Automated Guided Vehicle (AGV) Market Forecast and Technological Advancements 2024

According to the most recent worldwide Fortune Business Insights study, the worldwide Automated Guided Vehicle industry will experience considerable growth by 2032. This research provides a comprehensive analysis of market dynamics, with a focus on major opportunities, challenges, and trends that are projected to shape the industry’s future development. The Automated Guided Vehicle (AGV) Market includes autonomous vehicles used for material handling and transport within warehouses and manufacturing facilities. The market’s growth is driven by advancements in navigation technologies and the increasing need for efficient, error-free material handling systems that reduce labor costs and improve operational efficiency.

The Automated Guided Vehicle (AGV) market is experiencing significant growth, driven by the increasing adoption of automation technologies across various industries. AGVs are self-guided vehicles that use various technologies to navigate and transport materials in a controlled environment. This article will delve into the top 10 key players in the AGV market, highlighting their expertise, product offerings, and market presence.

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The global automated guided vehicle market size was valued at USD 2.12 billion in 2022 and is projected to grow from USD 2.30 billion in 2023 to USD 4.43 billion by 2030, exhibiting a CAGR of 9.8% during the forecast period. North America dominated the automated guided vehicle market with a market share of 29.24% in 2022.

1. Oceaneering International Inc (U.S.)

Oceaneering is a leading provider of engineered services and products, primarily focused on the offshore energy industry. The company also offers a range of AGV solutions, including underwater vehicles for inspection and maintenance tasks.

2. Toyota Advanced Logistics (Japan)

Toyota Advanced Logistics is a subsidiary of Toyota Motor Corporation, specializing in logistics solutions. The company offers a wide range of AGV systems, including tuggers, forklifts, and automated guided carts.

3. Daifuku Co., Ltd. (Japan)

Daifuku is a global leader in material handling systems, offering a comprehensive range of AGV solutions. The company’s AGVs are used in various industries, including manufacturing, warehousing, and logistics.

4. KION GROUP AG (Germany)

KION is a leading provider of industrial trucks and supply chain solutions. The company offers a range of AGV systems, including forklifts, tuggers, and automated guided carts.

5. Dematic (U.S.)

Dematic is a global leader in automated material handling systems. The company offers a wide range of AGV solutions, including forklifts, tuggers, and automated guided carts.

6. Hyster-Yale Materials Handling, Inc., (U.S.)

Hyster-Yale is a leading provider of materials handling equipment. The company offers a range of AGV solutions, including forklifts and tuggers.

7. JBT (U.S.)

JBT is a global technology solutions provider for the food processing, airport services, and beverage industries. The company offers a range of AGV solutions for material handling applications in these sectors.

8. Mitsubishi Caterpillar Forklift America Inc. (U.S.)

Mitsubishi Caterpillar Forklift America is a joint venture between Mitsubishi Heavy Industries and Caterpillar Inc. The company offers a range of AGV solutions, including forklifts and tuggers.

9. Crown Equipment Corporation (U.S.)

Crown Equipment is a leading manufacturer of material handling equipment. The company offers a range of AGV solutions, including forklifts and tuggers.

10. Seegrid Corporation (U.S.)

Seegrid is a leading provider of autonomous mobile robots (AMRs) for material handling applications. The company’s AMRs are used in various industries, including manufacturing, warehousing, and logistics.

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Key Insights Include:

– Analysis of market drivers, restraints, and opportunities.

– Competitive positioning and market share analysis.

– Strategic recommendations for mergers, acquisitions, and expansion.

– Examination of technological advancements and their impact on the market.

– Insights into regional market trends and consumer demand shifts.

Other Important Topics in the AGV Market

• Types of AGVs: Forklift trucks, tuggers, unit load carriers, and customized vehicles.
• AGV Technologies: Laser guidance, magnetic tape guidance, vision-guided navigation, and natural feature navigation.
• Benefits of AGVs: Increased efficiency, reduced labor costs, improved safety, and enhanced traceability.
• Challenges and Considerations: Integration with existing systems, safety regulations, and ROI analysis.
• Industry Applications: Manufacturing, warehousing, logistics, healthcare, and retail.
• Future Trends: Collaborative robots (cobots), artificial intelligence (AI), and 5G connectivity.