[Latest] Global Automated Guided Vehicles Market Size to Hit USD 12.7 Billion at a CAGR of 9.0% by 2034 - Report by Zion Market Research

The global automated guided vehicles market size is projected to reach USD 12.7 billion by 2034 from its value of USD 5.4 billion in 2024, at a CAGR of 9.0% during the forecast period.

NEW YORK, USA, Sept. 11, 2025 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Automated Guided Vehicles (AGVs) Market By Vehicle Type (Tow Vehicle, Unit Load Carrier, Pallet Truck, Forklift Truck, Hybrid Vehicles, and Others), By Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation, and Others), By Application (Logistics and Warehousing, Assembly, Packaging, Trailer Loading and Unloading, Raw Material Handling, and Others), By Industry Vertical (Food & Beverage, Automotive, Retail, Electronics & Electrical, Manufacturing, Pharmaceuticals, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2025 - 2034” in its research database.

“According to the latest research study, the global automated guided vehicles market size was valued at around USD 5.4 billion in 2024. The market is expected to grow at a CAGR of 9.0% and is anticipated to reach a value of USD 12.7 billion by 2034.”

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Automated Guided Vehicles (AGV) Industry Overview:

An Automated Guided Vehicle (AGV) system, also known as autonomous guided vehicles, self-guided vehicles, or mobile robots, is a vehicle designed to move things or materials in a controlled space without a person driving or operating the vehicle. They can often find them at factories, warehouses, and places where products are shipped. Automated guided vehicle systems are used to move huge numbers of items from one area to another, which is a job that is generally done by forklifts, conveyor systems, or manned carts. The best thing about these systems compared to old-fashioned ones is that they can work on their own, without requiring support from individuals.

The Automated Guided Vehicles (AGVs) market is driven by several factors, such as increasing demand for automation in material handling, expansion in e-commerce, technological advancements, and the increasing trend for automation. However, the high initial investment and maintenance costs act as a major restraining factor to the development of the Automated Guided Vehicles (AGVs) Market.

Report Scope:

Report Attribute	Report Details
Market Size in 2024	USD 5.4 Billion
Market Forecast in 2034	USD 12.7 Billion
Growth Rate	CAGR of 9.0%
Base Year	2024
Forecast Years	2025- 2034
Key Companies Covered	Dematic, BALYO, Bastian Solutions LLC, Daifuku Co. Ltd., Swisslog Holding AG, JBT, Seegrid Corporation, TOYOTA INDUSTRIES CORPORATION, Hyster-Yale Materials, Handling Inc., KION GROUP AG, E&K Automation GmbH, Kollmorgen, KMH Fleet Solutions, ELETTRIC80 S.P.A., inVia Robotics Inc., and others.
Segments Covered	By Vehicle Type, By Navigation Technology, By Application, By Industry Vertical, and By Region
Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Customization Scope	Avail customized purchase options to meet your exact research needs.

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Key Insights

As per the analysis shared by our research analyst, the global Automated Guided Vehicles (AGVs) market is estimated to grow annually at a CAGR of around 9.0% over the forecast period (2025-2034).
In terms of revenue, the global Automated Guided Vehicles (AGVs) market size was valued at around USD 5.4 billion in 2024 and is projected to reach USD 12.7 billion by 2034.
The increasing labor shortage is expected to drive the Automated Guided Vehicles (AGVs) industry over the forecast period.
Based on the vehicle type, the tow vehicle segment is expected to hold the largest market share over the forecast period.
Based on the navigation technology, the laser guidance segment is expected to dominate the market over the projected period.
Based on the application, the logistics and warehousing segment is expected to capture a significant revenue share during the anticipated period.
Based on the industry vertical, the manufacturing segment is expected to capture a significant revenue share during the anticipated period.
Based on region, North America is expected to dominate the market during the forecast period.

Industry Growth Factors

The growing labor shortage across the manufacturing, warehousing, and logistics sectors is one of the key factors driving the Automated Guided Vehicles (AGVs) Market over the analysis period. For instance, according to the U.S. Bureau of Labor Statistics, employment in the manufacturing sector declined by 8.7 percent in 2023, with hours worked falling by 10.5 percent. So, these vehicles are viewed as a crucial solution to operational challenges created by workforce constraints, which enables companies to maintain productivity, reduce costs, and improve safety standards.

They operate 24/7, do repetitive or risky jobs, and reduce the demand on expert operators, who are becoming difficult and costly to employ. Further, the equipment is now equipped with advanced technologies such as AI-based navigation, real-time fleet coordination (including 5G-enabled communication), and higher payload capacities, which drive revenue expansion.

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Automated Guided Vehicles (AGV) Market: Segmentation

The global Automated Guided Vehicles (AGVs) industry is segmented based on vehicle type, navigation technology, application, industry vertical, and region.

Based on the vehicle type, the global Automated Guided Vehicles (AGVs) market is bifurcated into tow vehicle, unit load carrier, pallet truck, forklift truck, hybrid vehicles, and others. The tow vehicle segment is expected to hold the largest market share over the forecast period. The rapid growth is due to industries like automotive, manufacturing, and logistics needing better ways to move large products quickly and easily.

Based on the navigation technology, the global Automated Guided Vehicles (AGVs) industry is bifurcated into laser guidance, magnetic guidance, vision guidance, inductive guidance, natural navigation, and others. The laser guidance segment held the highest market share. The fast growth is because a growing number of people want accurate navigation tools that ensure safety and efficiency in industrial settings.

Based on the application, the global Automated Guided Vehicles (AGVs) market is bifurcated into logistics and warehousing, assembly, packaging, trailer loading and unloading, raw material handling, and others. The logistics and warehousing segment is expected to capture a significant revenue share during the anticipated period. This market is increasing because there is an increasing need to make material handling processes in warehouses and distribution centers more efficient and effective.

Based on the industry vertical, the global Automated Guided Vehicles (AGVs) industry is divided into food & beverage, automotive, retail, electronics & electrical, manufacturing, pharmaceuticals, and others. The manufacturing segment is expected to capture a significant revenue share during the anticipated period due to the rising trend of automation.

Regional Scope:

North America is expected to dominate the market. The regional growth of the region is attributed to the growing e-commerce industry. The U.S. Census Bureau, a department of the Department of Commerce, estimated U.S. retail e-commerce sales for the second quarter of 2025 at $304.2 billion, adjusted for seasonal fluctuations but not for price adjustments. This represents a 1.4% (±0.9%) increase over the first quarter.

Also, the region's persistent labor shortages in logistics and manufacturing are pushing companies to automate material handling to maintain productivity. Further, the presence of major players such as John Bean Technologies Corporation, Seegrid Corporation, Toyota Material Handling, Swisslog Holding AG (KUKA AG), and Daifuku Co., Ltd. influences market sales in terms of revenue.

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Some of the main players in the global automated guided vehicles market include;

Dematic
BALYO
Bastian Solutions LLC
Daifuku Co. Ltd.
Swisslog Holding AG
JBT
Seegrid Corporation
TOYOTA INDUSTRIES CORPORATION
Hyster-Yale Materials
Handling Inc.
KION GROUP AG
E&K Automation GmbH
Kollmorgen
KMH Fleet Solutions
ELETTRIC80 S.P.A.
inVia Robotics Inc.

The global automated guided vehicles market is segmented as follows:

By Vehicle Type

Tow Vehicle
Unit Load Carrier
Pallet Truck
Forklift Truck
Hybrid Vehicles
Others

By Navigation Technology

Laser Guidance
Magnetic Guidance
Vision Guidance
Inductive Guidance
Natural Navigation
Others

By Application

Logistics and Warehousing
Assembly
Packaging
Trailer Loading and Unloading
Raw Material Handling
Others

By Industry Vertical

Food & Beverage
Automotive
Retail
Electronics & Electrical
Manufacturing
Pharmaceuticals
Others

By Region

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America

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Key Questions Answered in This Report:

What is automated guided vehicles?
Which key factors will influence the automated guided vehicles market growth over 2025-2034?
What will be the value of the automated guided vehicles market during 2025-2034?
What will be the CAGR value of the automated guided vehicles market during 2025-2034?
Which region will contribute notably towards the automated guided vehicles market value?
Which are the major players leveraging the automated guided vehicles market growth?
What can be expected from the global automated guided vehicles market report?

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