AGV Market Booms with Increasing Automation in Manufacturing and Warehousing

Automated Guided Vehicle Market Size And Forecast by 2031

Data Bridge Market Research analyses that the global automated guided vehicle market, which was USD 2.54 billion in 2023, is expected to reach USD 4.06 billion by 2031, growing at a CAGR of 6.01% during the forecast period of 2024 to 2031.

Automated Guided Vehicle Market research report provides a comprehensive analysis of the market. The report aims to provide insights into Automated Guided Vehicle Market trends, growth opportunities, key drivers and challenges, competitive landscape, and other crucial factors that may impact the market in the forecast period (2024-2031).

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 Which are the top companies operating in the Automated Guided Vehicle Market?

The study report on the Global Automated Guided Vehicle Market offers a comprehensive analysis of the industry, highlighting key trends, market dynamics, and competitive landscape. It profiles prominent organizations operating in the market, examining their successful strategies and market share contributions. This Automated Guided Vehicle Market report provides the information of the Top 10 Companies in Automated Guided Vehicle Market in the market their business strategy, financial situation etc.

**Segments**

- On the basis of type, the global automated guided vehicle market can be segmented into tow vehicles, unit load carriers, pallet trucks, assembly line vehicles, and AGV forklifts. Tow vehicles are expected to witness significant growth due to their ability to transport heavy loads efficiently within manufacturing facilities. Unit load carriers are also gaining traction as they help in streamlining materials handling operations.
- Based on navigation technology, the market can be categorized into laser guidance, magnetic guidance, vision guidance, natural navigation, and others. Laser guidance systems are anticipated to dominate the market as they offer high precision and reliability in guiding AGVs within indoor environments. Magnetic guidance technology is also popular due to its cost-effectiveness and ease of installation.
- In terms of application, the automated guided vehicle market can be divided into logistics & warehousing, automotive, manufacturing, food & beverage, healthcare, and others. The logistics & warehousing segment is projected to hold a significant share owing to the increasing adoption of AGVs for material handling and inventory management in warehouses. The automotive industry is also a key application area for AGVs, especially for tasks such as assembly line operations and material transportation.

**Market Players**

- Daifuku Co., Ltd.
- Dematic (KION Group)
- JBT
- KUKA AG
- Toyota Industries Corporation
- Hyster-Yale Materials Handling, Inc.
- E&K Automation GmbH
- Seegrid Corporation
- SSI Schaefer AG
- Oceaneering International, Inc.

For a detailed analysis of the Global Automated Guided Vehicle Market, please visit: https://www.databridgemarketresearch.com/reports/global-automated-guided-vehicles-marketThe global automated guided vehicle (AGV) market is experiencing significant growth attributed to the increasing adoption of automation in various industries. The market segmentation based on type includes tow vehicles, unit load carriers, pallet trucks, assembly line vehicles, and AGV forklifts. Tow vehicles are witnessing substantial growth due to their efficiency in transporting heavy loads within manufacturing facilities. Unit load carriers are also gaining traction for streamlining materials handling operations. AGV forklifts are crucial for enhancing productivity in warehouses and manufacturing facilities. Segmentation by navigation technology includes laser guidance, magnetic guidance, vision guidance, natural navigation, and others. Laser guidance systems are dominating the market due to their precision and reliability, particularly in indoor environments. Magnetic guidance technology is also popular for its cost-effectiveness and easy installation, making it a preferred choice for many industries.

In terms of applications, the AGV market is segmented into logistics & warehousing, automotive, manufacturing, food & beverage, healthcare, and others. The logistics & warehousing segment holds a significant share due to the rising adoption of AGVs for material handling and inventory management in warehouses. AGVs play a crucial role in optimizing warehouse operations by efficiently moving goods and minimizing manual labor. The automotive industry is another key application area for AGVs, particularly for tasks like assembly line operations and material transportation. AGVs help in improving efficiency, reducing operational costs, and ensuring workplace safety in manufacturing environments.

Key players in the global AGV market include Daifuku Co., Ltd., Dematic (KION Group), JBT, KUKA AG, Toyota Industries Corporation, Hyster-Yale Materials Handling, Inc., E&K Automation GmbH, Seegrid Corporation, SSI Schaefer AG, and Oceaneering International, Inc. These companies are focusing on product innovations, strategic partnerships, and acquisitions to strengthen their market position and meet the evolving demands of various industries. The competitive landscape of the AGV market is characterized by technological advancements, customization services,**Market Players**

- Daifuku Co., Ltd.
- Dematic (KION Group)
- JBT
- KUKA AG
- Toyota Industries Corporation
- Hyster-Yale Materials Handling, Inc.
- E&K Automation GmbH
- Seegrid Corporation
- SSI Schaefer AG
- Oceaneering International, Inc.

**Additional Market Players**

- Robert Bosch GmbH (Germany)
- Hanwha Techwin Co., Ltd. (South Korea)
- Honeywell International Inc. (U.S.)
- Schneider Electric (France)
- Axis Communications AB (Sweden)
- Johnson Controls (Ireland)
- Hangzhou Hikvision Digital Technology Co., Ltd. (China)
- NetApp (U.S.)
- Dahua Technology (China)
- KEDACOM (China)
- Verint Systems Inc. (U.S.)
- LTIMindtree Limited (India)
- AxxonSoft. (U.S.)
- eInfochips (U.S.)
- Panasonic Holdings Corporation (Japan)
- Panopto (U.S.)
- Backstreet Surveillance (U.S.)
- Eagle Eye Solutions Group Plc. (U.S.)
- Arcules, Inc. (U.S.)

The global automated guided vehicle (AGV) market is currently witnessing significant growth driven by the increasing adoption of automation across various industries. The market segments based on type such as tow vehicles, unit load carriers, pallet trucks, assembly line vehicles, and

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Regional Analysis For Automated Guided Vehicle Market

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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This report provides Global Automated Guided Vehicle Market :

An in-depth overview of the global market for
Automated Guided Vehicle Market Assessment of the global industry trends, historical data from 2015, projections for the coming years, and anticipation of compound annual growth rates (CAGRs) by the end of the forecast period.
Discoveries of new market prospects and targeted marketing methodologies for Global Automated Guided Vehicle Market
Discussion of R&D, and the demand for new products launches and applications.
Wide-ranging company profiles of leading participants in the industry.
The composition of the market, in terms of dynamic molecule types and targets, underlining the major industry resources and players.
The growth in patient epidemiology and market revenue for the market globally and across the key players and Automated Guided Vehicle Market segments.
Study the market in terms of generic and premium product revenue.
Determine commercial opportunities in the market sales scenario by analyzing trends in authorizing and co-development deals.
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