What is Automated Guided Vehicles Market?
Automated guided vehicles, also known as self-guided vehicles, are driverless, mobile vehicles programmed to travel autonomously throughout a warehouse, distribution center, or manufacturing facility for transport materials. It has a high demand for many warehouse applications across numerous industries to compensate for employee shortages, reduce labor costs, and increase warehouse efficiency.
Highlights from Automated Guided Vehicles Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | JBT (United States), Toyota Motor Corporation (Japan), Bastian Solutions (United States), Swisslog Holding AG (Switzerland), Daifuku Co., Ltd. (Japan), Hyster-Yale (United States), SSI Schaefer (Germany), E&K Automation (Germany), Oceaneering (United States), Murata Machinery (Japan), KNAPP (Austria), Seegrid (United States), AGV International (Netherlands), Addverb Technologies (India), America in Motion (United States), Meiden America (United States), Grenzebach (United States), Rocla (Finland) and Denbach Robot (China) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Automated Guided Vehicles market throughout the forecasted period.
JBT (United States), Toyota Motor Corporation (Japan), Bastian Solutions (United States), Swisslog Holding AG (Switzerland), Daifuku Co., Ltd. (Japan), Hyster-Yale (United States), SSI Schaefer (Germany), E&K Automation (Germany), Oceaneering (United States), Murata Machinery (Japan), KNAPP (Austria), Seegrid (United States), AGV International (Netherlands), Addverb Technologies (India), America in Motion (United States), Meiden America (United States), Grenzebach (United States), Rocla (Finland) and Denbach Robot (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Uncease Automation (India), ECA (France), Scott Automation (New Zealand), Redviking (United States), IKV Robot (China) and Echkart (United States). Automated Guided Vehicles Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Transportation, Packaging, Assembly, Distribution, Storage and Others |
Type | Unit Load Carrier, Pallet Truck, Tow Vehicle, Assembly Line Vehicle and Others |
Industry | Automotive,Manufacturing,Food & Beverages,Aerospace,Healthcare,Logistics,Retail,Others |
Navigation Technology | Laser Guidance,Magnetic Guidance,Inductive Guidance,Optical Tape Guidance,Vision Guidance,Others |
On the basis of geography, the market of Automated Guided Vehicles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Shifting Demand from Mass Production to Mass Customization
Market Growth Drivers:
Increasing Demand for Automation in Material Handling Processes Across Industries and Improving Safety Standards at the Workplaces
Challenges:
Technical Challenges Related to Sensing Elements
Restraints:
High Initial Investment Costs and High Installation, Maintenance and Switched Costs
Opportunities:
Industrial Growth in Emerging Economies and Rising Popularity of E-commerce
Key Target Audience
Automated Guided Vehicles Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
Market Leaders & Development Strategies
In April 2021, Toyota Industries Corporation launched a global autonomous vehicle software development company. Toyota Industries Corporation (TICO) announced the formation of a new company called T-Hive. The new company is a partnership between Toyota L&F, Bastian Solutions, Toyota Forklifts, Vanderlande, Toyota Material Handling, and Raymond. T-Hive B.V. will be based in the Netherlands and led by Léon Jansen.
In April 2021, to meet the growing needs of customers, Toyota Industries Corporation (TICO) will tie its software development to autonomous vehicles (AVs), increase its global investment, and establish T-Hive B.V. as a new center of expertise. By combining software products, partnerships, and innovations from TICO's key group companies Toyota L&F, Toyota Material Handling, Toyota Material Handling Europe, Raymond, Bastian Solutions, and Vanderlande and their respective brands, the organization significantly strengthens and expands TICO's key brand solutions portfolio. do.