Automated Guided Vehicle Market Size, Share & Trends Analysis Report By Vehicle Type, By Navigation Technology, By Application, By End-use Industry, By Component, By Battery Type, By Region, And Segment Forecasts, 2021 - 2028

Automated Guided Vehicle Market Growth Growth & Trends

The global automated guided vehicle market size is expected to reach USD 9.32 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 13.0% from 2021 to 2028. AGVs have transformed the way materials can be moved within the manufacturing and distribution facilities. In a production environment where several operations are carried out simultaneously, the Automated Guided Vehicles (AGVs)ensure a predictable and reliable transfer of raw materials as well as manufactured products from one point to another point within the facility, thereby eliminating any potential disruption in production. These vehicles can operate safely around structures, machinery, and employees, as they are equipped with accessories, such as camera vision and LiDAR sensors, among others, which help in detecting junctions, identifying floor signs, and avoiding collisions with any obstacle.

Several manufacturing plants and warehouses are deploying material handling equipment for various activities, such as locating stock, picking orders, and moving products and raw materials. Transportation and logistics firms are mainly focusing on the deployment of such equipment to boost the efficiency of their operations in line with the growing demand for their services. For instance, in September 2019, a U.S.-based robotic solutions provider AHS, LLC partnered with Exotec, which is a France-based mobile robot picking system provider. The former company introduced 3D mobile robots that can move in three dimensions and enable warehouse team members to focus on packing and shipping and neglecting the long-distance walks to access inventories. Also, material handling solutions are used to increase the efficiency of transportation, decrease physical damage to the material, and reduce overheads by limiting the number of employees.

The AGV market is witnessing a progressive switch from lead-acid batteries to lithium-ion batteries. Lithium-ion batteries offer several advantages over lead-acid batteries. They tend to be lighter and compact. They can charge faster, provide longer runtimes, and support more charge cycles. Hence, they are ideal for AGVs, as they are not required to be charged frequently during operating shifts or in 24x7 operating environments, and AGVs running on lithium-ion batteries can offer higher round-trip efficiencies.

Automated Guided Vehicle Market Report Highlights

  • The adoption of material handling equipment and automation solutions is growing significantly across several industries
  • The growing adoption of AGVs by the automotive industry as well as the automotive supply industry to move intermediate products within the facility is expected to drive the growth of the AGV market
  • The manufacturing industry is increasingly adopting AGVs to save on labor costs. While AGV can operate on a 24x7 basis, the costs associated with the procurement and maintenance of AGV tend to be lesser than the costs incurred on salaries and employee benefits
  • The logistics and warehousing segment happen to be the largest application of automated guided vehicles. The segment generated the highest revenue in 2020and is expected to retain its dominance over the forecast period
  • Europe dominated the global market in 2020. However, the Asia Pacific region is projected to expand at the highest CAGR from 2021 to 2028
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Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’S Internal Database
1.3.3 Secondary Sources & Third-Party Perspectives
1.3.4 Primary Research
1.4 Information analysis
1.4.1 Data Analysis Models
1.5 Market formulation & data visualization
1.6 Data validation & publishing
Chapter 2 Executive Summary
2.1 AGV - Industry Snapshot & Key Buying Criteria, 2017 - 2028
2.2.1 Global Automated Guided Vehicle Market, 2017 - 2028
2.2 Segmental Outlook
2.2.1 Vehicle Type Outlook
2.2.2 Navigation Technology Outlook
2.2.3 Application Outlook
2.2.4 End-Use Industry Outlook
2.2.5 Component Outlook
2.2.6 Battery Type Outlook
2.2.7 Regional Outlook
Chapter 3 AGV Industry Outlook
3.1 Market Segmentation
3.2 Market Size and Growth Prospects
3.3 Future of AGV
3.4 Case Studies
3.4.1 Case Study 1
3.4.2 Case Study 2
3.5 AGV - Value Chain Analysis
3.5.1 Raw Material Trends Major raw materials market analysis
3.5.2 Key End-users
3.6 Vendor Landscape
3.6.1 Key Takeaways Swisslog Holding AG Dematic Bastian Solutions, Inc. Daifuku Co., Ltd. JBT Seegrid Corporation TOYOTA INDUSTRIES CORPORATION Hyster-Yale Materials Handling, Inc. BALYO E&K Automation GmbH Kollmorgen KMH Fleet Solutions ELETTRIC80 S.P.A. Fetch Robotics, Inc. inVia Robotics, Inc. Locus Robotics Schaefer Systems International, Inc. System Logistics Spa Scott
3.7 AGV Market Dynamics
3.7.1 Supplier/Vendor trends
3.7.2 Buyers/Application trends
3.7.3 Technology trends
3.7.4 Regulatory trends
3.8 Market Driver Analysis
3.8.1 Increasing demand for automation and material handling equipment in various process industries
3.8.2 Replacement of conventional batteries with lithium-ion batteries
3.8.3 High labor costs
3.8.4 Manufacturers introducing vision guided vehicles and mobile robots
3.8.5 Rapidly growing e-commerce industry
3.8.6 Enhanced safety at workplaces
3.9 Market Restraint Analysis
3.9.1 High initial cost
3.9.2 Singular use and lack of flexibility
3.10 Market Opportunity Analysis
3.10.1 Manufacturers providing intelligent AGV
3.11 Industry Analysis - Porter’s Five Forces Analysis
3.11.1 Supplier Power
3.11.2 Buyer Power
3.11.3 Substitution Threat
3.11.4 Threat from new entrant
3.11.5 Competitive rivalry
3.12 AGV - PEST Analysis
3.12.1 Political Landscape
3.12.2 Economic Landscape
3.12.3 Social Landscape
3.12.4 Technology Landscape
3.12.5 Legal Landscape
3.13 Technology Overview
3.13.1 Technology evolution
3.13.2 Wire guidance
3.13.3 Magnetic guidance
3.13.4 Laser guidance (Laser triangulation navigation system)
3.13.5 Vision guidance
3.14 Major Deals & Strategic Alliances Analysis
3.14.1 Mergers and Acquisitions
Chapter 4 AGV Market: Vehicle Type Estimates and Trend Analysis
4.1 AGV Market Share by Vehicle Type, 2020 & 2028
4.1.1 Tow vehicle
4.1.2 Unit load carrier
4.1.3 Pallet truck
4.1.4 Forklift truck
4.1.5 Hybrid vehicles
4.1.6 Others
Chapter 5 AGV Market: Navigation Technology Estimates & Trend Analysis
5.1 AGV Market Share by Navigation Technology, 2020 & 2028
5.1.1 Heat map for choosing navigation
5.1.2 Laser guidance
5.1.3 Magnetic guidance
5.1.4 Vision guidance
5.1.5 Inductive guidance
5.1.6 Natural navigation
5.1.7 Others
Chapter 6 AGV Market: Application Estimates & Trend Analysis
6.1 AGV Market Share by Application, 2020 & 2028
6.1.1 Logistics and warehousing
6.1.2 Assembly
6.1.3 Packaging
6.1.4 Trailer loading & unloading
6.1.5 Raw material handling
6.1.6 Others
Chapter 7 AGV Market: End-Use Industry Estimates & Trend Analysis
7.1 AGV Market Share by End-Use Industry, 2020 & 2028
7.1.1 Manufacturing sector
7.1.2 Wholesale and distribution sector
Chapter 8 AGV Market: Component Estimates & Trend Analysis
8.1 AGV Market Share by component, 2020 & 2028
8.1.1 Hardware
8.1.2 Software
8.1.3 Service
Chapter 9 AGV Market: Battery Type Estimates & Trend Analysis
9.1 AGV Market Share by battery type, 2020 & 2028
9.1.1 Lead battery
9.1.2 Lithium-ion battery
9.1.3 Nickel-based battery
9.1.4 Others
Chapter 10 AGV Market: Regional Estimates and Trend Analysis
10.1 AGV Market Share by Region, 2020 & 2028
10.1.1 North America U.S. AGV market, 2017 - 2028 Canada AGV market, 2017 - 2028 Mexico AGV market, 2017 - 2028
10.1.2 Europe U.K. AGV market, 2017 - 2028 Germany AGV market, 2017 - 2028 France AGV market, 2017 - 2028
10.1.3 APAC China AGV market, 2017 - 2028 Japan AGV market, 2017 - 2028 India AGV market, 2017 - 2028 Australia AGV market, 2017 - 2028 South Korea AGV Market, 2017 - 2028
10.1.4 South America Brazil AGV market, 2017 - 2028
10.1.5 MEA
Chapter 11 Competitive Landscape
11.1 Swisslog Holding AG
11.1.1 Company Overview
11.1.2 Financial Performance
11.1.3 Product Benchmarking
11.1.4 Recent Developments
11.2 Dematic
11.2.1 Company Overview
11.2.2 Financial Performance
11.2.3 Product Benchmarking
11.2.4 Recent Developments
11.3 Bastian Solutions, Inc.
11.3.1 Company Overview
11.3.2 Product Benchmarking
11.3.3 Recent Developments
11.4 Daifuku Co., Ltd.
11.4.1 Company Overview
11.4.2 Financial Performance
11.4.3 Product Benchmarking
11.4.4 Recent Developments
11.5 JBT
11.5.1 Company Overview
11.5.2 Financial Performance
11.5.3 Product Benchmarking
11.5.4 Recent Developments
11.6 Seegrid Corporation
11.6.1 Company Overview
11.6.2 Product Benchmarking
11.6.3 Recent Developments
11.7 Toyota Industries Corporation
11.7.1 Company Overview
11.7.2 Financial Performance
11.7.3 Product Benchmarking
11.7.4 Recent Developments
11.8 Hyster-Yale Materials Handling, Inc.
11.8.1 Company Overview
11.8.2 Financial Performance
11.8.3 Product Benchmarking
11.8.4 Recent Developments
11.9 BALYO
11.9.1 Company Overview
11.9.2 Product Benchmarking
11.9.3 Recent Developments
11.10 E&K Automation GmbH
11.10.1 Company Overview
11.10.2 Product Benchmarking
11.10.3 Recent Developments
11.11 Kollmorgen
11.11.1 Company Overview
11.11.2 Product Benchmarking
11.11.3 Recent Developments.
11.12 KMH Fleet Solutions
11.12.1 Company Overview
11.12.2 Product Benchmarking
11.12.3 Recent Developments
11.13 ELETTRIC80 S.P.A.
11.13.1 Company Overview
11.13.2 Product Benchmarking
11.13.3 Recent Developments
11.14 Fetch Robotics, Inc.
11.14.1 Company Overview
11.14.2 Product Benchmarking
11.14.3 Recent Developments
11.15 inVia Robotics, Inc.
11.15.1 Company Overview
11.15.2 Product Benchmarking
11.15.3 Recent Developments
11.16 Locus Robotics
11.16.1 Company Overview
11.16.2 Product Benchmarking
11.16.3 Recent Developments
11.17 Schaefer Systems International, Inc.
11.17.1 Company Overview
11.17.2 Product Benchmarking
11.17.3 Recent Developments
11.18 System Logistics Spa
11.18.1 Company Overview
11.18.2 Product Benchmarking
11.18.3 Recent Developments
11.19 Scott
11.19.1 Company Overview
11.19.2 Financial Performance
11.19.3 Product Benchmarking
11.19.4 Recent Developments

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