Automated Guided Vehicle Market Size and Share - Outlook Report, Forecast Trends and Growth Analysis (2025-2034)

The automated guided vehicle market reached a value of about USD 2.66 Billion in 2024. The market is projected to grow at a CAGR of 9.80% between 2025 and 2034 to reach nearly USD 6.77 Billion by 2034.

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Increasing Demand for Unit Load Carriers to Augment the Automated Guided Vehicle Industry Growth

Based on type, the unit load carrier segment accounts for a significant share in the automated guided vehicle industry. This can be attributed to the increasing utilisation of unit load carriers to deliver pallets and large containers and their ability to schedule the task efficiently by minimising product damage and aisle traffic. Further, they do not need human intervention unlike fork trucks, and, thus, are great for repetitive tasks and hazardous areas.  Being autonomous in nature, they reduce the requirement of human labour and provide enhanced safety to workers. The rising demand for enhanced workers’ safety is significantly contributing to the growth of the segment.

Key Trends and Developments

Increasing trend of Industry 4.0; technological advancements; rising focus on safety; and growing trend of sustainability are favouring the automated guided vehicle market expansion.

June 2023

Dematic announced the launch of its freezer-rated automated guided vehicles (AGVs) featuring advancements in navigation and sensor technologies. The AGVs are designed to operate autonomously 24/7 in cold storage environments and aim to address occupational health and safety risks of workers.

May 2023

ResGreen Group International, Inc. introduced its bidirectional BigBuddy, a robust range of AGVs that use magnetic tape to move loads up to 5,000 pounds. The AGVs feature brushless and dual-drive motors with a higher torque than brushed motors, leading to improved heat dissipation, better performance, and increased manpower. Through the launch, the company aimed to expand its portfolio of AGVs and AMRs with its full-reversing capability, high-load capacity, and modular design.

January 2023

Barcoding, Inc. announced the acquisition of FRED Automation, Inc., an automated guided vehicle (AGV) company. FRED Automation manufactures and designs AGVs at its facility in Philadelphia. Through the acquisition, the company reinforces its commitment to expand its presence in industrial automation.

July 2022

Swissport launched a pilot with an unmanned AGV at its new cargo centre at Frankfurt Airport. Through the AGV, the company aims to increase the flexibility, efficiency, and safety of its air cargo handling services.

Increasing trend of Industry 4.0

The growing trend of Industry 4.0 is surging the demand for automated guided vehicles (AGVs) to efficiently transport materials, goods, and equipment, streamline internal logistics processes, and eliminate the need for manual labour. In Industry 4.0 environments, AGVs are increasingly connected to centralised systems to enable data collection on battery life, route performance, and task completion.

Integration of advanced technologies in AGVs

The integration of advanced technologies such as machine learning (ML) and artificial intelligence (AI) is revolutionising the automated guided vehicle market landscape. AI and ML enable AGVs to analyse vast amounts of sensor data, extract meaningful insights, support decision-making processes, optimise navigation paths, and facilitate predictive maintenance.

Growing focus on safety

Safety has emerged as a key concern in logistics and warehousing operations, surging the demand for automated guided vehicles equipped with advanced safety features like 360-degree cameras, LiDAR, laser scanners, and ultrasonic sensors to detect pedestrians, obstacles, and hazardous conditions in real-time, hence preventing collisions and accidents in dynamic environments.

Rising emphasis on sustainability

With sustainability becoming a priority in almost all sectors, including logistics, key players are developing AGV designs powered by sustainable energy sources and energy-efficient lithium-ion batteries to align with eco-friendly logistics processes. They are also utilising sustainable and recyclable materials in the manufacturing of automated guided vehicles to reduce their environmental footprint.

The Asia Pacific to Provide Enhanced Growth Opportunities to the Automated Guided Vehicle Industry

Region-wise, the Asia Pacific is expected to witness a robust growth over the forecast period owing to the increasing acceptance of technology, rapid industrialisation, and growing shift towards automation. Furthermore, the growing investments by the leading e-commerce companies like Amazon and others in emerging countries like China and India are expected to significantly contribute to the industry growth in the forecast period.

Automated Guided Vehicle: Market Segmentation

Automated guided vehicles (AGV) refer to load carriers or material handling systems that are autonomous in nature. They are programmed to travel autonomously across manufacturing facilities, warehouses, or distribution centres to assist in moving and transporting items. AGVs provide significant advantages like increase in precision and productivity, safety inside facilities, and reduction in labour cost.

By type, the market is divided into:

• Unit Load Carriers
• Tow Vehicles
• Assembly Line Vehicles
• Forklift Vehicles
• Pallet Trucks
• Special Purpose
• Others

Based on navigation technology, the industry can be segmented into:

• Vision Guidance
• Laser Guidance
• Inductive Guidance
• Magnetic Guidance
• Optical Tape Guidance
• Others

The market is divided based on application into:

• Transportation
• Assembly
• Distribution
• Storage
• Waste Handling
• Packaging
• Others

On the basis of end use, the industry can be bifurcated into:

• Manufacturing Sector
• Wholesale and Distribution Sector

By industry, the market can be segmented into:

• Automotive
• Metal and Heavy Machinery
• Logistics
• Chemical
• Aviation
• Food and Beverage
• Electrical and Electronics
• Retail
• Others

The regional markets for the product include

North America

• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Increasing Demand for Automation in Material Handling and the Thriving E-Commerce Sector to Bolster the Growth of the Automated Guided Vehicle Industry

In recent years, supply chain management has witnessed a dramatic shift towards automation. There has been a rise in adoption of automated guided vehicles like forklifts, pallet trucks, small rack-carrying robots, and others as these vehicles can perform some tasks by using machine learning and deep learning. They are seen as the safest alternatives for manual material handling. Additionally, the growth of the e-commerce industry is resulting in increased demand for safe and efficient material handling equipment to boost productivity. This is further driving the growth of the automated guided vehicle industry. However, high initial investment and maintenance costs associated with automated guided vehicles may hamper the industry growth.

Over the forecast period, the rapid technological advancements and the increasing focus on safety and accuracy are expected to favour the industry growth. The integration of industry 4.0 is expected to be a major trend in the coming years.

Key Industry Players in the Global Automated Guided Vehicle Market

Key automated guided vehicle market players are focusing on technological advancements and integrating technologies such as AI, machine learning, and robots to improve the precision, autonomy, and decision-making of AGVs. Automated guided vehicle companies are also offering customised AGV solutions that can be tailored for diverse applications, including assembly line transportation, material handling, and order picking, among others.

Daifuku Co. Ltd.

Daifuku Co. Ltd., headquartered in Osaka, Japan, and founded in 1937, is a company that is engaged in engineering, consulting, designing, manufacturing, and installing material handling equipment and logistics systems. It has operations in 24 countries across the globe. By 2030, the company aims to achieve consolidated sales of JPY 1 trillion as well as an operating margin of 12.5%.

Seegrid Corporation

Seegrid Corporation, founded in 2003 and headquartered in Pennsylvania, United States, is a company that offers autonomous mobile robot (AMR) solutions for use in material handling solutions. It has partnered with over 50 global brands and more than 2,000 of its AMR solutions have been deployed within over 200 customer sites.

KUKA AG

KUKA AG, headquartered in Augsburg, Germany, and founded in 1898, is a global automation company and one of the leading suppliers of intelligent automation solutions. It offers products, solutions, and services such as autonomous mobile robots (AMR), industrial robots, cloud-based digital services, and fully connected production systems for use in sectors like automotive, e-commerce, consumer goods, retail, and healthcare. The company is active in over 50 countries and boasts more than 100 locations.

Oceaneering International, Inc.

Oceaneering International, Inc., founded in 1969 and headquartered in Texas, United States, is a prominent technology company that delivers robotic solutions and engineering products and services to sectors such as defence, offshore energy, manufacturing, and aerospace, among others.

Other leading companies in the automated guided vehicle market include JBT Europe B.V., and Toyota Material Handling, Inc., among others.
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