Automated Guided Vehicle Market Size to Hit USD 4.43 Billion, at a CAGR 9.8% | Fortune Business Insights

Automated Guided Vehicle Market to Grow at 9.8% CAGR from 2023 to 2030; Improved Stability and Control to Propel the Demand for Forklift Trucks: Fortune Business Insights™

Pune, India, Sept. 07, 2023 (GLOBE NEWSWIRE) — The global automated guided vehicle market size was valued at USD 2.12 billion in 2022. The market is anticipated to expand from USD 2.30 billion in 2023 to USD 4.43 billion by 2030, exhibiting a CAGR of 9.8% over the estimated period. The surge is attributed to the various advantages of Automated Guided Vehicle (AGV) such as improved product efficiency and the removal of human workforce from potentially dangerous situations. Fortune Business Insights™ provides this information in its research report, titled “Automated Guided Vehicle Market, 2023-2030”.

KEY INDUSTRY DEVELOPMENTS:

AFT Industries AG and Daifuku Co., Ltd. agreed to create a commercial relationship centered on deploying the material handling experience of both firms in the automobile sector.

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/sample/automated-guided-vehicle-agv-market-101966

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2023 to 2030
Forecast Period 2023 to 2030 CAGR 9.8%
2030 Value Projection USD 4.43 billion
Base Year 2022
Automated Guided Vehicle Market Share in 2022 USD 2.12 billion
Historical Data for 2019 to 2021
No. of Pages 160
Segments covered By Type, By Navigation Technology, By Application, By Industry and By Region
Automated Guided Vehicle Market Growth Drivers Increasing Material Handling Process from E-commerce Industry to Accelerate AGV Market Revenue
Transportation & Distribution to Have Highest Growth Due to Adoption in Various Industries

COVID-19 Impact:

Industry Growth Boosted by the Rising AGV Adoption in Warehouses across Numerous Industries

The COVID-19 pandemic resulted in an upsurge in the adoption of automated guided vehicles owing across various industries. This was mainly on account of their working capabilities without physical contact. The vehicles were also adopted in the healthcare industry for combating the COVID-19 pandemic situation. These factors propelled industry expansion during the pandemic period.

Browse Complete Report Details: https://www.fortunebusinessinsights.com/automated-guided-vehicle-agv-market-101966

List of the Companies Operating in the Market:

  • Oceaneering International Inc (U.S.)
  • Toyota Advanced Logistics (Japan)
  • Daifuku Co., Ltd. (Japan)
  • KION GROUP AG (Germany)
  • Dematic (U.S.)
  • Hyster-Yale Materials Handling, Inc., (U.S.)
  • JBT (U.S.)
  • Mitsubishi Caterpillar Forklift America Inc. (U.S.)
  • Crown Equipment Corporation (U.S.)
  • Seegrid Corporation (U.S.)

Drivers and Restraints:

Market Value to Surge Driven by Increasing Product Demand in E-commerce Sector

The automated guided vehicle market growth is being impelled by the soaring product demand in the e-commerce sector. The advent of the Industry 4.0 has also led to the adoption of advanced technologies such as machine learning, the Internet of Things (IoT), and artificial intelligence.

However, lack of flexibility associated with automated guided vehicles may hinder industry expansion to some extent.

Report Coverage:

The report gives a comprehensive coverage of the key trends impelling the global industry landscape over the forthcoming years. It further delves into the prominent factors propelling market expansion throughout the projected period. These insights have been furnished after extensive research and data collation from credible sources.

Market Segmentation:

Automated Forklift Trucks Segment to Exhibit Notable Expansion Owing to Enhanced Stability

On the basis of type, the market is categorized into tow vehicles, automated forklift trucks, uunderride/tunneling vehicles, assembly line vehicles, and others (unit load carriers). Of these, the automated forklift trucks segment held a dominating share in the market and is expected to expand at a substantial CAGR over the study period. The expansion is impelled by extensive deployment of these vehicles owing to their enhanced control, storage capacity, and stability. 

Laser Guided Navigation Segment to Register Substantial Growth Driven by Accurate Positioning Tolerances

Based on navigation technology, the market is categorized into magnetic guided, laser guided, vision guided, and others (wire guided). The laser guided segment is poised to expand at a substantial rate over the projected period. The surge is impelled by the growing product usage on account of the advantage of accurate positioning.

Transportation & Distribution Segment to Gain Traction Impelled by Rising Adoption in Numerous Industries

Based on application, the market is fragmented into storage & assembly, transportation & distribution, and packaging. The transportation and distribution segment is slated to exhibit appreciable growth over the estimated period. The upsurge is on account of the increasing product adoption in various facilities and industries. 

Based on geography, the market for automated guided vehicle has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/automated-guided-vehicle-agv-market-101966

Regional Insights:

North America to Emerge as a Key Region Owing to Growing Reliance on New Technologies

The North America automated guided vehicle market share is poised to record appreciable growth over the estimated period. The rise is on account of the increasing adoption of new technologies by manufacturers driven by numerous advantages such as greater material throughput and lower operating costs.

The Asia Pacific market is slated to record lucrative growth throughout the study period. The expansion is due to the increasing adoption of AGV software for traffic management, transport management, and steering.

Competitive Landscape:

Major Industry Players Strike Various Deals to Strengthen Industry Footing

An array of strategies such as partnership agreements, mergers, collaborations, and others are being adopted by key market players for expanding their geographical footprints. Besides, companies are also focusing on the formation of alliances and R&D activities. Additional strategies include the development and launch of new solutions.

Major Table of Contents:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Executive Summary
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Global Automated Guided Vehicle Key Players Market Share Insights and Analysis, 2022
  • Global Automated Guided Vehicle Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
      • Key Findings
      • By Type (USD)
        • Tow Vehicles
        • Automated Forklift Trucks
        • Underride/ Tunneling Vehicles
        • Assembly Line Vehicles
        • Others (Unit Load Carriers)
      • By Navigation Technology (USD)
        • Laser Guided
        • Magnetic Guided
        • Vision Guided
        • Others (Wire Guided) 
      • By Application (USD)
        • Transportation & Distribution
        • Storage & Assembly
        • Packaging
      • By Industry (USD)
        • Automotive
        • Food & Beverage
        • E-commerce
        • Others (Healthcare, etc.)
      • By Region (USD)
        • North America
        • Europe
        • Asia Pacific
        • Middle East & Africa
        • South America
  • North America Automated Guided Vehicle Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
      • Key Findings
      • By Type (USD)
        • Tow Vehicles
        • Automated Forklift Trucks
        • Underride/ Tunneling Vehicles
        • Assembly Line Vehicles
        • Others (Unit Load Carriers)
      • By Navigation Technology (USD)
        • Laser Guided
        • Magnetic Guided
        • Vision Guided
        • Others (Wire Guided) 
      • By Application (USD)
        • Transportation & Distribution
        • Storage & Assembly
        • Packaging
      • By Industry (USD)
        • Automotive
        • Food & Beverage
        • E-commerce
        • Others (Healthcare, etc.)

Continued…

Quick Buy – Automated Guided Vehicle Market Research Report: https://www.fortunebusinessinsights.com/enquiry/queries/automated-guided-vehicle-agv-market-101966

Related Industry Research Report:

  • Facilities Management Market Size, Share | Growth Report [2030]
  • Logistics Robots Market Share & Growth | Global Report [2029
  • Connected Logistics Market Size, Share, Growth Drivers & Opportunities Forecast, 2026
  • Collaborative Robots Market Size & Share Analysis | Forecast Report [2023-2028]

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

Contact Us:

Fortune Business Insights Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy