Automated Guided Vehicle Market Key Players, End User Demand and Analysis Growth Trends

Robotic material handlers called automated guided vehicles are designed to move pallets, carts, trays, and other objects between different manufacturing and storage facilities. These facilities were set up to increase efficiency, which results in more output and a boost in the profit margin for the business. Nowadays, businesses prioritise efficiency more than ever before, therefore AGV systems help move and carry things in industrial facilities, warehouses, and distribution centres without the need for a permanent conveying system or user contact. AGVs are often used because of their many advantages, including lower labour costs, less product damage, more productivity, and the ability to expand to accommodate automated activities. Thus, the expansion of the market for automated guided vehicles is being driven by all these aspects.

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.

The size of the market and the size of numerous other dependent sub-markets of various marketspaces were estimated and validated using both the top-down and bottom-up methodologies. Secondary research was used to identify the major market participants, and primary and secondary research was used to ascertain their market shares in various applications across regions and internationally. This entire procedure involved studying the annual and financial reports of the leading market players and conducting in-depth interviews with top business executives, including CEOs, VPs, directors, and marketing executives, to gain important industry insights. All divides, breakdowns, and percentage calculations were made using secondary sources and confirmed using primary sources.

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Global Automated Guided Vehicle Market: Major Players
JBT
Siasun
Yonegy
Daifuku
Swisslog
EK AUTOMATION
Atab
Egemin
Rocla
MTD
Hitachi
Toyota
Seegrid
DS Automotion
Meidensha
Dematic
AGVE Group
Aichikikai
Aethon
CSTCKM

Global Automated Guided Vehicle Market: By Types
Tow Vehicle
Unit Load Carrier
Pallet Truck
Forklift Truck

Global Automated Guided Vehicle Market: By Applications
Logistics
Assembly & Packaging

Global Automated Guided Vehicle Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Automated Guided Vehicle market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Automated Guided Vehicle Market Report Highlights
• The manufacturing industry is increasingly adopting AGVs to save on labor costs. While AGV can operate on a 24x7 basis, the costs associated with the procurement and maintenance of AGV tend to be lesser than the costs incurred on salaries and employee benefits
• The logistics and warehousing segment happen to be the largest application of AGVs. The segment generated the highest revenue in 2021 and is expected to retain its dominance during the forecast period
• The European regional market dominated the global AGVs market in 2021. However, the Asia Pacific regional market is projected to expand at the highest CAGR from 2022 to 2030
• The adoption of material handling equipment and automation solutions is growing significantly across several industries
• The growing adoption of AGVs by the automotive industry as well as the automotive supply industry to move intermediate products within the facility is expected to drive the growth of the AGV market

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