Farmington, March 30, 2023 (GLOBE NEWSWIRE) -- The Global Automated Guided Vehicles Market Is Projected To Grow From USD 2.17 Billion In 2022 To USD 4.11 Billion By 2030, Exhibiting A CAGR Of 9.6% During The Forecast Period. Automated Guided Vehicle (AGV) systems help move and transport items in factories, warehouses, and distribution centers without permanent conveying systems or human help. Premium AGVs follow a configurable guided path to optimize storage, picking, and transport in places where premium AGVs are becoming more popular because of their many benefits, such as lower labor costs, less product damage, higher productivity, and the ability to grow to support automated processes. Because of these important benefits, transportation and logistics companies are more likely to use AGVs to improve operational efficiency. For instance, in May 2021, AUDI AG said that its manufacturing centers use AGVs. This helps plan the production process by letting them know which parts are out of stock and when they should be back in stock. It also makes it easier to carry the supply cart, which keeps you safe.
Request Sample Copy of Report “Automated Guided Vehicles Market Size, Share & Trends Estimation Report By Type (Tow Vehicles, Automated Forklift Trucks, Underride/Tunneling Vehicles, Assembly Line Vehicles, Others), By Navigation Technology (Laser Guided, Magnetic Guided, Vision Guided, Others), By Application (Transportation & Distribution, Storage & Assembly, Packaging), By Industry (Automotive, Food & Beverage, E-commerce, Others), By Region, And Segment Forecasts, 2022 - 2030”, published by Contrive Datum Insights.
Strategic Developments:
- In March 2021, Toyota Industries partnered with All Nippon Airways (ANA) to test Japan's first autonomous tow tractor at Saga Airport. The tow tractor uses 2D/3D LiDAR sensors to automatically detect objects in its path and allow the vehicle to automatically adjust its path.
- In February 2021, Daifuku partnered with AFT Industries, a German-based automation and conveyor technology company, to leverage the latter's expertise to improve material handling systems for the automotive industry. The partnership will focus on opening new channels to meet the global demand for material handling systems from automakers.
- In April 2020, EK Robotics launched the VARIO MOVE transport vehicle. It consists of a drive unit that can be flexibly equipped with various load handling attachments via a universal interface.
Regional Outlook:
In 2021, more than 31% of the market's revenue came from the European region. Also, the European market is expected to remain the largest market in the world over the next few years. The growth of the regional market is mostly due to the fact that manufacturers are buying more and more material handling equipment. Also, the growth of the market in this region was helped by automation in all fields. For example, in January 2022, PUMA SE said that it would add more automated robots with AI, cameras, and grippers. By adding more robots, the distribution center will save money on labor, be more productive, and be better able to put together orders for shoes and clothes.
During the time frame of the forecast, Asia Pacific is expected to grow at the fastest CAGR of 11.2%. In emerging economies in the Asia-Pacific region, like China and India, the e-commerce business is growing quickly. For example, in October 2021, Shenzhen Casun Intelligent Robot Co., Ltd., a company that makes automation machinery, released the CASUN intelligent robot "Little Giant." AGVs can load and unload in and out of warehouses and in different industries with the help of CASUN's self-placement intelligent control. Several e-commerce companies are thinking about going into these regional markets because e-commerce is growing.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 9.6% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 4.11 Billion |
| By Type | Tow Vehicles, Automated Forklift Trucks, Underride/Tunneling Vehicles, Assembly Line Vehicles, Others |
| By Navigation Technology | Laser Guided, Magnetic Guided, Vision Guided, Others |
| By Application | Transportation & Distribution, Storage & Assembly, Packaging, Others |
| By Industry | Automotive, Food & Beverage, E-commerce, Others |
| By Companies | Oceaneering International Inc. (U.S.), Toyota Advanced Logistics (Japan), Daifuku Co., Ltd. (Japan), KION GROUP AG (Germany), 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.), E&K Automation GmbH (Germany), HIT Robot Group (China), Swisslog Holding AG (Switzerland), Bastian Solutions, Inc., (U.S.), Dematic (U.S.), BALYO (France), KMH Fleet Solutions (U.S.) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Drivers:
Employee safety is a big deal in many industries, such as logistics and warehousing, manufacturing, metal and heavy machinery, and the auto industry, because workers do things that could be dangerous and have to work in dangerous environments. Many of these jobs put workers in danger because they have to do things by hand, like load, unload, store, and move goods. AGVs make workers safer and cut down on accidents.
Industry focuses on making workplaces safer so that accidents don't happen, downtime is cut down, and productivity goes up. More and more companies are putting AGVs in their warehouses as more people learn about them. These vehicles can move materials quickly and lift heavier weights. Intelligent driverless cars are less likely to make mistakes and can help businesses cut down on accidents and keep workers safe on the job.
Restraint:
Logistics is a big part of how well the e-commerce and retail industries work. Companies in the e-commerce and retail industries are choosing automated material handling equipment to improve operational efficiency. Companies in the e-commerce business use mobile robots to automate warehouse tasks.
In the e-commerce and retail industries, mobile robots are used as self-driving logistics vehicles for tasks that take place inside. A new way to automate a warehouse uses things like mobile shelves, robotic drives, complex control software, and workstations that automate the picking, packing, and shipping processes. Unlike conveyors, AGVs, carousels, and traditional ASRS, these portable solutions can adapt to changing product types and speeds, order priorities, and other operating realities. Mobile robots are also easier to set up and cost less to install and start up than AGVs. Because of these things, mobile robots may not be used as much in retail and online shopping.
Opportunities:
The first cost of an AGV solution is high because it depends on the type of battery and navigation technology that are built in. Due to high start-up costs, it is hard for small and medium-sized enterprises (SMEs) to use logistics automation technology. Most of these technologies can be used in large-scale industries. SMEs have trouble growing and making money because of things like rising labor costs (in developed countries like the US), quality problems, and a lack of skilled workers. So, even though the initial investment is high, SMEs are moving toward automated warehouse operations. This is because automation allows them to compete with larger market players around the world. AGVs help small and medium-sized businesses (SMEs) become more competitive and improve their productivity, efficiency, and profits in a big way. Many SMEs have started to invest in AGVs to make them more competitive on the global market. In the same way, AGVs are likely to be used by SMEs in the e-commerce, automotive, food and beverage, pharmaceutical, and chemical industries in the next few years.
Key Segments Covered:
Top Market Players:
Oceaneering International Inc. (U.S.), Toyota Advanced Logistics (Japan), Daifuku Co., Ltd. (Japan), KION GROUP AG (Germany), 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.), E&K Automation GmbH (Germany), HIT Robot Group (China), Swisslog Holding AG (Switzerland), Bastian Solutions, Inc., (U.S.), Dematic (U.S.), BALYO (France), KMH Fleet Solutions (U.S.), and others.
By Type:
- Tow Vehicles
- Automated Forklift Trucks
- Underride/Tunneling Vehicles
- Assembly Line Vehicles
- Others (Unit Load Carriers)
By Navigation Technology:
- Laser Guided
- Magnetic Guided
- Vision Guided
- Others (Wire Guided)
By Application:
- Transportation & Distribution
- Storage & Assembly
- Packaging
By Industry:
- Automotive
- Food & Beverage
- E-commerce
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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