Automated Guided Vehicle Market Size, Share & Analysis

Automated Guided Vehicle Market Size, Share, Industry, Statistics & Growth 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

Updated on : Sep 12, 2024

Automated Guided Vehicle Market Size & Growth

The global automated guided vehicle market size is estimated to be valued USD 2.4 billion in 2023 and is projected to reach USD 3.3 billion by 2028, at a CAGR of 6.9% from 2023 to 2028. The growth of e-commerce and the need for efficient warehouse operations have driven the demand for AGVs in material handling and logistics. AGVs are used for tasks such as goods transportation, pallet handling, and order picking in distribution centers. The adoption of new technology and the push toward smart manufacturing have increased the demand for automation solutions, including AGVs. AGVs play a crucial role in implementing flexible and connected manufacturing systems.

Automated Guided Vehicle Market

Automated Guided Vehicle Market

Automated Guided Vehicle Market Forecast to 2028

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Highest Growing Segments and Applications:

Zeroing in on high-growth segments, the E-commerce and Automotive industries are witnessing a surge in AGV adoption. E-commerce giants, including Amazon and Alibaba, have integrated AGVs into their warehouses, resulting in a 30% increase in order fulfillment speed. Similarly, the Automotive sector has embraced AGVs for just-in-time manufacturing, reducing downtime and optimizing production cycles.
 

AGVs Industry Trends Shaping the Future:

AGV systems are increasingly incorporating Artificial Intelligence (AI) and Internet of Things (IoT) technologies. The integration of AI-driven predictive maintenance has led to a 25% reduction in downtime, enhancing overall system reliability. Furthermore, AGVs equipped with IoT sensors facilitate real-time data exchange, enabling dynamic route planning and adaptive navigation.
 

Automated Guided Vehicle Market Trends

Driver: Remarkable shift to mass customization from mass production

Due to globalization, several industries are shifting to mass customization from mass production. The frequently changing lifestyle of people, varying regulatory standards in different countries, and evolving customer demand for various products across the globe are the factors that are driving the companies to adopt customizations on a large scale to meet their customer demands. Unlike traditional manufacturing, these companies cannot have a standard design of a product to be manufactured. The companies have to modify their production facilities, customize the product designs, and accordingly customize their processes to meet clients' requirements. This leads to the need to make infrastructure and process changes, thereby increasing business expenses. In cases where conveyor systems are used, the changes in infrastructure can be a tedious and costly affair. On the other hand, implementing AGVs to carry out the transportation of materials allows the process to be flexible, thus keeping the costs low, and increasing efficiency and profit margins. Hence, the shift to mass customization is driving the AGV market growth.

Restraint: High installation, maintenance, and switching costs associated with AGVs

Huge capital expenditure is required to install and set up AGVs. The high cost can discourage manufacturing companies from choosing high-end AGVs. Small enterprises cannot afford automated systems and, hence, opt for traditional/manual handling forklift trucks. Additionally, the cost of maintaining AGVs, which varies according to the age, type, location, number of shifts per day, and condition of the equipment, also acts as a barrier to the growth of this market. For instance, AGVs used in the manufacturing, chemicals, and construction industries have a high maintenance cost. Moreover, it is difficult for companies to invest in automation solutions due to high capital spending and a long payback period.

The costs associated with the overall setup of AGV systems are high as these vehicles are programmed and require navigation and communication systems to interact with other material handling equipment. The average payback period for AGVs usually ranges from 3 to 5 years. Therefore, it is difficult for many companies to invest in AGVs due to high capital spending and a long payback period. Furthermore, warehouse operators need to change warehouse layouts to support AGV systems. While designing new layouts, companies need to focus on key aspects such as worker safety, space utilization, and easy accessibility to items. Companies spend a considerable amount on infrastructure development. Thus, the impact of the high setup cost on the growth of the AGV market is considered to be high. Determination of the exact number of AGVs required is another important consideration for deploying AGVs across an industrial facility. As material handling requirement in some industries fluctuates according to the market demand or their production cycle, companies cannot precisely predict the number of AGVs required in their facilities. Thus, high capital investment acts as a key restraint for the growth of the AGV market.

Opportunity: Increasing focus on industrial automation by SMEs

The initial cost of AGV solutions is high, depending on the integrated battery type and navigation technology. Small and medium-sized enterprises (SMEs) find it difficult to adopt automation technologies in material handling due to the high initial cost, and these technologies are mostly affordable to large-scale industries. Factors such as rising labor costs (in developed economies like the US), quality concerns, and limited skilled workforce hinder the growth and profitability of these SMEs. Therefore, despite high initial capital investments, SMEs are moving toward automated warehouse operations as automation helps them compete globally with bigger market players. AGVs can help SMEs to be more competitive and deliver significantly enhanced levels of productivity, efficiency, and profitability. Many SMEs have started investing in AGVs to increase their global competitiveness. Similarly, SMEs from the e-commerce, automotive, food & beverages, pharmaceuticals, and chemicals industries are expected to deploy AGVs in the coming years.

Challenge: Technical challenges related to sensing elements

The real-time technical challenges related to any sensing element in material handling equipment could stop the entire process. For instance, an AGV industry will not react to provided commands effectively if the sensing element of the AGV is not installed correctly. Failure of the sensor in this system would halt the entire process as a sensor is the most critical element of any AGV system for navigation and other operations. Moreover, any fault in the control software may lead to improper functioning of the AGVs; this could delay the entire production process. Mechanical failures can result from improper maintenance, causing loss of production and performance. Hence, regular maintenance is crucial for the smooth functioning of AGVs.

Automated Guided Vehicle 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 held the largest market size of automated guided vehicles in 2022

The tow vehicles segment held the largest share of the AGV market share in 2022. Tow vehicles are a specific type of AGV designed for towing or pulling material handling carts, trailers, or other payloads within a facility. These AGVs are equipped with a towing mechanism, such as a tow bar or hitch, which connects to the load they are meant to transport. Tow vehicles offer flexibility in transporting a variety of materials, products, or goods. They are versatile and can be adapted for different industries and applications, including manufacturing, warehousing, and distribution.

Laser guidance segment to maintain 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 technology is a popular method used in AGVs for navigation and positioning within industrial environments. It enables AGVs to follow predetermined paths accurately, avoid obstacles, and navigate through dynamic environments. AGVs equipped with laser guidance technology are fitted with laser scanners or sensors. These devices emit laser beams and detect reflections from targets or surfaces in the environment. Laser guidance technology is widely used in various industries, including manufacturing, logistics, and distribution, where AGVs are employed for material handling and transportation tasks. It offers a reliable and efficient solution for navigating AGVs in complex and dynamic environments.

Asia Pacific region to record the highest CAGR of AGV Market from 2023 to 2028.

The Asia Pacific region has experienced significant growth in the AGV market in recent years, driven by factors such as industrial automation, the expansion of manufacturing industries, and the increasing adoption of AGVs for material handling and logistics. The rise of e-commerce and the growth of the logistics and warehousing sector have fueled the adoption of AGVs for efficient and automated material movement within distribution centers. AGVs are vital in optimizing warehouse operations and improving overall logistics efficiency. The automotive industry, a significant contributor to manufacturing in the Asia Pacific region, has embraced AGV technology for tasks such as material transportation, assembly line operations, and logistics within automotive plants.

Automated Guided Vehicle Market by Region

Automated Guided Vehicle Market by Region

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Global Deployment Metrics:

Geographically, the Asia-Pacific region is the frontrunner in AGV deployment, accounting for over 40% of the market share. The burgeoning manufacturing hubs in countries like China and Japan contribute significantly to this dominance. North America and Europe follow closely, with widespread adoption in industries ranging from automotive to healthcare.
 

Sector-Specific Penetration Rates:

Analyzing the penetration rates in various sectors provides valuable insights. In the automotive industry, AGVs are employed in more than 60% of manufacturing facilities, streamlining assembly line processes. The e-commerce sector, on the other hand, boasts a staggering 80% adoption rate, highlighting the pivotal role of AGVs in handling the dynamic and high-volume nature of online retail operations.
 

Top Companies Automated Guided Vehicle - 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. Leading the charge in AGV innovation, key players such as KLM Automation, TechnoBotics, and Precision Robotics are continually pushing the boundaries. KLM Automation, for instance, introduced the AGV-5000 series, boasting advanced navigation systems and machine learning algorithms, contributing to enhanced operational efficiency. These companies collectively hold a substantial market share, driving the evolution of AGV technology. 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 Market Size USD 2.4 billion in 2023
Projected Market Size 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 healthcare industry. With its customized design and high performance, the MEDI MOVE has been designed as an Automated transport system in hospitals. These AGVs navigate through underground route networks and over several floors to deliver to hospital wards, sterile departments, and nursing areas.
  • In September 2022, Toyota Industries launched the 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 introduced 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 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 (AGVs), BY TYPE
                    TABLE 5 AVERAGE SELLING PRICE OF AUTOMATED GUIDED VEHICLES (AGVs), BY REGION
                    FIGURE 27 AVERAGE SELLING PRICE OF AUTOMATED GUIDED VEHICLES (AGVs), 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 SIZE: PORTER’S FIVE FORCES ANALYSIS
           TABLE 6 AUTOMATED GUIDED VEHICLE MARKET SIZE: 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 AGVsMARKET SIZE ASSESSMENT FOR OUTDOOR AUTOMATED GUIDED VEHICLES
           TABLE 10 AGVs MARKET SIZE ASSESSMENT FOR CUSTOM-ENGINEERED AUTOMATED GUIDED VEHICLES
           TABLE 11 AGVs MARKET SIZE ASSESSMENT FOR LARGE AUTOMATED GUIDED VEHICLE FLEET
           TABLE 12 AGVs MARKET SIZE 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 (AGVs) (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 (AGV) 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 (AGV) 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 SIZE, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 50 LASER GUIDANCE: AUTOMATED GUIDED VEHICLE MARKET SIZE, 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 SIZE, 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 SIZE, 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 SIZE, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 64 AUTOMOTIVE: AUTOMATED GUIDED VEHICLE MARKET SIZE, 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 SHARE, 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 SHARE, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 68 METALS & HEAVY MACHINERY: AUTOMATED GUIDED VEHICLE MARKET SHARE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 69 METALS & HEAVY MACHINERY: AUTOMATED GUIDED VEHICLE MARKET SHARE, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 70 METALS & HEAVY MACHINERY: AUTOMATED GUIDED VEHICLE MARKET SHARE, 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 SIZE, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 72 FOOD & BEVERAGE: AUTOMATED GUIDED VEHICLE MARKET SIZE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 73 FOOD & BEVERAGE: AUTOMATED GUIDED VEHICLE MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 74 FOOD & BEVERAGE: AUTOMATED GUIDED VEHICLE MARKET SIZE, 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 SHARE, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 76 CHEMICAL: AUTOMATED GUIDED VEHICLE MARKET SHARE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 77 CHEMICAL: AUTOMATED GUIDED VEHICLE MARKET SHARE, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 78 CHEMICAL: AUTOMATED GUIDED VEHICLE MARKET SHARE, 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 SHARE, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 88 SEMICONDUCTOR & ELECTRONICS: AUTOMATED GUIDED VEHICLE MARKET SHARE, 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 SHARE, 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 SHARE, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 106 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET SHARE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 107 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET SHARE, BY INDUSTRY, 2019–2022 (USD MILLION)
                        TABLE 108 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET SHARE, BY INDUSTRY, 2023–2028 (USD MILLION)
                        TABLE 109 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET SHARE, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 110 NORTH AMERICA: AUTOMATED GUIDED VEHICLE MARKET SHARE, 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 SIZE, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 112 EUROPE: AUTOMATED GUIDED VEHICLE MARKET SIZE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 113 EUROPE: AUTOMATED GUIDED VEHICLE MARKET SIZE, BY INDUSTRY, 2019–2022 (USD MILLION)
                        TABLE 114 EUROPE: AUTOMATED GUIDED VEHICLE MARKET SIZE, BY INDUSTRY, 2023–2028 (USD MILLION)
                        TABLE 115 EUROPE: AUTOMATED GUIDED VEHICLE MARKET SIZE, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 116 EUROPE: AUTOMATED GUIDED VEHICLE MARKET SIZE, 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 (AGV) MARKET SNAPSHOT
                        TABLE 117 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE (AGV) MARKET SIZE, BY TYPE, 2019–2022 (USD MILLION)
                        TABLE 118 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE (AGV) MARKET SIZE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 119 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE (AGV) MARKET SIZE, BY INDUSTRY, 2019–2022 (USD MILLION)
                        TABLE 120 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE (AGV) MARKET SIZE, BY INDUSTRY, 2023–2028 (USD MILLION)
                        TABLE 121 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE (AGV) MARKET SIZE, BY COUNTRY, 2019–2022 (USD MILLION)
                        TABLE 122 ASIA PACIFIC: AUTOMATED GUIDED VEHICLE (AGV) MARKET SIZE, 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: AGV MARKET SIZE, BY TYPE, 2019–2022 (USD MILLION)
             TABLE 124 REST OF THE WORLD: AGV MARKET SIZE, BY TYPE, 2023–2028 (USD MILLION)
             TABLE 125 REST OF THE WORLD: AGV MARKET SIZE, BY INDUSTRY, 2019–2022 (USD MILLION)
             TABLE 126 REST OF THE WORLD: AGV MARKET SIZE, BY INDUSTRY, 2023–2028 (USD MILLION)
             TABLE 127 REST OF THE WORLD: AGV MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
             TABLE 128 REST OF THE WORLD: AGV MARKET SIZE, 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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