Automated Guided Vehicle (AGV) Market Share, Size, Trends, Industry Analysis Report
By Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Pallet Trucks, Assembly Line Vehicles and Others); By Navigation Technology; By Battery Type; By Application; By Industry; By Regions; Segment Forecast, 2025 – 2034
- Published Date:Nov-2025
- Pages: 117
- Format: PDF
- Report ID: PM1034
- Base Year: 2024
- Historical Data: 2020-2023
What is the Current Market Size?
The global automated guided vehicle (AGV) market was valued at USD 6.34 Billion in 2024 and is expected to grow at a CAGR of 10.31% in the forecast period. Key factors driving the market includes increasing demand for automation and material handling equipment in various process industries, manufacturers providing intelligent AGV, the burgeoning popularity of e-commerce, and the increasing demand for automation in material handling across various industries.
Key Insights
- The unit load carrier segment is expected to hold the largest share during the forecast period. This is due to their design for unit-load transport of large containers, pallets, and rolls.
- The laser guidance segment dominated the AGV market due to demand for intelligent, effective routing, which has driven increased acceptance of automated vehicles.
- The Asia Pacific region is expected to post the fastest CAGR during the forecast period, driven by e-commerce growth.
- North America held the largest market share in the automated guided vehicle market in 2024, driven by increased import and export operations.
Industry Dynamics
- The increasing demand for automation and material-handling equipment across various process industries is driving market expansion.
- Manufacturers providing intelligent AGVs are driving the market growth.
- The high initial investment and increasing integration complexity create challenges for expansion.
- Rising expansion into new and dynamic e-commerce logistics creates opportunities to grow.
Market Statistics
- 2024 Market Size: USD 6.34 billion
- 2034 Projected Market Size: USD 16.86 billion
- CAGR (2025-2034): 10.31%
- North America: Largest market in 2024
AI Impact on the Industry
- Enables dynamic real-time path planning and obstacle avoidance.
- Facilitates predictive maintenance to minimize vehicle downtime.
- Optimizes complex fleet management and task allocation automatically.
- Enhances vision and object recognition for improved operational safety.
What Does the Current Landscape Look for the Automated Guided Vehicles?
Automated guided vehicles are substance managing techniques or load bearers that proceed by oneself all through a warehouse, distribution center, or produce potential without a consigned operator or driver. The automated guided vehicle (AGV) market sales are soaring as they are utilized for chores that would normally be managed by forklifts, conveyor technologies, or laboring carts operating extensive magnitude of substances in a tedious manner. They are frequently utilized for conveying raw materials such as plastic, metal, paper, or rubber. For instance, AGVs can fetch raw materials from accepting to the warehouse or distribute substances instantly to production lines. As AGVs function by themselves, they escalate productivity and efficacy, and they are probable and dependable for tedious tasks. AGVs abolish non-essential walking and also abolish physical labor of conveying substances. They establish tempo for workers as well as maintain workmates on tasks. AGVs such as collective mobile robot guide identifies with each task decreasing human fallacy, which assists in enhancing order collecting preciseness and lessening loss and missing commodities. By exploiting AI to maximize direction and classify work, collective mobile robots enhance resource usage. Autonomous guided vehicles, automated or self-guided, are driverless vehicles employed for material handling or as load carriers in warehouses, manufacturing facilities, or distribution centers. AGVs find applications in transporting raw materials or finished goods, work in progress, or lifting and handling products.
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The market for AGVs is bolstered by the burgeoning popularity of e-commerce and the increasing demand for automation in material handling across various industries. Other factors driving the market include technological advancements in AGVs, safety concerns in factories and warehouses, and the versatility of AGVs in handling material transportation and assembly tasks.
AGVs can navigate through a facility or warehouse and transport materials from one location to another. AGVs find widespread use in manufacturing facilities, warehouses, and distribution centers to move materials and products. Additionally, AGVs can be used in healthcare facilities and airports to transport patients or luggage. The increasing demand for automation in diverse industries and manufacturing facilities serves as a primary driver for the growth of the automated guided vehicle (AGV) market. AGVs in these settings reduce human effort and increase worker safety. However, the period required to achieve a return on investment (ROI) can be lengthy, making AGVs unsuitable for short-term applications. Furthermore, high maintenance costs and initial investments pose significant challenges to the automated guided vehicle market.
Automated guided vehicles find application in several end-use industries such as logistics, automotive, healthcare, manufacturing, food, and beverages. The need for industrial equipment is driven by increased productivity and reduced labor costs. The demand for AGVs is predicted to increase in response to the growing trend of automation in industries. The persistent need for custom material handling and transport solutions to boost efficiency is driven by rising industrialization. In November 2021, JBT, a technology solutions provider in the food and beverage sector, acquired Urtasun Technologia Alimentaria, which specializes in providing solutions for fruit and vegetable processing. The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces Automated Guided Vehicle (AGV) Market key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry. However, the market is expected to experience significant growth in the future due to increased demand for contactless and efficient logistics infrastructure. Additionally, the rising demand for automation in various industries and the need for increased safety, accuracy, and productivity are contributing to the growth of the automated guided vehicle market.
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Industry Dynamics
What are the Driving Factors of AGV Market?
The organisation aims to gain an advantage in operational efficiency and lower costs. This is due to the need for automation in the process industries is driving market growth. The movement of raw materials, components, and finished goods is necessary to maintain continuous production flow as process industries include food and beverage, manufacturing, and chemicals, among others. AGVs serve as automation in internal logistics, which reduces manual handling of materials and resulting labour costs and further reduces the chances of human error. Moreover, the implementation of AGVs is expected to lead to an organisation adopting lean manufacturing principles and just-in-time production, as the reliable and timely delivery of raw materials or components is improved. The transition to automated material handling is crucial for improving productivity, and ensuring competitiveness in a dynamic industrial environment.
The broader applicability and value proposition stem from the shift from simple automated guided vehicles to intelligent AGVs. The ability to make real-time decisions and plan dynamic routes is enabled by modern intelligent AGVs, which utilize advanced sensors, machine learning algorithms, and digital software. This intelligence allows modern intelligent AGVs to co-operate safely with human workers in highly complex and dynamic environments. Moreover, manufacturers are providing smart solutions that are easily integrated into more general Industrial Internet of Things (IIOT) platform solutions and Warehouse Management Systems (WMS). This connection allows for unbelievable data capabilities around Predictive analytics, fleet management, and operational performance improvements, changing AGVs from simple transport units to major contributors to an interconnected Smart Factory ecosystem.
Report Segmentation
The market is primarily segmented based on type, battery type, navigation technology, application, industry, and region
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By Type |
By Battery Type |
By Navigation Technology |
By Application |
By Industry |
By Region |
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Segment Insights
Which Segment by Type is expected to witness the highest growth?
The unit load carrier segment is anticipated to experience the highest share during the forecast period. AGVs designed for unit loads transport large containers, pallets, and rolls and offer the advantage of efficient task scheduling by reducing aisle traffic and minimizing product damage. For example, in September 2021, Addverb Technologies Private Limited, a company specializing in robotics and automation, announced its expansion into the Australian, European, and Singaporean markets in response to the increasing demand for unit load AGVs and automation solutions in the global market.
Why Laser Guidence Dominated the Market in 2024?
In 2024, the laser guidance segment dominated the AGV market, with the largest revenue share growth forecasted for the future. This is due to the demand for intelligent and effective routing, driving the rising acceptance of automated vehicles. Using computer vision and advanced software solutions has improved AGV's ability to analyze their environment in real time, making them more attractive for operations in challenging environments, such as navigating narrow aisles or transporting large components. For example, in April 2021, Toyota Industries Firm launched "T-Hive," an autonomous vehicle software corporation that provides solutions for all its vehicles. This unified solution promises to enhance the storage, transportation, and distribution of goods for customers using logistics facilities worldwide.
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What are the Regional Factors Contributing to the Global Growth?
The Asia Pacific region is anticipated to exhibit the fastest CAGR over the forecast period. This can be attributed to the significant growth of the e-commerce industry in emerging economies such as China and India. In October 2021, Shenzhen Casun Intelligent Robot Co., Ltd., a manufacturer of automation machinery, launched the CASUN Intelligent Robot "Little Giant," which is equipped with self-deployed intelligent control to perform loading and unloading tasks in various industries, enabling AGVs to operate inside and outside of warehouses. The growth of the e-commerce industry in the region is prompting several e-commerce companies to explore opportunities in these markets.
North America held the largest market share in the automated guided vehicle market in 2024. This growth is attributed to the increase in import and export operations. Warehouse operators are adopting automation technology to achieve maximum productivity and optimize warehouse operations. To meet the increasing demands of clients, companies operating in the region are introducing new products with advanced technology. With the help of automated guided vehicles, pallets can be loaded and unloaded automatically.
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Competitive Insight
Some of the prominent key players operating in the automated guided vehicle (AGV) market space include Egemin Automation Inc., Swisslog Holding AG, Daifuku Co., Ltd., Bastian Solutions, Inc., JBT, Dematic, TOYOTA INDUSTRIES CORPORATION, Seegrid Corporation, BALYO, Hyster-Yale Materials Handling, Inc., Kollmorgen, E&K Automation GmbH, ELETTRIC80 S.P.A., KMH Fleet Solutions, inVia Robotics, Inc., Fetch Robotics, Inc., Schaefer Systems International, Inc., Locus Robotics, Transbotics, System Logistics Spa.
Recent Developments
- In July 2024, Bastian Solutions, LLC inaugurated its new manufacturing and corporate campus in Noblesville, Indiana. Strategically selected for its location, the campus will serve as the company's primary center for manufacturing operations and corporate functions, streamlining activities previously spread across multiple sites into one unified facility.
- In March 2024, Locus Robotics launched LocusHub, a business intelligence engine integrated within the LocusOne platform. Powered by advanced analytics, artificial intelligence (AI), and machine learning (ML), LocusHub delivers predictive and prescriptive insights designed to boost warehouse efficiency, lower operational costs, and unlock deeper levels of operational intelligence.
- In March 2024, Kollmorgen, a global leader in motion control systems, expanded AKD2G versatility with the launch of new communication protocols. With the introduction of these new features, the firm has expanded its offerings to additionally support new synchronized communication protocols. Each of Kollmorgen’s new communication protocols undergoes rigorous testing in a variety of motion controllers.
- In January 2024, the Daifuki Group, one of the leading players in the automated guided vehicle market, experienced a significant transformation as it underwent a comprehensive renaming process. The new initiative was aimed at firmly establishing the group’s name across all regions and countries of operation.
- In October 2020, Box Robotics, a startup specializing in mobile robotics, including three-dimensional LiDAR, high-definition maps, and deep learning, was acquired by Seegrid Corporation. This strategic move aims to improve situational awareness for Seegrid's AGVs in distribution, manufacturing, and e-commerce facilities.
- In March 2022, Covariant, a significant worldwide AI robotics business, and KNAPP, a technology partner for intelligent value chains, expanded their partnership to develop AI-powered robot solutions further and increase their market presence. KNAPP's picking robot, the Pick-it-Easy Robot, has been at the core of their efforts throughout their collaboration with Covariant on several projects thus far. The robot has proven useful in increasing warehouse productivity in various businesses to its versatility and capacity for handling multiple objects.
- In February 2021, SafeLog introduced warehouse robots (AGV L1), which can carry loads weighing 1500 kg to 3000 kg and operate singly or in swarms. The robot has agent-based control, which enables users to forego investing in a more sophisticated central control station. Also, the autonomous guided vehicle is being used in intralogistics and production.
Automated Guided Vehicle Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 6.34 billion |
| Market size value in 2025 | USD 6.97 billion |
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Revenue forecast in 2034 |
USD 16.86 billion |
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CAGR |
10.31% from 2025 - 2034 |
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Base year |
2024 |
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Historical data |
2020 - 2023 |
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Forecast period |
2025 - 2034 |
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Quantitative units |
Revenue in USD billion and CAGR from 2025 to 2034 |
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Segments covered |
By Type, By Battery Type, By Navigation Technology, By Application, By Industry, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
Egemin Automation Inc., Swisslog Holding AG, Daifuku Co., Ltd., Bastian Solutions, Inc., JBT, Dematic, TOYOTA INDUSTRIES CORPORATION, Seegrid Corporation, BALYO, Hyster-Yale Materials Handling, Inc., Kollmorgen, E&K Automation GmbH, ELETTRIC80 S.P.A., KMH Fleet Solutions, inVia Robotics, Inc., Fetch Robotics, Inc., Schaefer Systems International, Inc., Locus Robotics, Transbotics, System Logistics Spa. |
The Automated Guided Vehicle (AGV) Market report details key market dynamics to help industry players align their business strategies with current and future trends. It examines technological advances and breakthroughs in the industry and their impact on the market presence. Furthermore, a detailed regional analysis of the industry at the local, national, and global levels has been provided.
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FAQ's
The automated guided vehicle (AGV) market report covering key segments are type, battery type, navigation technology, application, industry, and region.
Automated Guided Vehicle (AGV) Market Size Worth USD 16.86 Billion By 2034.
The global automated guided vehicle (AGV) market expected to grow at a CAGR of 10.31% in the forecast period.
North America is leading the global market.
key driving factors in automated guided vehicle (AGV) market are increasing demand for automation and material handling equipment in various process industries.
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