New Tools and Technology Development will drive Automated Guided Vehicle Market in coming years

 

Automated Guided Vehicle Industry Overview

The global automated guided vehicle market size was estimated at USD 4.79 billion in 2023 and is expected to grow at a CAGR of 9.4% from 2024 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.

Gather more insights about the market drivers, restrains and growth of the Automated Guided Vehicle Market

For instance, in May 2021, AUDI AG stated that they use AGVs in their manufacturing centers, which helps them indirectly plan the production process to know which component is out of stock and needs to be available. Further, it also helps in carrying items supply trolleys which helps them maintain safety.

Retailing and other logistics-related companies are collaborating and partnering with tech giants to transform the material handling industry. For instance, in November 2021, OTSAW Digital Pte Ltd, an autonomous mobile robot solution, partnered with Swisslog Healthcare to develop automated guided vehicles for the healthcare sector to enable better patient care. Further, this partnership would expand their business by deploying AGV in Asia Pacific, Europe, and MEA.

Besides, in February 2022, Siemens, a Germany-based industrial manufacturer, partnered with Parmley Graham Ltd. and AR Controls to build, design, and manufacture automated guided vehicles. The partnership and the launch of AGV would bring a lot of advantages, such as low labor costs, reduced risk of workplace injury, logistics management, and faster delivery. Furthermore, retail and commerce-based companies and businesses are deploying collaborative robots in their warehouses and expanding their businesses through acquisitions of large-scale cobot providers.

For instance, in February 2022, SAVE MART SUPERMARKETS, a grocery store company, partnered with Starship Technologies, a provider of autonomous delivery vehicles. The initiative aims to deliver groceries using the Starship robot, a combination of artificial intelligence and machine learning. With the installation of the starship robot, SAVE MART SUPERMARKETS expanded its delivery area. Besides, in January 2023, Barcoding, Inc., a prominent player in supply chain efficiency, connectivity, and accuracy, announced the acquisition of FRED AGV, an automated guided vehicle manufacturer. The acquisition illustrates continuous investment and expansion in industrial automation for Barcoding, Inc.

Automated guided vehicles are used in various end-use industries, such as logistics, automotive, healthcare, manufacturing, food & beverages, and others. Increased productivity and reduced labor costs are the key factors driving the need for industrial equipment. The demand for AGVs is expected to grow owing to the increasing automation in industries. Increasing industrialization has led to the continuous need for customized material handling and transport solutions for fuel efficiency.

For instance, in February 2023, The SSI Schaefer Group, a prominent supplier of systems, components, and software for warehouse automation, acquired DS AUTOMOTION GmbH, a global supplier of automated guided vehicles and autonomous mobile robotics. The acquisition intends to expand the minority interest of SSI Schaefer to reminisce the growing significance of AGV and autonomous and mobile robotics business in intralogistics.

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Key Automated Guided Vehicle Company Insights

Key automated guided vehicle companies include Swisslog Holding AG; Daifuku Co., Ltd.; JBT; Seegrid Corporation; TOYOTA INDUSTRIES CORPORATION; Hyster-Yale Materials Handling, Inc.; and Kollmorgen. Increasing collaborations and mergers & acquisitions are expected to maximize the environmental and economic benefits for the market players by enabling them to share ideas and enhance their internal skills and technologies. For instance, in March 2022, Seegrid Corporation, an autonomous mobile robot provider, partnered with ROBEX. This initiative towards partnership would allow Seegrid Corporation to expand its business, and clients of ROBEX would also be introduced to Seegrid Corporation products. Further, this would help grow the demand for automation in supply chain management. It would also make it easier to supply clients and partners with complete end-to-end warehouse management solutions.

Key Automated Guided Vehicle Companies:

The following are the leading companies in the automated guided vehicle market. These companies collectively hold the largest market share and dictate industry trends.

·         Swisslog Holding AG

·         Egemin Automation Inc.

·         Bastian Solutions, Inc.

·         Daifuku Co., Ltd.

·         Dematic

·         JBT

·         Seegrid Corporation

·         TOYOTA INDUSTRIES CORPORATION

·         Hyster-Yale Materials Handling, Inc.

·         BALYO

·         E&K Automation GmbH

·         Kollmorgen

·         KMH Fleet Solutions

·         ELETTRIC80 S.P.A.

·         Fetch Robotics, Inc.

·         inVia Robotics, Inc.

·         Locus Robotics

·         Schaefer Systems International, Inc.

·         System Logistics Spa

·         Transbotics (A division of Scott Systems International Incorporated)

Recent Developments

In November 2023, Movella, Inc., an American sensor technology provider, collaborated with Taiwanese industrial IoT-provided Advantech to develop advanced automated guided vehicles and autonomous mobile robot systems. By developing these systems, the companies aim to simplify material deployment for their customers, thereby minimizing solution compatibility issues and expediting time to market.

In October 2023, Align Production Systems, an American material handling solution provided collaborated with Kollmorgen, a vehicle control solution provider, to develop and offer efficient and reliable automated guided vehicle systems designed by Align Production Systems and comprising of Kollmorgen’s NDC solutions. This partnership aims to revolutionize the manufacturing sector by enabling manufacturers to move large and heavy products across their facilities.

In March 2023, Mitsubishi Logisnext Americas group announced the launch of their new AGV product, Jungheinrich EKX 516ka / 516a Automated High-Rack Stacker, initially planned to deploy for their U.S.-based customers. With very narrow aisle operations and greater storage density, this product allows users to gain maximum efficiency and productivity in their business operations.

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