Automated Guided Vehicle Market

Automated Guided Vehicle Market by Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks), Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance), Industry, Region - Global Forecast to 2028

Report Code: SE 3351 Jul, 2023, by marketsandmarkets.com

The automated guided vehicle market size is estimated to be valued USD 2.4 billion in 2023 and is anticipated to reach USD 3.3 billion by 2028, at a CAGR of 6.9% during the forecast period. The market growth is ascribed to rising demand for automation solution in a variety of industries, increased focus on enhancing workplace safety, and marked shift to mass customization from mass production.

Automated Guided Vehicle Market

Automated Guided Vehicle Market

Automated Guided Vehicle Market Forecast to 2028

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Automated Guided Vehicle Market Trends

Driver: Rising demand for automation solution in a variety of industries

The market for automated guided vehicle (AGVs) is being significantly stimulated by the rising demand for warehouse automation. The overall need for high efficiency in the automotive, healthcare, e-commerce, food & beverages, logistics, and manufacturing industries is increasing the demand for automation. AGV-enabled automation of industrial facilities can help meet the requirements related to material handling capacity, along with reducing production time, lessening the chances of human errors, enhancing safety, ensuring high production volumes, and increasing accuracy and repeatability.

The use of AGVs enables just-in-time (JIT) delivery of raw material, computerized control of received assembled parts, and tracking of shipped articles. AGVs help store, distribute, and transport material without human intervention, thereby ruling out the possibilities of injuries to workers and damage to products and also with greater accuracy. Further, AGVs reduce labor costs for long-term perspective in warehouses in many ways. For instance, by replacing a human worker with an AGV, a company pays a one-time expense for the equipment—the initial investment—contrary to various ongoing costs relevant to labor.

Furthermore, the deployment of AGV enables companies in various industries to apply new technologies that would deliver immediate value and long-term returns. This trend is driving the need for information-enabled systems such as AGVs that can help industries to manage plant assets and make better operational decisions.

Restraint: Growing acceptance of AMRs over AGVs in e-commerce and retail industry

The logistics sector plays a crucial role in ensuring smooth operations for the e-commerce and retail industries. To enhance operational efficiency, companies in these sectors are increasingly turning to automated material handling equipment. In the realm of e-commerce, mobile robots have gained popularity as a means to automate warehouse operations.

Mobile robots serve as self-driving logistics vehicles for indoor tasks within the e-commerce and retail industries. Their suitability for these fast-paced sectors stems from their ability to handle unstructured environments more effectively and adapt their routes accordingly. Moreover, they can interact directly with people and manipulate objects, speeding up the picking and packing processes when compared to Automated Guided Vehicles (AGVs). Recent technological advancements have significantly improved the performance and reliability of mobile robots, making them a viable alternative. These portable solutions easily adapt to changes in product types, velocities, order prioritization, and other operational requirements, setting them apart from conveyors, AGVs, carousels, and traditional Automated Storage and Retrieval Systems (ASRS). Additionally, the installation and commissioning cost of mobile robots are lower than AGVs, and their ease of installation further adds to their appeal. As a result, these characteristics of mobile robots may restrain the widespread adoption of AGVs in the retail and e-commerce industries.

Opportunity: Rising deployment of Industry 4.0 in warehouses

Traditional industrial facilities are slowly evolving into smart, connected, and highly efficient automated facilities by adopting Industry 4.0 principles. Industry 4.0 is capable of converting an industrial facility into an autonomous plant. It combines computers, industrial automation solutions, and robotics to form a single automated unit. The network of connected devices creates a smart architecture capable of making decentralized decisions. The growth of Industry 4.0 is changing the functioning of warehouses. Industry 4.0 also aims to create an operational environment wherein humans and robots can work together efficiently. Furthermore, the integration of Industry 4.0 and robotics would transform processes into an industrial space with improved coordination between automation systems. This integration will facilitate time-critical, high-velocity operations at lower costs in the highly demanding and continuously evolving supply chain ecosystem.

The adoption of Industry 4.0 technologies in warehousing has enabled effective communication between warehouse operations. It increases the coordination between warehouse systems and helps warehouse operators perform time-critical and high-velocity operations at a lower cost in the highly demanding and continuously evolving supply chain ecosystem. This, in turn, is expected to create growth opportunity for AGVs.

Challenge: Low labor costs restricting adoption of AGVs in emerging economies

Low labor wage rates in emerging economies such as India, Bangladesh, and Tanzania restrict the adoption of automated technologies across industries in these countries. The automation of industrial facilities makes little or no economic sense in these countries where cheap labor is available in abundance. The average daily wage of a semiskilled worker in India is ~USD 3. In these emerging economies, automation in manufacturing facilities is less prevalent than in other developed countries since the cost advantage in labor trade-off with robots is less due to the availability of cheap labor. Emerging countries such as Bangladesh, Cuba, and Tanzania have very low average daily wages. Thus, companies in emerging countries are reluctant to invest in automated equipment, such as AGVs. Various operations in the manufacturing sector of emerging economies are carried out by human laborers as the combination of manual efforts with precise and semiautomatic machines proves to be profitable to them.

Market Ecosystem

Automated Guided Vehicle Market by Ecosystem

Automated Guided Market Market: Key Trends

Daifuku, JBT, KION, Toyota Industries, KUKA are the top players in the AGV market. These AGV companies with advance robotics and AI technology trends and navigation technology with a comprehensive product portfolio and solid geographic footprint.  

Tow vehicle segment accounted for the largest share of automated guided vehicle market in 2022

The tow vehicles segment held the largest share of the AGV market in 2022.  Towing AGVs offer the advantage of simultaneously transporting multiple trolleys, leading to a reduced need for vehicles and increased productivity. These tow vehicles are specifically utilized in pallet operations that involve frequent long-distance deliveries, carrying substantial loads, and may or may not include intermediate pickup and drop points along the route. They are thoughtfully designed to operate at pre-programmed speeds, effectively meeting production targets while adhering to safety regulations. The growth of this segment can be attributed to the widespread adoption of these vehicles across various industries, including automotive, manufacturing, aerospace, and logistics. In these sectors, where the efficient and timely transportation of heavy loads is essential, towing AGVs have proven indispensable due to their numerous advantages.

Laser guidance navigation technology to account for the largest share in the market during forecast period.

The Laser guidance navigation technology account for the largest share in the market during forecast period. Laser guidance provides high accuracy and precision in AGV navigation, enabling them to navigate with exceptional precision and avoid obstacles effectively. Laser guidance technology's popularity stems from its ability to adapt and excel in various environments. Furthermore, its proven success and widespread implementation in industries like manufacturing, logistics, and warehousing solidify its market dominance. Technological advancements, such as improved sensors and software algorithms, continually strengthen its position in the market. The growth of this segment can be attributed to the flexibility, scalability, and accuracy offered by laser guidance technology. It also improves safety, increases throughput, and minimizes downtime.

Asia Pacific region to grow at a highest CAGR during the forecast period.

The AGV market in Asia Pacific has been segmented into China, Japan, Australia, South Korea, India, Malaysia, Taiwan, Indonesia, and Rest of Asia PAcific. Currently, the adoption of automated material handling systems in the industrial sector in Asia Pacific is moderate. The AGV market in Asia Pacific is expected to grow at the highest CAGR during the forecast period due to growing awareness about automation and its success among users, thereby encouraging more companies to invest in these vehicles. Moreover, the strong economic growth in this region is attracting further investments from AGV suppliers for establishing sales and support facilities. The growth of the AGV market in Asia Pacific can be attributed to the rising labor costs, need for scaling up production processes without compromising on quality standards, and incentives offered by the governments of various countries for industrial infrastructure improvement projects.

Automated Guided Vehicle Market by Region

Automated Guided Vehicle Market by Region

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Key Market Players

The major companies in the Automated Guided Vehicle companies are Daifuku, JBT, KION, Toyota Industries, KUKA, Hyster-Yale Materials Handling, Oceaneering International and EK Robotics are among others. These companies have used both organic and inorganic growth strategies, such as product launches, acquisitions, and partnerships to strengthen their position in the automated guided vehicle market.

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Scope of the Report

Report Metric

Details

Estimated Value USD 2.4 billion in 2023
Projected Value USD 3.3 billion by 2028
Growth Rate CAGR of 6.9% 

Years Considered

2019–2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD million/billion)

Segments Covered

Type, Navigation Technology, Industry, and Region

Regions covered

North America, Asia Pacific, Europe, and Rest of the World

Companies covered

Daifuku (Japan), JBT (US), KION (Germany), Toyota Industries (Japan), KUKA (Germany).
A total of 25 players are covered.

Automated Guided Vehicle Market Highlights

In this report, the overall automated guided vehicle market has been segmented based on Type, Navigation Technology, Industry, and Region

Segment

Subsegment

By Type

  • Tow Vehicles
  • Unit Load Carriers
  • Pallet Trucks
  • Assembly Line Vehicles
  • Forklift Vehicles
  • Others

By Navigation Technology

  • Laser Guidance
  • Magnetic Guidance
  • Inductive Guidance
  • Optical Tape Guidance
  • Vision Guidance
  • Others

By Industry

  • Automotive
  • Chemicals
  • Aviation
  • Semiconductor & Electronics
  • E-commerce
  • Food & Beverage
  • Healthcare
  • Metals & Heavy Machinery
  • 3PL
  • Others

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Australia
    • South Korea
    • India
    • Malaysia
    • Taiwan
    • Indonesia
    • Rest of Asia Pacific
  • Rest of the World
    • South America
    • Africa
    • Middle East

Recent Developments

  • In April 2023, EK Robotics launched MEDI MOVE, a new transport platform for the health care industry. With its customized design and high performance, the MEDI MOVE has been designed Automated transport system in hospitals. This AGVs navigates through underground route networks as well as over several floors to deliver to hospital wards, sterile departments and nursing areas.
  • In September 2022, Toyota Industries launched lift truck, an AI-based technology that automatically recognizes the location and position of trucks and loads and generates automated travel routes to perform loading operations.
  • In April 2021, JBT lntroduced warehouse freezer AGV, which can operate in an array of temperatures, from -10ºF to 110ºF. Offering operations a lift capacity of 2,500 pounds, the automatic guided vehicle (AGV) features a triple stage hydraulic mast, which has an integrated side shift and tilt.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 24)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 AUTOMATED GUIDED VEHICLE MARKET SEGMENTATION
           1.3.2 GEOGRAPHIC SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
    1.7 RECESSION IMPACT ANALYSIS 
 
2 RESEARCH METHODOLOGY (Page No. - 28)
    2.1 RESEARCH DATA 
           FIGURE 2 AUTOMATED GUIDED VEHICLE MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Primary interviews with experts
                    2.1.2.2 Breakdown of primary interviews
                    2.1.2.3 Key data from primary sources
           2.1.3 SECONDARY AND PRIMARY RESEARCH
                    2.1.3.1 Key industry insights
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach to derive market size using bottom-up analysis
                               FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach to derive market size using top-down analysis
                               FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
                               FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY-SIDE): REVENUE GENERATED BY KEY PLAYERS FROM AUTOMATED GUIDED VEHICLES
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 6 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
           FIGURE 7 ASSUMPTIONS FOR RESEARCH STUDY
    2.5 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT ON AUTOMATED GUIDED VEHICLE MARKET 
    2.6 RESEARCH LIMITATIONS 
    2.7 RISK ASSESSMENT 
           FIGURE 8 RISK ASSESSMENT OF RESEARCH STUDY
 
3 EXECUTIVE SUMMARY (Page No. - 39)
    FIGURE 9 AUTOMATED GUIDED VEHICLE MARKET, 2019−2028 (USD MILLION)
    FIGURE 10 TOW VEHICLES SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2022
    FIGURE 11 LASER GUIDANCE SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
    FIGURE 12 AUTOMOTIVE SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2022
    FIGURE 13 ASIA PACIFIC MARKET TO REGISTER HIGHEST CAGR FROM 2023 TO 2028
 
4 PREMIUM INSIGHTS (Page No. - 43)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AUTOMATED GUIDED VEHICLE MARKET 
           FIGURE 14 RISING DEMAND FOR AUTOMATION SOLUTIONS IN VARIOUS INDUSTRIES TO DRIVE MARKET
    4.2 AUTOMATED GUIDED VEHICLE MARKET, BY TYPE 
           FIGURE 15 TOW VEHICLES SEGMENT TO ACCOUNT FOR LARGEST MARKET SIZE IN 2023
    4.3 AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY 
           FIGURE 16 LASER GUIDANCE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.4 AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY 
           FIGURE 17 AUTOMOTIVE SEGMENT TO LEAD MARKET FROM 2023 TO 2028
    4.5 AUTOMATED GUIDED VEHICLE MARKET, BY COUNTRY 
           FIGURE 18 AUTOMATED GUIDED VEHICLE MARKET TO WITNESS HIGHEST CAGR IN CHINA DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 46)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 19 AUTOMATED GUIDED VEHICLE MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Rising demand for automation solutions in various industries
                    5.2.1.2 Increased focus on enhancing workplace safety
                    5.2.1.3 Marked shift to mass customization from mass production
                               FIGURE 20 IMPACT ANALYSIS OF DRIVERS
           5.2.2 RESTRAINTS
                    5.2.2.1 High installation, maintenance, and switching costs associated with AGVs
                    5.2.2.2 Increasing preference for mobile robots over AGVs in retail and e-commerce industries
                    5.2.2.3 Lack of flexibility and obstacle resistance in AGVs
                               FIGURE 21 IMPACT ANALYSIS OF RESTRAINTS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growing implementation of Industry 4.0 technologies in warehousing sector
                    5.2.3.2 Increasing focus on industrial automation by SMEs
                    5.2.3.3 Substantial growth of industrial sector in emerging economies
                    5.2.3.4 Presence of huge intralogistics sector in Southeast Asia
                               FIGURE 22 IMPACT ANALYSIS OF OPPORTUNITIES
           5.2.4 CHALLENGES
                    5.2.4.1 Low labor costs restricting adoption of AGVs in emerging economies
                    5.2.4.2 Technical challenges related to sensing elements
                               FIGURE 23 IMPACT ANALYSIS OF CHALLENGES
    5.3 VALUE CHAIN ANALYSIS 
           FIGURE 24 VALUE CHAIN ANALYSIS OF AUTOMATED GUIDED VEHICLE MARKET
           TABLE 1 LIST OF AGV BRANDS
    5.4 ECOSYSTEM ANALYSIS 
           FIGURE 25 AUTOMATED GUIDED VEHICLE MARKET: ECOSYSTEM ANALYSIS
           TABLE 2 AUTOMATED GUIDED VEHICLE MARKET: ECOSYSTEM
    5.5 PRICING ANALYSIS 
           5.5.1 PRICING ANALYSIS OF AGVS OFFERED BY KEY PLAYERS
                    FIGURE 26 ASP OF AUTOMATED GUIDED VEHICLES, BY TYPE
                    TABLE 3 APPROXIMATE AVERAGE SELLING PRICE OF AUTOMATED GUIDED VEHICLES BASED ON TYPE, BY COMPANY (USD)
           5.5.2 AVERAGE SELLING PRICE TREND
                    TABLE 4 AVERAGE SELLING PRICE OF AUTOMATED GUIDED VEHICLES, BY TYPE
                    TABLE 5 AVERAGE SELLING PRICE OF AUTOMATED GUIDED VEHICLES, BY REGION
                    FIGURE 27 AVERAGE SELLING PRICE OF AUTOMATED GUIDED VEHICLES, 2019−2028
    5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           FIGURE 28 REVENUE SHIFT FOR AUTOMATED GUIDED VEHICLE MARKET
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 INTERNET OF THINGS (IOT)
           5.7.2 COLLABORATIVE ROBOTICS (COBOTS)
           5.7.3 5G
           5.7.4 ARTIFICIAL INTELLIGENCE (AI)
           5.7.5 MACHINE LEARNING (ML)
    5.8 PORTER’S FIVE FORCES ANALYSIS 
           FIGURE 29 AUTOMATED GUIDED VEHICLE MARKET: PORTER’S FIVE FORCES ANALYSIS
           TABLE 6 AUTOMATED GUIDED VEHICLE MARKET: PORTER’S FIVE FORCES ANALYSIS
    5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 30 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 INDUSTRIES
                    TABLE 7 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 INDUSTRIES (%)
           5.9.2 BUYING CRITERIA
                    FIGURE 31 KEY BUYING CRITERIA FOR TOP 3 INDUSTRIES
                    TABLE 8 KEY BUYING CRITERIA FOR TOP 3 INDUSTRIES
    5.10 CASE STUDY ANALYSIS 
           TABLE 9 MARKET ASSESSMENT FOR OUTDOOR AUTOMATED GUIDED VEHICLES
           TABLE 10 MARKET ASSESSMENT FOR CUSTOM-ENGINEERED AUTOMATED GUIDED VEHICLES
           TABLE 11 MARKET ASSESSMENT FOR LARGE AUTOMATED GUIDED VEHICLE FLEET
           TABLE 12 MARKET ASSESSMENT FOR LASER-GUIDED TUGGER VEHICLES
    5.11 TRADE ANALYSIS 
           5.11.1 IMPORT SCENARIO
           FIGURE 32 IMPORTS, BY KEY COUNTRY, 2018–2022 (USD MILLION)
           5.11.2 EXPORT SCENARIO
           FIGURE 33 EXPORTS, BY KEY COUNTRY, 2018–2022 (USD MILLION)
    5.12 PATENT ANALYSIS 
           FIGURE 34 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
           TABLE 13 TOP 20 PATENT OWNERS IN US IN LAST 10 YEARS
           FIGURE 35 NUMBER OF PATENTS GRANTED PER YEAR FROM 2013 TO 2022
           TABLE 14 RECENT PATENTS RELATED TO AUTOMATED GUIDED VEHICLE MARKET
    5.13 KEY CONFERENCES AND EVENTS, 2023–2025 
           TABLE 15 AUTOMATED GUIDED VEHICLE MARKET: CONFERENCES AND EVENTS
    5.14 REGULATORY LANDSCAPE 
           5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 16 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 17 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 18 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 19 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.14.2 STANDARDS AND REGULATIONS RELATED TO AUTOMATED GUIDED VEHICLE MARKET
           5.14.3 SAFETY STANDARDS FOR AUTOMATED GUIDED VEHICLES
                    TABLE 20 SAFETY STANDARDS FOR AUTOMATED GUIDED VEHICLES
 
6 EMERGING TECHNOLOGIES AND APPLICATIONS OF AGVS (Page No. - 76)
    6.1 INTRODUCTION 
           FIGURE 36 EMERGING TECHNOLOGIES USED IN AGVS
    6.2 EMERGING TECHNOLOGIES USED IN AGVS 
           6.2.1 LIDAR SENSORS
           6.2.2 CAMERA VISION
           6.2.3 DUAL-MODE AGVS
    6.3 LATEST APPLICATIONS OF AGVS 
           6.3.1 HOSPITALS
           6.3.2 THEME PARKS
 
7 BATTERY TYPES AND CHARGING ALTERNATIVES FOR AGVS (Page No. - 79)
    7.1 INTRODUCTION 
    7.2 TYPES OF BATTERIES USED IN AGVS 
           FIGURE 37 TYPES OF BATTERIES USED IN AGVS
           7.2.1 LEAD-ACID BATTERIES
           7.2.2 LITHIUM-ION BATTERIES
           7.2.3 NICKEL-BASED BATTERIES
           7.2.4 OTHERS
    7.3 BATTERY CHARGING ALTERNATIVES 
           7.3.1 AUTOMATIC AND OPPORTUNITY CHARGING
                    7.3.1.1 Wireless charging
           7.3.2 BATTERY SWAP
                    7.3.2.1 Automatic battery swap
 
8 OFFERINGS IN AUTOMATED GUIDED VEHICLE MARKET (Page No. - 82)
    8.1 INTRODUCTION 
           FIGURE 38 OFFERINGS IN AUTOMATED GUIDED VEHICLE MARKET
    8.2 HARDWARE 
    8.3 SOFTWARE & SERVICES 
    8.4 AGVS WITH DIFFERENT PAYLOAD CAPACITIES 
           FIGURE 39 MARKET SHARE OF AGVS WITH DIFFERENT PAYLOAD CAPACITIES
 
9 RECENT TRENDS IN AUTOMATED GUIDED VEHICLES (Page No. - 84)
    9.1 INTRODUCTION 
    9.2 INTERNET OF THINGS CONNECTIVITY 
    9.3 ADOPTION OF COLLABORATIVE AGVS 
    9.4 SCALABILITY AND MODULAR DESIGN 
    9.5 ADVANCED NAVIGATION TECHNOLOGIES 
    9.6 ENERGY EFFICIENCY AND SUSTAINABILITY 
 
10 AUTOMATED GUIDED VEHICLE MARKET, BY TYPE (Page No. - 86)
     10.1 INTRODUCTION 
           FIGURE 40 AUTOMATED GUIDED VEHICLE MARKET, BY TYPE
           FIGURE 41 TOW VEHICLES SEGMENT TO ACCOUNT FOR LARGEST MARKET SIZE IN 2023
           TABLE 21 AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
           TABLE 22 AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
     10.2 TOW VEHICLES 
             10.2.1 CAN CARRY LIMITED VARIETY OF LOADS WITH SIMPLER GUIDE PATH
                        TABLE 23 TOW VEHICLES: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2019–2022 (USD MILLION)
                        TABLE 24 TOW VEHICLES: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2023–2028 (USD MILLION)
                        TABLE 25 TOW VEHICLES: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 26 TOW VEHICLES: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.3 UNIT LOAD CARRIERS 
             10.3.1 IDEAL FOR HANDLING LARGE VOLUMES OF LOAD
                        TABLE 27 UNIT LOAD CARRIERS: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2019–2022 (USD MILLION)
                        TABLE 28 UNIT LOAD CARRIERS: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2023–2028 (USD MILLION)
                        TABLE 29 UNIT LOAD CARRIERS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 30 UNIT LOAD CARRIERS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.4 PALLET TRUCKS 
             10.4.1 IDEAL FOR GROUND-LEVEL OPERATIONS
                        TABLE 31 PALLET TRUCKS: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2019–2022 (USD MILLION)
                        TABLE 32 PALLET TRUCKS: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2023–2028 (USD MILLION)
                        TABLE 33 PALLET TRUCKS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 34 PALLET TRUCKS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.5 ASSEMBLY LINE VEHICLES 
             10.5.1 USED TO CARRY OUT SERIAL ASSEMBLY OPERATIONS
                        TABLE 35 ASSEMBLY LINE VEHICLES: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2019–2022 (USD MILLION)
                        TABLE 36 ASSEMBLY LINE VEHICLES: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2023–2028 (USD MILLION)
                        TABLE 37 ASSEMBLY LINE VEHICLES: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 38 ASSEMBLY LINE VEHICLES: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.6 FORKLIFT TRUCKS 
             10.6.1 USED FOR FLOOR-TO-FLOOR AND FLOOR-TO-RACKING OPERATIONS
                        TABLE 39 FORKLIFT TRUCKS: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2019–2022 (USD MILLION)
                        TABLE 40 FORKLIFT TRUCKS: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2023–2028 (USD MILLION)
                        TABLE 41 FORKLIFT TRUCKS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 42 FORKLIFT TRUCKS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.7 OTHERS 
             TABLE 43 OTHERS: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2019–2022 (USD MILLION)
             TABLE 44 OTHERS: AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2023–2028 (USD MILLION)
             TABLE 45 OTHERS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 46 OTHERS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
 
11 AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY (Page No. - 101)
     11.1 INTRODUCTION 
           FIGURE 42 AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY
           FIGURE 43 LASER GUIDANCE SEGMENT TO ACCOUNT FOR LARGEST MARKET SIZE BY 2028
           TABLE 47 AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2019–2022 (USD MILLION)
           TABLE 48 AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TECHNOLOGY, 2023–2028 (USD MILLION)
     11.2 LASER GUIDANCE 
             11.2.1 MOST ACCURATE AND FLEXIBLE SYSTEM
                        TABLE 49 LASER GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 50 LASER GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
     11.3 MAGNETIC GUIDANCE 
             11.3.1 OFFERS SAFEST AND MOST RELIABLE TRANSPORTATION
                        TABLE 51 MAGNETIC GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 52 MAGNETIC GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
     11.4 INDUCTIVE GUIDANCE 
             11.4.1 IDEAL FOR TOUGHEST INDUSTRIAL SETUPS
                        TABLE 53 INDUCTIVE GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 54 INDUCTIVE GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
     11.5 OPTICAL TAPE GUIDANCE 
             11.5.1 EASY AND CONVENIENT SOLUTION FOR AGVS
                        TABLE 55 OPTICAL TAPE GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 56 OPTICAL TAPE GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
     11.6 VISION GUIDANCE 
             11.6.1 PROVIDES RELIABILITY IN DYNAMIC ENVIRONMENTS AND MANEUVERABILITY IN COMPLEX SPACES
                        TABLE 57 VISION GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 58 VISION GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
     11.7 OTHERS 
             TABLE 59 OTHERS: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
             TABLE 60 OTHERS: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
 
12 AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY (Page No. - 113)
     12.1 INTRODUCTION 
           FIGURE 44 AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY
           FIGURE 45 AUTOMOTIVE SEGMENT TO LEAD MARKET FROM 2023 TO 2028
           TABLE 61 AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY, 2019–2022 (USD MILLION)
           TABLE 62 AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)
     12.2 AUTOMOTIVE 
             12.2.1 GROWING DEMAND FOR AFTER-SALES SPARE PARTS AND INCREASING LEVELS OF CUSTOMIZATION IN VEHICLES TO DRIVE MARKET
                        FIGURE 46 EUROPE TO LEAD AUTOMATED GUIDED VEHICLE MARKET FOR AUTOMOTIVE SEGMENT FROM 2023 TO 2028
                        TABLE 63 AUTOMOTIVE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 64 AUTOMOTIVE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 65 AUTOMOTIVE: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 66 AUTOMOTIVE: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     12.3 METALS & HEAVY MACHINERY 
             12.3.1 DEPLOYMENT OF AGVS TO EASE WORKFLOW IN METALS & HEAVY MACHINERY INDUSTRY TO DRIVE MARKET
                        TABLE 67 METALS & HEAVY MACHINERY: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 68 METALS & HEAVY MACHINERY: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 69 METALS & HEAVY MACHINERY: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 70 METALS & HEAVY MACHINERY: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     12.4 FOOD & BEVERAGE 
             12.4.1 RISING ADOPTION OF AGVS TO MEET INCREASING GLOBAL FOOD DEMAND TO DRIVE MARKET
                        FIGURE 47 ASIA PACIFIC TO LEAD AUTOMATED GUIDED VEHICLE MARKET FOR FOOD & BEVERAGE SEGMENT FROM 2023 TO 2028
                        TABLE 71 FOOD & BEVERAGE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 72 FOOD & BEVERAGE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 73 FOOD & BEVERAGE: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 74 FOOD & BEVERAGE: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     12.5 CHEMICAL 
             12.5.1 INCREASING CHEMICAL PRODUCTION TO LEAD TO DRIVE MARKET
                        TABLE 75 CHEMICAL: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 76 CHEMICAL: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 77 CHEMICAL: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 78 CHEMICAL: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     12.6 HEALTHCARE 
             12.6.1 INCREASING AND INNOVATIVE USE OF AGVS IN PATIENT CARE TO DRIVE MARKET
                        FIGURE 48 UNIT LOAD CARRIERS SEGMENT TO OVERTAKE TOW VEHICLES SEGMENT IN AUTOMATED GUIDED VEHICLE MARKET FOR HEALTHCARE SEGMENT BY 2028
                        TABLE 79 HEALTHCARE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 80 HEALTHCARE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 81 HEALTHCARE: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 82 HEALTHCARE: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     12.7 3PL 
             12.7.1 RELIANCE ON AGVS FOR DAY-TO-DAY OPERATIONS TO DRIVE MARKET
                        TABLE 83 3PL: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 84 3PL: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 85 3PL: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 86 3PL: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     12.8 SEMICONDUCTOR & ELECTRONICS 
             12.8.1 GROWTH OF SEMICONDUCTOR INDUSTRY TO DRIVE MARKET
                        FIGURE 49 ASIA PACIFIC TO LEAD AUTOMATED GUIDED VEHICLE MARKET FOR SEMICONDUCTOR & ELECTRONICS SEGMENT FROM 2023 TO 2028
                        TABLE 87 SEMICONDUCTOR & ELECTRONICS: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 88 SEMICONDUCTOR & ELECTRONICS: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 89 SEMICONDUCTOR & ELECTRONICS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 90 SEMICONDUCTOR & ELECTRONICS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     12.9 AVIATION 
             12.9.1 FACILITATION OF EASY AEROSPACE MANUFACTURING AND ASSEMBLY OPERATIONS BY AGVS TO DRIVE MARKET
                        TABLE 91 AVIATION: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 92 AVIATION: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 93 AVIATION: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 94 AVIATION: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     12.10 E-COMMERCE 
             12.10.1 ADOPTION OF AGVS FOR MATERIAL HANDLING OPERATIONS TO DRIVE MARKET
                        TABLE 95 E-COMMERCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 96 E-COMMERCE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 97 E-COMMERCE: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 98 E-COMMERCE: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     12.11 OTHERS 
             TABLE 99 OTHERS: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
             TABLE 100 OTHERS: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
             TABLE 101 OTHERS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 102 OTHERS: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
 
13 AUTOMATED GUIDED VEHICLE MARKET, BY REGION (Page No. - 139)
     13.1 INTRODUCTION 
             FIGURE 50 AUTOMATED GUIDED VEHICLE MARKET IN CHINA TO REGISTER HIGHEST CAGR FROM 2023 TO 2028
             TABLE 103 AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 104 AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
     13.2 NORTH AMERICA 
             13.2.1 NORTH AMERICA: RECESSION IMPACT
                        FIGURE 51 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET SNAPSHOT
                        TABLE 105 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 106 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 107 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY, 2019–2022 (USD MILLION)
                        TABLE 108 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)
                        TABLE 109 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 110 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             13.2.2 US
                        13.2.2.1 Presence of established automobile manufacturers with warehousing facilities to drive market
             13.2.3 CANADA
                        13.2.3.1 Sustained automation in various industries to drive market
             13.2.4 MEXICO
                        13.2.4.1 Well-established manufacturing sector to drive market
     13.3 EUROPE 
             13.3.1 EUROPE: RECESSION IMPACT
                        FIGURE 52 EUROPE: AUTOMATED GUIDED VEHICLE MARKET SNAPSHOT
                        TABLE 111 EUROPE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 112 EUROPE: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 113 EUROPE: AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY, 2019–2022 (USD MILLION)
                        TABLE 114 EUROPE: AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)
                        TABLE 115 EUROPE: AUTOMATED GUIDED VEHICLE MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 116 EUROPE: AUTOMATED GUIDED VEHICLE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             13.3.2 GERMANY
                        13.3.2.1 Presence of AGV manufacturing companies to drive market
             13.3.3 UK
                        13.3.3.1 Demand from automotive sector to drive market
             13.3.4 FRANCE
                        13.3.4.1 Growing e-commerce industry to drive market
             13.3.5 REST OF EUROPE
     13.4 ASIA PACIFIC 
             13.4.1 ASIA PACIFIC: RECESSION IMPACT
                        FIGURE 53 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE MARKET SNAPSHOT
                        TABLE 117 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 118 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 119 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY, 2019–2022 (USD MILLION)
                        TABLE 120 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)
                        TABLE 121 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 122 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             13.4.2 CHINA
                        13.4.2.1 Foreign investments to assist market growth
             13.4.3 JAPAN
                        13.4.3.1 Escalating labor costs and broad industrial base to support market growth
             13.4.4 AUSTRALIA
                        13.4.4.1 Growing manufacturing and mining industries to drive market
             13.4.5 SOUTH KOREA
                        13.4.5.1 Increasing presence of global AGV companies to drive market
             13.4.6 INDIA
                        13.4.6.1 Growth of manufacturing industries to drive market
             13.4.7 MALAYSIA
                        13.4.7.1 Boom in electronics industry to drive market
             13.4.8 TAIWAN
                        13.4.8.1 Robust semiconductor industry to drive market
             13.4.9 INDONESIA
                        13.4.9.1 Rapid industrial development to drive market
             13.4.10 REST OF ASIA PACIFIC
     13.5 REST OF THE WORLD 
             TABLE 123 REST OF THE WORLD: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2019–2022 (USD MILLION)
             TABLE 124 REST OF THE WORLD: AUTOMATED GUIDED VEHICLE MARKET, BY TYPE, 2023–2028 (USD MILLION)
             TABLE 125 REST OF THE WORLD: AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY, 2019–2022 (USD MILLION)
             TABLE 126 REST OF THE WORLD: AUTOMATED GUIDED VEHICLE MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)
             TABLE 127 REST OF THE WORLD: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 128 REST OF THE WORLD: AUTOMATED GUIDED VEHICLE MARKET, BY REGION, 2023–2028 (USD MILLION)
             13.5.1 SOUTH AMERICA
                        13.5.1.1 Government support for automation in food & beverage industry to drive market
             13.5.2 MIDDLE EAST
                        13.5.2.1 Growing aviation, food & beverage, and pharmaceutical industries to drive market
             13.5.3 AFRICA
                        13.5.3.1 Rising adoption of warehouse automation solutions in various industries to increase AGV adoption
 
14 COMPETITIVE LANDSCAPE (Page No. - 167)
     14.1 OVERVIEW 
     14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 
             TABLE 129 OVERVIEW OF STRATEGIES ADOPTED BY AUTOMATED GUIDED VEHICLE VENDORS
     14.3 REVENUE ANALYSIS OF TOP 5 COMPANIES 
             FIGURE 54 REVENUE ANALYSIS OF TOP 5 PLAYERS IN AUTOMATED GUIDED VEHICLE MARKET, 2018–2022
     14.4 MARKET SHARE ANALYSIS 
             TABLE 130 MARKET SHARE ANALYSIS, 2022
             FIGURE 55 AUTOMATED GUIDED VEHICLE MARKET: SHARE OF KEY PLAYERS
     14.5 COMPANY EVALUATION MATRIX 
             14.5.1 STARS
             14.5.2 PERVASIVE PLAYERS
             14.5.3 EMERGING LEADERS
             14.5.4 PARTICIPANTS
                        FIGURE 56 AUTOMATED GUIDED VEHICLE MARKET: COMPANY EVALUATION MATRIX, 2022
     14.6 SME EVALUATION MATRIX 
             14.6.1 PROGRESSIVE COMPANIES
             14.6.2 RESPONSIVE COMPANIES
             14.6.3 DYNAMIC COMPANIES
             14.6.4 STARTING BLOCKS
                        FIGURE 57 AUTOMATED GUIDED VEHICLE MARKET: SME EVALUATION MATRIX, 2022
             14.6.5 AUTOMATED GUIDED VEHICLE MARKET: COMPANY FOOTPRINT
                        TABLE 131 COMPANY FOOTPRINT
                        TABLE 132 COMPANY INDUSTRY FOOTPRINT
                        TABLE 133 COMPANY TYPE FOOTPRINT
                        TABLE 134 COMPANY REGION FOOTPRINT
             14.6.6 COMPETITIVE BENCHMARKING
                        TABLE 135 AUTOMATED GUIDED VEHICLE MARKET: LIST OF KEY START-UPS/SMES
                        TABLE 136 AUTOMATED GUIDED VEHICLE MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
     14.7 COMPETITIVE SCENARIO 
           TABLE 137 AUTOMATED GUIDED VEHICLE MARKET: PRODUCT LAUNCHES, 2021−2023
           TABLE 138 AUTOMATED GUIDED VEHICLE MARKET: DEALS, 2021−2023
           TABLE 139 AUTOMATED GUIDED VEHICLE MARKET: OTHERS, 2021–2023
 
15 COMPANY PROFILES (Page No. - 183)
(Business overview, Products offered, Recent developments & MnM View)*  
     15.1 KEY PLAYERS 
             15.1.1 DAIFUKU CO., LTD.
                        TABLE 140 DAIFUKU CO., LTD.: COMPANY OVERVIEW
                        FIGURE 58 DAIFUKU CO., LTD.: COMPANY SNAPSHOT
                        TABLE 141 DAIFUKU CO., LTD.: PRODUCTS OFFERED
                        TABLE 142 DAIFUKU CO., LTD.: DEALS
                        TABLE 143 DAIFUKU CO., LTD.: OTHERS
             15.1.2 JBT
                        TABLE 144 JBT: COMPANY OVERVIEW
                        FIGURE 59 JBT: COMPANY SNAPSHOT
                        TABLE 145 JBT: PRODUCTS OFFERED
                        TABLE 146 JBT: PRODUCT LAUNCHES
             15.1.3 KION GROUP AG
                        TABLE 147 KION GROUP AG: COMPANY OVERVIEW
                        FIGURE 60 KION GROUP AG: COMPANY SNAPSHOT
                        TABLE 148 KION GROUP AG: PRODUCTS OFFERED
                        TABLE 149 KION GROUP AG: OTHERS
             15.1.4 TOYOTA INDUSTRIES CORPORATION
                        TABLE 150 TOYOTA INDUSTRIES CORPORATION: COMPANY OVERVIEW
                        FIGURE 61 TOYOTA INDUSTRIES CORPORATION: COMPANY SNAPSHOT
                        TABLE 151 TOYOTA INDUSTRIES CORPORATION: PRODUCTS OFFERED
                        TABLE 152 TOYOTA INDUSTRIES CORPORATION: PRODUCT LAUNCHES
                        TABLE 153 TOYOTA INDUSTRIES CORPORATION: DEALS
                        TABLE 154 TOYOTA INDUSTRIES CORPORATION: OTHERS
             15.1.5 KUKA AG
                        TABLE 155 KUKA AG: COMPANY OVERVIEW
                        FIGURE 62 KUKA AG: COMPANY SNAPSHOT
                        TABLE 156 KUKA AG: PRODUCTS OFFERED
                        TABLE 157 KUKA AG: DEALS
                        TABLE 158 KUKA AG: OTHERS
             15.1.6 HYSTER-YALE MATERIALS HANDLING, INC.
                        TABLE 159 HYSTER-YALE MATERIALS HANDLING, INC.: COMPANY OVERVIEW
                        FIGURE 63 HYSTER-YALE MATERIALS HANDLING, INC.: COMPANY SNAPSHOT
                        TABLE 160 HYSTER-YALE MATERIALS HANDLING, INC.: PRODUCTS OFFERED
                        TABLE 161 HYSTER-YALE MATERIALS HANDLING, INC.: PRODUCT LAUNCHES
                        TABLE 162 HYSTER-YALE MATERIALS HANDLING, INC.: OTHERS
             15.1.7 OCEANEERING INTERNATIONAL, INC.
                        TABLE 163 OCEANEERING INTERNATIONAL, INC.: COMPANY OVERVIEW
                        FIGURE 64 OCEANEERING INTERNATIONAL, INC.: COMPANY SNAPSHOT
                        TABLE 164 OCEANEERING INTERNATIONAL, INC.: PRODUCTS OFFERED
             15.1.8 EK ROBOTICS GMBH
                        TABLE 165 EK ROBOTICS GMBH: COMPANY OVERVIEW
                        TABLE 166 EK ROBOTICS GMBH: PRODUCTS OFFERED
                        TABLE 167 EK ROBOTICS GMBH: PRODUCT LAUNCHES
                        TABLE 168 EK ROBOTICS GMBH: DEALS
                        TABLE 169 EK ROBOTICS GMBH: OTHERS
             15.1.9 SSI SCHAEFER
                        TABLE 170 SSI SCHAEFER: COMPANY OVERVIEW
                        TABLE 171 SSI SCHAEFER: PRODUCTS OFFERED
                        TABLE 172 SSI SCHAEFER: OTHERS
             15.1.10 SCOTT TECHNOLOGY
                        TABLE 173 SCOTT TECHNOLOGY: COMPANY OVERVIEW
                        FIGURE 65 SCOTT TECHNOLOGY: COMPANY SNAPSHOT
                        TABLE 174 SCOTT TECHNOLOGY: PRODUCTS OFFERED
                        TABLE 175 SCOTT TECHNOLOGY: DEALS
     15.2 OTHER PLAYERS 
             15.2.1 AMERICA IN MOTION
                        TABLE 176 AMERICA IN MOTION: COMPANY OVERVIEW
             15.2.2 ASSECO CEIT
                        TABLE 177 ASSECO CEIT: COMPANY OVERVIEW
             15.2.3 SUZHOU CASUN INTELLIGENT ROBOT CO., LTD.
                        TABLE 178 SUZHOU CASUN INTELLIGENT ROBOT CO., LTD.: COMPANY OVERVIEW
             15.2.4 DANBACH ROBOT JIANGXI INC.
                        TABLE 179 DANBACH ROBOT JIANGXI INC.: COMPANY OVERVIEW
             15.2.5 ECA GROUP
                        TABLE 180 ECA GROUP: COMPANY OVERVIEW
             15.2.6 E80 GROUP S.P.A.
                        TABLE 181 E80 GROUP S.P.A.: COMPANY OVERVIEW
             15.2.7 GLOBAL AGV
                        TABLE 182 GLOBAL AGV: COMPANY OVERVIEW
             15.2.8 GRENZEBACH GROUP
                        TABLE 183 GRENZEBACH GROUP: COMPANY OVERVIEW
             15.2.9 IDC CORPORATION
                        TABLE 184 IDC CORPORATION: COMPANY OVERVIEW
             15.2.10 IKV ROBOT CO., LTD.
                        TABLE 185 IKV ROBOT CO., LTD.: COMPANY OVERVIEW
             15.2.11 MEIDEN AMERICA, INC.
                        TABLE 186 MEIDEN AMERICA, INC.: COMPANY OVERVIEW
             15.2.12 ROCLA AGV
                        TABLE 187 ROCLA AGV: COMPANY OVERVIEW
             15.2.13 SAFELOG GMBH
                        TABLE 188 SAFELOG GMBH: COMPANY OVERVIEW
             15.2.14 SIMPLEX ROBOTICS PVT. LTD.
                        TABLE 189 SIMPLEX ROBOTICS PVT. LTD.: COMPANY OVERVIEW
             15.2.15 SYSTEM LOGISTICS S.P.A.
                        TABLE 190 SYSTEM LOGISTICS S.P.A.: COMPANY OVERVIEW
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.  
 
16 ADJACENT MARKET (Page No. - 228)
     16.1 RFID MARKET 
     16.2 INTRODUCTION 
             FIGURE 66 RFID MARKET, BY OFFERING
             FIGURE 67 TAGS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
             TABLE 191 RFID MARKET, BY OFFERING, 2018–2021 (USD MILLION)
             TABLE 192 RFID MARKET, BY OFFERING, 2022–2030 (USD MILLION)
     16.3 TAGS 
             16.3.1 TAGS ARE USED TO IDENTIFY ASSETS OR PERSON
     16.4 READERS 
             16.4.1 FIXED READERS
                        16.4.1.1 Fixed readers are rugged and cost-efficient
             16.4.2 HANDHELD READERS
                        16.4.2.1 Handheld readers are mainly adopted due to their mobility
     16.5 SOFTWARE & SERVICES 
             16.5.1 INCREASING ADOPTION OF DATA ANALYSIS AND CLOUD-BASED DATA STORAGE TO DRIVE DEMAND FOR SOFTWARE & SERVICES
 
17 APPENDIX (Page No. - 233)
     17.1 INSIGHTS FROM INDUSTRY EXPERTS 
     17.2 DISCUSSION GUIDE 
     17.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     17.4 CUSTOMIZATION OPTIONS 
     17.5 RELATED REPORTS 
     17.6 AUTHOR DETAILS 
 

 

The study involves four major activities that estimate the size of the automated guided vehicle market. Exhaustive secondary research was conducted to collect information related to the market. Following this was validating these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall size of the automated guided vehicle market. Subsequently, market breakdown and data triangulation procedures were used to determine the extent of different segments and subsegments of the market.

Secondary Research

Secondary sources in this research study include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, certified publications, articles from recognized authors; directories; and databases. The secondary data were collected and analyzed to estimate the overall market size, further validated by primary research. The relevant data is collected from various secondary sources, it is analyzed to extract insights and information relevant to the market research objectives. This analysis has involved summarizing the data, identifying trends, and drawing conclusions based on the available information.

Primary Research

In the primary research process, numerous sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information about this report. The primary sources from the supply-side included various industry experts such as Chief X Officers (CXOs), Vice Presidents (VPs), and Directors from business development, marketing, product development/innovation teams, and related key executives from automated guided vehicle providers, (such as Daifuku, JBT, KION, Toyota Industries, KUKA) research organizations, distributors, professional and managed service providers, industry associations, and key opinion leaders. Approximately 25% of the primary interviews were conducted with the demand side and 75% with the supply side. These data were collected mainly through questionnaires, emails, and telephonic interviews, accounting for 80% of the primary interviews.

Automated Guided Vehicle Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the market engineering process, both top-down and bottom-up approaches were implemented, along with several data triangulation methods, to estimate and validate the size of the automated guided vehicle market and other dependent submarkets listed in this report.

  • The key players in the industry and markets were identified through extensive secondary research.
  • Both the supply chain of the industry and the market size, in terms of value, were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Market Size Estimation Methodology-Bottom-up Approach

Automated Guided Vehicle Market Size, and Bottom-up Approach

Automated Guided Vehicle Market Size, and Top-down Approach

Data Triangulation

After estimating the overall market size, the total market was split into several segments. The market breakdown and data triangulation procedures were employed wherever applicable to complete the overall market engineering process and gauge exact statistics for all segments. The data were triangulated by studying various factors and trends from both the demand and supply sides. The market was also validated using both top-down and bottom-up approaches.

Market Definition

Automated guided vehicles (AGVs) are portable, automatic vehicles and load carriers that can travel on the floor without a manual operator. They are used for material handling in various industries. These vehicles safely handle and transport all kinds of products, eliminating the requirement for human intervention in production, logistic, warehouse, and distribution environments. They increase the efficiency and productivity of industries, as well as reduce product damages and labor costs. AGVs are an integral part of manufacturing processes and are indispensable in the material handling industry.

The AGV ecosystem comprises manufacturers of AGV products and solutions. The AGV market is diversified, consisting of companies from different regions of the world competing across its value chain to sustain their position and increase their market share. The AGV market is likely to witness significant growth in the coming years due to the surging demand for automation in the automobile, e-commerce, healthcare, and other key industries.

Stakeholders

  • AGV manufacturers
  • End users
  • Government bodies, venture capitalists, and private equity firms
  • Manufacturers of sensors, microcontrollers, RFID modems, and related accessories
  • Material handling associations
  • Professional service/solution providers
  • Research institutions and organizations
  • Standards organizations and regulatory authorities related to the material handling industry

The main objectives of this study are as follows:

  • To define, describe, and forecast the global automated guided vehicle (AGV) market, in terms of value, by type, navigation technology, region, and industry
  • To forecast the market size, in terms of value, by region—North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
  • To provide detailed information regarding the major factors influencing the growth of the market, namely, drivers, restraints, opportunities, and industry-specific challenges
  • To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
  • To study the complete value chain of the AGV ecosystem, along with market trends and use cases
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the global AGV market
  • To strategically profile key players and comprehensively analyze their core competencies2 along with detailing the competitive landscape for market leaders
  • To analyze competitive developments such as product launches, acquisitions, partnerships, and expansions in the global AGV market
  • To benchmark market players using the company evaluation quadrant, which analyzes players based on various parameters within broad business categories and product strategies  

Available Customizations:

With the given market data, MarketsandMarkets offer customizations according to the specific requirements of companies. The following customization options are available for the report:

Country-wise Information:

  • Analysis for additional countries (up to five)

Company Information:

  • Detailed analysis and profiling of different market players (up to five)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Jul, 2023
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