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Automated Guided Vehicle Market Size, Share, Growth & Trends Analysis Report By Type, Application, and Segment Forecasts, 2021 to 2027
Published Date: June 2021
|
Report Code: QYRE-Auto-2H3498
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Automated Guided Vehicle Market Size, Share, Growth & Trends Analysis Report By Type, Application, and Segment Forecasts, 2021 to 2027

Code: QYRE-Auto-2H3498
Report
June 2021
128 Pages
QYResearch
Region: Global,
Description
Table of Content
Tables & Figures

Automated Guided Vehicle Market Statistics 2027

In 2020, the global Automated Guided Vehicle market size was US$ 3234 million and it is expected to reach US$ 11420 million by the end of 2027, with a CAGR of 19.9% during 2021-2027. Major factors responsible for the growth of Automated Guided Vehicle market size are rising demand for automation in material handling across sectors, changing demand from mass manufacturing to mass customization, increasing e-commerce penetration, and improved occupational safety standards.
 
Automated Guided Vehicle Market
 
Automated Guided Vehicle (AGV) is an unmanned, computer-controlled mobile transport unit used for material handling and transportation in a wide range of industries. Also known as a self-guided vehicle or self-propelled vehicle, an AGV is a vehicle that is powered by a battery or an electric motor and is able to perform tasks without human supervision or operation.
 
COVID-19 is the expected cause of slump in the growth of the AGV market size. The outbreak of the COVID-19 pandemic has a major effect on sectors such as aviation, transportation, mining, and food & beverages. One of the main sectors incurring major losses due to the COVID-19 pandemic scenario is the automotive industry. Demand for vehicles has been hampered internationally due to lockdowns introduced in numerous countries around the world and suspended production activities.
 
Global Automated Guided Vehicle (AGV) Market: Key Players: Dematic, Daifuku, Siasun, Meidensha, Toyota, Swisslog, CSG, Yonegy, Rocla, JBT, DS Automotion, Aichikikai, CSIC, Ek Automation, MIR, Aethon, Atab and etc. The top five are Dematic, Daifuku, Siasun, Meidensha and Toyota, with about 25% market shares.

Automated Guided Vehicle Market Trends

Industrial development in developing markets, the intralogistics sector 's presence in Southeast Asia, and the growing adoption of industrial automation by SMEs are expected to accelerate the growth of Automated Guided Vehicle Market size during the forecast period.
 
Automated Guided Vehicle Market Size

The growth of the e-commerce industry is, in turn, expected to increase the Automated Guided Vehicle Market size. Deploying AGVs in warehouses helps e-commerce businesses automate the tasks of intralogistics, such as sorting, selection, and palletizing, thus increasing efficiency. The adoption of AGVs by the e-commerce industry is increasing substantially as industry incumbents try to roll out a reliable storage process and enhance efficiency.

Retail and commerce firms are adopting integrated robots in their warehouses. This, in turn, is expected to increase the market size during the forecast period.

The increasing need for automation in material handling processes across industries is expected to increase the Automated Guided Vehicle Market size during the forecast period. Industrial plant automation by AGV will help meet material handling capability requirements, along with reducing processing time, decreasing the likelihood of human mistakes, maintaining high output volumes, and increasing efficiency and repeatability.

Automated Guided Vehicle Market Share

North America is expected to witness stable growth as the region has a well-established manufacturing sector, and businesses are rapidly implementing automation technologies to automate their warehousing operation.

The Asia Pacific region is predicted to grow at the highest CAGR during the forecast period. This rapid growth can be attributed to the growing e-commerce industries in this region.

Automated Guided Vehicle Market Segments 

Automated Guided Vehicle Market by Type

  • Tugger Type
  • Pallet Truck
  • Unit Load Carrier
  • Others

Automated Guided Vehicle Market by Application

  • Manufacturing Sector
  • Wholesale and Distribution Sector

Automated Guided Vehicle Market by Regional and Country-Level Analysis

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Southeast Asia
  • Australia
  • Rest of Asia-Pacific
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Russia
  • Nordic Countries
  • Rest of Europe
  • Latin America
  • Mexico
  • Brazil
  • Rest of Latin America
  • Middle East & Africa
  • Turkey
  • Saudi Arabia
  • UAE
  • Rest of MEA

Major Players in the Automated Guided Vehicle Market

  • Dematic
  • Daifuku
  • Siasun
  • Meidensha
  • Toyota
  • Swisslog
  • CSG
  • Yonegy
  • Rocla
  • JBT
  • DS Automotion
  • Aichikikai
  • CSIC
  • Ek Automation
  • MIR
  • Aethon
  • Atab
  • Seegrid
  • AGVE Group

Scope of the Automated Guided Vehicle Market Report

Report Metric

Details

Report Name

Automated Guided Vehicle Market

The market size in 2020

USD 3234 Million

The revenue forecast in 2027

USD 11420 Million

Growth Rate

CAGR of 19.9% from 2021 to 2027

Base year considered

2019

Market size available for years

2021-2027

Forecast units

Value (USD)

Segments covered

Type, End-User, Offerings, and Region

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors, and trends

Geographic regions covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Frequently Asked Questions About This Report

1. How big is the automated guided vehicle market?

Ans. In 2020, the global Automated Guided Vehicle market size was US$ 3234 million and it is expected to reach US$ 11420 million by the end of 2027, with a CAGR of 19.9% during 2021-2027.

2. Which region dominated in the global automated guided vehicle market?

Ans. North America is expected to witness stable growth as the region has a well-established manufacturing sector, and businesses are rapidly implementing automation technologies to automate their warehousing operation.

3. What would be the forecast period in the automated guided vehicle market?

Ans. The forecast period for the automated guided vehicle market is 2021 to 2027

4. What are the key trends in the automated guided vehicle market report?

Ans. Major factors responsible for the growth of Automated Guided Vehicle market size are rising demand for automation in material handling across sectors, changing demand from mass manufacturing to mass customization, increasing e-commerce penetration, and improved occupational safety standards.

5. Who are the top companies hold the market share in the automated guided vehicle market?

Ans. The top companies that hold the market share in automated guided vehicle market are Dematic, Daifuku, Siasun, Meidensha, Toyota, Swisslog, CSG, Yonegy, Rocla, JBT, DS Automotion, Aichikikai, CSIC, Ek Automation, MIR, Aethon, Atab and etc.

Table of Content

 

List of Tables & Figures

 

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