Market Overview:
The global Automatic Guided Vehicle (AGV) Forklift market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for AGVs in logistics, manufacturing, and wholesale and retail applications. Additionally, the growing adoption of laser navigation technology is also propelling the growth of the AGV forklift market. However, high installation and maintenance costs are restraining the growth of this market. On basis of type, laser navigation systems are expected to hold a dominant position in the global AGV forklift market during 2018-2030 owing to their advantages such as accuracy and reliability over other types of navigation systems.
 Forklift Industry Outlook.svg)
Product Definition:
An Automatic Guided Vehicle (AGV) Forklift is a forklift that is guided by an automatic guidance system, usually a laser or radar, which tells the forklift where it is in relation to its surroundings. AGV Forklifts are used in warehouses and other industrial settings to move goods around without the need for a human operator. This can improve efficiency and safety in the workplace.
Laser Navigation:
Laser navigation is a technology that uses lasers to provide accurate position information. It can be used in AGVs for indoor and outdoor navigation. The system consists of sensors, control unit, communication interface and laser source/ detector. The major use of this technology is in warehouse automation where it helps in moving materials around without any human intervention which makes the process safer for workers as well as material handling equipment operators due to reduced risk of injuries caused by manual handling or contact with objects.
Magnetic Navigation:
Magnetic navigation is a technology used in AGV for moving the forklift truck. It uses magnetic field for sensing and avoiding obstacles. The system consists of sensors, control unit, and software which are mounted on the forklift truck itself or connected to it wirelessly.
Application Insights:
The AGV market is segmented on the basis of application into logistics, manufacturing, and wholesale and retail. The logistics sector accounted for a major share in 2017 owing to the increasing demand for automation in warehousing and distribution centers. The rising adoption of AGVs has enabled logistic companies to reduce labor costs while improving warehouse efficiency. Furthermore, growing emphasis on reducing operating costs by minimizing floor space as well as transportation cost is expected to drive the demand over the forecast period.
The manufacturing sector accounted for a significant share in 2017 owing to increasing industrialization across various developing countries such as China India Japan Brazil etc.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% in terms of revenue owing to increasing investments by AGV manufacturers and adoption of new technologies such as laser, magnetic, and vision-based navigation systems. China has been witnessing rapid growth in manufacturing facilities due to low labor costs coupled with availability of skilled workforce. This factor is anticipated to boost demand for automated guided vehicles across this region over the forecast period.
North America held a significant share in 2017 owing to growing emphasis on safety standards by OSHA (Occupational Safety & Health Administration) along with other government agencies responsible for implementing workplace safety regulations pertaining their respective industries/branches within U.S., Canada, Mexico, etc.).
Growth Factors:
- Increasing demand for AGVs in the automotive and logistics industries
- Growing popularity of AGVs among small and medium-sized businesses
- Advances in autonomous driving technology
- Proliferation of Internet of Things (IoT) devices and big data analytics
- Government initiatives to promote the adoption of AGVs
Scope Of The Report
Report Attributes
Report Details
Report Title
Automatic Guided Vehicle (AGV) Forklift Market Research Report
By Type
Laser Navigation, Magnetic Navigation, Visual Navigation
By Application
Logistics, Manufacturing, Wholesale and Retail
By Companies
Toyota, KION, Mitsubishi Heavy Industries, Hyundai Construction Equipment, Suzhou AGV Robot Co. Ltd., Hangcha, BALYO, BHS Corrugated, Jungheinrich, Comwin, Machinery Technology Development Co., Ltd., Kunming Shipbuilding Equipment Co., Ltd., DS Automotion GmbH, Jaten, Hangzhou Guochen Robot, Yonegy, Scott Transbotics, Hangzhou Lanxin Technology Co.,Ltd., Crown, Meidensha
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
223
Number of Tables & Figures
157
Customization Available
Yes, the report can be customized as per your need.
Global Automatic Guided Vehicle (AGV) Forklift Market Report Segments:
The global Automatic Guided Vehicle (AGV) Forklift market is segmented on the basis of:
Types
Laser Navigation, Magnetic Navigation, Visual Navigation
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Logistics, Manufacturing, Wholesale and Retail
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Toyota
- KION
- Mitsubishi Heavy Industries
- Hyundai Construction Equipment
- Suzhou AGV Robot Co. Ltd.
- Hangcha
- BALYO
- BHS Corrugated
- Jungheinrich
- Comwin
- Machinery Technology Development Co., Ltd.
- Kunming Shipbuilding Equipment Co., Ltd.
- DS Automotion GmbH
- Jaten
- Hangzhou Guochen Robot
- Yonegy
- Scott Transbotics
- Hangzhou Lanxin Technology Co.,Ltd.
- Crown
- Meidensha
 Forklift Market Overview.svg)
Highlights of The Automatic Guided Vehicle (AGV) Forklift Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Laser Navigation
- Magnetic Navigation
- Visual Navigation
- By Application:
- Logistics
- Manufacturing
- Wholesale and Retail
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automatic Guided Vehicle (AGV) Forklift Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Forklift Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An AGV forklift is a type of forklift that uses an automated guidance system to move the load. This system helps the forklift stay in a specific location, avoiding obstacles and ensuring safe operation.
Some of the major companies in the automatic guided vehicle (agv) forklift market are Toyota, KION, Mitsubishi Heavy Industries, Hyundai Construction Equipment, Suzhou AGV Robot Co. Ltd., Hangcha, BALYO, BHS Corrugated, Jungheinrich, Comwin, Machinery Technology Development Co., Ltd., Kunming Shipbuilding Equipment Co., Ltd., DS Automotion GmbH, Jaten, Hangzhou Guochen Robot, Yonegy, Scott Transbotics, Hangzhou Lanxin Technology Co.,Ltd., Crown, Meidensha.
The automatic guided vehicle (agv) forklift market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automatic Guided Vehicle (AGV) Forklift Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automatic Guided Vehicle (AGV) Forklift Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automatic Guided Vehicle (AGV) Forklift Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automatic Guided Vehicle (AGV) Forklift Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automatic Guided Vehicle (AGV) Forklift Market Size & Forecast, 2018-2028
4.5.1 Automatic Guided Vehicle (AGV) Forklift Market Size and Y-o-Y Growth
4.5.2 Automatic Guided Vehicle (AGV) Forklift Market Absolute $ Opportunity
Chapter 5 Global Automatic Guided Vehicle (AGV) Forklift Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Type
5.2.1 Laser Navigation
5.2.2 Magnetic Navigation
5.2.3 Visual Navigation
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Automatic Guided Vehicle (AGV) Forklift Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Applications
6.2.1 Logistics
6.2.2 Manufacturing
6.2.3 Wholesale and Retail
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automatic Guided Vehicle (AGV) Forklift Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Automatic Guided Vehicle (AGV) Forklift Analysis and Forecast
9.1 Introduction
9.2 North America Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Type
9.6.1 Laser Navigation
9.6.2 Magnetic Navigation
9.6.3 Visual Navigation
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Applications
9.10.1 Logistics
9.10.2 Manufacturing
9.10.3 Wholesale and Retail
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Automatic Guided Vehicle (AGV) Forklift Analysis and Forecast
10.1 Introduction
10.2 Europe Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Type
10.6.1 Laser Navigation
10.6.2 Magnetic Navigation
10.6.3 Visual Navigation
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Applications
10.10.1 Logistics
10.10.2 Manufacturing
10.10.3 Wholesale and Retail
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Automatic Guided Vehicle (AGV) Forklift Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Type
11.6.1 Laser Navigation
11.6.2 Magnetic Navigation
11.6.3 Visual Navigation
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Applications
11.10.1 Logistics
11.10.2 Manufacturing
11.10.3 Wholesale and Retail
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Automatic Guided Vehicle (AGV) Forklift Analysis and Forecast
12.1 Introduction
12.2 Latin America Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Type
12.6.1 Laser Navigation
12.6.2 Magnetic Navigation
12.6.3 Visual Navigation
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Applications
12.10.1 Logistics
12.10.2 Manufacturing
12.10.3 Wholesale and Retail
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Automatic Guided Vehicle (AGV) Forklift Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Type
13.6.1 Laser Navigation
13.6.2 Magnetic Navigation
13.6.3 Visual Navigation
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Automatic Guided Vehicle (AGV) Forklift Market Size Forecast by Applications
13.10.1 Logistics
13.10.2 Manufacturing
13.10.3 Wholesale and Retail
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automatic Guided Vehicle (AGV) Forklift Market: Competitive Dashboard
14.2 Global Automatic Guided Vehicle (AGV) Forklift Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Toyota
14.3.2 KION
14.3.3 Mitsubishi Heavy Industries
14.3.4 Hyundai Construction Equipment
14.3.5 Suzhou AGV Robot Co. Ltd.
14.3.6 Hangcha
14.3.7 BALYO
14.3.8 BHS Corrugated
14.3.9 Jungheinrich
14.3.10 Comwin
14.3.11 Machinery Technology Development Co., Ltd.
14.3.12 Kunming Shipbuilding Equipment Co., Ltd.
14.3.13 DS Automotion GmbH
14.3.14 Jaten
14.3.15 Hangzhou Guochen Robot
14.3.16 Yonegy
14.3.17 Scott Transbotics
14.3.18 Hangzhou Lanxin Technology Co.,Ltd.
14.3.19 Crown
14.3.20 Meidensha
