A recent study from Reports & Data indicates that the Automated Guided Vehicle (AGV) market is expected to grow at a compounded annual growth rate of 6.8% to reach $3.25 billion by 2026. Some of the crucial factors driving this growth include:
- Increasing demand for higher levels of material handling.
- The added time-related pressures driven by e-commerce.
- Heightened requirements for safety standards in the workplace.
- Increased productivity expectations due to improved supply chain processes.
- Strong, long-term return on investment.
In terms of the AGV types, the tow vehicles segment is expected to hold the dominant market position, with a CAGR of 8.2% through 2026. The towing vehicle offers the ability to automatically collect and transport materials or components without a human interface. A key element of these vehicles is obviously the autonomous navigation system they employ. According to the report, laser guidance technology is expected to hold the largest market share with a CAGR of 8.45% through 2026.
Laser guidance is considered the most flexible vehicle movement system, providing more precise navigation. It uses a combination of mounted reflectors and an onboard laser source to detects reflections, receiving distance and angle information that can be stored in the vehicle’s memory.
Based on this information, the AGV can calculate its position and navigate safely and efficiently. These types of systems also play into the primary challenge facing AGV growth – initial cost.
The report identified the most significant AGV players as:
- SSI Schaefer (Germany)
- EK Automation (Germany)
- JBT Corporation (U.S.)
- Toyota Industrial (Japan)
- Daifuku (Japan)
- Hyster-Yale Materials Handling (U.S.)
- KUKA (Germany)
- KION Group (Germany)
- Kollmorgen (U.S.)
- Seegrid Corporation (U.S.)