Automated guided vehicles (AGV) are driverless vehicles that are used by industries for material handling activities in warehouses and manufacturing units. The AGV market is likely to witness significant growth in the future. One of the key driving factors is – increased productivity in the industries due to less time consumed for the material handling workload. The global AGV market is projected to grow from USD 2.2 billion in 2021 to USD 3.2 billion by 2026 at a CAGR of 7.7%.
Daifuku (Japan), JBT (US), KION (Germany), Toyota Industries (Japan), and KUKA (Germany) are the key players in the AGV market. Other major companies include – Hyster-Yale, Oceaneering International, and Scott Automation.
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Daifuku is involved in designing and manufacturing of logistics systems and material handling equipment, along with providing consultation, planning and engineering, installation and operation, and after-sales services for the same. The company operates through the following business segments—Daifuku, Contec, Daifuku North America and Clean Factomation. It mainly provides automated guided vehicles (AGV) through its Daifuku business segment. With more than 70 years of experience in the material handling industry, the company is one of the leaders in the AGV market.
JBT specializes in the design, manufacture, testing, and servicing of technologically sophisticated systems and products. The company provides technology solutions to food processing and air transportation industries. JBT operates through 2 major segments: FoodTech and AeroTech. The FoodTech segment offers customized and turnkey industrial solutions and services to the food processing industry. Also, the company’s AGV business supplies solutions and systems for the automotive, printing, food & beverages, manufacturing, warehousing and logistics, and pharmaceuticals industries, among others.
KION manufactures forklifts, warehouse equipment, industrial trucks, and order fulfillment stations. KION, along with its subsidiaries, is engaged in the development of forklifts, warehouse equipment, and other industrial trucks for distribution and manufacturing industries. The company has expertise in designing material handling systems, stock management and transport control systems, automation solutions, and electric trucks. KION operates through 3 major business segments— Industrial Trucks & Services, Supply Chain Solutions, and Corporate Services. It provided AGVs through Industrial Trucks & Services segment. The AGVs of KION operate under the Dematic brand.
Automated Guided Vehicle (AGV) Market with COVID-19 Impact Analysis, by Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks), Navigation Technology, Industry, and Region - Global Forecast to 2026
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