Automated Guided Vehicle Market Summary

The global automated guided vehicle market size was estimated at USD 5.34 billion in 2024 and is expected to reach USD 9.18 billion by 2030, growing at a CAGR of 9.2% from 2025 to 2030. Increased productivity and reduced labor costs continue to be the primary factors driving the demand for automated guided vehicles (AGVs). These systems help streamline operations, minimize manual intervention, and ensure consistent performance across various industrial activities.

The demand for AGVs is anticipated to rise further due to the growing automation trends across multiple industries, particularly in manufacturing, logistics, and warehousing. Continuous innovation and research efforts have led to the emergence of next-generation AGVs equipped with advanced technologies such as artificial intelligence and machine learning. These smart AGVs have gained significant attention because they can automatically adjust to dynamic environments without depending on fixed routes. A notable example of this technological progress occurred in September 2024 when Toyota Material Handling Europe introduced a high-density AGV and pallet shuttle system designed to enhance storage capacity and improve operational efficiency in warehouse infrastructures.

Key Market Trends & Insights

  • North America dominated with a revenue share of over 23.0% in 2024 in the automated guided vehicle industry, supported by strong investments in industrial automation and the adoption of advanced intralogistics systems.
  • The U.S. automated guided vehicle industry is expected to grow in 2024, driven by increased modernization of supply chain operations, rising e-commerce activity, and the continuous integration of robotics across major industrial sectors.
  • By vehicle type, the tow vehicle segment led the automated guided vehicle industry in 2024, accounting for over 38.0% of global revenue. Its high adoption is attributed to its ability to transport heavy loads efficiently and support repetitive material handling processes.
  • By navigation technology, the laser guidance segment led the AGV market in 2024, largely due to its precision, reliability, and suitability for complex warehouse layouts.
  • By application, the logistics and warehousing segment led the market in 2024, reflecting the rising need for automated material movement, optimized inventory handling, and reduced operational delays.

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Market Size & Forecast

  • 2024 Market Size: USD 5.34 Billion
  • 2030 Projected Market Size: USD 9.18 Billion
  • CAGR (2025-2030): 9.2%
  • North America: Largest market in 2024
  • Asia Pacific: Fastest growing market

Key Companies & Market Share Insights

Some key players in the automated guided vehicle industry, such as BALYO, Bastian Solutions, LLC, and Daifuku Co., Ltd. are actively working to expand their customer base and gain a competitive advantage. To achieve this, they are pursuing various strategic initiatives, including partnerships, mergers and acquisitions, collaborations, and the development of new products and technologies. This proactive approach allows them to enhance their market presence and innovate in response to evolving security needs.

  • BALYO specializes in designing, engineering, and manufacturing autonomous driving forklifts based on standard trucks. The company converts conventional forklift trucks into independent, intelligent robots that can assist human operators. The Balyo model can be guided without the use of reflectors or ground lines. BALYO offers a wide range of Autonomous Guided Vehicles (AGVs) that enable companies to automate their warehouse or factory.
  • Bastian Solutions, LLC is a provider of material handling and automation solutions, specializing in integrated systems such as AGVs, robotics, conveyor systems, and Warehouse Management Systems (WMS). The company focuses on helping businesses streamline operations, improve productivity, and enhance supply chain efficiency through tailored automation solutions. The company’s business is broadly classified into solutions and services.

Key Players

  • Swisslog Holding AG
  • KION GROUP AG
  • Bastian Solutions, LLC
  • Daifuku Co., Ltd.
  • Dematic
  • JBT
  • Seegrid Corporation
  • TOYOTA INDUSTRIES CORPORATION
  • Hyster-Yale Materials Handling, Inc.
  • BALYO
  • E&K Automation GmbH
  • Kollmorgen
  • KMH Fleet Solutions
  • ELETTRIC80 S.P.A.
  • inVia Robotics, Inc.
  • Locus Robotics
  • Schaefer Systems International, Inc.
  • System Logistics Spa
  • Transbotics (A division of Scott Systems International Incorporated)
  • Zebra Technologies Corp.

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Conclusion

The automated guided vehicle market is poised for strong growth as industries increasingly shift toward automation to enhance productivity, accuracy, and operational safety. With rising labor costs and the need for streamlined workflows, AGVs are becoming an essential component of modern industrial systems. Advancements in AI, machine learning, and sensor technologies will continue to elevate AGV capabilities, making them more flexible and efficient. North America’s leadership and global innovation efforts will further accelerate adoption across key sectors. As logistics, warehousing, and manufacturing expand their automation initiatives, the AGV market will remain a critical driver of next-generation industrial transformation.