Automated Guided Vehicles Global Market to Reach $3.6 Billion by 2030: Focus on Implementing High Standards of Safety at Workplaces Favors the AGV Market


Dublin, March 29, 2023 (GLOBE NEWSWIRE) -- The "Automated Guided Vehicles: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Automated Guided Vehicles estimated at US$2.2 Billion in the year 2022, is projected to reach a revised size of US$3.6 Billion by 2030, growing at a CAGR of 6.2% over the analysis period 2022-2030.

Forklift Truck, one of the segments analyzed in the report, is projected to record a 5.7% CAGR and reach US$1.1 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Tow Vehicle segment is readjusted to a revised 6.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $448.7 Million, While China is Forecast to Grow at 8.5% CAGR

The Automated Guided Vehicles market in the U.S. is estimated at US$448.7 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$661.6 Million by the year 2030 trailing a CAGR of 8.5% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 5% respectively over the 2022-2030 period.

Within Europe, Germany is forecast to grow at approximately 5.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$431.1 Million by the year 2030.

Select Competitors (Total 73 Featured) -

  • ABB
  • Amerden Inc.
  • Balyo, Inc.
  • Bastian Solutions, Inc.
  • Daifuku Co., Ltd.
  • Hyster-Yale Materials Handling, Inc.
  • Jungheinrich AG
  • John Bean Technologies Corporation
  • KION Group AG
  • Dematic Group
  • Konecranes India Pvt. Ltd.
  • KUKA AG
  • Swisslog Holding AG
  • Murata Machinery, Ltd.
  • Seegrid Corporation
  • SSI Schaefer - Fritz Schaefer GmbH
  • Toyota Industries Corporation
  • Vanderlande Industries
  • Universal Robots A/S

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Attributes:

Report AttributeDetails
No. of Pages833
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$2.2 Billion
Forecasted Market Value (USD) by 2030$3.6 Billion
Compound Annual Growth Rate6.3%
Regions CoveredGlobal

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Automated Guided Vehicle (AGV)
  • Types of Automated Guided Vehicles
  • Forklift Truck
  • Tow Vehicle
  • Pallet Truck
  • Other Types of AGVs
  • Navigation Technology in AGVs
  • Applications of AGVs
  • Advantages of AGVs
  • Standards for AGVs
  • Focus on Automation & Production Efficiency, the Foundation for Growing Investments in AGV
  • Tow Vehicles: The Largest Vehicle Type Segment in the Global AGV Market
  • Asia-Pacific to Spearhead Future Growth, while the US and Europe Dominate AGV Market
  • Global Economic Outlook
  • Real GDP Growth Rates in % by Country/Region for the Years 2017 through 2020
  • Automated Guided Vehicles - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Focus on Implementing High Standards of Safety at Workplaces Favors AGV Market
  • Forklifts-related Accidents Raise Need for AGVs: Percentage Breakdown of Number of Fatalities Attributed to Forklift by Type of Accident in the US
  • AGVs: The Future of Manufacturing World
  • AGVs Assist in Enhancing Operational Efficiency of Factories
  • AGV Systems Promise to Transform the Logistics Marketplace
  • AGVs Transforming Intralogistic Processes in Factory Automation Space
  • Rapidly Growing Logistics Industry Presents Favorable Outlook for AGVs Market
  • Global Logistics Market Revenues in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • AGVs Offer Significant Benefits for Warehousing Operations
  • With Global E-Commerce Sales Skyrocketing, Emergence of E-Commerce Warehouses and Need to Automate Supply Chain Spurs Investments into AGVs
  • Robust Growth Anticipated for E-Commerce: An Opportunity to Tap for AGVs Market
  • Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
  • Global E-Commerce Market as a % of Retail Sales for the Period 2017-2023
  • Leading Retail E-Commerce Countries Worldwide: Ranked by Sales in $ Billion for 2019E
  • Rapid Adoption of Automation Technologies in Material Handling Processes Fuel AGVs Market Growth
  • AGVs Emerge as Important Constituents of Industry 4.0 Revolution and Shift towards Smart Manufacturing Facilities
  • As Industry 4.0 and Logistics 4.0 Come Together, AGVs to Play an Even Greater Role
  • Advancements Lead to Expanded Opportunities for AGVs
  • AGV System in Healthcare Settings: An Area of Growth
  • AGVs Increase Productivity in Maritime Industry
  • Automotive Industry: A Major End-Use Market for AGVs
  • Enabling Flexible and Efficient Production Operations: A Significant Advantage of AGVs in Automotive Industry
  • Navigation Technologies for AGVs in Automotive Assembly Lines
  • Automotive Companies Take the Lead in Automation of Automated Guided Vehicles
  • Increase in Automobile Production: An Opportunity for AGVs Market
  • Global Passenger Cars Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019, 2022
  • AGVs Adoption in Food & Beverage Manufacturing Bolstered by Flexibility, Scalability and Safety Advantages and Ability to Address Labor Shortage
  • Top Reasons for Adoption of AGVs in Food & Beverage Manufacturing
  • Global Sales of Processed Foods in US$ Billion for Years 2014, 2016, 2018 and 2020
  • Global Beverages Market in US$ Trillion for the Years 2018, 2020 & 2022
  • Charging of Battery-Operated AGVs Becomes a Challenge for Warehouses
  • With Electrically-driven AGVs Becoming Integral to Logistics Applications, Need for Sophisticated Charging Systems Gains Prominence
  • Growing Significance of AGVs in Process Automation Gives Rise to Safety Concerns
  • Emergence of Advanced Navigation Systems to Result in Greater Scalability and Flexibility of AGVs
  • Advances in Motion Control Technology to Play a Critical Role in Enhancing Efficiency and Reducing Footprint of AGVs
  • New Technologies with Tremendous Potential for AGVs Market
  • AGVs to Benefit from the Increasing Implementation of AI in Factories
  • Smart Technologies such as AI, IoT and Machine Learning Foster Development of Faster and Smarter AGVs
  • AGVs Address the Needs of SMEs
  • Issues Related to the Use of AGVs for Material Handling Applications
  • Autonomous Vehicles: The Ultimate Future of Material Handling Automation
  • Innovations & Advancements
  • Numerous Benefits Provided by AGVs to Drive their Adoption
  • ILIAD Project Seeks to Integrate Artificial Intelligence into Autonomous Forklifts
  • ASTI and 5TONIC Team Up to Research on Application of 5G Technology to AGVs
  • Rocla Develops New AGV Solution, Rocla ART, for Warehousing Operations
  • Mecfor Unveils AGV Prototype for Use in Aluminum Smelters

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/ckwnsp

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Global Market for Automated Guided Vehicles

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