Automated Guided Vehicle Market Share, Trends & Scope, Product Estimates & Strategy Framework To 2022 - 2030

The global automated guided vehicle market size is expected to reach USD 9.38 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to reach a CAGR of 10.2% from 2022 to 2030. Automated guided vehicles (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, these vehicles 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.

Automated Guided Vehicle Market Segmentation

Grand View Research has segmented the global automated guided vehicle market based on vehicle type, navigation technology, application, end use industry, component, battery type, and region: 

Based on the Type Insights, the market is segmented into Tow Vehicle, Unit Load Carrier, Pallet Truck, Forklift Truck, Hybrid Vehiclesand Others.

• The tow vehicle segment dominated the market in 2021 and accounted for a revenue share of over 40%.
• The unit load carrier segment is expected to rise at the fastest CAGR of 12.4% over the forecast period.

Based on the Navigation TechnologyInsights, the market is segmented into Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigationand Others.

• The laser guidance segment dominated the market in 2021 and accounted for a revenue share of over 35%.
• The natural navigation segment is expected to expand at the fastest CAGR of 17.4% over the forecast period.
• The vision guidance segment is expected to witness healthy growth over the forecast period.

Based on the Application Insights, the market is segmented into Logistics and Warehousing, Assembly, Packaging, Trailer Loading and Unloading, Raw Material Handlingand Others.

• The logistics and warehousing segment dominated the market in 2021 and accounted for a revenue share of over 40%.
• The assembly segment is expected to witness the fastest CAGR of 13.1% over the forecast period.

Based on the End-Use IndustryInsights, the market is segmented into Manufacturing Sectorand Wholesale and Distribution Sector.

• The manufacturing segment dominated the market in 2021 and accounted for a revenue share of over 75%.The manufacturing industry is further sub-segmented into aerospace & defense, automotive, electronics, pharmaceuticals, chemicals, plastics, FMCG, tissue, and others.
• Wholesale and distribution sector segment is expected to witness the fastest CAGR of 12.2% over the forecast period. Also, the wholesale & distribution sector is further sub-segmented into e-commerce, grocery stores, retail chains/conveyance stores, and hotels & restaurants.

Based on the Component Insights, the market is segmented into Hardware, Software and Service.

• The hardware segment dominated the market in 2021 and accounted for a revenue share of over 70%.
• The service segment is expected to witness the fastest CAGR of 11.7% over the forecast period.

Based on the Battery TypeInsights, the market is segmented into Lead Battery, Lithium-Ion Battery, Nickel-based Battery and Others.

• The lead battery segment dominated the market in 2021 and accounted for a revenue share of over 60%.
• The lithium-ion battery segment is expected to witness the fastest CAGR of 15.8% over the forecast period.
• The AGVs market is witnessing a progressive switch from lead-acid batteries to lithium-ion batteries. As compared to the lead-acid battery, lithium-ion batteries have higher costs.

Automated Guided VehicleRegional Outlook

• North America
• Europe
• Asia-Pacific
• South America
• MEA

Key Companies Profile& Market Share Insights

Increasing collaborations and mergers & acquisitions are expected to maximize the environmental and economic benefits for the market players by enabling them to share ideas and enhance their internal skills and technologies.

Some prominent players in the Automated Guided Vehicle market include

• Swisslog Holding AG
• Egemin Automation Inc.
• Bastian Solutions, Inc.
• Daifuku Co., Ltd.
• Dematic
• 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
• Transbotics (A division of Scott Systems International Incorporated)

Order a free sample PDF of the Automated Guided Vehicle Market Intelligence Study, published by Grand View Research.