Automated Guided Vehicle Market

Automated Guided Vehicle Market

Automated Guided Vehicle Market Forecasts to 2028 - Global Analysis By Battery Type (Nickel-Based, Lithium-Ion, Lead), Navigation Technology (Optical Tape Guidance, Vision Guidance) and By Geography

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Published: 2022 ID: SMRC21939

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $2.41 BN

Projected Year Value (2028)

US $3.98 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific

According to Stratistics MRC, the Global Automated Guided Vehicles Market is accounted for $2.41 billion in 2022 and is expected to reach $3.98 billion by 2028 growing at a CAGR of 8.7% during the forecast period. Automated guided vehicles (AGVs) are totally automated transport systems that are used in manufacturing of unmanned vehicles. The main function of these vehicles is to safely transport all types of products and materials without any human interference. Automated guided vehicles are widely being used in areas of production, logistics, warehousing, and distribution as they ensure profitability through efficient and accurate operations.

According to the e-commerce Europe report, the region's online-sales increased by 13% in 2019, and total sales were valued at EUR 621 billion, and the concentration of the market is expected to be focused in Western Europe, a majority of the turnover from the B2C platform is from the region (66%). Owing to such developments, vendors in the market are increasingly adopting automation.For instance, ThyssenKrupp's material handling division is investing over EUR 70 million in its European warehousing and logistics network. Its new logistics centre is expected to be built in Rotenburg/ Wümme (Lower Saxony), with an area of 36,000 square meters and store up to 20,000 metric ton of materials. Such developments in the region are driving the demand for AGV.

Market Dynamics:


Increasing automation solution in material handling process

Better-quality technology in the material handling process has permitted industries to have linked factories, leading to the acceptance of automated material handling operations with the help of advancements such as Big Data, machine learning, and others. This allows them to have more flexible production processes, better quality control, and better labor management. As the e-commerce sector is growing across the world, the use of automated material handling systems is also increasing its presence. In addition, the increasing demand for automation is further rising in the automotive, healthcare, e-commerce, and food and beverage industries due to the general requirement for high efficiency. Additionally, AGV-enabled industrial facility automation may assist satisfy material handling capacity needs while also lowering production time, minimizing the risk of human mistakes, improving safety, assuring high production volumes, and boosting precision and repeatability.


High Maintenance Cost

As automated guided vehicles can decrease labour, erroneous, and wastage costs significantly, the maintenance cost necessary for optimal performance of these vehicles may act as a restraining factor. Initial investment in AGVs can be burdensome for smaller operations and could be more expensive than hiring personnel for similar tasks. These vehicles are not suitable for non-repetitive tasks, which can be normally performed by staff operating forklifts.Like any other equipment, AGVs require routine maintenance and occasional repair. Increased dependency on AGVs can hinder daily operations at the time of maintenance, which can result in losses if not handled carefully. This might limit the adoption of automated guided vehicles in emerging markets.


Growing preference for mobile robots over AGVs in retail and e-commerce industries

The e-commerce and retail industries are extremely dependent on the logistics sector for their smooth operations. For improving their operational efficiency the companies in the e-commerce and retail industries are choosing automated material handling equipment. In the e-commerce industry, companies are using mobile robots for automating warehouse operations.Mobile robots are used as self-driving logistics vehicles for indoor operations in the e-commerce and retail industries. They offer a new approach to warehouse automation because of their features such as mobile shelves, robotic drive units, sophisticated control software, and workstations to automate pick, pack, and ship processes.


Technical challenges

The on-time technical challenges related to any detecting element in material handling equipment could stop the complete process. For example, an AGV will not respond to provided commands efficiently if the sensing element of the AGV is not installed correctly. Failure of the sensor in this system would stop the entire process as a sensor is the most critical element of any AGV system for navigation and other operations. Besides, any fault in the control software may lead to improper functioning of the AGVs; this could delay the entire production process. Mechanical failures can result from improper maintenance, causing loss of production and performance.
Many businesses have suffered or are experiencing losses, owing to a production gap due to statewide imposed lockdowns to stop the virus transmission. The manufacturing industry witnessed a significant drop in earnings and income as a result of the COVID-19 pandemic. Business operations have seen a large reduction in workforce, resulting in overall loss in manufacturing activity. Due to significant layoffs, financial difficulties, and attrition, small & medium enterprises (SMEs) were the worst impacted. Furthermore, during such instability, the deployment & industrial automation of AGVs played a critical role in safeguarding enterprises to achieve their production goals. The pandemic has formed several opportunities for this industry by enabling businesses to continue operating. However, industry operations are rising as a result of mass vaccination in numerous nations. The market is anticipated to exhibit remarkable growth rate in the future, owing to increase in demand for contact less and effective logistics infrastructure.

The Vision Guidance segment is expected to be the largest during the forecast period

The Vision Guidance segment is expected to be the largest during the forecast period. As vision-guided vehicles learn a route by “seeing” as it travels through the 360-degree in-built camera. The visual record is then transformed into computer code. The vehicle then can respond to directions, recognizing routes by matching what it sees to what it learned.

The lead segment is expected to have the highest CAGR during the forecast period

The lead segment is expected to have the highest CAGR during the forecast period. These batteries have low-cost advantages over other battery types. Moreover, it offers good reversibility, stable voltage, and long service life, and is suitable for an extensive range of applications.

Region with highest share:

North America is projected to hold the largest market share during the forecast period,owing to an increase in expenditure across the U.S. and Canada. Also, the U.S is witnessing continuous growth in import and export activities. Moreover, the modern manufacturing facilities in North America rely on technological innovation to maximize the product's quality. The presence of major companies in the province is driving revenue growth of the regional market. Manufacturers are relying on modern technology and innovations to manufacture improved products at lower expense and faster time.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. The province growth is supported by the increasing manufacturing and logistics activities in the emerging countries such as China and India. The flourishing manufacturing and automobile sectors in the region are expected to spur the demand for the market growth.The e-commerce industry has been growing considerably in emerging economies of the Asia Pacific region, such as China and India. For instance, in October 2021, Shenzhen Casun Intelligent Robot Co., Ltd., an automation machinery manufacturing company, launched CASUN Intelligent Robot “little giant.” The CASUN’s self-deployed intelligent control lets AGV perform in and out of the warehouse to achieve and fulfill the loading and unloading in various industries. Such a surge in the e-commerce industry is encouraging several e-commerce companies to consider a foray into these regional markets.

Key players in the market

Some of the key players profiled in the Automated Guided Vehicles Market include KonecranesMotum, ABB Ltd, Daifuku Co., Ltd, Seegrid Corporation, Fetch Robotics, Transbotics Corporation, Savant Automation, SSI Schaefer Systems International DwcLlc, KUKA Group, Jungheinrich Group, Murata Machinery, Dematic Corp, Toyota Material Handling, John Bean Technologies (Jbt) Corporation, Addverb Technologies, Swisslog Holding, AmerdenInc and Oceaneering AGV Systems.

Key Developments:

In March 2020:Seegrid Corporation announced to raise a fund of USD 25 million by venture capital firm G2VP. The company mentioned that the funding was driven due to the COVID-19 outbreak, and the industry requires non-essential workers to follow social distancing regulations coupled with industrial roles that require people to be present physically.

In April 2019:Daifuku Co., Ltd. acquired Vega Conveyors & Automation. The latter company is involved in designing, consulting, installation, manufacturing, and after-sales service of conveyors and other equipment within its domestic market in India..

Battery types Covered:
• Nickel-Based
• Lithium-Ion
• Lead
• Other Battery Type

Navigation Technologies Covered:
• Optical Tape Guidance
• Vision Guidance
• Laser Guidance
• Inductive Guidance
• Magnetic Guidance
• Other Navigation Technologies

Types Covered:
• Assembly Line Vehicle
• Pallet Truck
• Tow Vehicle
• Forklift Truck
• Unit Load Carrier

Applications Covered:
• Packaging
• Assembly
• Storage
• Distribution
• Transportation

End Users Covered:
• Retail
• Healthcare
• Logistics
• Aerospace
• Food & Beverage
• Manufacturing
• Automotive
• Other End users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Automated Guided Vehicle Market, By Battery Type
5.1 Introduction
5.2 Nickel-Based
5.3 Lithium-Ion
5.4 Lead
5.5 Other Battery Types

6 Global Automated Guided Vehicle Market, By Navigation Technology
6.1 Introduction
6.2 Optical Tape Guidance
6.3 Vision Guidance
6.4 Laser Guidance
6.5 Inductive Guidance
6.6 Magnetic Guidance
6.7 Other Navigation Technologies

7 Global Automated Guided Vehicle Market, By Type
7.1 Introduction
7.2 Assembly Line Vehicle
7.3 Pallet Truck
7.4 Tow Vehicle
7.5 Forklift Truck
7.6 Unit Load Carrier

8 Global Automated Guided Vehicle Market, By Application
8.1 Introduction
8.2 Packaging
8.3 Assembly
8.4 Storage
8.5 Distribution
8.6 Transportation

9 Global Automated Guided Vehicle Market, By End User
9.1 Introduction
9.2 Retail
9.3 Healthcare
9.4 Logistics
9.5 Aerospace
9.6 Food & Beverage
9.7 Manufacturing
9.8 Automotive
9.9 Other End users

10 Global Automated Guided Vehicle Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Konecranes
12.2 Motum
12.3 ABB Ltd
12.4 Daifuku Co., Ltd
12.5 Seegrid Corporation
12.6 Fetch Robotics
12.7 Transbotics Corporation
12.8 Savant Automation
12.9 SSI Schaefer Systems International Dwc Llc
12.10 KUKA Group
12.11 Jungheinrich Group
12.12 Murata Machinery
12.13 Dematic Corp
12.14 Toyota Material Handling
12.15 John Bean Technologies (Jbt) Corporation
12.16 Addverb Technologies
12.17 Swisslog Holding
12.18 Amerden Inc
12.19 Oceaneering AGV Systems

List of Tables
1 Global Automated Guided Vehicle Market Outlook, By Region (2020-2028) ($MN)
2 Global Automated Guided Vehicle Market Outlook, By Battery Type (2020-2028) ($MN)
3 Global Automated Guided Vehicle Market Outlook, By Nickel-Based (2020-2028) ($MN)
4 Global Automated Guided Vehicle Market Outlook, By Lithium-Ion (2020-2028) ($MN)
5 Global Automated Guided Vehicle Market Outlook, By Lead (2020-2028) ($MN)
6 Global Automated Guided Vehicle Market Outlook, By Other Battery Types (2020-2028) ($MN)
7 Global Automated Guided Vehicle Market Outlook, By Navigation Technology (2020-2028) ($MN)
8 Global Automated Guided Vehicle Market Outlook, By Optical Tape Guidance (2020-2028) ($MN)
9 Global Automated Guided Vehicle Market Outlook, By Vision Guidance (2020-2028) ($MN)
10 Global Automated Guided Vehicle Market Outlook, By Laser Guidance (2020-2028) ($MN)
11 Global Automated Guided Vehicle Market Outlook, By Inductive Guidance (2020-2028) ($MN)
12 Global Automated Guided Vehicle Market Outlook, By Magnetic Guidance (2020-2028) ($MN)
13 Global Automated Guided Vehicle Market Outlook, By Other Navigation Technologies (2020-2028) ($MN)
14 Global Automated Guided Vehicle Market Outlook, By Type (2020-2028) ($MN)
15 Global Automated Guided Vehicle Market Outlook, By Assembly Line Vehicle (2020-2028) ($MN)
16 Global Automated Guided Vehicle Market Outlook, By Pallet Truck (2020-2028) ($MN)
17 Global Automated Guided Vehicle Market Outlook, By Tow Vehicle (2020-2028) ($MN)
18 Global Automated Guided Vehicle Market Outlook, By Forklift Truck (2020-2028) ($MN)
19 Global Automated Guided Vehicle Market Outlook, By Unit Load Carrier (2020-2028) ($MN)
20 Global Automated Guided Vehicle Market Outlook, By Application (2020-2028) ($MN)
21 Global Automated Guided Vehicle Market Outlook, By Packaging (2020-2028) ($MN)
22 Global Automated Guided Vehicle Market Outlook, By Assembly (2020-2028) ($MN)
23 Global Automated Guided Vehicle Market Outlook, By Storage (2020-2028) ($MN)
24 Global Automated Guided Vehicle Market Outlook, By Distribution (2020-2028) ($MN)
25 Global Automated Guided Vehicle Market Outlook, By Transportation (2020-2028) ($MN)
26 Global Automated Guided Vehicle Market Outlook, By End User (2020-2028) ($MN)
27 Global Automated Guided Vehicle Market Outlook, By Retail (2020-2028) ($MN)
28 Global Automated Guided Vehicle Market Outlook, By Healthcare (2020-2028) ($MN)
29 Global Automated Guided Vehicle Market Outlook, By Logistics (2020-2028) ($MN)
30 Global Automated Guided Vehicle Market Outlook, By Aerospace (2020-2028) ($MN)
31 Global Automated Guided Vehicle Market Outlook, By Food & Beverage (2020-2028) ($MN)
32 Global Automated Guided Vehicle Market Outlook, By Manufacturing (2020-2028) ($MN)
33 Global Automated Guided Vehicle Market Outlook, By Automotive (2020-2028) ($MN)
34 Global Automated Guided Vehicle Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, Asia Pacific, South America & Middle East & Africa, regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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