Automated Guided Vehicle Market Size Worth $9.32 Billion By 2028

Published On: July 6, 2021

As per the published report, the global automated guided vehicle market is estimated to arrive at USD 9.32 billion by 2028. It is projected to develop by 13.0% CAGR from 2021 to 2028.

The automated guided vehicle has altered the method of the material movement, inside the industrialized and delivery amenities. In industrial surroundings, wherever a number of procedures are done at the same time, the automated guided vehicle guarantees an expected, as well as dependable movement of the raw materials, in addition to the finished goods between two desired locations, inside the facility, thus abolishing every possible disturbance, within the manufacturing procedure. This is boosting the market for automated guided vehicle.

The market is gradually shifting to lithium–ion batteries from the presently in use lead-acid batteries. Lithium-ion batteries provide a number of advantages above the lead-acid batteries. They are likely to be compacted in size and lighter in weight.

They are capable to get charged, more rapidly, give extended running times, and sustain more cycles of discharging and charging. Since, those batteries are not required to be recurrently charged, throughout the working shifts or during 24x7 in use background, these batteries are perfect for the automated guided vehicle.

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Further key findings from the report suggest:

• In 2020, Europe led the global automated guided vehicle market. On the other hand, Asia Pacific is estimated to develop by the maximum CAGR, during the forecast period.

• To avert the labor expenditure, the manufacturing industry is, gradually more, taking on the automated guided vehicle. Since, the automated guided vehicle is capable to work on a 24x7 basis, the overheads linked with the purchase and the maintenance of AGV is likely to be slighter, as compare to the overheads of wages plus the worker remuneration.

• Through a number of industries, the taking up of material handling equipments as well as the mechanization is considerably rising.

• The logistics and warehousing section occurred like the major function of automated guided vehicles. The segment produced the maximum revenue in 2020 and is anticipated to preserve its domination, throughout the forecast period.

• The rising acceptance of automated guided vehicle by the automobile manufacturing sector, along with the automobile deliver industry, to shift transitional goods inside the facility, is anticipated to impel the expansion of the market.

Million Insights segmented the global automated guided vehicle market based on Battery Type, Component, End Use Industry, Application, Navigation Technology, Vehicle Type, and Region.

Automated Guided Vehicle Type Outlook (Revenue, USD Million, 2017 - 2028)
    • Tow Vehicle
    • Unit Load Carrier
    • Pallet Truck
    • Forklift Truck
    • Hybrid Vehicles
    • Others

Automated Guided Vehicle Navigation Technology Outlook (Revenue, USD Million, 2017 - 2028)
    • Laser Guidance
    • Magnetic Guidance
    • Vision Guidance
    • Inductive Guidance
    • Natural Navigation
    • Others

Automated Guided Vehicle Application Outlook (Revenue, USD Million, 2017 - 2028)
    • Logistics and Warehousing
        • Transportation
        • Cold Storage
        • Wholesale & Distribution
        • Cross-docking
    • Assembly
    • Packaging
    • Trailer Loading and Unloading
    • Raw Material Handling
    • Others

Automated Guided Vehicle End-use Industry Outlook (Revenue, USD Million, 2017 - 2028)
    • Manufacturing Sector
        • Automotive
        • Aerospace
        • Electronics
        • Chemical
        • Pharmaceuticals
        • Plastics
        • Defense
        • FMCG
        • Tissue
        • Others
    • Wholesale and Distribution Sector
        • E-commerce
        • Retail Chains/Conveyance Stores
        • Grocery Stores
        • Hotels and Restaurants

Automated Guided Vehicle Component Outlook (Revenue, USD Million, 2017 - 2028)
    • Hardware
    • Software
    • Service

Automated Guided Vehicle Battery Type Outlook (Revenue, USD Million, 2017 - 2028)
    • Lead Battery
    • Lithium-ion Battery
    • Nickel-based Battery
    • Others

Automated Guided Vehicle Regional Outlook (Revenue, USD Million, 2017 - 2028)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • U.K.
        • Germany
        • France
    • Asia Pacific
        • China
        • Japan
        • India
        • Australia
        • South Korea
    • South America
        • Brazil
    • Middle East and Africa (MEA)


Various companies for automated guided vehicle market are:

    • Scott
    • Schaefer Systems International, Inc.
    • In Via Robotics, Inc.
    • ELETTRIC80 S.P.A.
    • Kollmorgen
    • BALYO
    • JBT
    • Daifuku Co., Ltd.
    • Swiss log Holding AG
    • System Logistics Spa
    • Locus Robotics
    • Fetch Robotics, Inc.
    • KMH Fleet Solutions
    • E&K Automation GmbH
    • Hyster-Yale Materials Handling, Inc.
    • See grid Corporation
    • Dematic
    • Bastian Solutions, Inc.