The global market for Automated Guided Vehicles is estimated at US$2.4 Billion in 2023 and is projected to reach US$3.6 Billion by 2030, growing at a CAGR of 6.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the Automated Guided Vehicle market is driven by several factors, primarily related to technological advancements, evolving industrial requirements, and changing workforce dynamics. As industries continue to pursue higher efficiency and reduced operational costs, the demand for automation and robotics, including AGVs, has surged. This is particularly evident in sectors with complex supply chain operations and those requiring high levels of precision and repeatability. The ongoing labor shortages in many developed countries have also catalyzed the adoption of AGVs, as companies seek reliable and cost-effective alternatives to manual labor. Consumer expectations for faster, more reliable delivery of goods have prompted companies in the logistics and e-commerce sectors to invest heavily in AGV technology to speed up order fulfillment processes and improve inventory management. Technological integration, such as AI and machine learning, has enabled AGVs to perform more complex tasks and make smarter decisions, further enhancing their attractiveness to industries looking to future-proof their operations. As these trends continue, the AGV market is expected to experience robust growth, driven by both technological innovation and strategic industrial demands.
The growth in the Automated Guided Vehicle market is driven by several factors, primarily related to technological advancements, evolving industrial requirements, and changing workforce dynamics. As industries continue to pursue higher efficiency and reduced operational costs, the demand for automation and robotics, including AGVs, has surged. This is particularly evident in sectors with complex supply chain operations and those requiring high levels of precision and repeatability. The ongoing labor shortages in many developed countries have also catalyzed the adoption of AGVs, as companies seek reliable and cost-effective alternatives to manual labor. Consumer expectations for faster, more reliable delivery of goods have prompted companies in the logistics and e-commerce sectors to invest heavily in AGV technology to speed up order fulfillment processes and improve inventory management. Technological integration, such as AI and machine learning, has enabled AGVs to perform more complex tasks and make smarter decisions, further enhancing their attractiveness to industries looking to future-proof their operations. As these trends continue, the AGV market is expected to experience robust growth, driven by both technological innovation and strategic industrial demands.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Forklift Truck segment, which is expected to reach US$1.1 Billion by 2030 with a CAGR of a 5.6%. The Tow Vehicle segment is also set to grow at 6.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $473.9 Million in 2023, and China, forecasted to grow at an impressive 8.4% CAGR to reach $661.6 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Automated Guided Vehicles Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Automated Guided Vehicles Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Automated Guided Vehicles Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Hitachi Ltd., KION Group AG, Daifuku Co., Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 73 Featured):
- Hitachi Ltd.
- KION Group AG
- Daifuku Co., Ltd.
- Hyster-Yale Materials Handling, Inc.
- JBT Corporation
- Bastian Solutions, Inc.
- Jungheinrich AG
- Konecranes PLC
- Conveyor Handling Company
- Aethon, Inc.
- Hi-tech Robotic Systemz Ltd.
- Kollmorgen Corporation
- inVia Robotics, Inc.
- Amer Group
- Arround Inc.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned
- Hitachi Ltd.
- KION Group AG
- Daifuku Co., Ltd.
- Hyster-Yale Materials Handling, Inc.
- JBT Corporation
- Bastian Solutions, Inc.
- Jungheinrich AG
- Konecranes PLC
- Conveyor Handling Company
- Aethon, Inc.
- Hi-tech Robotic Systemz Ltd.
- Kollmorgen Corporation
- inVia Robotics, Inc.
- Amer Group
- Arround Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 833 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 2.4 Billion |
| Forecasted Market Value ( USD | $ 3.6 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
