img

Global Logistics Industry AGV Market Size By Type of AGV, By Application, By Industry Vertical, By Geographic Scope And Forecast


Published on: 2024-08-04 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

Global Logistics Industry AGV Market Size By Type of AGV, By Application, By Industry Vertical, By Geographic Scope And Forecast

Logistics Industry AGV Market Size And Forecast

Logistics Industry AGV Market size was valued at USD 4.57 Billion in 2023 and is projected to reach USD 10.56 Billion by 2030, growing at a CAGR of 12.9% during the forecast period 2024-2030.

Global Logistics Industry AGV Market Drivers

The market drivers for the Logistics Industry AGV Market can be influenced by various factors. These may include

  • Trends in Industry 4.0 and Automation One important factor is the growing use of automation and Industry 4.0 techniques in warehousing and logistics operations. AGVs are essential for automating material handling procedures, increasing productivity, and cutting labor expenses.
  • Increasing Labor Costs Businesses are using automation solutions like AGVs to automate processes and lessen their reliance on manual labor as labor costs continue to climb in numerous areas.
  • Operational Efficiency is Necessary In logistics and warehousing settings, AGVs optimize processes, cut down on cycle times, and improve overall operational efficiency. The deployment of AGVs is mostly driven by the need to increase efficiency.
  • Safety and Risk Reduction Compared to manual material handling techniques, AGVs provide improved safety features and lower the chance of accidents. This feature is especially crucial in sectors where the adoption of AGVs is primarily motivated by safety concerns.
  • Technological Developments As a result of continuous improvements in sensors, artificial intelligence, and navigation systems, AGVs are becoming more capable, adaptable, and simple to include into current workflows, which is propelling the market’s expansion.
  • E-commerce Growth The need for quicker order fulfillment and more effective logistics is being driven by the rapidly expanding e-commerce sector. Because they facilitate quicker and more precise material movement, AGVs are essential to fulfilling the demands of e-commerce fulfillment centers.
  • Scalability and Flexibility Compared to traditional material handling equipment, AGVs offer scalability and flexibility, enabling businesses to adjust to changing business needs and changes in demand more effectively.
  • Environmental Sustainability Because AGVs can eliminate waste, cut down on energy use, and maximize resource usage in logistics operations, they are being chosen in light of the growing emphasis on environmental sustainability.
  • Government programs and Regulations The AGV industry is expanding as a result of government programs that support automation and the deployment of technology in logistics as well as laws that enhance worker productivity and safety.
  • Return on Investment (ROI) Companies are drawn to the long-term cost savings and ROI possibilities afforded by enhanced efficiency, decreased labor expenses, and minimal errors associated with AGV deployment, notwithstanding the initial investment needed to develop AGV systems.

Global Logistics Industry AGV Market Restraints

Several factors can act as restraints or challenges for the Logistics Industry AGV Market. These may include

  • Cost of the initial investment Purchasing the vehicles, setting up the infrastructure (such as charging stations or guiding systems), and integrating the AGVs with the current systems usually involve a sizable upfront investment when implementing AGVs in logistics operations. Adoption may be hampered by high upfront expenditures, particularly for startups or small businesses with limited resources.
  • Technical constraints Although technology has advanced, AGVs may still have technical constraints like accuracy in navigation, adaptation to changing situations, and dependability issues. These drawbacks may prevent their general adoption, especially in situations involving complicated or uncertain logistics.
  • Integration difficulties It can be difficult and time-consuming to integrate AGVs into current warehouse or distribution center operations. Adoption may be hampered by software integration difficulties, legacy system compatibility problems, and the requirement for significant process redesign.
  • Safety problems Because AGVs operate in shared surroundings with human workers, there are safety considerations. For businesses implementing AGV systems, ensuring both statutory safety criteria are met and the safe interaction between AGVs and human operators is a major concern.
  • Regulatory obstacles Regional regulatory frameworks that control the application of autonomous ground vehicles (AGVs) in logistics operations may impose different limitations or specifications. The deployment of AGVs may become more complicated and expensive in order to comply with labor laws, safety standards, and data protection requirements.
  • Resistance to change The logistics industry’s adoption of AGVs may be hampered by resistance to implementing new technologies and altering long-standing procedures. The adoption process may be slowed down by organizational inertia, fear of losing one’s job, and cultural hurdles within businesses.
  • Requirements for maintenance and support To guarantee optimum performance and dependability, AGVs need to get routine maintenance and support. Businesses may encounter difficulties finding replacement parts, preparing staff for maintenance duties, and handling downtime during maintenance operations.
  • Economic uncertainty Decisions about investing in AGV technology can be influenced by economic factors such as changes in market demand, GDP growth, and exchange rates. AGV adoption in the logistics sector may be impacted by enterprises’ conservative expenditure decisions brought on by economic uncertainty.

Global Logistics Industry AGV Market Segmentation Analysis

The Global Logistics Industry AGV Market is Segmented on the basis of Type of AGV, Application, Industry Vertical, and Geography.

Logistics Industry AGV Market, By Industry Vertical

  • Automotive AGVs used in automotive manufacturing plants for tasks such as parts delivery, assembly line feeding, and finished vehicle transportation.
  • E-commerce & Retail AGVs deployed in warehouses and fulfillment centers to handle the high volume of orders, including picking, sorting, and shipping.
  • Food & Beverage AGVs utilized in food processing facilities, warehouses, and distribution centers for tasks such as ingredient handling, palletizing, and order fulfillment.
  • Healthcare & Pharmaceuticals AGVs employed in hospitals, pharmacies, and pharmaceutical manufacturing facilities for tasks such as medication delivery, inventory management, and material handling.
  • Electronics AGVs used in electronics manufacturing facilities for tasks such as component delivery, circuit board handling, and finished product transportation.

Logistics Industry AGV Market, By Application

  • Warehousing AGVs used for material movement, storage, and retrieval within warehouses, distribution centers, and fulfillment centers.
  • Manufacturing AGVs employed in manufacturing facilities for tasks such as assembly line delivery, parts transport, and work-in-progress movement.
  • Distribution AGVs involved in the movement of goods within distribution networks, including cross-docking, order picking, and loading/unloading.
  • Assembly AGVs utilized in assembly processes to transport components between different workstations or assembly lines.
  • Packaging AGVs assisting in packaging processes by transporting finished goods to packaging stations or palletizing areas.

Logistics Industry AGV Market, By Type of AGV

  • Forklift AGVs AGVs equipped with forks for pallet handling, loading/unloading, and stacking tasks.
  • Tugger AGVs AGVs designed to tow carts or trailers within a facility, often used for moving materials between various workstations or production areas.
  • Unit Load AGVs AGVs capable of transporting entire pallets, containers, or other unitized loads.
  • Tow Tractor AGVs AGVs specifically designed for towing heavy loads, commonly used in industries such as automotive and logistics.

Logistics Industry AGV Market, By Geography

  • North America Market conditions and demand in the United States, Canada, and Mexico.
  • Europe Analysis of the Logistics Industry AGV Market in European countries.
  • Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
  • Middle East and Africa Examining market dynamics in the Middle East and African regions.
  • Latin America Covering market trends and developments in countries across Latin America.

Key Players

The major players in the Logistics Industry AGV Market are

  • Daifuku Co., Ltd.
  • Aethon, Inc.
  • JBT Corporation
  • DS AUTOMOTION GmbH
  • Meidensha Corporation
  • Seegrid Corporation
  • Aichikikai Co., Ltd.
  • Yonegy Engineering Co., Ltd.
  • Toyota Material Handling
  • EK Automation GmbH

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2020-2030

Base Year

2023

Forecast Period

2024-2030

Historical Period

2020-2022

UNIT

Value (USD Billion)

Key Companies Profiled

Daifuku Co., Ltd., Aethon, Inc., JBT Corporation, DS AUTOMOTION GmbH, Meidensha Corporation, Aichikikai Co., Ltd., Yonegy Engineering Co., Ltd., Toyota Material Handling, EK Automation GmbH.

Segments Covered

By Type of AGV, By Application, By Industry Vertical, and By Geography.

Customization Scope

Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Top Trending Reports

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any  please connect with our sales team, who will ensure that your requirements are met.

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )