ 5,658.45 from US$ 2,107.2 in 2018. Moreover, according to the U.S. Bureau of Economic Analysis (BEA), disposable personal income in the U.S. increased to US$ 16,706.40 billion in December 2019 from US$ 16,675.80 billion in November of 2019. The single-day delivery option was carried out by the e-commerce industry with the help of an automated guided vehicle. For instance, Alibaba, a China-based e-commerce company, opened a new automated warehouse with 700 robots to deliver the parcel to customers within 24 hours nationally and 72 hours internationally. Thus, in turn, increases customer satisfaction in the e-commerce sector, which is expected to drive the market growth.

Moreover, major use of automated guided vehicles in manufacturing sector can create lucrative growth opportunities for the global automated guided vehicle market. Automated guided vehicles are optimizing production processes and making them more flexible not only in the automotive sector but also in other segments such as electrical and electronics, machinery, and food & beverages. For instance, in March 2020, Seegrid Corporation, a U.S.-based company who provides self-driving vehicles, launched GT10 Series 7 Plus, a first vision guided vehicle with auto charging feature for manufacturing, transportation, and e-commerce companies. Deployment of automated guided vehicles has helped industry players to design the overall process in a smooth and efficient manner. The work occurs in more than two shifts in manufacturing sector to meet the demand-supply gap of the product. Thus, the automated guided vehicles have helped the industry players to achieve the demand-supply gap with the help of high speed, accuracy, and precision offered over humans.

Furthermore, major global players across different regions are focusing on developing new products with new features and technologies to gain competitive edge in the market. Industries are expanding their businesses through acquisition and partnership of large scale robotics provider companies. In August 2019, Alert innovation, Inc., a U.S.-based automation company, announced partnership with Murata Machinery, Ltd., a Japan-based company who manufactures and sells industrial machinery. Through this partnership, Murata Machinery, Ltd. had technical knowledge transfer on the ALPHABOT robot system and Alert innovation Inc. will be able to take advantage of Murata Machinery, Ltd.’s resources as a global material handling solution provider to expand their business.

Key features of the study:

• This report provides an in-depth analysis of the Global Automated Guided Vehicle Market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global automated guided vehicle market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the Global Automated Guided Vehicle Market are JBT, KION GROUP AG, KUKA AG, TOYOTA INDUSTRIES CORPORATION, Hyster-Yale Materials Handling, Inc., Schaefer Systems International Pvt Ltd., E&K AUTOMATION LIMITED, Oceaneering International, Inc., Murata Machinery, Ltd., KNAPP AG, Swisslog Holding AG, Dematic, Bastian Solutions, Inc., Daifuku Co., Ltd., Seegrid Corporation, Fetch Robotics, Inc., inVia Robotics, Inc., Crown Equipment Corporation, and Meidensha Corporation
• The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
• The global automated guided vehicle market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Automated Guided Vehicle Market.

Detailed Segmentation

• Global Automated Guided Vehicle Market, By Type:
  • Tow Vehicles
  • Unit Load Carriers
  • Forklift Trucks
  • Assembly Line Vehicles
  • Pallet Trucks
  • Others
• Global Automated Guided Vehicle Market, Navigation Technology:
  • Laser Guidance
  • Magnetic Guidance
  • Inductive Guidance
  • Optical Tape Guidance
  • Vision Guidance
  • Others
• Global Automated Guided Vehicle Market, By End-use Industry:
  • Automotive
  • Metals & Heavy Machinery
  • Food & Beverages
  • Chemicals
  • Healthcare
  • Semiconductors & Electronics
  • Aviation
  • E-commerce
  • Others
• Global Automated Guided Vehicle Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles
  • JBT*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
    • Future Plans
  • KION GROUP AG
  • KUKA AG
  • TOYOTA INDUSTRIES CORPORATION
  • Hyster-Yale Materials Handling, Inc.
  • Schaefer Systems International Pvt Ltd.
  • E&K AUTOMATION LIMITED
  • Oceaneering International, Inc.
  • Murata Machinery, Ltd.
  • KNAPP AG
  • Dematic
  • Bastian Solutions, Inc.
  • Daifuku Co., Ltd.
  • Seegrid Corporation
  • Fetch Robotics, Inc.
  • inVia Robotics, Inc.
  • Crown Equipment Corporation
  • Meidensha Corporation

“*” marked represents similar segmentation in other categories in the respective section.