At 10.5% CAGR, the South America Automated Guided Vehicle Market is projected to be worth US$ 120.97 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the South America automated guided vehicle market was valued at US$ 54.45 million in 2022 and is expected to reach US$ 120.97 million by 2030, registering a CAGR of 10.5% 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 South America automated guided vehicle market expansion.             

Industry 4.0 is a new phase of the industrial revolution, which highly emphasizes automation, interconnectivity, real-time data, and machine learning. By combining Industry 4.0 with automation systems, traditional industrial facilities are gradually evolving into smart, connected, and highly efficient automated facilities. It forms a single automated unit that combines computers and industrial automation solutions with the help of robotics. A network of connected devices creates a smart architecture capable of making decentralized decisions. Increasing adoption of automated guided vehicles among Industry 4.0 companies is expected to improve warehouse safety, allow companies to achieve higher levels of lean manufacturing, and increase productivity and profitability while lowering long-term costs. The overall adoption of Industry 4.0 is significantly low among companies and offers a potential opportunity for AGV players. Industry 4.0 also aims to create an operational environment wherein humans and robots can work together efficiently in warehouses. For instance, DHL Supply Chain, a contract logistics leader within Deutsche Post DHL Group, uses AGVs and robots in its warehouses for picking. The company collaborated with Robomotive, a Dutch industrial automation company, to develop a robot cell capable of depalletizing, picking, and order fulfillment functions. Staubli Faverges SCA, a robotics and mechatronics supplying company, has been recognized for its magnificence and reliable strategies for over a century. Their robot improves productivity without reducing floor space, making it perfect for low-volume production. Thus, increasing manufacturing of automated guided vehicles incorporating Industry 4.0 is anticipated to provide remarkable growth opportunities for players operating in the market. This is expected to drive the South America automated guided vehicle market during the forecast period.

On the contrary, high upfront costs hurdles the growth of South America automated guided vehicle market. 

Based on technology, the South 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 49.4% market share in 2022, amassing US$ 26.91 million. It is projected to garner US$ 63.01 million by 2030 to expand at 11.2% CAGR during 2022–2030.

Based on vehicle type, the South America automated guided vehicle market is categorized into pallet trucks, tow vehicle, tugger trains, forklift trucks, and others. The tow vehicle segment held 37.6% share of South America automated guided vehicle market in 2022, amassing US$ 20.47 million. It is projected to garner US$ 49.98 million by 2030 to expand at 11.8% CAGR during 2022–2030.

Based on end user, the South America automated guided vehicle market is categorized into general manufacturing, food and beverage, aerospace, retail, healthcare, logistics, automotive, and others. The logistics segment held 40.4% share of South America automated guided vehicle market in 2022, amassing US$ 22.02 million. It is projected to garner US$ 54.54 million by 2030 to expand at 12.0% CAGR during 2022–2030.

Based on country, the South America automated guided vehicle market has been categorized into Brazil, Argentina, and the Rest of South America.  Our regional analysis states that Brazil captured 46.0% share of South America 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 the South 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 May 2021, Daifuku breaks ground for a new manufacturing plant.
• In June 2021, JBT Signs Agreement to Acquire Prevenio.

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