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Pulished Date April, 2021
ID: 8916
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Automated Guided Vehicle Market Analysis - By Vehicle Type (Unit load Carrier, Tow vehicle, Forklift Truck, Pallet Truck, Hybrid Vehicles & Others), By Navigation Type (Magnetic Guidance, Laser Guidance, Inductive Guidance, Vision Guidance, Natural Navigation, and Others), By End-Use Industry (Automotive, Food & Beverage, Electronics & Electrical, Retail, Pharmaceuticals and General Manufacturing), By Region ((North America (U.S., Canada), Europe (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of EU), Asia Pacific (India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC), Latin America (Brazil, Mexico, Argentina, Chile), Middle East and Africa (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA)) - Global Industry Analysis on Size, Share, Growth, Demand, Competition & Forecast | 2021 - 2026

Pulished: April, 2021
ID: 8916
Pages: 100

Automated Guided Vehicle Market Overview:

As per the latest published report, the size of the Automated Guided Vehicle Market is expected to be estimated at USD 2.16 Billion in 2020 and is expected to expand at a CAGR 11.2% to USD 3.67 Billion by 2026 between the forecast period of 2021 – 2026.

Automated Guided Vehicle (AGV) is a small, mobile robot that follows designated long lines on the floor or uses radio signals, vision sensors, lasers or magnets for navigation. These are most commonly used in commercial applications to transfer bulky goods around a huge industrial plant, such as a manufacturing plant or warehouse. The use of the automatic guided vehicle was extended during the late 20th century.

Recent Developments in the industry:

  • In April 2018, Locus Robotics announced a partnership with E2 Solutions, Inc., a supply chain agency and an IT consulting firm. The goal of the collaboration was to combine the former company's warehouse robotics solution with the High Jump Warehouse Management System. The implementation is expected to help provide a full end-to-end warehouse management solution to both customers and partners.
  • In April 2019, Daifuku, a leading player in the Automated Guided Vehicle Market, acquired Vega Conveyors & Automation, a leading player on the material handling systems industry in the Asia Pacific region.
  • The KION Group established a new industrial truck facility in India in March 2019. The new plant, spread over 95,000 sq.mts, would be opened in early 2020. The plan will include a state-of-the-art production plant, research, and development center, a training center for service personnel and a place for Dematic's future growth in India.

Market Drivers

  • The overwhelming need for high efficiency in the automobile, healthcare, e-commerce, and food & beverage sectors is leading to the requirement of automation in these industries. The AGV-enabled automation of industrial installations will help meet the needs of material handling efficiency, reduce production time, reduce the chances of human error, increase safety, ensure high production volumes and increase reliability and repeatability. 
  • The use of AGVs allows the shipment of raw materials promptly, the computerized monitoring of the assembled parts obtained, and the tracking of the products delivered. AGV helps store, carry and transport goods without human intervention, thus eliminating the possibility of injuries to workers and damage to items. The simplification of handling inventory helps in the quicker and easier organization, which is quite helpful, especially in assembly line manufacturing industries.

Key Restraints

  • Significant capital expenditure is required for the installation and operation of AGVs. High costs can deter manufacturing companies from choosing high-end AGVs. Small businesses cannot afford automated systems and therefore opt for manual handling of forklift trucks. This is a minor constraint for the key players in the Automated Guided Vehicles market.
  • One has to be certain about the number of AGV’s that one's going to implement in a warehouse or industrial; plant, but as the demand for the component and the demands for the final products are highly volatile, this accurate approximation is not possible, which often results in the using more AGV’s than required which is not very cost-efficient, so this can be considered as a significant restraint of the Automated Guided Vehicle Market.




Market Size Available

2021 – 2026

Base Year


Forecast Period

2021 - 2026

Segments Covered

By Waste, End-User, Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Daifuku Co., Ltd.; Egemin Automation Inc.; Swisslog Holding Ltd.; Dematic Corp.; Bastian Solutions, Inc.; Seegrid Corporation; JBT Corporation; Hyster-Yale Group, Inc.; Toyota Industries Corporation; Kollmorgen; Balyo Inc.; EK Automation; Elettric80 SpA; KMH Systems, Inc.; Fetch Robotics, Inc.


Segmentation of Automated Guided Vehicle Market is categorized as below:

Automated Guided Vehicle Market - By Vehicle Type

  • Unit load Carrier
  • Tow vehicle
  • Forklift Truck
  • Pallet Truck
  • Hybrid Vehicles
  • Others

Based on the Vehicle Type, the unit load carrier segment is expected to grow to the highest CAGR in the forecast period. 

The category for forklift trucks is also expected to see a noticeable increase. Forklifts that are powered manually do not have an incorporated safety mechanism. These forklifts depend on inputs received by their operators. Any mistake in these inputs can lead to mishaps and accidents. Automated forklift driven vehicles may reduce the potential of any such occurrence. AGVs may also be used in working environments involving lower temperatures and exposure to hazardous chemicals, among others, which may not be safe for humans.

Automated Guided Vehicle Market - By End-Use

  • Automotive
  • Food & Beverage
  • Electronics & Electrical
  • Retail
  • Pharmaceuticals and General Manufacturing

Automated Guided Vehicle Market - By Navigation Type:

  • Magnetic Guidance
  • Laser Guidance
  • Inductive Guidance
  • Vision Guidance
  • Natural Navigation
  • Others

Based on the Navigation Type, the laser guidance segment produced the highest revenue in 2018, and the vision guidance segment is expected to see a significant CAGR of 19.6% over the forecast period. The need for active and intelligent routing leads to the upward adoption of automated guided vehicles.

Advances in computer vision and software solutions allow AGVs to better assess the world around them in real-time, increasing their demand for operations in challenging environments. Camera-based vision complemented by LiDAR sensors and AGV-mounted computer systems will help ensure precise navigation within production facilities and warehouses. Such cameras are capable of obtaining information in real-time, identifying obstacles and of observing the infrastructure within the facilities. Information provided by such cameras and LiDAR sensors may help to create a 3D image of the operating area.

Automated Guided Vehicle Market - Region

  • North America
    • U.S
    • Canada
  • Europe
    • Norway
    • Germany
    • Sweden
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America and Middle East Africa
    • Brazil
    • Saudi Arabia

Regionally, Europe dominated the global market for Automated Guided Vehicles in 2018 and is expected to continue the leading market during the forecast period. In particular, the market is driven by the growing need for material handling equipment and the widespread adoption of automation technologies by companies. The online shopping industry has grown substantially in developing economies such as China and India, which have increased the opportunities for automated vehicle guidance in the Asia-Pacific region.

Key Players of Market:

Some of the key players of the Global Automated Guided Vehicle market include Daifuku Co., Ltd.; Egemin Automation Inc.; Swisslog Holding Ltd.; Dematic Corp.; Bastian Solutions, Inc.; Seegrid Corporation; JBT Corporation; Hyster-Yale Group, Inc.; Toyota Industries Corporation; Kollmorgen; Balyo Inc.; EK Automation; Elettric80 SpA; KMH Systems, Inc.; Fetch Robotics, Inc.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                           

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                              

                2.2 Research Phases                      

                                2.2.1 Secondary Research            

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling     

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                      

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                             

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                      

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market               

5. Market Segmentation                                              

                5.1 By Vehicle Type                        

                                5.1.1 Introduction           

                                5.1.2 Unit load Carrier   

                                5.1.3 Tow vehicle            

                                5.1.4 Forklift Truck          

                                5.1.5 Pallet Truck             

                                5.1.6 Others      

                                5.1.7 Y-o-Y Growth Analysis        

                                5.1.8 Market Attractiveness Analysis      

                                5.1.9 Market Share Analysis        

                5.2 By Navigation Type                 

                                5.2.1 Introduction           

                                5.2.2 Magnetic Guidence            

                                5.2.3 Laser Guidence     

                                5.2.4 Inductive Guidance             

                                5.2.5 Vision Guidance   

                                5.2.6 Natural Navigation              

                                5.2.7 Others      

                                5.2.8 Y-o-Y Growth Analysis        

                                5.2.9 Market Attractiveness Analysis      

                                5.2.10 Market Share Analysis     

                5.3 By End-Use Industry               

                                5.3.1 Introduction           

                                5.3.2 Automotive            

                                5.3.3 Pharmaceuticals   

                                5.3.4 Food & Beverage 

                                5.3.5 Electronics & Electrical       

                                5.3.6 Retail         

                                5.3.7 General Manufacturing     

                                5.3.8 Y-o-Y Growth Analysis        

                                5.3.9 Market Attractiveness Analysis      

                                5.3.10 Market Share Analysis     

6. Geographical Analysis                                              

                6.1 Introduction                              

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                       By Geographical Area

                                       By Navigation Type

                                       By End-Use Industry

                                       By Vehicle Type

                                6.1.4  Market Attractiveness Analysis     

                                       By Geographical Area

                                       By Navigation Type

                                       By End-Use Industry

                                       By Vehicle Type

                                6.1.5  Market Share Analysis      

                                       By Geographical Area

                                       By Navigation Type

                                       By End-Use Industry

                                       By Vehicle Type

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy           

                                6.2.6 France      

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan        

                                6.3.5 Australia  

                                6.3.6 South Korea           

                6.5 Latin America                            

                                6.4.1 Introduction           

                                6.4.2 Brazil         

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America         

                6.6 Middle East & Africa               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa        

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental      

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services

                                7.2.5 Competitive Rivalry within the Industry      

8. Market Leader Analysis                                           

                8.1 Daifuku Co.                 

                                8.1.1 Overview

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 Egemin Automation Inc.                       

                8.3 Swisslog Holding Ltd               

                8.4 Dematic Corp.                           

                8.5  Bastian Solutions, Inc.                           

                8.6 Seegrid Corporation               

                8.7 JBT Corporation                        

                8.8 Hyster-Yale Group                   

                8.9 Toyota Industries Corporation                           

                8.10 Kollmorgen                              

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                        

                9.3 Agreements, collaborations and Joint Ventures                          

                9.4 New Product Launches                          

10. Market Outlook and Investment Opportunities                                          


                a) List of Tables                

                b) List of Figures                              

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, application & Region, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  • Global Automated Guided Vehicle Market By Region, From 2021-2026 ( USD Billion )                       
  • Global Automated Guided Vehicle Market By Vehicle Type, From 2021-2026 ( USD Billion )                                                            
  • Global Unit Load Carrier Market By Region, From 2021-2026 ( USD Billion )                                                           
  • Global Tow Vehicle Market By Region, From 2021-2026 ( USD Billion )                                                     
  • Global Forklift Truck Market By Region, From 2021-2026 ( USD Billion )                                                   
  • Global Pallet Truck Market By Region, From 2021-2026 ( USD Billion )                                                      
  • Global Hybrid Vehicles Market By Region, From 2021-2026 ( USD Billion )                                                              
  • Global Others Market By Region, From 2021-2026 ( USD Billion )                                                                                              
  • Global Automated Guided Vehicle Market By Navigation Type, From 2021-2026 ( USD Billion )                                                     
  • Global Magnetic Guidence Market By Region, From 2021-2026 ( USD Billion )                                                      
  • Global Laser Guidence Market By Region, From 2021-2026 ( USD Billion )                                                              
  • Global Inductive Guidence Market By Region, From 2021-2026 ( USD Billion )                                                       
  • Global Vision Guidence Market By Region, From 2021-2026 ( USD Billion )                                                             
  • Global Natural Navigation Market By Region, From 2021-2026 ( USD Billion )                                                        
  • Global Others Market By Region, From 2021-2026 ( USD Billion )                                                                                            
  • Global Automated Guided Vehicle Market By End-Use, From 2021-2026 ( USD Billion )                                                    
  • Global Automotive Market By Region, From 2021-2026 ( USD Billion )                                                     
  • Global Food and Beverage Market By Region, From 2021-2026 ( USD Billion )                                                       
  • Global Electronics and Electrical Market By Region, From 2021-2026 ( USD Billion )                                                            
  • Global Retail Market By Region, From 2021-2026 ( USD Billion )                                                  
  • Global Pharmaceuticals Market By Region, From 2021-2026 ( USD Billion )                                                            
  • Global General Manufacturing Market By Region, From 2021-2026 ( USD Billion )                                                               

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