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Automated Guided Vehicle (AGV) Market Size, Share & Industry Analysis, By Type (Unit Load Carrier, Forklift Truck, Mobile Robots and Others), By Navigation Technology (Laser Guided, Magnetic Guided, Vision Guided and Others), By Application (Transportation & Distribution, Storage & Assembly, Packaging), By Industry (Automotive, Food & Beverage, E-Commerce and Others) and Regional Forecast, 2019-2026

Region : Global | Published Date: Jan, 2020 | Report ID: FBI101966| Status : Published

 

KEY INDUSTRY INSIGHTS

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AGVs are material handling automated machines which are programmed to move pallets, carts, trays, etc. between different manufacturing and warehousing facilities. An AGV is controlled by one or more computers and are wheel-based load carriers which are used in warehouses or plants without a driver or operator. They are used for industrial applications such as moving materials from one place to another in a manufacturing facility or warehouse or storage facility.


Automated guided vehicles are used to increase efficiency and decrease damage to goods and materials and reduce operational costs by limiting the number of employees required for completing the job. Moreover, these are better replacement options to lift trucks, which are operated manually. This enables the company to use the manpower in areas where they can provide more value addition to the product.


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AGVs follow a pre-decided path which are marked, wired on the floor or use lasers, vision or magnets to move along the facility. These vehicles provide many functions aiding in increasing overall efficiency of the industry. Some of the functions include repetitive transportation, multi-shift or 24x7 operations, and low & medium throughput, among various other benefits.


MARKET DRIVERS


“Increasing Automation in Material Handling Process across Industries to Favor Growth”


Increasing automation in the material handling process has enabled the industries to have connected factories, resulting in the adoption of automated material handling processes. Thus, it aids them to have flexible manufacturing processes, improved quality control, enhanced labor management, etc. Besides, increasing business of the e-commerce industry across the globe is also aiding for increased automated material handling process. Companies such as Amazon, Walmart, Alibaba, etc. are focusing on automation of material handling process in order to reduce the operation cost and increase the inventory size. Additionally, this also helps them to improve workplace safety. According to our secondary research, only 25% of the facilities have automated material handling system. Hence, automated material handling has a huge scope and is expected to boost the automated guided vehicle market growth.


SEGMENTATION


By Type Analysis


“Unit Load Carrier is Projected to Grow at a Higher Rate During the Forecast Period”


Based on type, the market is classified into unit load carrier, forklift truck, mobile robots, and others.


Unit load carrier segment is estimated to grow at a higher pace in the near future owing to increasing need to carry slipsheets, pallets, and cartons or subassemblies in varied applications. Unit load carriers are equipped with a deck for transporting individual unit load. This deck is integrated with roller conveyor for automatic transferring of load in warehousing and distribution systems. The demand for unit load carriers is gradually increasing in the e-commerce industry for storage, transportation, and distribution operations.


Forklift truck segment is projected to have remarkable growth owing to their automated flexible operating unit. These trucks are generally used for pick-and-drop palletized loads on the conveyors from different heights. Also, such trucks require more intricate path layout and accurate positioning of loads, hence increasing the AGV market demand.


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Mobile robots segment is anticipated to have significant AGV market share. It is integrated with intelligent navigated technology, sensors, and camera systems, enabling the mobile robots to detect and navigate the surrounding obstacles by performing complex operations, thus replacing the manual systems. Other types of automated guided vehicles, including tuggers, automated guided carts, custom AGVs, and many more, are estimated to have steady market growth owing to the cumulative demand for AGVs in several industries.


By Navigation Technology Analysis 


 “Laser Automated Guided Vehicle (AGV) to Hold the Largest Market Share”


Based on navigation technology, the market is segmented into laser guided, magnetic guided, vision guided, and others (wire guided, etc.). Here, the laser AGV sub-segment holds the largest automated guided vehicle market share.


Laser AGV sub-segment is witnessing growth in material handling industry worldwide as it acts as an electronic eye to skip the obstacles within the path. On-board laser reflects the target above the floor, column, and walls about 25 feet apart, and so, it can carry out the required operation. The combination of flexibility and accuracy makes laser automated guided vehicles systems popular as they pose challenges in the environment with obstacles and perform the operations.


Magnetic AGV segment is gaining popularity and surging the AGV market growth in the transportation and distribution sector. Magnetic systems allow operators to change their paths by just pulling up the magnetic tape and reapplying it. This technique is mostly useful for light AGVs, reducing the expense involved in restructuring the warehouse.


Vision guided vehicles (VGVs) segment is anticipated to have significant growth in several sectors owing to flexible structure of these systems. VGVs use optic sensors or cameras for navigating the obstacles occurring in the path that builds a 3D map of the operating environment. Therefore, this segment is expected to become a key factor in the automated guided vehicle market growth.


The others segment consists of wire guided and other types of automated guided vehicle that are likely to have moderate growth. Companies are deploying wire guided AGVs as it is the simplest navigation type that transmits the signal through wire and detects it via sensors or antenna.


By Application Analysis 


 “Automated Transportation & Distribution Process to Boost the Market”


Based on application, the automated guided vehicle market is categorized into transportation and distribution, storage and assembly and packaging. Transportation and distribution sub-segment is projected to exhibit robust growth rate during the forecast period owing to its adoption in different types of industries.


AGVs have wide variety of applications for movement of goods & products from one place to another at an industry or facility. This includes movement of containers, carts, pallets, racks, and rolls. Transportation and distribution process is used by various industries to move goods & materials such as paper, plastic, metal, rubber, steel, etc. Storage and assembly includes process such as pallet handling, work-in-progress products movement in various industries such as automotive, food & beverage, packaging, etc. AGVs have unique demands in the packaging environment such as movement of empty bottles, containers, pallets, and transporting goods from end of the production line to storage and many more.


By Industry Analysis


 “Increasing Material Handling Process from E-commerce Industry to Accelerate AGV Market Revenue”


Based on industry, the automated guided vehicles market is categorized into automotive, food & beverage, E-commerce, and others. E-commerce sub-segment is estimated to exhibit robust growth owing to increasing business of major e-commerce players such as Amazon, Alibaba, etc.


AGVs have prominent presence in the industries where there is bulk movement of materials such as automotive, food & beverage, among others. AGVs can be utilized in wide-ranging processes, from bringing raw material to the production unit to moving finished products at storage facility. These have unlocked huge scope for the manufacturers as now they can utilize human resource at places which require more sophisticated skills.


Automated guided vehicles have taken over monotonous jobs such as continues movement of materials from one place to another, or storage of finished goods. In the automotive industry, AGVs are used for transporting tools, vehicles, engine, chassis, etc. These require 3 steps which are pickup, transport, and drop. Besides, in food & beverage and e-commerce industries, AGVs aid in integration of material handling system, ERP system, high- rack storage system, and warehouse management. Furthermore, goods in these industries are labelled with barcodes and RFIDs, which makes it easier for the AGVs to recognize the product and move them at the required destination.


REGIONAL ANALYSIS


The automated guided vehicle market is segmented across North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.


Asia-Pacific is estimated to hold the highest growth rate owing to the rapidly developing e-commerce industry in several countries including China, India, and Japan, which is driving the automated guided vehicle (AGV) market. AGVs are extremely efficient and versatile systems used in warehouses or distribution centers for multiple applications, such as loading and unloading packages. Governments of several countries in Asia-Pacific are taking various initiatives to support the development of regional manufacturing industry, providing lucrative opportunities for market expansion. For instance, the Indian government announced the launch of ‘Make in India’ campaign to enhance the local production and increase export. AGVs are increasingly being used in several industries for the transportation of raw materials such as paper, steel, and plastic.


North America is projected to show dynamic growth in automated guided vehicle market. Increasing number of import and export activities is driving the AGV market growth in North America. Warehouse owners are increasingly adopting automation technologies to optimize the warehouse operations and gain maximum efficiency. Companies operating in the region are introducing new products with advanced technologies to cater the increasing customer demands. For instance, in September 2018, Seegrid Corporation introduced self-driving vision guided vehicle for material handling operations for transportation, e-commerce, and distribution companies. The equipment has the ability to load and unload pallets automatically.


Asia Pacific Automated Guided Vehicle (AGV) Market Size, 2018 (USD Billion)

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Increasing adoption of Industry 4.0 technologies will propel the AGVs market position in Europe. Manufacturers in the region are making large investments in automation technologies to increase their efficiency and productivity. AGVs are used for repetitive movement of materials throughout the manufacturing process. The machine is also used in moving finished products from manufacturing to storage or shipping facility before they are delivered to customers. These movements require proper material handling as the products are complete and are subject to damage due to rough handling. This will support the adoption of AGVs in Europe over the forecast timeline.


The rapidly developing E-commerce industry in Latin American countries, including Brazil and Mexico, will support the adoption of AGVs over the forecast timeline. Increasing urbanization coupled with the emergence of e-commerce in Brazil will boost the demand for AGVs.


Moreover, increasing focus of manufacturers on automation is propelling the market growth in the Middle East and African countries.


INDUSTRY KEY PLAYERS 


“Prominent Players Offering Novel Solutions to Intensify Competition”


Leading players such as Toyota Advanced Logistics, Daifuku Co., Ltd., Dematic, The Raymond Corporation, and HIT Robot Group have a dominant position, holding approximately 50-60% of the overall automated guided vehicles market share. These manufacturers are focusing on setting up their plants in emerging economies in order to maintain their market share. These economies are proving to be cost-effective and yield high output for the companies as they have an abundance of resources coupled with government initiatives to boost the manufacturing sector. Moreover, these players are investing in R&D in order to integrate latest technologies to improve the performance. For instance, in October 2019, HRG (HIT Robot Group) launched its new AGVs which integrates “simultaneous localization and mapping”, or SLAM, to move on the floors of industries or facilities.


List of Key Companies Profiled:



REPORT COVERAGE


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The automated guided vehicle market report offers an elaborative analysis of numerous factors affecting the global automated guided vehicle (AGV) market. These include opportunities, growth drivers, threats, key developments, and restraints. In addition to this, it further helps in analysing, segmenting, and defining the market based on different segments such as type, navigation technology, application and industry. It strategically analyses several strategies such as product innovations, mergers, alliances, joint ventures, and acquisitions adopted by players in the industry.


Report Scope & Segmentation














































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Type



  • Unit Load Carrier

  • Forklift Truck

  • Mobile Robots

  • Other (Tuggers, etc.)



By Navigation Technology



  • Laser Guided

  • Magnetic Guided

  • Vision Guided

  • Others (Wire Guided, etc.)



By Application



  • Transportation & Distribution

  • Storage & Assembly

  • Packaging



By Industry



  • Automotive

  • Food & Beverage

  • E-commerce

  • Others (Healthcare, etc.)



By Region



  • North America (the U.S. and Canada)

  • Europe (U.K., Germany, France, Italy and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Southeast Asia, and Rest of Asia-Pacific)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

  • Latin America (Brazil, Mexico, and Rest of Latin America)



INDUSTRY DEVELOPMENT:



  • April 2019: Daifuku Co., Ltd. acquired India-based material handling equipment manufacturer, Vega Conveyors and Automation. This strategic development focuses on entire FA&DA manufacturing facility at Vega’s present manufacturing facility in Telangana.

  • April 2019: Brose Fahrzeugteile GmbH & Co. KG, an automotive parts supplier, announced its investment in installing AGVs at its Coventry factory. This investment eliminates human error along with speeding up the movement of the finished goods.



 


Frequently Asked Questions

Fortune Business Insights says that the automated guided vehicles (AGV) market was valued at USD 1.53 billion in 2018

In 2026, the automated guided vehicles (AGV) are expected to be valued at USD 3.14 billion.

Growth of 9.5% CAGR is been observed in the automated guided vehicles (AGV) in the forecast period (2019-2026).

Asia-Pacific market size was at USD 0.37 billion in 2018 and is anticipated to be the dominant region for the global automated guided vehicles (AGV) market.

Within the automated guided vehicles (AGV) market, Unit Load Carrier is expected to be the leading segment during the forecast period.

Increasing automation in material handling process across the industries is surging the current automated guided vehicles (AGV) market scenario.

Toyota Advanced Logistics, Daifuku Co., Ltd., Dematic, The Raymond Corporation and HIT Robot Group are the top players in automated guided vehicles (AGV) market.

The transportation & distribution segment is expected to hold the highest share for the automated guided vehicles (AGV) market owing to its adoption in different types of industries.

Laser AGV segment is expected to grow significantly at the highest CAGR owing to higher efficiency.

The major players in the automated guided vehicles (AGV) market hold approximately 56% of the market owing to their brand name and investments in R&D to integrate latest technologies.

Automated Guided Vehicle (AGV) Market Size, Share and Global Industry Trend Forecast till 2026
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