Report : North America 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 12.5% CAGR, the North America Automated Guided Vehicle Market is speculated to be worth US$ 2,976.90 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the North America automated guided vehicle market was valued at US$ 1,161.16 million in 2022 and is expected to reach US$ 2,976.90 million by 2030, registering a CAGR of 12.5% 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 North America automated guided vehicle market expansion.
Industrialization and automation are revolutionizing the way businesses and industries operate across the North America. Automation has enabled businesses to become more cost-effective and efficient by excluding labor-intensive tasks and increasing production accuracy and speed. Automation also has the potential to improve product quality and decrease human error. It has allowed businesses to improve customer service, modernize their operations, and reduce customer wait times. Automation is also helping businesses become more flexible, acknowledging them to respond quickly to changes in the market. As businesses embrace automation, they quickly realize the benefits it can bring to their operations. Industrialization and automation in industries are growing significantly. For instance, in June 2023, Rockwell Automation announced that 85% of automotive manufacturers plan to maintain or even increase their workforce due to technology adoption. In addition, 64% of businesses use software to automate processes, and 54% of leaders are increasing automation to address labor shortages. According to the data of SSE Automation, industrial production has grown rapidly, and almost 90% of companies perceive benefits in automation. As investments in automation increase and technology becomes more accessible, the market will witness massive growth. Automated guided vehicles are widely used for several purposes: increasing safety, lowering production time, assuring high production volume, and minimizing the risk of human mistakes. Thus, growing industrialization and automation in industries drive the North America automated guided vehicles market. This is expected to drive the North America automated guided vehicle market during the forecast period.
On the contrary, high upfront costs hurdles the growth of North America automated guided vehicle market.
Based on technology, the North America 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 35.0% market share in 2022, amassing US$ 406.44 million. It is projected to garner US$ 1,158.77 million by 2030 to expand at 14.0% CAGR during 2022–2030.
Based on vehicle type, the North America automated guided vehicle market is categorized into pallet trucks, tow vehicle, tugger trains, forklift trucks, and others. The tow vehicle segment held 30.5% share of North America automated guided vehicle market in 2022, amassing US$ 353.85 million. It is projected to garner US$ 1,016.37 million by 2030 to expand at 14.1% CAGR during 2022–2030.
Based on end user, the North America automated guided vehicle market is categorized into general manufacturing, food and beverage, aerospace, retail, healthcare, logistics, automotive, and others. The logistics segment held 34.8% share of North America automated guided vehicle market in 2022, amassing US$ 403.68 million. It is projected to garner US$ 1,189.13 million by 2030 to expand at 14.5% CAGR during 2022–2030.
Based on country, the North America automated guided vehicle market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.9% share of North America automated guided vehicle market in 2022. It was assessed at US$ 986.06 million in 2022 and is likely to hit US$ 2,573.10 million by 2030, exhibiting a CAGR of 12.7% during 2022–2030.
Key players operating in the North America 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, Dematic Launches its Third-Generation Freezer-Rated AGVs.
- In Mar 2019, Crown collaborates with JBT on material handling automation.
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