+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Automated Guided Vehicle - Global Market Trajectory & Analytics

  • ID: 4804450
  • Report
  • February 2022
  • Region: Global
  • 833 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ABB
  • Balyo, Inc.
  • Daifuku Co., Ltd.
  • Jungheinrich AG
  • KUKA AG
  • Seegrid Corporation

Global Automated Guided Vehicles Market to Reach $2.9 Billion by 2027


Amid the COVID-19 crisis, the global market for Automated Guided Vehicles estimated at US$1.9 Billion in the year 2020, is projected to reach a revised size of US$2.9 Billion by 2027, growing at a CAGR of 6.1% over the analysis period 2020-2027. Forklift Truck, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$922.6 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Tow Vehicle segment is readjusted to a revised 6.4% CAGR for the next 7-year period.



The U.S. Market is Estimated at $393.8 Million, While China is Forecast to Grow at 8.5% CAGR


The Automated Guided Vehicles market in the U.S. is estimated at US$393.8 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$503.2 Million by the year 2027 trailing a CAGR of 8.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR.

Pallet Truck Segment to Record 6% CAGR


In the global Pallet Truck segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$227.9 Million in the year 2020 will reach a projected size of US$336 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$333.4 Million by the year 2027, while Latin America will expand at a 6.7% CAGR through the analysis period.

Select Competitors (Total 73 Featured) -

  • ABB
  • Amerden Inc.
  • Balyo, Inc.
  • Bastian Solutions, Inc.
  • Daifuku Co., Ltd.
  • Hyster-Yale Materials Handling, Inc.
  • Jungheinrich AG
  • John Bean Technologies Corporation
  • KION Group AG
  • Dematic Group
  • Konecranes India Pvt. Ltd.
  • KUKA AG
  • Swisslog Holding AG
  • Murata Machinery, Ltd.
  • Seegrid Corporation
  • SSI Schaefer - Fritz Schaefer GmbH
  • Toyota Industries Corporation
  • Vanderlande Industries
  • Universal Robots A/S
Frequently Asked Questions about the Global Market for Automated Guided Vehicles

What is the estimated value of the Global Market for Automated Guided Vehicles?

The Global Market for Automated Guided Vehicles was estimated to be valued at $1.9 Billion in 2020.

What is the growth rate of the Global Market for Automated Guided Vehicles?

The growth rate of the Global Market for Automated Guided Vehicles is 6.2%, with an estimated value of $2.9 Billion by 2027.

What is the forecasted size of the Global Market for Automated Guided Vehicles?

The Global Market for Automated Guided Vehicles is estimated to be worth $2.9 Billion by 2027.

Who are the key companies in the Global Market for Automated Guided Vehicles?

Key companies in the Global Market for Automated Guided Vehicles include ABB, Amerden Inc., Balyo, Inc., Bastian Solutions, Inc., Daifuku Co., Ltd., Hyster, Yale Materials Handling, Inc., Jungheinrich AG and KION Group AG.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB
  • Balyo, Inc.
  • Daifuku Co., Ltd.
  • Jungheinrich AG
  • KUKA AG
  • Seegrid Corporation

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Automated Guided Vehicle (AGV)
  • Types of Automated Guided Vehicles
  • Forklift Truck
  • Tow Vehicle
  • Pallet Truck
  • Other Types of AGVs
  • Navigation Technology in AGVs
  • Applications of AGVs
  • Advantages of AGVs
  • Standards for AGVs
  • Focus on Automation & Production Efficiency, the Foundation for Growing Investments in AGV
  • Tow Vehicles: The Largest Vehicle Type Segment in the Global AGV Market
  • Asia-Pacific to Spearhead Future Growth, while the US and Europe Dominate AGV Market
  • Global Economic Outlook
  • Real GDP Growth Rates in % by Country/Region for the Years 2017 through 2020
  • Automated Guided Vehicles – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Focus on Implementing High Standards of Safety at Workplaces Favors AGV Market
  • Forklifts-related Accidents Raise Need for AGVs: Percentage Breakdown of Number of Fatalities Attributed to Forklift by Type of Accident in the US
  • AGVs: The Future of Manufacturing World
  • AGVs Assist in Enhancing Operational Efficiency of Factories
  • AGV Systems Promise to Transform the Logistics Marketplace
  • AGVs Transforming Intralogistic Processes in Factory Automation Space
  • Rapidly Growing Logistics Industry Presents Favorable Outlook for AGVs Market
  • Global Logistics Market Revenues in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • AGVs Offer Significant Benefits for Warehousing Operations
  • With Global E-Commerce Sales Skyrocketing, Emergence of E-Commerce Warehouses and Need to Automate Supply Chain Spurs Investments into AGVs
  • Robust Growth Anticipated for E-Commerce: An Opportunity to Tap for AGVs Market
  • Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
  • Global E-Commerce Market as a % of Retail Sales for the Period 2017-2023
  • Leading Retail E-Commerce Countries Worldwide: Ranked by Sales in $ Billion for 2019E
  • Rapid Adoption of Automation Technologies in Material Handling Processes Fuel AGVs Market Growth
  • AGVs Emerge as Important Constituents of Industry 4.0 Revolution and Shift towards Smart Manufacturing Facilities
  • As Industry 4.0 and Logistics 4.0 Come Together, AGVs to Play an Even Greater Role
  • Advancements Lead to Expanded Opportunities for AGVs
  • AGV System in Healthcare Settings: An Area of Growth
  • AGVs Increase Productivity in Maritime Industry
  • Automotive Industry: A Major End-Use Market for AGVs
  • Enabling Flexible and Efficient Production Operations: A Significant Advantage of AGVs in Automotive Industry
  • Navigation Technologies for AGVs in Automotive Assembly Lines
  • Automotive Companies Take the Lead in Automation of Automated Guided Vehicles
  • Increase in Automobile Production: An Opportunity for AGVs Market
  • Global Passenger Cars Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019, 2022
  • AGVs Adoption in Food & Beverage Manufacturing Bolstered by Flexibility, Scalability and Safety Advantages and Ability to Address Labor Shortage
  • Top Reasons for Adoption of AGVs in Food & Beverage Manufacturing
  • Global Sales of Processed Foods in US$ Billion for Years 2014, 2016, 2018 and 2020
  • Global Beverages Market in US$ Trillion for the Years 2018, 2020 & 2022
  • Charging of Battery-Operated AGVs Becomes a Challenge for Warehouses
  • With Electrically-driven AGVs Becoming Integral to Logistics Applications, Need for Sophisticated Charging Systems Gains Prominence
  • Growing Significance of AGVs in Process Automation Gives Rise to Safety Concerns
  • Emergence of Advanced Navigation Systems to Result in Greater Scalability and Flexibility of AGVs
  • Advances in Motion Control Technology to Play a Critical Role in Enhancing Efficiency and Reducing Footprint of AGVs
  • New Technologies with Tremendous Potential for AGVs Market
  • AGVs to Benefit from the Increasing Implementation of AI in Factories
  • Smart Technologies such as AI, IoT and Machine Learning Foster Development of Faster and Smarter AGVs
  • AGVs Address the Needs of SMEs
  • Issues Related to the Use of AGVs for Material Handling Applications
  • Autonomous Vehicles: The Ultimate Future of Material Handling Automation
  • Innovations & Advancements
  • Numerous Benefits Provided by AGVs to Drive their Adoption
  • ILIAD Project Seeks to Integrate Artificial Intelligence into Autonomous Forklifts
  • ASTI and 5TONIC Team Up to Research on Application of 5G Technology to AGVs
  • Rocla Develops New AGV Solution, Rocla ART, for Warehousing Operations
  • Mecfor Unveils AGV Prototype for Use in Aluminum Smelters

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Automated Guided Vehicle Manufacturing Market in the US: An Overview
  • Competitive Landscape
  • Market Analytics

CANADA

JAPAN

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Japan: A Growing Market for AGVs

CHINA

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • China’s AGV Market: Experiencing Strong Growth
  • Booming E-Commerce Market in China Spurs Demand for AGVs
  • Robust Growth of E-Commerce Market Bolsters Growth in AGVs Market: Chinese Retail E-Commerce Market Size in US$ Billion for the Years 2017, 2019, 2021 and 2023
  • Number of Online Shoppers in Millions in China for the Years 2018, 2020 and 2022
  • Leading Players
  • Leading Players in the Chinese Automated Guided Vehicle Market by Value Share (in %): 2019
  • Market Analytics

EUROPE

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Strong Online Retail Market Fuels Investments into AGVs
  • Market Analytics

FRANCE

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Rising Need for Automation Fosters Adoption of AGVs in Asia-Pacific

AUSTRALIA

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Flipkart Launches India’s First AGVs for Sortation Center
  • Market Analytics

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 73
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • ABB
  • Amerden Inc.
  • Balyo, Inc.
  • Bastian Solutions, Inc.
  • Daifuku Co., Ltd.
  • Hyster-Yale Materials Handling, Inc.
  • Jungheinrich AG
  • John Bean Technologies Corporation
  • KION Group AG
  • Dematic Group
  • Konecranes India Pvt. Ltd.
  • KUKA AG
  • Swisslog Holding AG
  • Murata Machinery, Ltd.
  • Seegrid Corporation
  • SSI Schaefer - Fritz Schaefer GmbH
  • Toyota Industries Corporation
  • Vanderlande Industries
  • Universal Robots A/S
Note: Product cover images may vary from those shown