Automated Guided Vehicle Global Market Is Expected To Grow At A Rate Of 11.9% Through 2023 – 2027
10 May, 2023
The global automated guided vehicle market size is expected to grow from $4.09 billion in 2022 to $4.64 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automated guided vehicle market size is expected to reach $7.28 billion in 2027 at a CAGR of 11.9%.
Global Automated Guided Vehicle Market Key Driver
The rising e-commerce and retail industries are expected to propel the automated guided vehicle market. The purchasing and selling of products and services through an electronic network, typically the internet, is known as e-commerce. The e-commerce sector is rising due to changes in consumer preference, increased convenience, and personalized experience. The use of an automated guided vehicle in e-commerce warehouses and retail hubs provides convenience in material handling, good packaging, and managing the supply chain ecosystem.
Get a Sample of the global automated guided vehicle market reportGlobal Automated Guided Vehicle Market Segments
The global automated guided vehicle market is segmented:
1) By Type: Two vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks
2) By Navigation Technology : Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation
3) By Application: Transportation, Distribution, Storage, Assembly, Packaging, Waste handling
4) By Industry: Automotive, manufacturing, Food and Beverage, Aerospace, Healthcare, Logistics, Retail
5) By Geography: The regions covered in the automated guided vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacifc accounts for the largest share in the global automated guided vehicle market.
Major Automated Guided Vehicle Industry Players
Balyo, Daifuku Co Ltd., E&K Automation GmbH, JBT Corporation, Kuka AG, Oceaneering International Inc., Seegrid Corporation, SSI schaefer, Toyota Material Handling, Kuka AG.
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Automated Guided Vehicle Market Overview
An automated guided vehicle (AGV) is a mechanized vehicle that delivers a load through an assembly, production, or storage facility. AGVs are guided by computerised vehicles, which employ software to identify their positioning, movement, and location. This involves delivering products directly to production lines and carrying materials from receiving to the warehouse.
Automated Guided Vehicle Global Market Report 2023 provides data on the global automated guided vehicle market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automated guided vehicle market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.