Automated Guided Vehicle Market 2019 World Analysis and Forecast to 2025

Posted by Rishikesh Kurane on July 26th, 2019

Automatic guided vehicles (AGVs) are autonomous vehicles used to transport materials or accomplish specific tasks, such as product and pallets loading or unloading, assembling parts, moving materials between conveyor belts, and towing equipment in various industries. AGVs can reduce labor and material costs while also improving safety and reducing product and equipment damage. An AGV system comprises various components, such as traction motors, traction batteries, a computer interface, and payload interface.

The increasing manufacturing operations in the food and beverages, electrical & electronics, and automobiles industries in countries such as China, Germany, Mexico, India, and Japan drive the global automated guided vehicle market. Furthermore, the rapid technological advancements and increasing adoption of industrial automation by small and medium scale enterprises (SMEs) are set to drive this market during the forecast period.  

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Market Research Analysis

In terms of region, the global market for the automated guided vehicle is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Europe held the largest share in the market in 2018 and projected to grow at a significant rate over the forecast period. This is can be attributed to the rapid growth of the automotive industry in countries, such as Germany, Italy, France, and the UK. Moreover, the increased manufacturing activities across the region is expected to boost the demand for AGV systems. However, Asia-Pacific is expected to witness the highest growth during the forecast period due to the the growing adoption of AGV technology coupled with the presence of prominent manufacturers in countries such as China, Japan, and India.

In North America, the presence of key manufacturers such as JBT Corporation, Hyster-Yale Materials Handling, Inc., and Scott in the US and the strong government support for the development and advancement of the industrial sector are some of the factors that are expected to drive the growth.

The industrial development and the improving economic conditions in emerging countries in South America and South Africa are set to drive the growth of this market. Furthermore, the automated guided vehicle manufacturers in North America and Asia-Pacific are expanding their business in the Middle East & Africa and South America, which is also contributing to the growth of this market.

Scope of the Report

This study provides an overview of the global automated guided vehicle market, tracking four market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global automated guided vehicle market by vehicle type, technology, application, industry, and region.

By Vehicle Type: TOW Vehicle, Unit Load Carrier, Fork Lift Vehicle, Pallet Trucks, Assembly Line Vehicles

By Technology: Traditional Guidance, Laser Guidance, Natural Features Guidance, Inductive Guidance, Vision Guided Vehicle

By Application: Transportation, Distribution, Assembly, Roll Handling

By Industry: Automotive, Electrical & Electronics, Logistics & Distribution, Pharmaceuticals, Plastics & Polymers, Food & Beverage

By Regions: North America, Asia-Pacific, Europe, Rest of the World  

Key Players

Key market players operating in the global automated guided vehicle market are SSI Schaefer (Germany), Oceaneering International, Inc. (US), Swisslog Holding Ltd (Switzerland), Jungheinrich AG (Germany), JBT Corporation (US), Kion Group AG (Germany), Toyota Industries Corporatin (Japan), KUKA AG (Germany), Scott (US), and Daifuku Co., Ltd (Japan), ABB (Switzerland), Dematic (US), Hyster-Yale Materials Handling, Inc., (US), E&K Automation GmbH (UK), and Seegrid Corporation (US).

responsible for the growth of this market. 

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Rishikesh Kurane

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Rishikesh Kurane
Joined: May 4th, 2018
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