Report : Asia Pacific Automated Guided Vehicle Market Forecast to 2030 - Regional Analysis - by Technology (Wired Navigation, Guide Tape Navigation, Laser Target Navigation, Magnetic Navigation, and Others), Vehicle Type (Pallet Trucks, Unit Load Carriers, Driverless Trains, Forklift Trucks, and Others), and End User (General Manufacturing, Food and Beverage, Aerospace, Retail, Healthcare, Logistics, Automotive, and Others)

At 13.8% CAGR, the Asia Pacific Automated Guided Vehicle Market is speculated to be worth US$ 5,034.69 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific automated guided vehicle market was valued at US$ 1,794.60 million in 2022 and is expected to reach US$ 5,034.69 million by 2030, registering a CAGR of 13.8% from 2022 to 2030. Increasing industrialization and automation in industries, huge growth in e-commerce sector, and increasing need for well-managed operations in warehouses, distribution, and manufacturing facilities are the critical factors attributed to the Asia Pacific automated guided vehicle market expansion.

The substantial growth of industries such as general manufacturing, food & beverage, aerospace, retail, healthcare, logistics, and automotive presents significant opportunities for the automated guided vehicle (AGV) market. The growth of the industrial sector is projected to simultaneously generate the demand for efficient and streamlined material handling processes. AGVs offer automated and optimized movement of materials within manufacturing facilities, warehouses, and distribution centers, leading to enhanced productivity and reduced operational costs. Some of the most common applications of AGVs in the automotive industry are engine and gearbox assembly, manufacturing process, part delivery, maintenance, and testing applications.

Various automotive industry players deploy autonomous guided vehicles to improve the production value chain. In December 2020, Continental AG developed autonomous guided vehicles (AGVs) to improve the efficiency of its production. These AGVs can transport heavy loads, which, in turn, help increase the efficiency of the entire value chain. Raw material handling, work-in-process handling, finished goods handling, loading, and unloading are a few of the most common applications in the manufacturing industry.

Various manufacturers use automated guided vehicles in their manufacturing plants to increase productivity. In 2022, ek robotics GmbH announced a complete turnkey automated guided vehicle (AGV) solution in partnership with automotive giant BMW. This partnership assisted BMW in optimizing and automating its manufacturing and warehouse applications through the arrival of ek robotics GmbH AGVs. The rising adoption of AGVs in industries has empowered businesses with an opportunity to optimize material handling processes, reduce operational costs, and stay competitive in a rapidly evolving industrial landscape. Thus, the growing industrial sector is projected to fuel the Asia Pacific automated guided vehicle market. This is expected to drive the Asia Pacific automated guided vehicle market during the forecast period.

On the contrary, high upfront costs hurdles the growth of Asia Pacific automated guided vehicle market. 

Based on technology, the Asia Pacific automated guided vehicle market is categorized into wired navigation, guide tape navigation, laser target navigation, magnetic navigation, and others. The laser target navigation segment held 40.5% market share in 2022, amassing US$ 726.19 million. It is projected to garner US$ 2,181.95 million by 2030 to expand at 14.7% CAGR during 2022–2030.

Based on vehicle type, the Asia Pacific automated guided vehicle market is categorized into pallet trucks, tow vehicle, tugger trains, forklift trucks, and others. The tow vehicle segment held 31.6% share of Asia Pacific automated guided vehicle market in 2022, amassing US$ 567.57 million. It is projected to garner US$ 1,767.40 million by 2030 to expand at 15.3% CAGR during 2022–2030.

Based on end user, the Asia Pacific automated guided vehicle market is categorized into general manufacturing, food and beverage, aerospace, retail, healthcare, logistics, automotive, and others. The logistics segment held 32.8% share of Asia Pacific automated guided vehicle market in 2022, amassing US$ 589.40 million. It is projected to garner US$ 1,893.44 million by 2030 to expand at 15.7% CAGR during 2022–2030.

Based on country, the Asia Pacific automated guided vehicle market has been categorized into China, Japan, India, South Korea, Australia, Indonesia, Singapore, Malaysia, Thailand, and the Rest of Asia Pacific.  Our regional analysis states that China captured 44.1% share of Asia Pacific automated guided vehicle market in 2022. It was assessed at US$ 792.14 million in 2022 and is likely to hit US$ 2,487.90 million by 2030, exhibiting a CAGR of 15.4% during 2022–2030.            

Key players operating in the Asia Pacific automated guided vehicle market are Bastian solutions, LLC; Daifuku Co Ltd; Dematic Corp; Hyster-Yale Group Inc; John Bean Technologies Corp; Jungheinrich AG; Kion Group AG; Konecranes Plc; Murata Machinery Ltd; and Toyota Material Handling Inc among others.

  • In June 2023, Konecranes has acquired the industrial crane service business of Norway’s Munck Cranes AS to strengthen its Nordic operations.
  • In May 2023, JBT Corporation Announces Definitive Agreement to Sell its AeroTech Business.

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