Automated Guided Vehicle Market To Reach $9.18 Billion By 2030

Automated Guided Vehicle Market Growth & Trends

The global automated guided vehicle market size is expected to reach USD 9.18 billion by 2030, registering a CAGR of 9.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. Automated guided vehicles (AGVs) have transformed the way materials can be moved within the manufacturing and distribution facilities. In a production environment where several operations are carried out simultaneously, these vehicles ensure a predictable and reliable transfer of raw materials and manufactured products from one point to another within the facility, thereby eliminating any potential disruption in production.

These vehicles can operate safely around structures, machinery, and employees, as they are equipped with accessories, such as camera vision and LiDAR sensors, which help detect junctions, identify floor signs, and avoid collisions with any obstacle. For instance, in November 2021, Quanergy Systems, Inc., a U.S.-based company that offers an AI-powered LiDAR platform, launched the new M1 Edge 2D LiDAR sensors for automation. The newly launched LiDAR sensor is light in weight, broad 360°, with a sensing capability of up to 200 meters used in mobile robotics, AGVs, warehouse logistics applications, and port automation.

Several manufacturing plants and warehouses deploy material handling equipment for various activities, such as locating stock, picking orders, and moving products and raw materials. Transportation and logistics firms are mainly focusing on deploying such equipment to boost the efficiency of their operations in line with the growing demand for their services. For instance, in March 2023, MasterMover Ltd, a prominent manufacturer of electric tug and tow solutions, announced a collaboration with BlueBotics, a navigation, robotics, and industrial automation company.

The partnership intends to offer best-in-class Autonomous Navigation Technology (ANT) technologies for MasterMover's range of AGVs. In February 2021, Scott (Transbotics Corporation), a prominent solution provider for AGVs, partnered with KUKA AG, a German manufacturer of robots, to coordinate the industrial robots of KUKA AG into material handling systems. Further, these robots would also benefit the warehouse team in assembling, packaging, welding, storing, and shipping. Also, material handling solutions are used to increase transportation efficiency, decrease physical damage to the material, and reduce overheads by limiting the number of employees.   

The AGV market is witnessing a progressive switch from lead-acid to lithium-ion batteries. Lithium-ion batteries offer several advantages over lead-acid batteries. They tend to be lighter and more compact. They can charge faster, provide longer runtimes, and support more charge cycles. Hence, they are ideal for AGVs, as they need not be charged frequently during operating shifts or in 24x7 operating environments, and AGVs running on lithium-ion batteries can offer higher round-trip efficiencies. For instance, in March 2021, Nissan Motor Co., Ltd, a global manufacturer of automobiles, buses, and trucks, stated that they use lithium-ion batteries to power their automated guided vehicles, which no longer need a worker to remove the battery and plug them in it charges faster. These batteries let AGVs last longer and bring significant innovations to their warehouse.

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Automated Guided Vehicle Market Report Highlights

• The tow vehicle segment led the Automated Guided Vehicle (AGV) industry in 2024, accounting for over 38.0% share of the global revenue.

• The laser guidance segment led the AGV market in 2024. The high growth is attributed to the increasing demand for precise navigation solutions that ensure operational efficiency and safety in industrial environments.

• The logistics and warehousing segment led the market in 2024. The increasing need to streamline and optimize material handling processes within warehouses and distribution centers is propelling the demand for this segment.

• The lead battery segment accounted for the largest market revenue share in 2024. The growth can be attributed to the widespread adoption of AGVs in cost-sensitive industries, where the affordability and reliability of lead-acid batteries align with operational and budgetary priorities.

• The indoor segment accounted for the largest market revenue share in 2024. The growth can be attributed to the increasing focus on automation in controlled environments, where precision and efficiency are paramount for streamlining operations.

Automated Guided Vehicle Market Segmentation

Grand View Research has segmented the global automated guided vehicle market on the basis of vehicle type, navigation technology, application, industry, component, battery type, mode of operation, and region:

Automated Guided Vehicle Vehicle Type Outlook (Revenue, USD Million, 2017 - 2030)

• Tow Vehicle

• Unit Load Carrier

• Pallet Truck

• Forklift Truck

• Hybrid Vehicles

• Others

Automated Guided Vehicle Navigation Technology Outlook (Revenue, USD Million, 2017 - 2030)

• Laser Guidance

• Magnetic Guidance

• Vision Guidance

• Inductive Guidance

• Natural Navigation

• Others

Automated Guided Vehicle Application Outlook (Revenue, USD Million, 2017 - 2030)

• Logistics and Warehousing

  • Transportation

  • Cold Storage

  • Wholesale & Distribution

  • Cross-Docking

• Assembly

• Packaging

• Trailer Loading and Unloading

• Raw Material Handling

• Others

Automated Guided Vehicle Industry Outlook (Revenue, USD Million, 2017 - 2030)

• Manufacturing Sector

  • Automotive

  • Aerospace

  • Electronics

  • Chemical

  • Pharmaceuticals

  • Plastics

  • Defense

  • FMCG

  • Tissue

  • Others

• Wholesale and Distribution Sector

  • E-commerce

  • Retail Chains/Conveyance Stores

  • Grocery Stores

  • Hotels and Restaurants

Automated Guided Vehicle Component Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware

• Software

• Services

Automated Guided Vehicle Battery Type Outlook (Revenue, USD Million, 2017 - 2030)

• Lead Battery

• Lithium-Ion Battery

• Nickel-based Battery

• Others

Automated Guided Vehicle Mode of Operation Outlook (Revenue, USD Million, 2017 - 2030)

• Indoor

• Outdoor

Automated Guided Vehicle Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

• MEA

  • UAE

  • South Africa

  • KSA

List of Key Players of Automated Guided Vehicle Market

• Swisslog Holding AG

• KION GROUP AG

• Bastian Solutions, LLC

• 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.

• inVia Robotics, Inc.

• Locus Robotics

• Schaefer Systems International, Inc.

• System Logistics Spa

• Transbotics (A division of Scott Systems International Incorporated)

• Zebra Technologies Corp.