Automated Guided Vehicle (AGV) Market Size, Share, and Analysis, By Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks and Others), By Navigation Technology (Laser Guided, Magnetic Guided, Vision Guided, Inducti

Automated Guided Vehicle (AGV) Market Size, Share, and Analysis, By Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks and Others), By Navigation Technology (Laser Guided, Magnetic Guided, Vision Guided, Inductive Guided and Others), By Application (Transportation, Distribution, Storage, Assembly, Packaging and Waste Handling), By Industry (Automotive, Food and Beverage, Manufacturing, E-Commerce and Others) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

Automated Guided Vehicle (AGV) Market Size, Share, and Analysis, By Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks and Others), By Navigation Technology (Laser Guided, Magnetic Guided, Vision Guided, Inductive Guided and Others), By Application (Transportation, Distribution, Storage, Assembly, Packaging and Waste Handling), By Industry (Automotive, Food and Beverage, Manufacturing, E-Commerce and Others) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Automated Guided Vehicle (AGV) Market is anticipated to grow at a CAGR of 11.3% in the forecast period (2024-2034), with the market size valued at USD 3.7 billion in 2023 and projected to reach USD 12.2 billion by 2034.

Automated Guided Vehicle refers to the autonomous mobile robots which are manufactured in order to facilitate in the transportation within industrial settings, warehouses, and distribution centres without the requirement for any type human assistance. These vehicles are generally made in with various sensors, navigation systems, and fitted computers that help to navigate during work, avoiding obstacles and proactively interact with environment around them. AGVs are available in different variants such as forklifts, pallet trucks and tow vehicles while playing an essential role while assisting in handling tasks. The market consists of manufacturing, sales and distribution of AGVs and then integrating them effectively in the workspaces. The market is expected to have positive growth due to labour cost saving solutions and rising operational challenges.

MARKET HIGHLIGHTS

Automated Guided Vehicle (AGV) Market is anticipated to reach USD 12.2 billion, growing at a CAGR of 11.3% during the forecast period owing to the overall increasing demand for automation in material handling, rising labour costs, and advancements in robotics and navigation technologies. The AGVs are available in various forms of vehicle variants such as Tow Vehicles, Forklift Vehicles, Unit Load Carriers, Assembly Line Vehicles, Pallet Trucks and Others, all these different form of vehicles specialises in certain form of work and operations. AGVs are effectively equipped with different navigation technologies namely Laser Guided, Magnetic Guided, Vision Guided, Inductive Guided and Others, which all help towards navigation and is used effectively in various application referred as Transportation, Distribution, Storage, Assembly, Packaging and Waste Handling. AGVs use in the recent years have expanded to different various industries ranging from Automotive, Food and Beverage, Manufacturing to E-Commerce.

Automated Guided Vehicle (AGV) Market Segments:

• By Type
• Tow Vehicles
• Unit Load Carriers
• Forklift Trucks
• Assembly Line Vehicles
• Pallet Trucks and Others
• By Navigation Technology
• Laser Guided
• Magnetic Guided
• Vision Guided
• Inductive Guided
• Others
• By Application
• Transportation
• Distribution
• Storage
• Assembly
• Packaging
• Waste Handling
• By Industry
• Automotive
• Food and Beverage
• Manufacturing
• E-Commerce
• Others

MARKET DYNAMICS

Growth Drivers

Growing Demand For Automation In Material Handling And Logistics Has Provided Better Room For Market Development

Increase In The Overall Labour Costs With A Significant Shortage Of Skilled Workers Have Prompted The Use Of AGVs

Restraint

High Initial Investment Costs Of AGVs Are Acting As A Significant Restraint For Market Development

Key Players

• Daifuku Co., Ltd.
• Jungheinrich AG
• Swisslog Holding AG
• KION Group AG
• Toyota Industries Corporation
• Hyster-Yale Materials Handling, Inc.
• JBT Corporation
• Oceaneering AGV Systems
• Seegrid Corporation
• E&K Automation GmbH
• AGVE Group
• Murata Machinery, Ltd.
• Bastian Solutions, LLC
• Transbotics Corporation
• Fetch Robotics, Inc.
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global Laboratory Temperature Control Units Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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