Automated Guided Vehicle Market worth 9.4% CAGR by 2030

Bengaluru, November– Globally, the COVID-19 pandemic caused economic unrest in nearly every industry. In an effort to stem the spread of the epidemic, governments around the world imposed nationwide lockdowns, which has resulted in losses for many organisations. The manufacturing sector’s earnings and revenue have drastically decreased as a result of the epidemic. Companies have seen a large reduction in personnel, which has led to a decline in manufacturing activity overall. Small and medium-sized businesses, or SMEs, have been particularly hard impacted by significant layoffs, financial troubles, and attrition. AGV deployment and industrial automation are critical components in helping firms maintain specific output levels in the midst of such unrest.

The global pandemic has created a lot of opportunity for the AGV market since it enables enterprises to keep up with production. For example, AEROTECH US. introduced the AGV-XPO galvo scanner in February 2022. This laser scan head aids in the very precise fabrication of intricate components used in medical technology. Moreover, it facilitates the fastest execution of aggressive pathways with fewer subsequent errors. In addition to WEWO, Techmotion supplies AGVs for the pharmaceutical and healthcare industries for the transportation of sterile supplies, meals, laundry and medical supplies. Moreover, regulated material validation, cleaning rooms, and flows employ these AGVs.

The Automated Guided Vehicle Market research report titled “Automated Guided Vehicle Market based on by Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks), Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance), Industry, Regional Outlook – Global Forecast up to 2030”

The global automated guided vehicle market size was valued at USD 4.28 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. Automated guided vehicle (AGV) systems assist in moving and transporting items in manufacturing facilities, warehouses, and distribution centers without any permanent conveying system or manual intervention. It follows configurable guide paths for optimizing storage, picking, and transport functions in the environment of premium space. AGVs are being highly adopted owing to several benefits, such as reduced labor costs, reduced product damage, increased productivity, and scale to support automation processes. These notable advantages encourage transportation and logistics firms to deploy AGVs to boost the efficiency of their operations.

For example, AUDI AG said in May 2021 that they employ AGVs in their manufacturing centres, which helps them plan the production process indirectly by identifying the components that need to be accessible even while they are out of stock. Additionally, it aids in the transportation of supplies trolleys, preserving their safety.

Material handling is changing as a result of partnerships and collaborations between digital giants and retailers and other logistics-related businesses. To improve patient care, for example, Swisslog Healthcare and OTSAW Digital Pte Ltd, an autonomous mobile robot solution, teamed together in November 2021 to develop automated guided vehicles for the healthcare industry. By deploying AGV in Asia Pacific, Europe, and MEA, this cooperation would also help them grow their business.
Additionally, Parmley Graham Ltd., AR Controls, and Siemens, a German industrial producer, joined forces in February 2022 to develop, create, and produce autonomous guided vehicles. Numerous benefits would result from the collaboration and the use of AGV, including lower labour expenses, a lower chance of workplace accidents, better logistics, and quicker delivery. In addition, organisations and companies focused on retail and commerce are implementing collaborative robots in their warehouses and growing their operations by acquiring large-scale cobot providers.

Numerous end-use industries, including manufacturing, logistics, food and beverage, automotive, and healthcare, employ automated guided vehicles. Industrial equipment is required primarily because of lower labour costs and higher production. The rising automation of industries is likely to drive up demand for AGVs. The ongoing demand for specialised material handling and transportation solutions for fuel economy is a result of growing industrialization.

For example, in February 2023, the worldwide provider of automated guided vehicles and autonomous mobile robots, DS AUTOMOTION GmbH, was purchased by The SSI Schaefer Group, a well-known provider of systems, parts, and software for warehouse automation. With this acquisition, SSI Schaefer hopes to increase its minority stake and remember the growing importance of autonomous vehicles (AVGs) and mobile robotics business in intralogistics.

Automated Guided Vehicle Market based on Type:

Tow Vehicles
Unit Load Carriers
Pallet Trucks
Assembly Line Vehicles
Forklift Vehicles
Others

Automated Guided Vehicle Market based on Navigation Technology:

Laser Guidance
Magnetic Guidance
Inductive Guidance
Optical Tape Guidance
Vision Guidance
Others

Automated Guided Vehicle Market based on Industry:

Automotive
Chemicals
Aviation
Semiconductor & Electronics
E-commerce
Food & Beverage
Healthcare
Metals & Heavy Machinery
3PL
Others

Automated Guided Vehicle Market based on Geography:

North America
o US
o Canada
Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe (RoE)
Asia Pacific (APAC)
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific (RoAPAC)
Latin America (LATAM)
o Brazil
o Argentina
o Rest of South America
Middle East and Africa (MEA)
o UAE
o Turkey
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa

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