Global Automated Guided Vehicle Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Automated guided vehicle systems are material handling systems featured with automatic control, these are unmanned vehicles, and these systems are mainly comprised of automated guided vehicle, guidance control system, devices for location determination and position sensing, infrastructure equipment, and various peripheral installation.

Global Automated Guided Vehicle Market Segments Size & Growth:

The market is expected to reach $9.103 Billion by 2024 from $3.393 Billion by 2017 at a CAGR of 18.5% during the forecast period 2018-2024. The key factors responsible for the market growth involves advancements in automation, reduction regarding cost of operation, highly secure environment and rise in popularity of automation among people. However, complex installation procedures are hampering the market growth.

Global Automated Guided Vehicle Market Segments Share:

The global automated guided vehicle market is segmented into type, technology, application and end user. Based on technology, automated guided vehicle market is categorised into laser automated guided vehicle, inductive guided vehicle, optical guided vehicle, vision-guided vehicle, and others. Among all these, laser guidance is the dominating AGV market as it is holding more than half of the market share and is expected to continue during the forecast. And the major impediment is lack of adequate charging facilities for plug-in segments in AGV market. Based on the type, AGV market is classified into Custom AGV, Standard EGV, Hybrid EGV, Compact EGV, AND Etow EGV systems. Among which standard EGV is classified into the clamp, tugger, unit load and others where the unit load is the largest segment, and it holds a fourth of the market share, as these are autonomous robots, which can carry one to eight unit loads at a time. Based on application, AGV market is bifurcated into packaging, shipping, transportation and others. Transportation segment is accounted for the significant share mainly due to the rapid urbanisation and increased industrial production. Based on end-user industries, AGV market is categorised into Automotive, food & beverage, consumer goods, and others. Among these end-user industries, automotive, food & beverage and logistics are majorly accounted for the largest market due to various applications in assembly lines and growing investments in automotive R&D activities are growing this market. Geographically, AGV’s market is segmented into APAC, North America, South America, Europe and the Middle East and Africa. Among these regions, APAC is the fastest growing in AGV market as there is increasing demand for AGV’S in automobile and retail sectors, augmentation of manufacturing companies owing to the cheap labour in emerging countries is driving the AGV’S market growth in APAC region. Developed nations in Europe and North America have the maximum share in AGV market because of technological changes and expenses.

Global Automated Guided Vehicle Market Trends:

• Lamborghini has launched the world’s fastest super SUV’s produced on multiple automated guided vehicles controlled by AGVE’s.
• A large-scale autonomous project ‘volvo cars drive me’ Gothenburg produced by AGV’s controlled by AGVE’s.

Global Automated Guided Vehicle Market Research Report includes:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The major market players are

• Daifuku Co. Ltd
• John Bean Technologies Corporation
• Omron Adept technologies
• Swisslog Holding AG
• Seegrid Corporation
• Toyota industries corporation