The global automated guided vehicle market size was valued at USD 3.81 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030. Automated guided vehicle (AGV) systems assist to move and transport items in manufacturing facilities, warehouses, and distribution centers without any permanent conveying system or manual intervention. It follows configurable guide paths for optimization of storage, picking, and transport functions in the environment of premium space.
AGVs are being highly adopted owing to several benefits, such as reduced labor costs, reduced product damage, increased productivity, and scale to support automation processes. These notable advantages are encouraging the transportation and logistics firms to deploy AGVs in order to boost the efficiency of their operations. For instance, in May 2021, AUDI AG stated that they use AGVs in their manufacturing centers which helps them indirectly plan the production process to know which component is out of stock and needs to be available. Further, it also helps in carrying items supply trolleys which helps them maintain safety.
Retailing and other logistics-related companies are collaborating and partnering with tech giants to transform the material handling industry. For instance, in November 2021, OTSAW Digital Pte Ltd, an autonomous mobile robot solution, partnered with Swisslog Healthcare to develop automated guided vehicles for the healthcare sector to enable better patient care. Further, this partnership would expand their business by deploying AGV in Asia Pacific, Europe, and MEA. Besides, in February 2022, Siemens, a Germany-based industrial manufacturer, partnered with Parmley Graham Ltd. and AR Controls to build, design, and manufacture automated guided vehicles. The partnership and the launch of AGV would bring a lot of advantages such as low labor costs, reduced risk of workplace injury, logistics management, and faster delivery.
Furthermore, retail and commerce-based companies and businesses are deploying collaborative robots in their warehouses and expanding their businesses through acquisitions of large-scale cobot providers. For instance, in February 2022, SAVE MART SUPERMARKETS, a grocery store company, partners with Starship Technologies, a provider of autonomous delivery vehicles. The initiative aims to deliver groceries using the starship robot, a combination of artificial intelligence and machine learning. With the installation of the starship robot, SAVE MART SUPERMARKETS expanded its delivery area. Besides, in August 2021, Alta Equipment Company, a prominent solution provider for construction equipment, industrial forklifts material handling, and warehouse solutions, partnered with Vecna Robotics, an autonomous mobile robotics company and a provider of workflow optimization solutions and logistics automation. This partnership would deliver an autonomous mobile robotic solution to its customers for integrated-pallet handling, safe and versatile. The partnership aims to expand the Vecna Robotics business, whereas Alta Equipment would serve its customers with innovative class materials handling equipment. Further, in July 2021, ABB automation company, a Swedish multination corporation, acquired ASTI Mobile Robotics, specializing in automation solutions. This acquisition would let ABB expand into new industry segments by offering an automation portfolio.
Automated guided vehicles are being used in various end-use industries, such as logistics, automotive, healthcare, manufacturing, food & beverages, and others. Increased productivity and reduced labor costs are the key factors driving the need for industrial equipment. The demand for AGVs is expected to grow owing to the increasing automation in industries. Increasing industrialization has led to the continuous need for customized material handling and transport solutions for fueled efficiency. For instance, in November 2021, JBT, a technology solutions provider in the food and beverage industry, acquired Urtasun Technologia Alimentaria, a provider of vegetable and fruit processing solutions. This acquisition aims to scale JBT’s business globally by providing automated solutions in the food industry and letting Urtasun Technologia Alimentaria expand its product offerings.
The COVID - 19 outbreaks have created economic turmoil for almost every industry at the global level. Many organizations have suffered or are suffering losses due to a shortfall in productivity as governments across the world inflicted nationwide lockdown to control the epidemic's spread. The pandemic has resulted in a vast decline in profits and revenue for the manufacturing industry. Businesses have experienced a significant cut down of their staff resulting in an overall loss of manufacturing activities. SMEs (Small and Medium Enterprises) has been the worst hit due to substantial layoffs, financial crises, and attritions. Industrial automation and deployment of AGVs hold a crucial role in ensuring that businesses meet their certain production levels during such turmoil. The pandemic has brought numerous opportunities for the AGV market worldwide as it helps industries continue their production operations. For instance, in February 2022, AEROTECH US. launched AGV-XPO galvo scanner, a laser scan head that helps in high precision production of complex components in medical technology. Further, it enables minimal consequential errors and faster execution of aggressive paths. Besides WEWO, Techmotion provides AGVs in healthcare and pharma to transport medicines, foods, medical equipment, laundry, and sterile goods. These AGVs are also used for cleaning rooms, and controlled material validation, and flows.
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. Unit load AGVs are used for delivering pallets, large containers, and roll handling. Also, it provides the ability to schedule the task efficiently by reducing aisle traffic and product damage. For instance, in September 2021, Addverb Technologies Private Limited, a robotics and automation firm, announced its business expansion across Australia, Europe, and Singapore markets. This initiative was initiated in response to the growing need for unit load AGVs, robotics, and automation solutions in the global market.
Furthermore, unit load carrier AGVs are utilized in the place of fork truck that requires an employee to operate. Thus, these AGVs are great for long distances, repetitive tasks, and hazardous areas. Also, these are autonomous robots, which consequently reduce the requirement of human labor along with improving the worker’s safety. Trackable timing and product delivery are the added benefits of unit load carriers which make them efficient for the shipment of large products.
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. The need for intelligent and efficient routing is contributing to the increasing adoption of automated vehicles. Advances in computer vision and related software solutions are allowing AGVs to better analyze the environment in real-time, thereby boosting the demand for AGVs for operations in challenging environments, such as maneuvering significant components through narrow aisles.
For instance, in April 2021, Toyota Industries Corporation launched a global autonomous vehicle software company, “T-Hive,” to add solutions to all the vehicles produced with Toyota Industries Corporation. The customers would now be able to enjoy storage, seamless transportation, and distribution of goods due to the unified solution by T-Hive being implemented at logistics facilities around the world.
Furthermore, camera-based vision available in AGVs, which is complemented by the LiDAR sensors and computer systems, helps in ensuring accurate navigation within production facilities and warehouses. The cameras installed on these vehicles can assist with obtaining information and detecting obstacles. It can also help with analyzing the infrastructure in real-time within the facilities. The information provided by the LiDAR sensors and the cameras can help in the creation of a 3D image of the operational area. For instance, in July 2021, ElephantRobotics, a Chinese company specializing in robotics design, production, development, and intelligent manufacturing services, launched MyAGV with an A-5-megapixel camera 8-meter identification range, which would help detect obstacles and obtain information.
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. The logistics & warehousing segment has been further segmented into transportation, cold storage, wholesale & distribution, and cross-docking. Enterprises upgrading their existing facilities and building new facilities are aggressively adopting modern retrieval and automated storage systems and other material handling equipment to save on labor costs and boost efficiency and productivity.
For instance, in February 2021, SAFELOG GmbH, an automated transportation company, launched warehouse robots, SafeLogAGV L1 lifts which load up to 15000 kg. This model would enable cost-effective and efficient operation, operating in a swarm or individually.
Logistics & warehousing firms are trying to retain their competitiveness by opting for taller racks, compact layouts, and narrow aisles within their distribution facilities. At the same time, they are trying to boost the efficiency of their operations in line with the growing demand for their services. These firms are particularly deploying AGV solutions as they can maneuver accurately and efficiently through narrow aisles and compact layouts, along with the enhancement in the reliability of the storage process. The growing demand for AGVs from logistics & warehousing firms is expected to boost the growth of the AGVs market.
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. The growing adoption of AGVs across various industries can be attributed to the benefits offered by AGVs in terms of productivity, safety, and accuracy.
AGVs are equipped with cameras, laser heads, and other sensors, which help them in operating safely around machinery, structures, and employees. While operators can make errors that can lead to accidents and mishaps in a manufacturing or distribution facility, AGVs can help in improving the accuracy of the workflows, thereby reducing waste and augmenting productivity. For instance, in March 2021, GIDEON., an automation, and AI company installed its AGVs into a prominent regional food industries company Atlantic Grupa d.d., This installation would allow the company to have paperless operations and further increase the throughput of the central facility.
Aerospace & defense manufacturing facilities tend to be massive owing to the size of the components, such as fuselages, nacelles, engine pods, and wings, among others. However, the paths through which these components are moved within the facility tend to be narrow. Natural errors, while moving heavy elements through such narrow pathways, could lead to mishaps and accidents. Aerospace & defense companies are deploying automated guided vehicles so that heavy components can be moved within the facility on predefined routes and human errors can be avoided. For instance, in July 2021, Lodige Industries, a German-based automation company, installed its AGV at the Swissport with a loading capacity of 6,800 kg. The AGV installed would eliminate the ground transportation routes and improve flexibility, safety, and efficiency.
The hardware segment dominated the market in 2021 and accounted for a revenue share of over 70%. The growth can be attributed to the increasingly deployed collaborative robots for reduced human labor and repetitive tasks in manufacturing or distribution facilities. For instance, in June 2021, Amazon.com, Inc. designed new autonomous mobile robots, including Scooter, Ernie, Bert, and Kermit, to reduce human labor tasks and warehouse injuries. These robots would complete various tasks such as completing physical labor work to transporting totes. The service segment is expected to witness the fastest CAGR of 11.7% over the forecast period. The growth can be attributed to the growing demand among the end-users for various services, which include preventive and corrective maintenance, vehicle and software health check, and training employees involved directly or indirectly with the operation of AGVs.
AGVs have become a mainstay in distribution center operations and manufacturing facilities where tasks are highly repetitive and standardized. Based on the requirement, automated vehicles are available for various industries, such as pharmaceuticals, automotive, warehouses & distribution, and food & beverages, among others. Based on the intensity of the task, automated guided vehicles are available with different payload capacities from 3 kg up to 65 tons. The availability of the various hardware solutions in these vehicles, such as cobots, material handling equipment, gearheads, and actuators, among others has contributed to the largest share of the hardware segment in the market.
For instance, in January 2022, Doosan Robotics Inc., a collaborative robot (cobot) manufacturer, raised an investment of around USD 33.7 million to expand its global presence and strengthen its research and development for domestic and international markets.
The lead battery segment dominated the market in 2021 and accounted for a revenue share of over 60%. These batteries have low-cost advantages over other battery types. Besides, it offers good reversibility, stable voltage, and long service life, and is suitable for a wide range of applications. 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. Lithium-ion batteries support the high-power charge and discharge. Also, it meets different industry conditions of user demand, including excellent temperature performance, high energy density, and long-life cycle. These advantages of lithium-ion batteries are anticipated to encourage the AGV manufacturers to adopt lithium-ion among battery types. For instance, in July 2021, Flux Power, a manufacturing company for rechargeable lithium energy solutions, stated that lithium batteries used in AGV would help maintain high voltage levels. These batteries are highly efficient, high performing, low maintenance, and fast charging.
The Europe region dominated the market in 2021 and accounted for a revenue share of over 31%. Besides, the European regional market is projected to remain the dominating regional market over the forecast period. The growth of the regional market is primarily driven by the increasing demand for material handling equipment by the incumbents of the manufacturing industry. Furthermore, automation in every sector has also augmented the market’s growth in this region. For instance, in January 2022, PUMA SE announced that it would install more automated robots with a combination of artificial intelligence, cameras, and grippers. Adding more robots would reduce labor costs, increase productivity, and help assemble the order of shoes and clothing in the distribution center.
Asia Pacific region is expected to expand at the fastest CAGR of 11.2% over the forecast period. The e-commerce industry has been growing considerably in emerging economies of the Asia Pacific region, such as China and India. For instance, in October 2021, Shenzhen Casun Intelligent Robot Co., Ltd., an automation machinery manufacturing company, launched CASUN Intelligent Robot “little giant.” The CASUN’s self-deployed intelligent control lets AGV perform in and out of the warehouse to achieve and fulfill the loading and unloading in various industries. Such a surge in the e-commerce industry is encouraging several e-commerce companies to consider a foray into these regional markets.
The competition in the e-commerce industry is intensifying subsequently, and industry incumbents are trying to differentiate themselves by trying to reduce the time taken to deliver the products to the end-users. Deploying AGVs in warehouses is helping e-commerce companies in automating the intralogistics tasks, such as sorting, picking, and palletizing, thereby augmenting efficiency. The adoption of AGVs by the e-commerce industry is increasing substantially as industry incumbents try to roll out a reliable storage process and enhance efficiency.
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. For instance, in March 2022, Seegrid Corporation, an autonomous mobile robot provider, partnered with ROBEX. This initiative towards partnership would allow Seegrid Corporation to expand its business, and clients of ROBEX would also be introduced to Seegrid Corporation products. Further, this would help grow the demand for automation in supply chain management. It would also make it easier to supply clients and partners with complete end-to-end warehouse management solutions. Some prominent players in the automated guided vehicle market include:
Swisslog Holding AG
Egemin Automation Inc.
Bastian Solutions, Inc.
Daifuku Co., Ltd.
TOYOTA INDUSTRIES CORPORATION
Hyster-Yale Materials Handling, Inc.
E&K Automation GmbH
KMH Fleet Solutions
Fetch Robotics, Inc.
inVia Robotics, Inc.
Schaefer Systems International, Inc.
System Logistics Spa
Transbotics (A division of Scott Systems International Incorporated)
Market size value in 2022
USD 4.30 billion
Revenue forecast in 2030
USD 9.38 billion
CAGR of 10.2% from 2022 to 2030
Base year for estimation
2017 - 2020
2022 - 2030
Revenue in USD million and CAGR from 2022 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Vehicle type, navigation technology, application, end use industry, component, battery type, region
North America; Europe; Asia Pacific; South America; MEA
U.S.; Canada, Mexico; Germany; U.K.; France; China; Japan; India; Australia; South Korea; Brazil
Key companies profiled
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; and Scott; among others.
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This report provides forecasts for revenue growth at the global, regional, and country levels and analyses of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global automated guided vehicle market report on the basis of vehicle type, navigation technology, application, end use industry, component, battery type, and region:
Vehicle Type Outlook (Revenue, USD Million, 2017 - 2030)
Unit Load Carrier
Navigation Technology Outlook (Revenue, USD Million, 2017 - 2030)
Application Outlook (Revenue, USD Million, 2017 - 2030)
Logistics and Warehousing
Wholesale & Distribution
Trailer Loading and Unloading
Raw Material Handling
End-use Industry Outlook (Revenue, USD Million, 2017 - 2030)
Wholesale and Distribution Sector
Retail Chains/Conveyance Stores
Hotels and Restaurants
Component Outlook (Revenue, USD Million, 2017 - 2030)
Battery Type Outlook (Revenue, USD Million, 2017 - 2030)
Regional Outlook (Revenue, USD Million, 2017 - 2030)
Middle East and Africa (MEA)
b. The global automated guided vehicle market size was estimated at USD 3.81 billion in 2021 and is expected to reach USD 4.30 billion in 2022.
b. The global automated guided vehicle market is expected to grow at a compound annual growth rate of 10.2% from 2022 to 2030 to reach USD 9.38 billion by 2030.
b. Europe dominated the automated guided vehicle market in 2021 and accounted for a revenue share of over 30%.
b. Some key players operating in the AGV market include Swisslog Holding AG; Dematic; Bastian Solutions, Inc.; Daifuku Co., Ltd.; JBT; Seegrid Corporation; Hyster-Yale Materials Handling, Inc.; Kollmorgen; and KMH Fleet Solutions.
b. The lead battery segment dominated the AGV market in 2021 and accounted for a revenue share of over 60%.
b. The tow vehicle segment dominated the AGV market in 2021 and accounted for a revenue share of over 40%.
b. The laser guidance segment dominated the AGV market in 2021 and accounted for a revenue share of over 35%.
b. The logistics and warehousing segment dominated the AGV market in 2021 and accounted for a revenue share of over 40%.
b. The manufacturing segment dominated the AGV market in 2021 and accounted for a revenue share of over 75%.
b. The hardware segment dominated the AGV market in 2021 and accounted for a revenue share of over 70%.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for COVID-19 as a key market contributor.