Automated Guided Vehicle (AGV) Market Share Insights

Automated Guided Vehicle (AGV) Market Share & Growth Outlook

The global Automated Guided Vehicle (AGV) market Share was valued at USD 2.56 billion in 2024 and is projected to reach USD 3.78 billion by 2029, expanding at a CAGR of 8.1% during the forecast period. AGVs are pivotal for automating material movement in warehouses, distribution centers, and manufacturing facilities, enhancing productivity while reducing labor intensity and operational bottlenecks. 

• By 2024 – The global Automated Guided Vehicle (AGV) market stood at USD 2.56 billion

• By 2029 – The AGV market is projected to reach USD 3.78 billion

• 2024–2029 – The market is expected to expand at a CAGR of 8.1%

• Forecast Period – Growth driven by rising adoption of automation in warehouses, distribution centers, and manufacturing facilities

• Market Impact – AGVs enable efficient material movement, reduced labor intensity, and improved operational productivity

AI’s Role in Enhancing Market Share
Artificial Intelligence (AI) is a critical driver of market share expansion, enabling next-generation AGVs to execute dynamic route optimization, real-time decision-making, predictive maintenance, and autonomous navigation. AI-enabled systems improve efficiency, minimize downtime, and reduce operating costs making strategic automation investments more appealing to enterprises and contributing to market acceleration. 

Regional Market Share Dynamics
The Asia Pacific region holds a prominent position, driven by rapid industrialization, strong e-commerce growth, and substantial investments in smart manufacturing technologies. North America and Europe also account for significant shares due to high adoption rates in logistics and automotive sectors, while emerging regions show accelerated growth potential. 

Segment Share Trends by Vehicle Type
Among AGV types, tow vehicles maintain the largest share due to their versatility in handling long-distance material transport across diverse industrial environments. Other categories like unit load carriers and pallet trucks are gaining traction as companies diversify automation solutions across their fleets. 

Top Companies in the Automated Guided Vehicle Market

Here’s a snapshot of leading AGV market players shaping industry share and innovation:

Daifuku Co., Ltd. (Japan)
A veteran in AGV systems with decades of experience and a broad global footprint. Daifuku’s portfolio includes tailored AGVs optimized for automotive, e-commerce, and industrial logistics, highlighting its strong position in the global market. 

JBT Corporation (US)
Specializes in material handling and automation solutions, including advanced AGVs used in food packaging, manufacturing, and supply chain operations. Its market share is bolstered by integrated software and system support for end-to-end automation.

KION Group AG (Germany)
A major player with a diverse automation and industrial material handling portfolio. KION integrates AGVs with broader logistics systems and Industry 4.0 platforms, enhancing digital warehouse orchestration. 

Toyota Industries Corporation (Japan)
Renowned for AGV solutions extending from forklift variants to intelligent logistics vehicles. Toyota’s market share benefit stems from its strong presence in manufacturing and distribution sectors globally. 

KUKA AG (Germany)
Focuses on robotics and automation integrated with AGV capabilities, increasing operational flexibility through AI-driven navigation and perception systems. KUKA’s offerings are widely used in automotive and e-commerce logistics. 

Frequently Asked Questions (FAQs)

Q1: What is driving the expansion of AGVs in the market?
The AGV market is driven by increasing demand for automation in logistics and manufacturing, rising e-commerce activity, and the integration of AI and IoT technologies that enable smarter navigation, real-time analytics, and optimized fleet performance.

Q2: How does AI influence AGV performance and market share?
AI enhances AGVs by enabling more efficient route planning, predictive maintenance, and adaptive decision-making. These capabilities reduce downtime and operational costs, making AI-enabled AGVs more attractive to enterprises and expanding their market share.

Q3: Which region leads in AGV adoption?
Asia Pacific leads the AGV market share, supported by rapid industrialization, government initiatives, and the fast growth of e-commerce and logistics sectors. North America and Europe remain strong due to advanced automation infrastructure. 

Q4: Which AGV type holds the largest market share?
Tow vehicles are the largest segment by type, largely due to their high utility in transporting heavy loads across large facilities and compatibility with various industrial applications. 

Key Highlights - Automated Guided Vehicle (AGV) Market Share Overview

• The global AGV market is witnessing steady growth, driven by rising demand for warehouse automation, smart manufacturing, and efficient material handling systems across industries.

• AI-enabled AGVs are gaining a larger share of the market as enterprises prioritize intelligent navigation, real-time decision-making, and predictive maintenance to reduce downtime and operational costs.

• Tow vehicles dominate the market share due to their versatility, cost-effectiveness, and wide adoption in manufacturing plants, warehouses, and logistics hubs.

• Asia Pacific holds the leading market share, supported by rapid industrialization, strong e-commerce growth, and large-scale investments in smart factories, while North America and Europe remain key mature markets.

• The competitive landscape is shaped by global leaders such as Daifuku, Toyota Industries, KION Group, JBT Corporation, and KUKA, which focus on AI integration, fleet management software, and Industry 4.0 compatibility.

• Ongoing advancements in AI, machine vision, and sensor fusion are expected to further shift market share toward autonomous and flexible AGV solutions, strengthening long-term growth prospects.

Related Reports:

Automated Guided Vehicle (AGV) Market by Type (Tow Vehicles, Unit Load Carriers, Pallet Trucks, Assembly Line Vehicles, Forklift Trucks), Navigation Technology (Laser, Magnetic, Inductive, Optical Tape, Vision, Inertial, Beacon) - Global Forecast to 2029

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com