Automated Guided Vehicle Market Size Is Set For A Rapid Growth And Is Anticipated To Reach USD 5.44 Billion By 2032
According to the report, the global automated guided vehicle market accounted for USD 2.44 billion in 2023 and is predicted to grow to around USD 5.44 billion by 2032 with a CAGR of roughly 9.30% between 2024 and 2032.
Zion Market Research has published a new report titled “Automated Guided Vehicle Market By Product (Driverless Train, Pallet Trucks, And Unit Load Carriers), By Navigation Technology (Wired, Guided Tape, Gyroscopic Navigation, And Laser Target), By Battery (Lithium-Ion, NiCad, Sealed, Flooded Lead Acid, Inductive Power, And Fuel Cells), By Application (Receiving & Distribution, Transport In Production, Storage & Retrieval, End Of Line Transport, And Others), By End-Use Industry (Automotive, Aerospace & Defense, Electronics, General Manufacturing, Food & Beverages, Pharmaceutical, Textile, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024–2032”.
Automated guided vehicles are portable robotic vehicles that use wires, markers, magnetic stripes, and lasers for navigation. These vehicles are deployed to transit materials and products in manufacturing facilities and storage spaces. They are more suitable in handling raw materials, moving products between assembly lines, etc.
Adoption of advanced automation technology in various food manufacturing processes has led to the expansion of the food and beverage sector. Automated guided vehicles are used to handle palletized and unit loads of snack foods, soft drinks, candy, cereals, in-process ingredients, packaging materials, etc. Nestle, Pepsi, Coca-Cola, and Anheuser-Busch InBev have opted for automated guided vehicles to reduce their manufacturing costs. Investments made in this industry have increased due to the global expansion of various players.
Technological developments in electronics product manufacturing are likely to fuel the automated guided vehicle market. Electronic manufacturers depend on AGV’s for reliable transport of fragile electronic products. Robot sales in the electronics sector witnessed an average annual growth of 19% between 2011 and 2016. Further, robot sales in the electronics sector were 91,300 units in 2016. Considering the rising demand for electronics, the need to automate the manufacturing process is likely to drive the automated guided vehicle market during the forecast time period.
The automated guided vehicle market is divided into the product, navigation technology, battery, application, and end-user industry. By product, the automated guided vehicle market is segmented into the driverless train, pallet trucks, and unit load carriers. Wired, guided tape, gyroscopic navigation, and laser target comprise the navigation technology segment of this market. Laser target is projected to hold a considerable market share during the estimated time period, due to their rising demand in warehouses, where navigation is not limited to vehicles’ physical components. Lithium-Ion, NiCad, sealed, flooded lead acid, inductive power, and fuel cell comprise the battery segment of this market. The flooded lead acid segment is likely to hold a notable share during the forecast timeframe, due to its increasing demand by the automotive sector. By application, this market includes receiving and distribution, transport in production, storage and retrieval, end of line transport, and others. By end-use industry, this market is divided into automotive, aerospace and defense, electronics, general manufacturing, food and beverages, pharmaceutical, textile, and others.
North America is likely to witness a considerable rise in the automated guided vehicle during the forecast timeframe. The U.S. is projected to lead the automated guided vehicle market in this region. Technological developments made in the manufacturing of airplanes and defense materials, such as nuclear containers, are anticipated to fuel the automated guided vehicle market in this region. Boeing, Bombardier, and Raytheon use automated guided vehicle systems in their assembly lines. Boeing uses automated guided vehicles for manufacturing all its 777 models.
Some significant players of the global automated guided vehicle market are-
Egemin Automation Inc.
Toyota Industries Corporation
Hyster-Yale Materials Handling Inc.
Bastian Solutions LLC
Dematic GmbH & Co. KG
E&K Automation GMBH
JBT Corporation
Oceaneering AGV Systems Swisslog Holding AG
Seegrid Corporation
among others.
This report segments the global automated guided vehicle market as follows:
Global Automated Guided Vehicle Market: Product Segment Analysis
- Driverless Train
- Pallet Trucks
- Unit Load Carriers
Global Automated Guided Vehicle Market: Navigation Technology Segment Analysis
- Wired
- Guided Tape
- Gyroscopic Navigation
- Laser Target
Global Automated Guided Vehicle Market: Battery Segment Analysis
- Lithium-Ion
- NiCad
- Sealed
- Flooded Lead Acid
- Inductive Power
- Fuel Cells
Global Automated Guided Vehicle Market: Application Segment Analysis
- Receiving & Distribution
- Transport in Production
- Storage & Retrieval
- End of Line Transport
- Others
Global Automated Guided Vehicle Market: End-Use Industry Segment Analysis
- Automotive
- Aerospace & Defense
- Electronics
- General Manufacturing
- Food & Beverages
- Pharmaceutical
- Textile
- Others
Global Automated Guided Vehicle Market: Regional Segment Analysis
- North AmericaThe U.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Contact Us:
Zion Market Research 244 Fifth Avenue, Suite N202 New York, 10001, United States Tel: +49-322 210 92714 USA/Canada Toll-Free No.1-855-465-4651 Email: sales@zionmarketresearch.com Website: https://www.zionmarketresearch.com
English
Arabic
Français
Español
Português
Türkçe
Dutch
Italiano
Russian
Romaian