The Automated Guided Vehicles Market is projected to grow from USD 2.17 billion in 2022 to USD 4.11 billion by 2030, exhibiting a CAGR of 9.6% during the forecast period.

Automated Guided Vehicles Market Overview:

Automated Guided Vehicle (AGV) systems help move and transport items in manufacturing facilities, warehouses and distribution centers without permanent conveying systems or manual intervention. Premium AGVs follow a configurable guided path for optimization of storage, picking and transport capabilities in environments where premium AGVs are gaining high adoption due to their multiple benefits, including reduced labor costs, reduced product damage, improved productivity, and scalability to support automated processes. These notable benefits are encouraging transportation and logistics companies to deploy AGVs to increase operational efficiencies. For example, in May 2021 AUDI AG stated that it uses AGVs in its manufacturing centers. This helps indirectly plan the production process to know which components are out of stock and should be available. It also helps to carry the goods supply trolley which helps keep you safe.

Key Market Updates:

• In March 2021, Toyota Industries partnered with All Nippon Airways (ANA) to test Japan's first autonomous tow tractor at Saga Airport. The tow tractor uses 2D/3D LiDAR sensors to automatically detect objects in its path and allow the vehicle to automatically adjust its path.
• In February 2021, Daifuku partnered with AFT Industries, a German-based automation and conveyor technology company, to leverage the latter's expertise to improve material handling systems for the automotive industry. The partnership will focus on opening new channels to meet the global demand for material handling systems from automakers.
• In April 2020, EK Robotics launched the VARIO MOVE transport vehicle. It consists of a drive unit that can be flexibly equipped with various load handling attachments via a universal interface.

Major Market Segments Covered in Automated Guided Vehicles Market Industry Research:

• Oceaneering International Inc. (U.S.)
• Toyota Advanced Logistics (Japan)
• Daifuku Co. Ltd. (Japan)
• KION GROUP AG (Germany)
• Hyster-Yale Materials Handling Inc. (U.S.)
• JBT (U.S.)
• Mitsubishi Caterpillar Forklift America Inc. (U.S.)
• Crown Equipment Corporation (U.S.)
• Seegrid Corporation (U.S.)
• E&K Automation GmbH (Germany)
• HIT Robot Group (China)
• Swisslog Holding AG (Switzerland)
• Bastian Solutions Inc. (U.S.)
• Dematic (U.S.)
• BALYO (France)
• KMH Fleet Solutions (U.S.)

Key Vendors:

1.Oceaneering International Inc. (U.S.): Oceaneering pushes the frontiers of deep water, space and motion entertainment environments to execute with new, leading-edge connections to solve tomorrow’s challenges, today. As the trusted subsea connection specialist, our experience combined with the depth and breadth of our portfolio of technologies allows us to engineer solutions for the most complex subsea challenges. From routine to extreme, our integrated products, services, and innovative solutions safely de-risk operational systems, increase reliability, and enable a lower total cost of ownership.

2.Daifuku Co. Ltd.: Daifuku has been providing customers worldwide with optimal and best solutions to enhance their global competitiveness, as a comprehensive material handling system manufacturer and integrator. Material handling systems have attracted attention in recent years as a key component of social infrastructure that addresses social issues such as labor shortages and productivity bottlenecks. The emergence of new products and services gives rise to new consumer needs and a fresh sense of value, which in turn significantly transforms the structure of product sales channels and logistics.

3.KMH Fleet Solutions: KMH Systems Ltd combine a central engineering design office and purpose built manufacturing facility from where our team of project managers, design engineers and site managers deliver unrivalled turnkey projects. We are system providers (for waste to energy, recycling and biomass sector) and mechanical handling equipment manufacturer.

4.BALYO: BALYO transforms standard forklifts into intelligent robots thanks to its breakthrough Driven by Balyo™technology. Our leading geo guidance navigation system enables robots to locate their position and navigate autonomously inside buildings - without the need for any additional infrastructure. A full range of globally available robots has been developed for virtually all traditional warehousing applications: Tractor, Pallet, Stackers, Reach and VNA-robots.

5.Dematic: Dematic is an intralogistics innovator that designs, builds and supports intelligent, automated solutions for manufacturing, warehouse and distribution environments for customers that are powering the future of commerce.Specialties in a Intelligent intralogistics & Material Handling Solutions, Material Handling Equipment, Products, Conveyors, Dematic Multishuttle, Dematic RapidPick, Miniloads, Pallet AS/RS, Sorters, Solutions for SAP EWM, and Dematic iQ Software.

By Type:

• Tow Vehicles
• Automated Forklift Trucks
• Underride/Tunneling Vehicles
• Assembly Line Vehicles
• Others (Unit Load Carriers)

By Navigation Technology:

• Laser Guided
• Magnetic Guided
• Vision Guided
• Others (Wire Guided)

By Application:

• Transportation & Distribution
• Storage & Assembly
• Packaging

By Industry:

• Automotive
• Food & Beverage
• E-commerce
• Others (Healthcare)

By Region:

The European region dominated the market in 2021, accounting for over 31% revenue share. Besides, the European regional market is expected to remain the dominant regional market over the forecast period. The growth of the regional market is mainly driven by the increasing demand for material handling equipment by incumbents in the manufacturing industry. Additionally, automation in all sectors boosted the market growth in this region. For example, in January 2022 PUMA SE announced that it would install more automated robots with a combination of artificial intelligence, cameras and grippers. Adding more robots will reduce labor costs, increase productivity and help the distribution center assemble orders for shoes and clothing.

Asia Pacific is expected to expand at the fastest CAGR of 11.2% during the forecast period. The e-commerce industry is growing significantly in emerging economies in the Asia Pacific region, such as China and India. For example, in October 2021, automation machinery manufacturing company Shenzhen Casun Intelligent Robot Co., Ltd. launched the CASUN intelligent robot "Little Giant". With CASUN's self-placement intelligent control, AGVs can perform loading and unloading in and out of warehouses and in various industries. This upsurge in the e-commerce industry is encouraging several e-commerce companies to consider entering these regional markets.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Driver:  

Employee safety is a major concern in a variety of industries, including logistics and warehousing, manufacturing, metal and heavy machinery, and automotive, as workers perform potentially hazardous activities and must work in environments that threaten personal safety. Many of these industries put workers at risk by performing tasks such as loading, unloading, storing, and moving goods manually. AGVs reduce accidents and enhance worker safety.

Industry focuses on improving workplace safety to eliminate accidents, reduce downtime and increase productivity. Awareness of AGVs is growing and more and more companies are implementing AGVs in their warehouses. These vehicles can lift heavier weights and transport materials without delay. Intelligent driverless vehicles are less error-prone and help businesses reduce accidents and ensure workplace safety.

Restraint: 

The e-commerce and retail industries rely heavily on the logistics sector to run smoothly. Companies in the e-commerce and retail industries are opting for automated material handling equipment to improve operational efficiencies. In the e-commerce industry, companies are using mobile robots to automate warehouse operations.

Mobile robots are used as autonomous logistics vehicles for indoor operations in the e-commerce and retail industries. Features such as mobile shelving, robotic drives, sophisticated control software and workstations that automate picking, packing and shipping processes offer a new approach to warehouse automation. Compared to conveyors, AGVs, carousels and traditional ASRS, these portable solutions adapt to changing product types and speeds, order priorities and other operating realities. Mobile robots also have lower installation and commissioning costs and are easier to install than AGVs. These characteristics of mobile robots may limit the adoption of AGVs in retail and e-commerce industries.

Opportunity: 

Depending on the integrated battery type and navigation technology, the initial cost of an AGV solution is high. It is difficult for SMEs to introduce logistics automation technology due to high initial cost, and most of these technologies can be used in large-scale industries. Factors such as rising labor costs (in developed countries like the US), quality issues, and a limited skilled labor force hinder the growth and profitability of these SMEs. Therefore, despite the high initial capital investment, SMEs are moving toward automated warehouse operations as automation enables them to compete globally with larger market players. AGVs help SMEs become more competitive and significantly improve productivity, efficiency and profitability. Many SMEs have started investing in AGVs to increase their global competitiveness. Similarly, SMEs in the e-commerce, automotive, food and beverage, pharmaceutical and chemical industries are expected to deploy AGVs within the next few years.

Challenge: 

Real-time technical problems with sensing elements in material handling equipment can bring the entire process to a halt. For example, if the AGV's sensing elements are not installed correctly, the AGV will not respond effectively to a given command. If a sensor fails in this system, the entire process is interrupted. Because sensors are the most important element of AGV systems for navigation and other tasks. Also, glitches in the control software can prevent the AGV from working properly. This may delay the entire production process. Improper maintenance can lead to mechanical failure, resulting in loss of production and performance. Therefore, regular maintenance is important for the smooth operation of AGVs.

Scope of Report :

Conclusion:

The auto business is moving away from traditional cars and toward electric cars. This is likely to give AGV manufacturers in the auto market new business opportunities. AGVs are being used more and more in the healthcare business. AGVs are used in healthcare settings to do things like move materials, take care of trash, and handle linens. The growing need to improve operational efficiency and cut down on labor costs is why the healthcare sector needs AGVs more and more.