Global Automated Guided Vehicle (AGV) Market to Reach USD 8.66 Billion by 2030, Outlines a New Report by Next Move Strategy Consulting
Increase in demand for material handling through automated solutions across manufacturing industries and surge in urbanization drive the global automated guided vehicle market growth.
New York, Aug. 10, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global automated guided vehicle (AGV) market generated USD 4.02 billion in 2021, and is estimated to reach USD 8.66 billion by 2030, witnessing a CAGR of 8.9% from 2022 to 2030. The report provides an expensive analysis of top segments and their sub-segments along with regional landscape. This analysis is useful in determining the performance of segments and regions to expand into.
The research also offers detailed analysis of changing market dynamics and key market players to assist leading players and startups in raising the automated guided vehicle market share. Equipping a comprehensive analysis of the market in 1313 pages along with 1119 tables and 1100 figures, the report becomes the helpful source of information for market players, investors, and stakeholders to gain a strong position and adopt necessary strategies.
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Report Coverage | Details |
Forecast Period | 2022–2030 |
Base Year | 2021 |
Market Size in 2021 | USD 4.02 Billion |
Market Size in 2030 | USD 8.66 Billion |
CAGR | 8.9% |
No. of Pages | 1313 |
Tables | 1119 |
Figures | 1100 |
Segments covered | Type, Navigation Technology, Payload Capacity, Battery Type, Mode Of Operation, Application, Industry Verticals, and Geography. |
Drivers | Increase in demand for material handling through automated solutions across manufacturing industries |
Rise in implementation of automation solutions in healthcare, automotive, e-commerce, and food industries | |
Opportunities | Adoption of Industry 4.0 technologies in warehousing to transform the facility into an automated facility |
Increase in industrial production |
The report offers an extensive analysis of changing market dynamics in terms of drivers, restraints, and opportunities of the global automated guided vehicle market. Increase in demand for material handling through automated solutions across manufacturing industries, rise in implementation of automation solutions in healthcare, automotive, e-commerce, and food industries, and surge in urbanization drive the growth of the market. However, high cost of initial investment and lack of skilled labor restrain the market growth.
Outlining the opportunities that create new pathways for expansion of the global automated guided vehicle market size in the coming years, the Lead Analyst for the Automotive & Transportation category at Next Move Strategy Consulting, stated, “The adoption of Industry 4.0 technologies in warehousing to transform the facility into an automated facility present new opportunities for the market players in the coming years. In addition, increase in industrial production present new avenues during the forecast period.”
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The report offers a detailed analysis of segments of the AGV market. Moreover, the report also analyzes sub-segments of each segment. The top segments analyzed in the research include type, navigation technology, payload capacity, battery type, mode of operation, application, industry verticals, and geography. On the basis of type, the report divides the market into tow vehicles, pallet trucks, unit load carriers, forklift vehicles, assembly line vehicles, and others. By navigation technology, the report further divides the market into laser guidance, inductive/wire guidance, magnetic guidance, vision guidance, optical tape guidance, and others.
Based on payload capacity, the report sub-segments the market into low (below 250 kg), medium (251kg to 1000 kg), and high (more than 1000 kg). By battery type, the research sub-divides the market into lead battery, nickel-based battery, lithium-ion battery, and others. Based on mode of operation, the research bifurcates the market into indoor and outdoor. Based on application, the report sub-segments the market into logistics and warehousing, assembly, raw material handling, packaging, trailer loading & unloading, and other applications. By industry verticals, the report further sub-segments the market into automotive, railways, metals & heavy machinery, chemicals, healthcare, semiconductors & electronics, e-commerce & logistics, aviation, food & beverages, and others.
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On the basis of geography, the research sub-segments the market into North America, Europe, Asia-Pacific, and RoW. According to the report, North America held the largest market share in 2021, and will maintain its dominant share during the forecast period. This is due to increase in expenditure in AGVs and technological innovation to optimize the product quality. However, Asia-Pacific is estimated to register a steady growth during the forecast period, owing to ease in availability of affordable automation services and increase production activities in the automobile sector.
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The report provides a detailed competitive landscape of the global automated guided vehicle market. Leading players analyzed in the research include AGILOX, AVT, ASTI, DS Automotion, Toyota Forklift, Seegrid Corporation, EK Robotics, Nipper, MIR, Rethink Robotics, OTTO Motors, Stanley Innovation, and Husarion. The report provides an extensive analysis of each player by highlighting business performance, top strategies, product portfolio, and others.
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