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Global $ 9.32 Billion Automated Guided Vehicle Markets, 2021-2028 – Manufacturers Introduce Vision Guided Vehicles and Mobile Robots –

By on October 11, 2021 0

DUBLIN – (COMMERCIAL THREAD) – “Global Automated Guided Vehicles Market 2021-2028” report has been added to offer.

The global automated guided vehicles market size is expected to reach USD 9.32 billion by 2028. The market is expected to grow at a CAGR of 13.0% from 2021 to 2028.

AGVs have transformed the way materials can be moved around manufacturing and distribution facilities. In a production environment where multiple operations are performed simultaneously, Automated Guided Vehicles (AGVs) provide predictable and reliable transfer of raw materials as well as manufactured products from one point to another within the facility, eliminating the need for any potential disruption in production.

These vehicles can operate safely around structures, machines and workers, as they are equipped with accessories, such as camera vision and LiDAR sensors, among others, which help detect intersections, identify signs signaling and to avoid collisions with any obstacle.

Several manufacturing plants and warehouses deploy material handling equipment for various activities, such as locating inventory, preparing orders and moving products and raw materials. Transportation and logistics companies are mainly focusing on the deployment of such equipment to increase the efficiency of their operations in line with the growing demand for their services.

For example, in September 2019, a US-based robotic solutions provider, AHS, LLC, partnered with Exotec, a France-based mobile robot picking system provider. The old company introduced 3D mobile robots that can move in three dimensions and allow warehouse team members to focus on packaging and shipping and overlook the long distances to travel to access to stocks.

In addition, material handling solutions are used to increase transportation efficiency, reduce physical damage to equipment, and reduce overhead costs by limiting the number of employees.

The AGV market is witnessing a gradual shift from lead-acid batteries to lithium-ion batteries. Lithium-ion batteries offer several advantages over lead-acid batteries. They tend to be lighter and more compact. They can charge faster, offer longer run times, and support more charge cycles.

Therefore, they are ideal for AGVs, as they do not need to be recharged frequently during work shifts or in 24/7 operating environments, and AGVs running on lithium batteries. ion can offer higher round trip efficiencies.

Highlights of the Automatic Guided Vehicles Market Report

  • Adoption of material handling equipment and automation solutions is increasing dramatically in several industries

  • The increasing adoption of AGVs by the automotive industry as well as the automotive supply industry to move intermediate products within the facility is expected to drive the growth of the AGV market.

  • The manufacturing industry is increasingly adopting AGVs to save on labor costs. While AGV can operate 24/7, the costs associated with purchasing and maintaining AGV tend to be lower than the costs incurred on salaries and employee benefits.

  • The logistics and warehousing segment is the largest application of automated guided vehicles. The segment generated the highest revenue in 2020 and is expected to maintain its dominance during the forecast period

  • Europe dominated the global market in 2020. However, the Asia-Pacific region is expected to grow at the highest CAGR from 2021 to 2028.

AGV Industry Outlook

Value chain analysis

  • Commodity trends

  • Market analysis of the main raw materials

  • Key end users

AGV market dynamics

  • Supplier / supplier trends

  • Buyers / Application Trends

  • Technological trends

  • Regulatory trends

Market Driver Analysis

  • Growing demand for automation and material handling equipment in various processing industries

  • Replacing conventional batteries with lithium-ion batteries

  • High labor costs

  • Manufacturers Introducing Vision Guided Vehicles and Mobile Robots

  • Growing e-commerce industry

  • Enhanced safety in the workplace

Analysis of market restrictions

  • High initial cost

  • Unique use and lack of flexibility

Supplier landscape

  • Swisslog Holding AG

  • Dematic

  • Bastian Solutions, Inc.

  • Daifuku Co., Ltd.

  • JBT

  • Seegrid Company

  • Toyota Industries Corporation

  • Hyster-Yale Materials Handling, Inc.


  • E&K Automation GmbH

  • Kollmorgen

  • KMH fleet solutions


  • Fetch Robotics, Inc.

  • inVia Robotics, Inc.

  • Robotics Locus

  • Schaefer Systems International, Inc.

  • Spa Logistics System

  • Scott

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