Summary
Objective
The objective of the Automated Guided Vehicle (AGV) market's competitive analysis is to evaluate the market positioning and core competencies of leading players. By benchmarking their latest innovations, the analysis aims to highlight how differentiation and product differentiation strategies contribute to their competitive advantage. Additionally, the review of market share and market penetration seeks to understand how strategic alliances and entry barriers influence industry rivalry and shape growth prospects. This assessment also focuses on value propositions and the impact of innovation to provide comprehensive competitive intelligence on the threats and opportunities within the automated guided vehicle market.
Scope
The competitive landscape of the Automated Guided Vehicle (AGV) market offers a deep dive into the leading industry players, spotlighting their cutting-edge innovations and strategic market positioning. This analysis encompasses detailed company profiles, highlighting their competitive strengths and contributions to the industry. Additionally, the scope covers recent technological advancements and identifies potential growth opportunities within the AGV sector, providing a comprehensive view of the market dynamics and future prospects.
Summary
The Automated Guided Vehicle Market size was valued at USD 2.43 Billion in 2023 and the total Automated Guided Vehicle Market revenue is expected to grow at a CAGR of 7.15% from 2024 to 2030, reaching nearly USD 3.94 Billion.
The Automated Guided Vehicle (AGV) market is highly competitive, with major players like Toyota Material Handling, JBT Corporation, Daifuku Co., Ltd., and E&K Automation GmbH leading the industry. Toyota Material Handling leads the market, driven by its robust production capabilities, extensive distribution channels, and strategic innovations like the launch of automated horizontal carriers and advanced safety systems, which have bolstered its dominance with a 29% increase in unit sales in fiscal 2023. JBT Corporation and Daifuku Co., Ltd. are strong followers, focusing on technological advancements and increasing their product lines. JBT Corporation has emphasized enhancing its AGV offerings to meet diverse industry needs, while Daifuku's commitment to automation and integration of advanced technologies into its AGV systems has strengthened its competitive position. E&K Automation GmbH, although smaller in scale, has carved a niche by specializing in tailored AGV solutions, leveraging precision engineering and customization to attract specific market segments. New entrants are also emerging, targeting specialized applications with innovative AGV solutions, but they face challenges in competing with the established production and distribution networks of market leaders. The competitive landscape remains dynamic, with leaders like Toyota setting the pace, followers like JBT and Daifuku pushing technological boundaries, and new entrants seeking differentiation through innovation.
JBT Corporation
The food processing and aviation industries are served by JBT Corporation, a well-known global manufacturer of technological solutions, especially in the automated guided vehicle (AGV) market. As a pioneer in the development and delivery of highly customizable AGVs, such as pallet trucks, tow tractors, and forklifts, JBT has a long and illustrious history that dates back to 1884. With the use of cutting-edge sensors, controllers, and software, these AGVs are made to maximize material transport in a variety of settings, including distribution centers and facilities that process food. JBT's automated guided vehicles (AGVs) boost client productivity, cut labor costs, and optimize the supply chain. JBT guarantees that their AGV solutions are customized to match the unique needs of each customer by providing extensive services that include system design, engineering, installation, and maintenance. As a reliable partner for businesses looking to deploy state-of-the-art AGV systems, JBT Corporation is distinguished by its extensive experience in food processing automation, strong worldwide presence, and dedication to innovation.
Daifuku Co., Ltd.
Daifuku Co., Ltd. demonstrates significant expertise in automated guided vehicles (AGVs), offering both standard and customized solutions that enhance productivity, reduce operating costs, and improve ergonomics across various industries such as automotive, distribution, and manufacturing. As of 2022, the company has sold over 14,000 AGVs since entering the market in 1961, securing its leadership in this segment. In North America, sales rose by 10.7% to 175,795 million yen, with segment income increasing by 79.6% to 11,108 million yen, driven by strong orders in intralogistics systems. The recent completion of a new manufacturing plant in Boyne City, Michigan, has centralized production, boosting capacity by 30%, and streamlining operations by integrating previously dispersed manufacturing sites. Additionally, Daifuku's focus on innovative navigation technologies, such as SmartCart Magnetic Tape/Bar Guidance and Natural Feature Navigation, highlights its commitment to advancing AGV capabilities in complex manufacturing environments.
Toyota Material Handling
Toyota Material Handling has firmly established itself in the Automated Guided Vehicle (AGV) market, offering advanced and customizable automation solutions that enhance efficiency and reduce labor costs. In fiscal 2023, the company saw a 29% increase in combined unit sales of the TOYOTA and RAYMOND brands, reaching 98,000 units. This growth was fueled by strong demand in e-commerce and retail sectors, as well as the launch of new products, including an operator assist system for enhanced safety and new electric lift trucks. Additionally, Toyota responded to labor shortages by introducing an automated horizontal carrier AGV that integrates with autonomous lift trucks and warehouse management systems, boosting logistics efficiency. The company's focus on electrification and sustainability is evident in its growth of lithium-ion battery-equipped products and its achievement of 100% renewable energy use at all European bases in 2022, a first in the material handling equipment industry.
Recent Development
• On June 29, 2023, Dematic launched its third-generation freezer-rated Automated Guided Vehicles (AGVs) in Sydney, Australia. These advanced AGVs feature enhanced sensor and navigation technology, meeting the latest global safety standards. Designed to operate in temperatures as low as -25°C, these AGVs address occupational health risks associated with cold storage by eliminating the need for human presence in harsh environments. With upgrades such as a 360° safety scanning system, emergency stop buttons, and redundant safety features, Dematic’s AGVs comply with the updated Australian Standard AS 5144-4 and set a new benchmark in AGV safety and performance.
• On May 5, 2024, Caster Concepts is expected to highlight its advancements in Automated Guided Vehicle (AGV) technology at Automate 2024 in Chicago. The Michigan-based company will showcase its customized casters designed to enhance AGV performance. Key demonstrations include the TWERGO AGV casters, which have achieved 55% lower starting forces and over 50% increased battery runtime for heavy-duty applications. Additionally, Caster Concepts is expected to introduce the TWERGO Xtreme Casters for high-capacity applications. This event underscores the company's commitment to optimizing AGV design and performance through innovative mobility solutions.
• On April 20, 2024, Align Production Systems announced a strategic partnership with Kollmorgen to advance Automated Guided Vehicle (AGV) technology. This collaboration combines Align Production Systems' expertise in AGV design with Kollmorgen's automation control platform, NDC Solutions, aiming to enhance efficiency, reliability, and versatility in manufacturing AGVs. Jason Stoecker, CEO of Align Production Systems, highlighted the partnership as a significant step toward revolutionizing heavy industry automation.
Table of Content
1. Automated Guided Vehicle Market Competition Matrix
1.1. Market Structure
1.2. Market Leaders
1.3. Market Followers
1.4. Emerging Players
2. Competitive Benchmarking of key players
3. Mergers and Acquisition in Automated Guided Vehicle Market from 2018 to 2024
4. Automated Guided Vehicle Market Company Profile: Key Players
4.1. Daifuku.
4.1.1. Company Overview
4.1.2. Business Portfolio
4.1.3. Financial Overview
4.1.4. SWOT Analysis
4.1.5. Strategic Analysis
4.1.6. Awards Received by the Firm
4.2. Toyota Material Handling
4.3. KUKA AG.
4.4. Hyster-Yale Materials Handling
4.5. Seegrid Corporation
4.6. Kollmorgen
4.7. Bastian Solutions
4.8. America In Motion, Inc. -
4.9. Rockwell Automation, Inc
4.10. Doerfer Corporation
4.11. KMH Systems, Inc.
4.12. Oceaneering AGV Systems
4.13. SSI Schaefer AG
4.14. E&K Automation GMBH
4.15. Egemin Automation Inc
4.16. Balyo Inc.
4.17. Swisslog Holding
4.18. Frog AGV Systems B.V.
4.19. Dematic GMBH & Co. KG
4.20. ABB Ltd.
4.21. Mitsubishi Corporation
4.22. Others Key Players
5. Key Findings
