Automated Guided Vehicle Market by Type (Unit Load Carrier, Forklift Truck, Tow Vehicle, Pallet Truck, Assembly Line Vehicle), Battery Type (Lead, Nickel, Lithium Ion), Application, Navigation Technology, Industry, & Geography - Global Forecast to 2023

[176 Pages Report] The automated guided vehicle (AGV) market was valued at USD 1.71 billion in 2017 and is expected to be worth USD 2.74 billion by 2023, at a CAGR of 8.02% during the forecast period. The base year considered for this report is 2017, and the forecast period for the market has been considered from 2018 to 2023.

The objective of this report is to define, describe, and forecast the market size and growth potential of the AGV market across segments such as type, navigation technology, industry, application, battery type, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW. The study identifies and analyzes the market dynamics, such as drivers, restraints, opportunities, and industry-specific challenges pertaining to the market. It also profiles key players operating in the AGV market. The growth of this market is driven by the factors such as the growing demand for automation in material handling across industries, emerging e-commerce industry, rising requirement for workplace safety standards, and growing  productivity owing to improved supply chain processes.

The research methodology used to estimate and forecast the market begins by capturing revenues of key players and their market shares. A few organizations associated with the market include the Semiconductor Industry Association (SIA), Material Handling Industry of America (MHIA), and the Material Handling Equipment Distributors Association (MHEDA). Calculations based on this led to the overall market size. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with industry experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of the primary respondents is depicted in the below-mentioned figure:

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

The value chain of the overall AGV market includes various activities and factors that help achieve a high level of performance, with respect to a service or product. Daifuku (Japan), JBT Corporation (US), KION Group (Germany), KUKA (Germany), Toyota Industrial (Japan), Hyster-Yale Materials Handling (US), Kollmorgen (US), EK Automation (Germany), Seegrid Corporation (US), and SSI Schaefer (Germany) are among a few key players operating across the value chain of the AGV market.

Partnerships, Agreements, and Collaborations, 2017–2018

Acquisitions, 2014-2017

Investments and Expansions, 2016–2017

Key Target Audience:

• AGV Manufacturers
• Manufacturers of Sensors, Microcontrollers, RFID Modems, and Related Accessories
• Professional Service/Solution Providers
• End Users
• Standard Organizations and Regulatory Authorities Related to the Material Handling Industry
• Research Institutions and Organizations
• Material Handling Associations
• Government Bodies, Venture Capitalists, and Private Equity Firms

Scope of the Report:

The AGV market has been covered in detail in this report. To provide a holistic picture, the current market demand and forecasts have also been included in the report. In this report, the market has been classified into the following segments:

AGV Market, by Type:

• Unit Load Carrier
• Forklift Truck
• Tow Vehicle
• Pallet Truck
• Assembly Line Vehicle
• Others (Automated Carts, Hybrid AGVs, and Customized AGVs)

AGV Market, by Navigation Technology:

• Laser Guidance
• Magnetic Guidance
• Vision Guidance
• Inductive Guidance
• Optical Tape Guidance
• Others (Dead Reckoning Guidance, Inertial Guidance, and Beacon Guidance)

AGV Market, by Industry:

• Automotive
• Manufacturing
• Food & Beverages
• Aerospace
• Healthcare
• Logistics
• Retail
• Others (Chemicals, Printing and Paper, Textiles, Plastics, and Wood)

AGV Market, by Application:<

• Transportation
• Distribution
• Storage
• Assembly
• Packaging
• Others (Waste Handling and Work-in-Process Activities)

AGV Market, by Battery Type:

• Lead
• Nickel Based
• Lithium Ion
• Others (Hydrogen Fuel Cells and Ultracapacitors)

Geographic Analysis of the Global AGV Market:

• North America
• Europe
• APAC
• RoW

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are also available:

• Analysis of the AGV market in different geographies
• Country-wise analysis of the AGV market, by industry

Company Information:

• Detailed analysis and profiling of additional market players (up to 5 companies)

Get more insight on other verticals of Semiconductor and Electronics Market Research Reports & Consulting

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of Study
    1.2 Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Years Considered for Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Market Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 List of Major Secondary Sources
                    2.1.1.2 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Key Data From Primary Sources
                    2.1.2.3 Key Industry Insights
                    2.1.2.4 Breakdown of Primaries
           2.1.3 Secondary & Primary Research
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Estimating Market Size Using Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Estimating Market Size Using Top-Down Analysis (Supply Side)
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 36)
    4.1 Major Opportunities in Automated Guided Vehicle (AGV) Market
    4.2 Automated Guided Vehicle Market, By Type
    4.3 Automated Guided Vehicle Market, By Navigation Technology
    4.4 Automated Guided Vehicle Market in APAC
    4.5 Automated Guided Vehicle Market, By Region

5 Market Overview (Page No. - 39)
    5.1 Introduction
    5.2 Market Dynamics: Automated Guided Vehicle (AGV) Market
           5.2.1 Drivers
                    5.2.1.1 Demand for Automation in Material Handling Across Industries
                    5.2.1.2 Emerging E-Commerce Industry
                    5.2.1.3 Improved Safety Standards at Workplaces
                    5.2.1.4 Enhanced Productivity Enabled By Improved Supply Chain Processes
           5.2.2 Restraints
                    5.2.2.1 High Installation, Maintenance, and Switching Costs
                    5.2.2.2 Initial Price Complexity of AGVs
           5.2.3 Opportunities
                    5.2.3.1 Integration of Industry 4.0 With Industrial Automation Solutions
                    5.2.3.2 Adoption of Industrial Automation By SMEs
                    5.2.3.3 Industrial Growth in Emerging Economies
           5.2.4 Challenges
                    5.2.4.1 Low Labor Cost in Emerging Countries
                    5.2.4.2 Real-Time Technical Challenges

6 Value Chain Analysis (Page No. - 44)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Mergers & Acquisitions in Automated Guided Vehicle (AGV) Market
           6.3.1 Toyota Industries Acquired Vanderlande Industries and Bastian Solutions to Strengthen Its Position in Automated Material Handling Market in 2017
           6.3.2 Kion Group Became A Global Leader in Intralogistics and Automated Material Handling Market With Three Acquisitions
    6.4 Factors Influencing the Price of Automated Guided Vehicles (AGVs)
    6.5 Key Trends
           6.5.1 Industry 4.0 (Fourth Industrial Revolution):
           6.5.2 Implementation of 5G in AGVs:
    6.6 Safety Standards

7 Automated Guided Vehicle Market, By Type (Page No. - 52)
    7.1 Introduction
    7.2 Unit Load Carrier
    7.3 Forklift Truck
    7.4 Tow Vehicle
    7.5 Pallet Truck
    7.6 Assembly Line Vehicle
    7.7 Others

8 Automated Guided Vehicle Market, By Navigation Technology (Page No. - 68)
    8.1 Introduction
    8.2 Laser Guidance
    8.3 Magnetic Guidance
    8.4 Vision Guidance
    8.5 Inductive Guidance
    8.6 Optical Tape Guidance
    8.7 Others

9 Automated Guided Vehicle Market, By Industry (Page No. - 77)
    9.1 Introduction
    9.2 Automotive
    9.3 Manufacturing
    9.4 Food & Beverage
    9.5 Aerospace
    9.6 Healthcare
    9.7 Logistics
    9.8 Retail
    9.9 Others

10 Automated Guided Vehicle Market, By Application (Page No. - 95)
     10.1 Introduction
     10.2 Transportation
     10.3 Distribution
     10.4 Storage
     10.5 Assembly
     10.6 Packaging
     10.7 Others

11 Automated Guided Vehicle Market, By Battery Type (Page No. - 104)
     11.1 Introduction
     11.2 Lead
     11.3 Nickel-Based
     11.4 Lithium-Ion
     11.5 Others

12 Automated Guided Vehicle Market, By Geography (Page No. - 113)
     12.1 Introduction
     12.2 North America
             12.2.1 The US
             12.2.2 Canada
             12.2.3 Mexico
     12.3 Europe
             12.3.1 Germany
             12.3.2 The UK
             12.3.3 France
             12.3.4 Rest of Europe
     12.4 Asia Pacific (APAC)
             12.4.1 China
             12.4.2 Japan
             12.4.3 India
             12.4.4 Australia
             12.4.5 South Korea
             12.4.6 Rest of APAC
     12.5 RoW
             12.5.1 South America
             12.5.2 Africa
             12.5.3 Middle East

13 Competitive Landscape (Page No. - 132)
     13.1 Overview
     13.2 Market Ranking of Players, 2017
     13.3 Competitive Scenario
             13.3.1 New Product Developments and Launches
             13.3.2 Partnerships, Agreements, and Collaborations
             13.3.3 Acquisitions
             13.3.4 Expansions

14 Company Profiles (Page No. - 138)
     14.1 Key Players
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
             14.1.1 Daifuku
             14.1.2 JBT Corporation
             14.1.3 Kion Group
             14.1.4 Toyota Industries
             14.1.5 Kuka
             14.1.6 Hyster-Yale Materials Handling
             14.1.7 EK Automation
             14.1.8 Seegrid Corporation
             14.1.9 Kollmorgen
             14.1.10 SSI Schafer
*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.
     14.2 Key Innovators
             14.2.1 Locus Robotics
             14.2.2 Fetch Robotics
             14.2.3 Invia Robotics
             14.2.4 Addverb Technologies
             14.2.5 Motum
     14.3 Other Companies
             14.3.1 Transbotics Corporation
             14.3.2 Ifuture Robotics
             14.3.3 Oceaneering International
             14.3.4 Savant Automation
             14.3.5 Konecranes

15 Appendix (Page No. - 170)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.3 Available Customizations
     15.4 Related Reports
     15.5 Author Details

List of Tables (78 Tables)

Table 1 E-Commerce Industry Expected to Witness Significant Growth (In Terms of Number of Online Buyers)
Table 2 Automated Guided Vehicle Market, By Type, 2015–2023 (USD Million)
Table 3 Automated Guided Vehicle Market for Unit Load Carrier, By Industry, 2015–2023 (USD Million)
Table 4 Automated Guided Vehicle Market for Unit Load Carrier, By Navigation Technology, 2015–2023 (USD Million)
Table 5 Automated Guided Vehicle Market for Unit Load Carrier, By Region, 2015–2023 (USD Million)
Table 6 Automated Guided Vehicle Market for Forklift Truck, By Industry, 2015–2023 (USD Million)
Table 7 Automated Guided Vehicle Market for Forklift Truck, By Navigation Technology, 2015–2023 (USD Million)
Table 8 Automated Guided Vehicle Market for Forklift Truck, By Region, 2015–2023 (USD Million)
Table 9 Automated Guided Vehicle Market for Tow Vehicle, By Industry, 2015–2023 (USD Million)
Table 10 Automated Guided Vehicle Market for Tow Vehicle, By Navigation Technology, 2015–2023 (USD Million)
Table 11 Automated Guided Vehicle Market for Tow Vehicle, By Region, 2015–2023 (USD Million)
Table 12 Automated Guided Vehicle Market for Pallet Trucks, By Industry, 2015–2023 (USD Million)
Table 13 Automated Guided Vehicle Market for Pallet Truck, By Navigation Technology, 2015–2023 (USD Million)
Table 14 Automated Guided Vehicle Market for Pallet Trucks, By Region, 2015–2023 (USD Million)
Table 15 Automated Guided Vehicle Market for Assembly Line Vehicles, By Industry, 2015–2023 (USD Million)
Table 16 Automated Guided Vehicle Market for Assembly Line Vehicle, By Navigation Technology, 2015–2023 (USD Million)
Table 17 Automated Guided Vehicle Market for Assembly Line Vehicle, By Region, 2015–2023 (USD Million)
Table 18 Automated Guided Vehicle Market for Other Types, By Industry, 2015–2023 (USD Million)
Table 19 Automated Guided Vehicle Market for Others, By Navigation Technology, 2015–2023 (USD Million)
Table 20 Automated Guided Vehicle Market for Others, By Region, 2015–2023 (USD Million)
Table 21 Automated Guided Vehicle Market, By Navigation Technology, 2015–2023 (USD Million)
Table 22 Automated Guided Vehicle Market for Laser Guidance, By Type, 2015–2023 (USD Million)
Table 23 Automated Guided Vehicle Market for Magnetic Guidance, By Type, 2015–2023 (USD Million)
Table 24 Automated Guided Vehicle Market for Vision Guidance, By Type, 2015–2023 (USD Million)
Table 25 Automated Guided Vehicle Market for Inductive Guidance, By Type, 2015–2023 (USD Million)
Table 26 Automated Guided Vehicle Market for Optical Tape Guidance, By Type, 2015–2023 (USD Million)
Table 27 Automated Guided Vehicle Market for Others, By Type, 2015–2023 (USD Million)
Table 28 Automated Guided Vehicle Market, By Industry, 2015–2023 (USD Million)
Table 29 Automated Guided Vehicle Market for Automotive Industry, By Type, 2015–2023 (USD Million)
Table 30 Automated Guided Vehicle Market for Automotive Industry, By Region, 2015–2023 (USD Million)
Table 31 Automated Guided Vehicle Market for Manufacturing Industry, By Type, 2015–2023 (USD Million)
Table 32 Automated Guided Vehicle Market for Manufacturing Industry, By Region, 2015–2023 (USD Million)
Table 33 Automated Guided Vehicle Market for Food & Beverages Industry, By Type, 2015–2023 (USD Million)
Table 34 Automated Guided Vehicle Market for Food & Beverages Industry, By Region, 2015–2023 (USD Million)
Table 35 Automated Guided Vehicle Market for Aerospace Industry, By Type, 2015–2023 (USD Million)
Table 36 Automated Guided Vehicle Market for Aerospace Industry, By Region, 2015–2023 (USD Million)
Table 37 Automated Guided Vehicle Market for Healthcare Industry, By Type, 2015–2023 (USD Million)
Table 38 Automated Guided Vehicle Market for Healthcare Industry, By Region, 2015–2023 (USD Million)
Table 39 Automated Guided Vehicle Market for Logistics Industry, By Type, 2015–2023 (USD Million)
Table 40 Automated Guided Vehicle Market for Logistics Industry, By Region, 2015–2023 (USD Million)
Table 41 Automated Guided Vehicle Market for Retail Industry, By Type, 2015–2023 (USD Million)
Table 42 Automated Guided Vehicle Market for Retail Industry, By Region, 2015–2023 (USD Million)
Table 43 Automated Guided Vehicle Market for Others, By Type, 2015–2023 (USD Million)
Table 44 Automated Guided Vehicle Market for Others, By Region, 2015–2023 (USD Million)
Table 45 Automated Guided Vehicle Market, By Application, 2015–2023 (USD Million)
Table 46 Automated Guided Vehicle Market for Transportation, By Industry, 2015–2023 (USD Million)
Table 47 Automated Guided Vehicle Market for Distribution, By Industry, 2015–2023 (USD Million)
Table 48 Automated Guided Vehicle Market for Storage, By Industry, 2015–2023 (USD Million)
Table 49 Automated Guided Vehicle Market for Assembly, By Industry, 2015–2023 (USD Million)
Table 50 Automated Guided Vehicle Market for Packaging, By Industry, 2015–2023 (USD Million)
Table 51 Automated Guided Vehicle Market for Others, By Industry, 2015–2023 (USD Million)
Table 52 Automated Guided Vehicle Market, By Battery Type, 2015–2023 (USD Million)
Table 53 Lithium Ion Batteries in AGV Market, By Automated Guided Vehicle Type, 2015–2023 (USD Million)
Table 54 Lithium Ion Batteries in Automated Guided Vehicle Market, By Region, 2015–2023 (USD Million)
Table 55 AGV Market for Lithium Ion Batteries for Unit Load Carriers, By Region, 2015–2023 (USD Million)
Table 56 AGV Market for Lithium-Ion Batteries for Forklift Trucks, By Region, 2015–2023 (USD Million)
Table 57 AGV Market for Lithium-Ion Battery for Tow Vehicles, By Region, 2015–2023 (USD Million)
Table 58 AGV Market for Lithium-Ion Battery for Pallet Trucks, By Region, 2015–2023 (USD Million)
Table 59 AGV Market for Lithium-Ion Battery for Assembly Line Vehicles, By Region, 2015–2023 (USD Million)
Table 60 AGV Market for Lithium-Ion Battery for Other Vehicle Types, By Region, 2015–2023 (USD Million)
Table 61 Automated Guided Vehicle Market, By Region, 2015–2023 (USD Million)
Table 62 Automated Guided Vehicle Market in North America, By Country 2015–2023 (USD Million)
Table 63 Automated Guided Vehicle Market in North America, By Industry, 2015–2023 (USD Million)
Table 64 Automated Guided Vehicle Market in North America, By Type, 2015–2023 (USD Million)
Table 65 Automated Guided Vehicle Market in Europe, By Country 2015–2023 (USD Million)
Table 66 Automated Guided Vehicle Market in Europe, By Industry, 2015–2023 (USD Million)
Table 67 Automated Guided Vehicle Market in Europe, By Type, 2015–2023 (USD Million)
Table 68 Automated Guided Vehicle Market in APAC, By Country 2015–2023 (USD Million)
Table 69 Automated Guided Vehicle Market in APAC, By Industry, 2015–2023 (USD Million)
Table 70 Automated Guided Vehicle Market in APAC, By Type, 2015–2023 (USD Million)
Table 71 Automated Guided Vehicle Market in RoW, By Country 2015–2023 (USD Million)
Table 72 Automated Guided Vehicle Market in RoW, By Industry, 2015–2023 (USD Million)
Table 73 Automated Guided Vehicle Market in RoW, By Type, 2015–2023 (USD Million)
Table 74 Market Ranking for Automated Guided Vehicle Market, 2017
Table 75 New Product Developments and Launches, 2015 –2017
Table 76 Partnerships, Agreements, and Collaborations, 2017–2018
Table 77 Acquisitions, 2014-2017
Table 78 Investments and Expansions, 2016–2017

List of Figures (61 Figures)

Figure 1 Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Assumptions of Research Study
Figure 6 Automated Guided Vehicle Market, 2015–2023
Figure 7 Other Type of AGVs Expected to Witness Highest Growth Rate in Automated Guided Vehicle Market During Forecast Period
Figure 8 Laser Guidance Navigation Technology to Hold Largest Share in Automated Guided Vehicle Market 2018
Figure 9 Automotive Industry to Hold Largest Share of Automated Guided Vehicle Market in 2018
Figure 10 Transportation Application Expected to Have Largest Market Size in 2018
Figure 11 AGV Market for Lithium Ion Battery Type Expected to Grow at Highest CAGR During Forecast Period
Figure 12 Europe Held Largest Share of Automated Guided Vehicle Market in 2017
Figure 13 AGV Market in APAC to Grow at the Highest Rate During the Forecast Period
Figure 14 Automated Guided Vehicle Market for Tow Vehicle Expected to Hold Largest Size in 2018
Figure 15 Automated Guided Vehicle Market for Vision Guidance Technology to Grow at Highest CAGR During Forecast Period
Figure 16 Automotive Industry Held Largest Share of Automated Guided Vehicle Market in APAC in 2017
Figure 17 US Held Largest Share of Automated Guided Vehicle Market in 2017
Figure 18 Automated Guided Vehicle (AGV) Market Dynamics
Figure 19 Parent and Adjacent Market of Automated Guided Vehicles (AGVs)
Figure 20 Value Chain Analysis: Manufacturing & Assembly/System Integration Add Maximum Value to the Value Chain
Figure 21 Vanderlande Industries and Bastian Solutions Combinedly Enhances Toyota’s Product and Service Offerings in Automated Material Handling Market
Figure 22 The Recent Acquisitions By Kion Group Granted It A Significant Share of Global Automated Material Handling Market
Figure 23 Automated Guided Vehicle Market, By Type
Figure 24 Other Type of AGVs to Grow at the Highest CAGR During Forecast Period
Figure 25 Vision Guidance to Grow at Highest CAGR in Unit Load Carrier Market During Forecast Period
Figure 26 Automotive Industry to Hold Largest Share of Forklift Truck Market During Forecast Period
Figure 27 APAC Region to Grow at Highest CAGR for Tow Vehicle During Forecast Period
Figure 28 Magnetic Guidance to Hold Largest Share of Pallet Truck Market During Forecast Period
Figure 29 Assembly Line Vehicle Market in APAC to Grow at Highest CAGR During Forecast Period
Figure 30 Automated Guided Vehicle Market, By Navigation Technology
Figure 31 Laser Guidance Navigation Technology to Hold Largest Share of Automated Guided Vehicle Market in 2018
Figure 32 Automated Guided Vehicle Market for Other Type to Grow at Highest CAGR During the Forecast Period
Figure 33 Tow Vehicle to Hold Largest Share in the AGV Market for Inductive Guidance Navigation Technology
Figure 34 Assembly Line Vehicle to Grow at Highest CAGR in AGV Market for Other Navigation Technologies
Figure 35 Automated Guided Vehicle Market, By Industry
Figure 36 Automotive Industry to Hold Largest Size in the AGV Market in 2018
Figure 37 Europe to Hold Largest Share in Automated Guided Vehicle Market for Automotive Industry in 2018
Figure 38 Others Type of AGVs to Grow at Highest Rate in Manufacturing Industry During Forecast Period
Figure 39 APAC to Grow at Highest Rate in Automated Guided Vehicle Market for Aerospace Industry During Forecast Period
Figure 40 Assembly Line Vehicle to Grow at Highest Rate in Healthcare Industry During the Forecast Period
Figure 41 Automated Guided Vehicle Market, By Application
Figure 42 Transportation Application Expected to Hold Largest Share of Automated Guided Vehicle Market in 2018
Figure 43 Aerospace Industry Expected to Grow at Highest CAGR for Distribution Application in Automated Guided Vehicle Market
Figure 44 Retail Industry to Grow at the Highest CAGR for Packaging Application During the Forecast Period
Figure 45 Automated Guided Vehicle Market, By Battery Type
Figure 46 Lithium-Ion Battery Type to Grow at Highest Rate in the AGV Market During the Forecast Period
Figure 47 APAC Region to Grow at Highest CAGR for Lithium Ion Batteries in Automated Guided Vehicle Market During the Forecast Period
Figure 48 AGV Market in APAC Region to Grow at Highest Rate During Forecast Period
Figure 49 Automated Guided Vehicle Market, By Geography
Figure 50 Geographic Snapshot: Automated Guided Vehicle Market
Figure 51 North America: Automated Guided Vehicle Market Snapshot
Figure 52 Europe: Automated Guided Vehicle Market Snapshot
Figure 53 APAC: Automated Guided Vehicle Market Snapshot
Figure 54 RoW: Automated Guided Vehicle Market Snapshot
Figure 55 Growth Strategies Adopted By the Companies Over the Past Three Years (2015–2018)
Figure 56 Daifuku: Company Snapshot
Figure 57 JBT Corporation: Company Snapshot
Figure 58 Kion Group: Company Snapshot
Figure 59 Toyota Industries: Company Snapshot
Figure 60 Kuka: Company Snapshot
Figure 61 Hyster-Yale Materials Handling: Company Snapshot

According to MarketsandMarkets, the automated guided vehicle (AGV) market is expected to grow from USD 1.86 billion in 2018 to USD 2.74 billion by 2023, at a CAGR of 8.02% between 2018 and 2023. The major factors driving the growth of the AGV market include the rising demand for automation in material handling across industries, emerging e-commerce industry, increasing requirement for workplace safety standards, and growing productivity due to improved supply chain processes.

In this report, the AGV market has been segmented on the basis of type, navigation technology, battery type, application, industry, and geography.

On the basis of type, tow vehicles accounted for the largest share of the AGV market in 2017.  The tow vehicle, also known as tugger, pulls non-powered carts carrying heavy loads. This is the most productive AGV used for towing and tugging as it can move heavy loads with multiple trailers than a single fork truck. The tow vehicle has the ability to automatically pick up a load without any human interface, or loading/unloading can be done manually. Tow vehicles are used for pallet operations requiring frequent long-distance deliveries carrying high volumes of the load.

Laser guidance technology accounted for the largest share of the AGV market, based on navigation technology, in 2017. Laser guidance is the most flexible system for vehicle movement and offers accurate navigation. It has reflectors mounted on walls along the vehicle’s route. Onboard AGV is a rotating laser light beam source  that detects its reflections and receives information on distance and angle, which gets stored in the vehicle memory. The AGV can calculate its position based on this information.

On the basis of battery type, the lead battery accounted for the largest share of the AGV market in 2017. The lead battery is a mature energy storage technology used in the conventional automotive and power sectors. It is the oldest type of rechargeable battery and is most suitable for automated guided vehicle applications. Lead-acid batteries are generally used in AGV systems as these batteries have the highest power-to-size ratio in comparison with conventional batteries.

On the basis of application, the transportation application accounted for the largest share of the AGV market in 2017. Transportation systems rapidly and efficiently connect the receipt of goods, production, order picking, and material shipment within the plant. They also aid the movement of goods around a warehouse to improve material handling efficiency and productivity while maximizing profits. AGVs are widely used for automatic transportation of materials from one location to another, which maximizes productivity, reduces costs, prevents infrastructure damages and accidental injuries, and optimizes space.

On the basis of industry, the automotive industry accounted for the largest share of the AGV market in 2017. The automotive industry is enhancing its manufacturing operations through automated, efficient, and effective processes. Automotive suppliers have made rapid progress in automotive storage with innovative product technologies and by enabling real-time information for the efficient delivery of high-quality products.

Currently, the AGV market is largely dominated by Europe because of the exceptionally high labor cost in this region. Europe held the largest share of the global AGV market in 2017, while APAC is the most promising region for the AGV market, and the market in APAC is expected to witness the highest CAGR because of the region’s fast-growing e-commerce industry, a booming manufacturing sector, and numerous planned installations of AGVs in emerging economies such as China and India.

The low labor cost in emerging countries and real-time technical challenges may create more problems for the manufacturers in the AGV market. Daifuku (Japan), JBT Corporation (US), KION Group (Germany), KUKA (Germany), Toyota Industrial (Japan), Hyster-Yale Materials Handling (US), Kollmorgen (US), EK Automation (Germany), Seegrid Corporation (US), and SSI Schaefer (Germany) are among a few major vendors in the AGV market. These players adopted strategies such as product launches and developments, contracts, acquisitions, partnerships, and business expansions to satisfy the needs of the customers in the market.

Drivers

Demand for automation in material handling across industries

There is a demand for increased efficiency in emerging industries such as automotive, healthcare, e-commerce, and food and beverage are demanding, leading to increased demands for automation. The automation of industrial facilities with the help of automated guided vehicles (AGV), automated conveyors, pallet trucks, assembly line vehicles, and robots that can help in fulfilling requirements related to material handling capacity, results in reduced production time, fewer chances of human error, increased safety, high production volume, and increased accuracy and repeatability. According to the International Federation of Robotics (IFR) (Germany) “By 2019, more than 1.4 million new industrial robots will be installed in factories around the world”.

Emerging e-commerce industry

The growing popularity of online shopping is the key exponential factor boosting the growth of the e-commerce industry. E-commerce companies such as Flipkart (India) and Amazon (US) are extremely popular among online shoppers; thus, they need to stock up large volumes of products in their warehouses. E-commerce companies also need to offer order accuracy, same day or same-hour delivery, and free returns to compete in the market. Thus, e-commerce companies are constantly looking for economical ways to reduce their delivery times. Automated material handling equipment such as AGVs, ASRSs, automated conveyors, and robots have emerged as comprehensive solutions, gaining popularity among e-commerce companies, helping them handle order fulfillment processes efficiently. For instance, the acquisition of Kiva Systems (US) by Amazon (US) revolutionized the use of robotics in fulfillment centers of online retailing companies. In 2016, Amazon increased its fleet of warehouse robots by adding 15,000 robots to the existing fleet in its fulfillment centers. The total number of robots operating in Amazon’s warehouses was 45,000 by the end of 2016.

Opportunities

Integration of Industry 4.0 with industrial automation solutions

Traditional industrial facilities are slowly evolving into smart, connected, and highly efficient automated facilities by integrating Industry 4.0 with automation systems. The Industry 4.0 trend is capable of influencing the industries significantly with its ability to convert an industrial facility into an autonomous plant. The Industry 4.0 will combine computers and industrial automation solutions in an ultimate dimension with robotics; this network of connected devices will create a smart architecture capable of taking decentralized decisions.

Adoption of industrial automation by SMEs

The initial cost of an AGV solution is high (depending on the integrated battery type and navigation technology) and mostly large-scale industries can afford these solutions. Small and medium-sized enterprises (SMEs) find it difficult to adopt industrial automation technologies, the initial high cost being a prohibiting factor. Factors such as rising labor costs (in developed economies like the US), quality concerns, and limited skilled workforce hinder the growth and profitability for these SMEs. However, despite the high initial capital investment, SMEs are moving toward automated warehouse operations as these help them compete globally with bigger market players.

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