At 11.2% CAGR, the Middle East & Africa Automated Guided Vehicle Market is projected to be worth US$ 471.06 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa automated guided vehicle market was valued at US$ 201.92 million in 2022 and is expected to reach US$ 471.06 million by 2030, registering a CAGR of 11.2% 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 Middle East & Africa 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 Middle East & Africa automated guided vehicle market. This is expected to drive the Middle East & Africa automated guided vehicle market during the forecast period.

On the contrary, high upfront costs hurdles the growth of Middle East & Africa automated guided vehicle market. 

Based on technology, the Middle East & Africa 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 43.4% market share in 2022, amassing US$ 87.67 million. It is projected to garner US$ 218.15 million by 2030 to expand at 12.1% CAGR during 2022–2030.

Based on vehicle type, the Middle East & Africa automated guided vehicle market is categorized into pallet trucks, tow vehicle, tugger trains, forklift trucks, and others. The tow vehicle segment held 38.2% share of Middle East & Africa automated guided vehicle market in 2022, amassing US$ 77.20 million. It is projected to garner US$ 195.78 million by 2030 to expand at 12.3% CAGR during 2022–2030.

Based on end user, the Middle East & Africa automated guided vehicle market is categorized into general manufacturing, food and beverage, aerospace, retail, healthcare, logistics, automotive, and others. The logistics segment held 38.2% share of Middle East & Africa automated guided vehicle market in 2022, amassing US$ 77.09 million. It is projected to garner US$ 201.73 million by 2030 to expand at 12.8% CAGR during 2022–2030.

Based on country, the Middle East & Africa automated guided vehicle market has been categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa.  Our regional analysis states that Saudi Arabia captured 46.0% share of Middle East & Africa automated guided vehicle market in 2022. It was assessed at US$ 92.94 million in 2022 and is likely to hit US$ 230.49 million by 2030, exhibiting a CAGR of 12.0% during 2022–2030.            

Key players operating in the Middle East & Africa automated guided vehicle market are Daifuku Co Ltd; Dematic Corp; John Bean Technologies Corp; Jungheinrich AG; Konecranes Plc; Murata Machinery Ltd; and Toyota Material Handling Inc among others.

• In May 2021, Daifuku breaks ground for a new manufacturing plant.
• In June 2021, JBT Signs Agreement to Acquire Prevenio.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com