Automated Guided Vehicle Market

As per Market Research Future Analysis, the Global Automated Guided Vehicle Market was valued at USD 4692.10 billion in 2024 and is projected to grow to USD 7147.24 billion by 2035, with a CAGR of 3.90% from 2025 to 2035. AGVs are increasingly adopted across various industries to enhance efficiency, reduce labor costs, and improve safety. The market is driven by the rising demand for automation in logistics and warehousing, as well as advancements in navigation technologies. However, challenges such as the high initial costs for SMEs and the growing preference for mobile robots in retail and e-commerce sectors may hinder growth.

Key players include Swisslog Holding AG, Dematic, Bastian Solutions, Daifuku Co., Ltd., JBT, and Seegrid Corporation.

Q2 2024: Seegrid Launches New Palion Tow Tractor for Automated Material Handling Seegrid announced the launch of its new Palion Tow Tractor, expanding its automated guided vehicle portfolio to address growing demand for flexible material handling solutions in manufacturing and warehousing.

Q2 2024: KION Group Signs Multi-Year AGV Supply Contract with Major European Automotive Manufacturer KION Group secured a multi-year contract to supply automated guided vehicles to a leading European automotive manufacturer, marking a significant expansion of its AGV business in the automotive sector.

Q3 2024: Toyota Industries Announces New AGV Production Facility in North America Toyota Industries revealed plans to open a new automated guided vehicle manufacturing facility in the United States, aiming to meet rising demand for automation in logistics and distribution.

Q3 2024: Seegrid Raises $30 Million in Series C Funding to Accelerate AGV Development Seegrid completed a $30 million Series C funding round to support the development of next-generation automated guided vehicles and expand its market presence.

Q4 2024: SSI Schäfer Partners with Exotec to Integrate AGVs into Warehouse Automation Solutions SSI Schäfer announced a strategic partnership with Exotec to integrate automated guided vehicles into its warehouse automation offerings, enhancing operational efficiency for clients.

Q4 2024: Daifuku Wins Major AGV Contract for New Semiconductor Plant in South Korea Daifuku secured a contract to supply automated guided vehicles for a newly constructed semiconductor manufacturing facility in South Korea, supporting advanced material handling requirements.

Q1 2025: Balyo Appoints New CEO to Drive Global AGV Expansion Balyo announced the appointment of a new Chief Executive Officer, tasked with accelerating the company's global expansion in the automated guided vehicle market.

Q1 2025: Murata Machinery Unveils Next-Generation AGV with AI-Powered Navigation Murata Machinery launched a new automated guided vehicle featuring advanced AI-powered navigation, targeting increased adoption in complex warehouse environments.

Q2 2025: Oceaneering International Secures AGV Contract for U.S. Navy Logistics Center Oceaneering International won a contract to deploy automated guided vehicles at a U.S. Navy logistics center, enhancing automated material transport capabilities.

Q2 2025: Hitachi Expands AGV Portfolio with Launch of Lithium-Ion Powered Models Hitachi introduced new lithium-ion powered automated guided vehicles, offering improved energy efficiency and operational flexibility for industrial clients.

Q3 2025: Midea Group Acquires European AGV Startup to Strengthen Logistics Automation Midea Group completed the acquisition of a European AGV startup, aiming to bolster its logistics automation capabilities and expand its footprint in the region.

Q3 2025: John Bean Technologies Wins AGV Deployment Contract for Major U.S. Food Processor John Bean Technologies secured a contract to deploy automated guided vehicles at a major U.S. food processing facility, supporting automated material handling and operational efficiency.