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Automated Guided Vehicles - Global Market Trajectory & Analytics

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    Report

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

FEATURED COMPANIES

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

Global Automated Guided Vehicle Market to Reach $2.7 Billion by 2026


Automated Guided Vehicles or Automatic Guided Vehicles (AGVs) are computer controlled, wheel-based and driverless vehicles used for transporting material loads or products from one place to another. The term AGV includes all transport systems that are capable of operating without an onboard operator. Automated vehicles like pallets, carts or trays are programmed to move material loads between manufacturing and warehouse facilities without human intervention. These sophisticated machines use several guidance technologies like radio waves, lasers, floor-surface mounted magnetic tape or bars, optical sensors or vision cameras for navigation. The movement of the autonomous vehicle along the floor is controlled by a combination of CAD-based software and sensor-based guidance systems. The software determines pre-defined paths and directs the autonomous vehicle to pick-up/drop-off location. The routing decisions are based on real-time feedback received on operating conditions. The precisely controlled movements of AGVs, including acceleration, deceleration, and automatic obstacle detection bumpers ensure safe movement of material loads.

Amid the COVID-19 crisis, the global market for Automated Guided Vehicle estimated at US$2.2 Billion in the year 2022, is projected to reach a revised size of US$2.7 Billion by 2026, registering a compounded annual growth rate (CAGR) of 6.1% over the analysis period. Europe is projected to reach US$839.8 Million by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 8.5% over the analysis period. The strong focus shed on automation and production efficiency in the era of smart factory and industry 4.0 represents a key factor spurring investments in automated guided vehicles (AGVs). Smart manufacturing is the new revolution that will mark the next generation of production. Self-aware, self-optimized, self-configured equipment with the ability to wirelessly communicate with each other; advanced networking; real-time controls; more closer alignment of business management and plant floor activities and supply chains; additive manufacturing are few of the disruptive smart factory trends currently underway. Among these, automation lies at the heart of the smart factory concept. Almost like the beating heart, automation provides the foundation for the creation of knowledge-embedded manufacturing operations.

Benefits offered by AGVs include round the clock transit of materials; traceability that ensures that the plant manager remains informed of the material movement around the facility; ability to time-stamp pick-up, transit and delivery of items which can help in route optimization and improvements; ability to integrate information generated by AGVs into enterprise resource planning (ERP) or materials resource planning (MRP) systems; among others. There is also a growing trend in the market towards the use of multi-functional AGVs which in addition to transporting materials around the plant, can also perform other tasks which can enhance efficiency on the plant floor. For instance, when equipped with tool attachments like clamping mechanisms and positioning sensors and fixture, AGVs can also be made to perform assembly line functions.
AGVs are moving from wired operation to wireless operations. Traditional wired navigation involves the use of wires embedded into the plant floor. The signal emitted by the wire is then picked by a sensor integrated in AGVs which when propels the machine in the direction of the signal guiding it all along the wired floor. From guided to self-driving is a trend that need to be underlined given its ability to improve the efficiency of these vehicles by a factor of X. Laser-based perception or machine vision and navigation algorithms; innovations in a wide variety of sensors like hall-effect sensors, position sensors, and gyroscopes need to for context and environment/location awareness; on-board programmable logic controller (PLC) that controls acceleration or braking; embedded artificial intelligence that helps learn and take autonomous decisions in situations that are beyond the pre-programmed scenarios; are all enabling the development of self-driving, fully autonomous machines.

Tow vehicles represents the largest category in the global automated guided vehicles market. As the foremost designs to be available in the AGV space, tow vehicles are capable of functioning in varied environments and handle loads in the range of 2000-160000 pounds. Tow vehicles are utilized for bulk movement of goods in warehouses, assembly units and manufacturing facilities. Sectors using tow vehicles include aerospace, retail, automotive, and food and beverages, industries that involve extensive movement of goods over long distances and also between buildings or in outdoors. With the ability to move multiple pallet loads at a given time, tow vehicles have the potential to replace the use of manual trains and fork trucks. Due to their ability to haul more loads per trip, tow vehicles are known to enhance productivity in facilities.

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

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

FEATURED COMPANIES

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

I. METHODOLOGYII. 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 PERSPECTIVEIII. 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)
SPAINRUSSIAREST 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 KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Automated Guided Vehicles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST 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

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