Automated Guided Vehicle (AGV) Market Report Scope & Overview:

The Automated Guided Vehicle (AGV) Market Size was valued at USD 3.32 billion in 2022 and is expected to reach USD 6.59 billion by 2030 and grow at a CAGR of 8.95% over the forecast period 2023-2030.

Self-guided material handling systems or load carriers are self-guided material handling systems or load carriers that can travel autonomously across distribution centers, warehouses, or industrial facilities with the help of sensors installed aboard. Automation has been seen in supply chain management in the form of automated guided vehicles such as forklifts, automated stackers, tiny rack-carrying robots, and pallet trucks in recent years. Furthermore, these vehicles are configured to accomplish certain duties using machine learning and deep learning, which are the safest options for personnel material handling.

Automated Guided Vehicle (AGV) Market Revenue Analysis

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AGVs are widely used due to various advantages, including lower labor costs, less product damage, more production, and scale to assist automation operations. These significant benefits are pushing transportation and logistics companies to use AGVs to improve the efficiency of their operations. It also aids in the transportation of commodities on supply trolleys, ensuring their safety.



  • Industry 4.0 adoption of automated guided vehicles is projected to improve warehouse safety

  • Lower labor costs in organizations encourage market growth


  • The automated guided vehicle market's growth is hampered by a lack of flexibility

  • High upfront investment expenditures and installation costs


  • Overall company adoption of Industry 4.0 is minimal

  • Manufacturers of automated guided vehicles with a focus on incorporating industry 4.0

  • The adoption of Industry 4.0 is expected to open up significant potential prospects for participants


  • AGVs require routine maintenance and repair from time to time

  • Increased reliance on AGVs can stymie regular operations during maintenance, resulting in losses if not handled properly


The COVID - 19 outbreaks have wreaked havoc on practically every business around the world. As governments around the world imposed statewide lockdowns to stop the epidemic's spread, many businesses have suffered or are experiencing losses owing to a production gap. The manufacturing industry has seen a significant drop in profits and income as a result of the pandemic. Businesses have seen major personnel reductions, resulting in a loss in manufacturing operations overall. During such turbulence, industrial automation and the deployment of AGVs play a critical role in ensuring that enterprises reach their production targets.

Market, By Type:

Based on type, the market is divided into five categories: Tow Vehicles, Assembly Line Vehicles, Pallet Trucks, Unit Load Carriers, Forklift Vehicles, and Others. In 2022, the Automated Guided Vehicle (AGV) Market is likely to be dominated by tow trucks. Tow vehicles, sometimes known as tuggers, are used to pull non-powered carts with heavy loads. Because it can move greater loads with several trailers than a single fork truck, this is the most productive type of AGV utilized for towing and tugging.

Market, By Navigation Technology:

Based on navigation technology, the market is divided into five categories: Laser Guidance, Inductive Guidance, Magnetic Guidance, Vision Guidance, Optical Tape Guidance, and Others. The market for laser-guided AGVs is growing because to the laser guiding technology's versatility, scalability, and accuracy. It also boosts throughput, improves safety, and reduces downtime. Laser guidance is the most versatile and accurate vehicle navigation system available. It permits the trucks to run without the usage of obtrusive barriers in a warehouse.

Market, by Industry:

Based on the application, the market is divided into eight categories: Automotive, Food & Beverages, Metals & Heavy Machinery, Semiconductors & Electronics, E-commerce, Chemicals, Healthcare, 3PL, Aviation, and Others. Over the projected period, the wholesale and distribution industry is expected to grow at the fastest rate of 12.2 percent. E-commerce, grocery stores, retail chains/conveyance stores, and hotels & restaurants are all sub-segments of the wholesale & distribution business.


By Type:

  • Tow Vehicles

  • Assembly Line Vehicles

  • Pallet Trucks

  • Unit Load Carriers

  • Forklift Vehicles

  • Others

By Navigation Technology:

  • Laser Guidance

  • Inductive Guidance

  • Magnetic Guidance

  • Vision Guidance

  • Optical Tape Guidance

  • Others

By Industry:

  • Automotive

  • Food & Beverages

  • Metals & Heavy Machinery

  • Semiconductors & Electronics

  • E-commerce

  • Chemicals

  • Healthcare

  • 3PL

  • Aviation

  • Others

Automated Guided Vehicle (AGV) Market Segmentation Analysis

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In 2022, the Europe region dominated the market, accounting for almost 31% of total sales. Furthermore, the European regional market is expected to stay dominant throughout the forecast period. The increasing demand for material handling equipment by manufacturing industry incumbents is driving the expansion of the regional market. Additionally, automation in every area has aided the market's expansion in this region.

Over the projected period, the Asia Pacific area is expected to grow at the fastest rate of 11.2%. In the Asia Pacific emerging economies such as China and India, the e-commerce business has been rapidly expanding. As the e-commerce business grows, various e-commerce companies are considering expanding into these regional markets.


  • North America

    • The USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • The UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America


The major key players in the automated guided vehicle market are Swisslog Holding AG, Egemin Automation Inc., Inc., Daifuku Co., Ltd., TOYOTA INDUSTRIES CORPORATION, Dematic, JBT, Seegrid Corporation, Bastian Solutions, Hyster-Yale Materials Handling, Inc., BALYO, E&K Automation GmbH, Kollmorgen, KMH Fleet Solutions, ELETTRIC80 S.P.A., Fetch Robotics, Inc., Inc., Locus Robotics, inVia Robotics, Schaefer Systems International, Inc., System Logistics Spa and Transbotics.

Swisslog Holding AG-Company Financial Analysis

Automated Guided Vehicle (AGV) Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 3.32 Billion
Market Size by 2030 US$ 6.59  Billion
CAGR CAGR of 8.95% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Type (Fixed Mounted, Helmet Mounted)
• by Navigation Technology (Combiner, Video Generator, Projector Unit)
• by Industry (Automotive Industry, Military & Civil Aviation Sector)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Swisslog Holding AG, Egemin Automation Inc., Inc., Daifuku Co., Ltd., TOYOTA INDUSTRIES CORPORATION, Dematic, JBT, Seegrid Corporation, Bastian Solutions, Hyster-Yale Materials Handling, Inc., BALYO, E&K Automation GmbH, Kollmorgen, KMH Fleet Solutions, ELETTRIC80 S.P.A., Fetch Robotics, Inc., Inc., Locus Robotics, inVia Robotics, Schaefer Systems International, Inc., System Logistics Spa and Transbotics.
Key Drivers • Industry 4.0 adoption of automated guided vehicles is projected to improve warehouse safety.

• Lower labor costs in organizations encourage market growth.
RESTRAINTS • Industry 4.0 adoption of automated guided vehicles is projected to improve warehouse safety.

• Lower labor costs in organizations encourage market growth.

Frequently Asked Questions

Ans:- The market size is expected to reach USD 5.55 billion by 2028.

Ans:- Partnerships, product launches, product development, and other new competitive developments in AGVs are on the market.

Ans:- The laser guidance segment of the AGV market was the most lucrative and led the market in terms of revenue share, accounting for more than 35 percent.

Ans:- Yes.

Ans:- The European region is anticipated to be the primary driver of the market.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis


6. Porter’s 5 forces model


7.  PEST Analysis


8. Global Automated Guided Vehicle (AGV) Market Segmentation, by Type

8.1 Tow Vehicles

8.2 Assembly Line Vehicles

8.3 Pallet Trucks

8.4 Unit Load Carriers

8.5 Forklift Vehicles

8.6 Others

9. Global Automated Guided Vehicle (AGV) Market Segmentation, by Navigation technology

9.1 Laser Guidance

9.2 Inductive Guidance

9.3 Magnetic Guidance

9.4 Vision Guidance

9.5 Optical Tape Guidance

9.6 Others

10. Global Automated Guided Vehicle (AGV) Market Segmentation, by Industry

10.1 Automotive

10.2 Food & Beverages

10.3 Metals & Heavy Machinery

10.4 Semiconductors & Electronics

10.5 E-commerce

10.6 Chemicals

10.7 Healthcare

10.8 3PL

10.9 Aviation

10.10 Others

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 the USA

11.2.2  Canada

11.2.3  Mexico

11.3 Europe

11.3.1  Germany

11.3.2  the UK

11.3.3  France

11.3.4  Italy

11.3.5  Spain

11.3.6  The Netherlands

11.3.7  Rest of Europe

11.4 Asia-Pacific

11.4.1  Japan

11.4.2  South Korea

11.4.3  China

11.4.4  India

11.4.5  Australia

11.4.6  Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1  Israel

11.5.2  UAE

11.5.3  South Africa

11.5.4  Rest

11.6 Latin America

11.6.1  Brazil

11.6.2  Argentina

11.6.3  Rest of Latin America

12. Company Profiles


12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Swisslog Holding AG

12.3 Egemin Automation Inc.

12.4 Daifuku Co., Ltd

12.5 Dematic

12.6 JBT

12.7 Seegrid Corporation

12.8 Bastian Solutions

12.9 Hyster-Yale Materials Handling, Inc.

12.10 BALYO

12.11 E&K Automation GmbH

12.12 Kollmorgen

12.13 KMH Fleet Solutions

12.14 ELETTRIC80 S.P.A.

12.15 Fetch Robotics, Inc.

12.16 Locus Robotics

12.17 inVia Robotics

12.18 Schaefer Systems International, Inc.

12.19 System Logistics Spa

12.20 Transbotics.

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share analysis

13.3 Recent Developments

14. Conclusion

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Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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