Automated Guided Vehicle Industry Outlook 2025-2029: Market Set to Cross $9.26 Billion Milestone

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How Large Will the Automated Guided Vehicle Market Size By 2025?
In recent years, the size of the automated guided vehicle market has seen rapid expansion. The market value is projected to increase from $5.15 billion in 2024 to $5.8 billion in 2025, with a compound annual growth rate (CAGR) of 12.6%. Factors such as market competition, demand, sustainability efforts, a rise in e-commerce activities, the progression of industrial automation, and cost efficiency have all contributed to the growth seen in the historic period.

How Big Is the Automated Guided Vehicle Market Size Expected to Grow by 2029?
In the coming years, the market of automated guided vehicles is predicted to experience a significant growth, hitting $9.26 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 12.4%. This projected growth during the anticipated period could be due to an increase in global logistics demand, augmentation in automation, advances in safety, adaptability, flexibility, and regulatory standards. The forecast period will also see significant trends such as integration with industry 4.0, autonomous warehousing, energy efficiency and sustainability, as well as increased flexibility and adaptability.

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Which Key Market Drivers Powering Automated Guided Vehicle Market Expansion and Growth?
The surge in online and brick-and-mortar retail ventures is predicted to fuel the growth of the automated guided vehicle market. E-commerce, which involves buying and selling goods and services through an electronic network, typically the internet, is seeing a swift rise due to evolving consumer tastes, enhanced convenience, and a personalized shopping experience. Automated guided vehicles are being increasingly used in e-commerce warehouses and retail centers for efficient materials handling, packaging, and supply chain management. For example, Shopify Inc., a Canadian e-commerce company, predicted in August 2023 that the global e-commerce industry would be valued at $6.3 trillion by 2023. This figure is expected to climb in coming years, accounting for 21.2% of all retail sales online by 2024. Moreover, according to a forecast by Forbes, an American business magazine and media company, in February 2023, the global e-commerce market could exceed $8.1 trillion by 2026. Thus, the expansion of e-commerce and retail industry is set to boost the automated guided vehicle market.

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Which Fast-Growing Trends Are Poised to Disrupt the Automated Guided Vehicle Market?
One emerging trend in the automated guiding vehicles market is the progression of technology. Major market leaders are continually focusing on the development of novel technologies such as the Internet of Things (IoT)-supported vehicles in order to maintain their standing in the automated guided vehicle market. IoT aims to interlink things through the internet, creating a connected network of physical objects. The objective is to have these smart physical objects operate independently by exchanging data. In particular, Murata Machinery USA, Inc., a US-based manufacturer of automated guided vehicles, declared in February 2022 an extensive range of autonomous guided vehicles (AGVs) called the A-Series. This particular series builds upon their previous Muratec Premex Series by introducing seven common base models that can be customized for wide-ranging load capacities, lift heights, navigation methods, temperature ratings, and software applications. The A-Series forklift, roller, and raise deck vehicles can accommodate weights from a few pounds up to 65 tons, lift heights reaching 36 feet, and can operate under extreme temperatures from -10 to 104 degrees Fahrenheit. This range includes all navigation systems, several safety precautions, and adheres to ANSI/ITSDF safety, ISO 3691-4 production standards, and Class 1 for sterile manufacturing environments.

What Are the Emerging Segments in the Automated Guided Vehicle Market?
The automated guided vehicle market covered in this report is segmented -

1) By Type: Two vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks
2) By Navigation Technology : Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation
3) By Application: Transportation, Distribution, Storage, Assembly, Packaging, Waste handling
4) By Industry: Automotive, Manufacturing, Food And Beverage, Aerospace, Healthcare, Logistics, Retail

Subsegments:
1) By Two Vehicles: Automated Towing Vehicles, Automated Transport Vehicles
2) By Unit Load Carriers: Shelf-Based Unit Load Carriers, Conveyor-Based Unit Load Carriers
3) By Pallet Trucks: Automated Pallet Jacks, Pallet Stackers
4) By Assembly Line Vehicles: Automated Assembly Line Carts, Conveyor AGVs
5) By Forklift Trucks: Automated Forklift Trucks, Reach Trucks

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Who Are the Global Leaders in the Automated Guided Vehicle Market?
Major companies operating in the automated guided vehicle market are Balyo, Daifuku Co Ltd., E&K Automation GmbH, JBT Corporation, Kuka AG, Oceaneering International Inc, Seegrid Corporation, Schaefer Systems International Inc., Toyota Material Handling, Swisslog Holding AG, Bastian Solution, Dematic, inVia Robotics Inc., Kollmorgen, Elettric80 S.P.A., Fetch Robotics Inc., Locus Robotics, Krones AG, SMARLOGY AGV and AMR, Wellwit Robotics, ADDVERB, AGVE GROUP, AGILOX, Creform Corporation, KMH Systems Inc., DF Automation and Robotics Sdn. Bhd., DS AUTOMOTION GmbH, Konecranes and Demag Private Limited, Egemin Automation Inc.

Which are the Top Profitable Regional Markets for the Automated Guided Vehicle Industry?
Asia-Pacific was the largest region in the automated guided vehicle market in 2024. The regions covered in the automated guided vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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