Automated Guided Vehicle Market Report 2025

The automated guided vehicle market size has grown rapidly in recent years. It will grow from $5.15 billion in 2024 to $5.8 billion in 2025 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to market competition and demand, sustainability initiatives, increased e-commerce activities, industrial automation, cost efficiency.

The automated guided vehicle market size is expected to see rapid growth in the next few years. It will grow to $9.26 billion in 2029 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to global logistics demand, rise in automation, safety enhancement, adaptability and flexibility, regulatory standards. Major trends in the forecast period include autonomous warehousing, integration with industry 4.0, energy efficiency and sustainability, flexibility and adaptability.

The growth of the e-commerce and retail sectors is expected to drive the expansion of the automated guided vehicle market. E-commerce refers to the buying and selling of products and services through electronic networks, primarily the internet. The e-commerce industry is experiencing growth due to shifts in consumer preferences, increased convenience, and personalized experiences. Utilizing automated guided vehicles in e-commerce warehouses and retail centers facilitates material handling, efficient packaging, and effective supply chain management. For example, in August 2023, Shopify Inc., a Canada-based e-commerce firm, reported that the global e-commerce sector was projected to be valued at $6.3 trillion in 2023. This figure is expected to grow, with online purchases estimated to account for 21.2% of all retail sales by 2024. Additionally, in February 2023, Forbes, a US-based business magazine and media outlet, projected that the global e-commerce market would exceed a valuation of $8.1 trillion by 2026. Consequently, the growth in e-commerce and retail is anticipated to drive the automated guided vehicle market.

The increasing demand for automation solutions is poised to fuel growth within the automated guided vehicles market. Automation solutions leverage technology and software to execute tasks and processes with minimal human intervention, aimed at streamlining operations, boosting efficiency, and enhancing productivity across diverse sectors. Incorporating automation solutions into AGVs aligns with the broader Industry 4 trend, emphasizing smart technology and connectivity to drive intelligent and automated production and logistics operations. Notably, Cavintek Inc. reported in October 2023 that over 80% of corporate executives indicated a surge in productivity automation and the utilization of remote workers, with 43% of businesses intending to reduce their workforce through automation technology solutions. This surge in demand for automation solutions is a significant factor driving the automated guided vehicles market.

Technological advancements stand out as a pivotal trend driving the evolution of the automated guided vehicles market. Leading industry players are focused on innovating technologies like Internet of Things (IoT)-based vehicles to solidify their positions in this sector. IoT involves connecting various physical items over the internet to establish a network of interconnected objects capable of independent data communication. For instance, in February 2022, Murata Machinery USA, Inc. announced the launch of a diverse range of autonomous guided vehicles (AGVs) under the A-Series. This series encompasses seven base models adaptable for varying load capacities, lift heights, navigation techniques, temperature ratings, and software applications. The A-Series vehicles, including forklifts, rollers, and raised deck models, accommodate weight loads ranging from a few pounds to 65 tons, with lift heights reaching up to 36 feet. These vehicles operate effectively in extreme temperatures spanning from -10 to 104 degrees Fahrenheit, integrating multiple navigation systems and layers of safety features. Moreover, they adhere to safety standards like ANSI/ITSDF and ISO 3691-4 and are classified for clean production settings, contributing to the advancement of the automated guided vehicle market.

Major players in the automated guided vehicles (AGV) market are strategically embracing partnerships to foster the development of advanced AGV solutions. Strategic partnerships involve collaborative ventures where companies leverage each other's strengths and resources to achieve mutual benefits and attain success in their endeavors. Notably, in December 2022, Front AGV, a Sweden-based AGV manufacturing company, forged a partnership with Kollmorgen Automation. Front AGV opted for NDC Solutions by Kollmorgen, an advanced software and hardware system known for its superior reliability and configurability in automobile routing and navigation. This collaboration enables Front AGV to expedite its development processes and create optimized vehicle systems by closely aligning with Kollmorgen Automation, a US-based firm specializing in automation solutions.

In January 2023, Barcoding Inc., a US-based company specializing in supply chain automation, announced its acquisition of FRED Automation Inc. for an undisclosed amount. This acquisition aims to strengthen Barcoding's capabilities in industrial automation and improve efficiency in manufacturing and warehouse operations. FRED Automation Inc. is a US-based company that specializes in automated guided vehicles.

Major companies operating in the automated guided vehicle market are Balyo, Daifuku Co Ltd., E&K Automation GmbH, JBT Corporation, Kuka AG, Oceaneering International Inc, Seegrid Corporation, Schaefer Systems International Inc., Toyota Material Handling, Swisslog Holding AG, Bastian Solution, Dematic, inVia Robotics Inc., Kollmorgen, Elettric80 S.P.A., Fetch Robotics Inc., Locus Robotics, Krones AG, SMARLOGY AGV and AMR, Wellwit Robotics, ADDVERB, AGVE GROUP, AGILOX, Creform Corporation, KMH Systems Inc., DF Automation and Robotics Sdn. Bhd., DS AUTOMOTION GmbH, Konecranes and Demag Private Limited, Egemin Automation Inc.

Asia-Pacifc was the largest region in the automated guided vehicle market in 2024. The regions covered in the automated guided vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automated guided vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An Automated Guided Vehicle (AGV) is a mechanized vehicle designed for the transportation of loads within assembly, production, or storage facilities. These vehicles are guided by computerized systems, utilizing software to determine their positioning, movement, and location. Their functions include delivering products directly to production lines and transporting materials from receiving areas to the warehouse.

The primary types of automated guided vehicles include two vehicles, unit load carriers, pallet trucks, assembly line vehicles, and forklift trucks. Two vehicles specifically pertain to motor vehicles, excluding commercial and articulated ones, and are employed for the transportation of raw materials. These vehicles utilize various navigation technologies, such as laser guidance, magnetic guidance, vision guidance, inductive guidance, and natural navigation. They find applications in transportation, distribution, storage, assembly, packaging, and waste handling across diverse industries such as automotive, manufacturing, food and beverage, aerospace, healthcare, logistics, and retail.

The automated guided vehicle market research report is one of a series of new reports that provides automated guided vehicle market statistics, including automated guided vehicle industry global market size, regional shares, competitors with an automated guided vehicle market share, detailed automated guided vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the automated guided vehicle industry. This automated guided vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automated guided vehicle market consists of sales of heavy burden carriers, portable robots, mobile robots, pallets, wheeled transport trolley. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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