NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET FORECAST 2023-2032
SCOPE OF THE REPORT
North America Automated Guided Vehicle Market by Application (Manufacturing, Warehouse & Distribution) Market by Battery Type (Lead Battery, Lithium-ion Battery, Nickel-based Battery) Market by Vehicle Type (Tow Vehicles, Unit Load Carriers, Automated Forklift, Pallet Trucks, Other Vehicle Types) Market by Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Other Navigation Technologies) by Geography
REPORTS » AUTOMATION » NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET FORECAST 2023-2032
MARKET OVERVIEW
The North America automated guided vehicle market is projected to generate $1174.86 million by 2032, surging at a 7.78% CAGR during the assessment period, 2023-2032.
The growing worry regarding the region’s scarcity of skilled labor is projected to spur demand for automated guided vehicles (AGVs). This escalating demand responds to the operational efficiency and labor reduction these vehicles offer. Furthermore, North America automated guided vehicle market is likely to be buoyed by the surge in e-commerce businesses and the corresponding increase in import and export activities. These factors collectively enhance the need for efficient and automated material handling solutions, driving the North America automated guided vehicle market.
![](https://inkwoodresearch.com/wp-content/uploads/edd/2023/07/North-America-Automated-Guided-Vehicle-Market.jpg)
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The North America automated guided vehicle market growth evaluation includes the assessment of the United States and Canada. In the United States, the manufacturing sector forms the backbone of export activities, with manufactured goods accounting for the majority of outbound shipments. The safety of manufacturing processes is considered a paramount concern. The responsibility of administering and enforcing regulations aimed at safeguarding the health and safety of workers falls under the purview of three agencies under the United States Department of Labor: the Occupational Safety and Health Administration (OSHA), the Mine Safety and Health Administration (MSHA), and the Fair Labor Standards Act (FLSA).
Parallel to this, the e-commerce landscape is witnessing a significant expansion, driven largely by the rise of business giants such as Amazon and Walmart. This expansion is creating complex logistical challenges for manufacturers. Automated guided vehicles (AGVs) are increasingly used to streamline operations. AGVs enhance operational efficiency within warehouses and distribution centers by preventing collisions with goods or other vehicles, thereby improving overall productivity and safety.
The North America automated guided vehicle market segmentation analysis entails application, vehicle type, navigation technology, and battery type. Market by vehicle type covers unit load carriers, pallet trucks, tow vehicles, automated forklifts, and other vehicle types.
Towing vehicles, also recognized as tugger-automated guided vehicles (AGVs), are designed to pull one or more unpowered, load-bearing vehicles in a train-like sequence. They find significant utility in sectors such as food & beverage, aerospace, automotive, and retail, where products frequently need to be transported over considerable distances, sometimes across different buildings, outdoors, or within expansive, scattered systems where the travel paths are long.
On the other hand, unit load automated guided vehicles (AGVs) are designed to manage discrete loads such as individual items or singular units like totes or pallets holding multiple items. Typically equipped with roll conveyors, these AGVs are capable of moving swiftly and securely throughout warehouses and production facilities. They serve a crucial role in transporting packages, even heavy or potentially hazardous ones, to predefined areas within a building, thereby mitigating the risks associated with manual handling.
Key players operating in the North America automated guided vehicle market include Mitsubishi Logisnext, John Bean Technologies Corporation, Hyster-Yale Materials Handling Inc, etc.
Hyster-Yale Materials Handling Inc (“Hyster-Yale”), along with its subsidiaries, including its operational company, Hyster-Yale Group Inc (“HYG”), operates as a globally integrated, comprehensive lift truck manufacturer. The company provides extensive solutions tailored to address its customers’ specific materials handling requirements. These solutions include attachments, hydrogen fuel cell power products, telematics, automation, fleet management services, and various power options for its lift trucks. Headquartered in Cleveland, Ohio, the company, through HYG, specializes in designing, engineering, manufacturing, selling, and servicing a comprehensive line of lift trucks and aftermarket parts.
One of their remarkable products is the Hyster® Robotic Reach. This dual-mode and pantograph robotic reach truck can autonomously store and retrieve loads from heights of over 400 inches (33 feet). This feature maximizes vertical storage space and addresses labor shortages. The robotic solution is versatile enough to serve both single and double-deep pallet storage, offering a load capacity of 3,500 pounds.
On the other hand, automated pallet trucks are compact yet agile vehicles designed primarily for the horizontal transportation of palletized goods. They usually feature a load-bearing structure with forks, a frame, or a platform. These vehicles find extensive use in warehouse or factory environments where tasks such as order picking, transference of products between workstations, line feeding, and restocking are commonplace. Their specific design and automation make them valuable in maintaining efficient operations.
Other technologies integrated into automated guided vehicles (AGVs) include optical tape guidance and natural navigation. Optical tape guidance employs the use of tapes for navigation within a facility. This technology simplifies the process of lane installation and maintenance, making it cost-effective. The system can detect standard luminous adhesive tape regardless of surface imperfections, contaminants, or background. Furthermore, it provides the advantage of reading 1D codes, allowing for transmitting various data and driving commands in case of an overrun.
On the other hand, AGVs equipped with natural navigation are effortless to implement since they do not require the workspace to undergo any retrofitting. These vehicles utilize a blend of laser range finders and gyroscopes to identify their current location and dynamically calculate the shortest route to their intended destination. Additionally, these vehicles have the capability to compute a failsafe mechanism. This feature mitigates the downtime caused by a malfunctioning component, subsequently minimizing the impact on the overall operation.
REPORT SYNOPSIS
REPORT SCOPE | DETAILS |
---|---|
Market Forecast Years | 2023-2032 |
Base Year | 2022 |
Market Historical Years | 2018-2022 |
Forecast Units | Revenue ($ Million) |
Segments Analyzed | Application, Battery Type, Vehicle Type, and Navigation Technology |
Countries Analyzed | United States and Canada |
Companies Analyzed | Balyo, Daifuku Co Ltd, Hyster-Yale Materials Handling Inc, John Bean Technologies Corporation, KION Group AG, Mitsubishi Logisnext Co Ltd, Oceaneering International Inc, SSI Schaefer Group, Swisslog Holding AG, Toyota Industries Corporation, VisionNav Robotics |
TABLE OF CONTENT
RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
- SCOPE OF STUDY
- CRISIS SCENARIO ANALYSIS
- IMPACT OF COVID-19 ON AUTOMATED GUIDED VEHICLE MARKET
- MAJOR MARKET FINDINGS
- GROWING WAREHOUSE ACTIVITIES ACROSS GLOBE
- ADVANCEMENTS IN RELATED TECHNOLOGIES
MARKET DYNAMICS
- KEY DRIVERS
- SURGING DEMAND FOR AUTOMATION IN MATERIAL HANDLING
- ADOPTION OF STRINGENT SAFETY REGULATIONS AT WORKPLACES
- IMPROVED WORKFLOW IN PRODUCTION PROCESSES
- KEY RESTRAINTS
- HIGH SETUP COSTS
- RESTRICTED FLEXIBILITY
- KEY DRIVERS
KEY ANALYTICS
- PARENT MARKET ANALYSIS
- KEY MARKET TRENDS
- INCREASING DEMAND IN E-COMMERCE FULFILMENT CENTERS
- INDUSTRY 4.0 PROMOTING INDUSTRIAL AUTOMATION
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- GROWTH PROSPECT MAPPING
- MARKET CONCENTRATION ANALYSIS
- VALUE CHAIN ANALYSIS
- RAW MATERIALS SUPPLIERS
- OEMS
- DISTRIBUTORS
- END-USERS
- KEY BUYING CRITERIA
- PRODUCT FEATURES
- TYPE OF TECHNOLOGY
- PAYLOAD CAPACITY
MARKET BY APPLICATION
- MANUFACTURING
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- WAREHOUSE & DISTRIBUTION
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- MANUFACTURING
MARKET BY BATTERY TYPE
- LEAD BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- LITHIUM-ION BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- NICKEL-BASED BATTERY
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- LEAD BATTERY
MARKET BY VEHICLE TYPE
- TOW VEHICLES
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- UNIT LOAD CARRIERS
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- AUTOMATED FORKLIFT
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- PALLET TRUCKS
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- OTHER VEHICLE TYPES
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- TOW VEHICLES
MARKET BY NAVIGATION TECHNOLOGY
- LASER GUIDANCE
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- MAGNETIC GUIDANCE
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- VISION GUIDANCE
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- INDUCTIVE GUIDANCE
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- OTHER NAVIGATION TECHNOLOGIES
- MARKET FORECAST FIGURE
- SEGMENT ANALYSIS
- LASER GUIDANCE
GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED STATES
- UNITED STATES AUTOMATED GUIDED VEHICLE MARKET SIZE & OPPORTUNITIES
- CANADA
- CANADA AUTOMATED GUIDED VEHICLE MARKET SIZE & OPPORTUNITIES
- UNITED STATES
- NORTH AMERICA
COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- COMPANY PROFILES
- BALYO
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES ANALYSIS
- DAIFUKU CO LTD
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES ANALYSIS
- HYSTER-YALE MATERIALS HANDLING INC
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES ANALYSIS
- JOHN BEAN TECHNOLOGIES CORPORATION
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES ANALYSIS
- KION AG
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES ANALYSIS
- MITSUBISHI LOGISNEXT CO LTD
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES ANALYSIS
- OCEANEERING INTERNATIONAL INC
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES ANALYSIS
- SSI SCHAEFER GROUP
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES ANALYSIS
- SWISSLOG HOLDING AG
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES ANALYSIS
- TOYOTA INDUSTRIES CORPORATION
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES ANALYSIS
- VISIONNAV ROBOTICS
- COMPANY OVERVIEW
- PRODUCT LIST
- BALYO
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – AUTOMATED GUIDED VEHICLE
TABLE 2: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 4: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY BATTERY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY BATTERY TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 6: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 8: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY NAVIGATION TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 10: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 11: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 12: KEY PLAYERS OPERATING IN NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET
TABLE 13: LIST OF ACQUISITIONS
TABLE 14: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 15: LIST OF PARTNERSHIPS & AGREEMENTS
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING
FIGURE 4: MARKET CONCENTRATION ANALYSIS
FIGURE 5: VALUE CHAIN ANALYSIS
FIGURE 6: KEY BUYING CRITERIA
FIGURE 7: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022
FIGURE 8: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY MANUFACTURING, 2023-2032 (IN $ MILLION)
FIGURE 9: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY WAREHOUSE & DISTRIBUTION, 2023-2032 (IN $ MILLION)
FIGURE 10: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, GROWTH POTENTIAL, BY BATTERY TYPE, IN 2022
FIGURE 11: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY LEAD BATTERY, 2023-2032 (IN $ MILLION)
FIGURE 12: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY LITHIUM-ION BATTERY, 2023-2032 (IN $ MILLION)
FIGURE 13: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY NICKEL-BASED BATTERY, 2023-2032 (IN $ MILLION)
FIGURE 14: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2022
FIGURE 15: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY TOW VEHICLES, 2023-2032 (IN $ MILLION)
FIGURE 16: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY UNIT LOAD CARRIERS, 2023-2032 (IN $ MILLION)
FIGURE 17: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY AUTOMATED FORKLIFT, 2023-2032 (IN $ MILLION)
FIGURE 18: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY PALLET TRUCKS, 2023-2032 (IN $ MILLION)
FIGURE 19: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY OTHER VEHICLE TYPES, 2023-2032 (IN $ MILLION)
FIGURE 20: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, GROWTH POTENTIAL, BY NAVIGATION TYPE, IN 2022
FIGURE 21: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY LASER GUIDANCE, 2023-2032 (IN $ MILLION)
FIGURE 22: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY MAGNETIC GUIDANCE, 2023-2032 (IN $ MILLION)
FIGURE 23: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY VISION GUIDANCE, 2023-2032 (IN $ MILLION)
FIGURE 24: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY INDUCTIVE GUIDANCE, 2023-2032 (IN $ MILLION)
FIGURE 25: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, BY OTHER NAVIGATION TECHNOLOGIES, 2023-2032 (IN $ MILLION)
FIGURE 26: NORTH AMERICA AUTOMATED GUIDED VEHICLE MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)
FIGURE 27: UNITED STATES AUTOMATED GUIDED VEHICLE MARKET, 2023-2032 (IN $ MILLION)
FIGURE 28: CANADA AUTOMATED GUIDED VEHICLE MARKET, 2023-2032 (IN $ MILLION)
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