North America Automated Guided Vehicle Market Report and Forecast 2024-2032

North America Automated Guided Vehicle Market Outlook

The North America automated guided vehicle market reached a value of about USD 1.31 billion in 2023 and expected to grow at a CAGR of 11.8% in the forecast period of 2024-2032 to reach a value of approximately USD 3.63 billion by 2032.

Key Takeaways

• The integration of IoT into automated guided vehicles is helping companies predict machine downtime, leading to a shift towards predictive maintenance over traditional preventative maintenance. 

• Slip and fall incidents in the US lead to 95 million lost workdays annually. Automated guided machines can help reduce this number by efficiently completing tasks without human intervention.

• Automated guided vehicles have become increasingly popular in industrial settings as they provide a solution for minimising manual labour, improving worker safety, and increasing the efficiency of operations, driving up the North America automated guided vehicle market share.

The progress in sensor technology, machine learning, and robotics has resulted in the creation of advanced and adaptable automated guided vehicles. These automated guided vehicles are now capable of efficiently manoeuvring through intricate surroundings and executing a broader spectrum of tasks. One of the key areas of progress is sensor technology. Automated guided vehicles are now equipped with a wide range of sensors, including cameras, lidar, ultrasonic sensors, and infrared sensors. These sensors provide automated guided vehicles with the ability to perceive their surroundings in great detail, allowing them to navigate through complex and intricate environments with ease.

As per the North America automated guided vehicle market analysis, laser guidance is expected to lead the market demand. This is because laser navigation technology is easy to install and provides accurate positioning guidance to the vehicle. It also doesn’t require high maintenance costs and has a swift speed of gauging the facilities and equipment in the surrounding environment.

The magnetic navigation technology is also expected to gain widespread popularity as it is easy to modify and its installation does not hamper the productivity of the facility. It provides highly accurate travel routes to vehicles and is relatively inexpensive as well.

The automotive sector is expected to account for a significant North America automated guided vehicle market share. This is because the stamping, welding, painting, and assembling of automobiles require intelligent logistical and transportation capabilities which can be met by automated guided vehicles. Moreover, the automotive sector operates with a high degree of standardisation to ensure consistency in volume and quality of work, which necessitates the demand for automated guided vehicles.

Market Segmentation

North America Automated Guided Vehicle Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Automated Forklift

• Tow Vehicles

• Unit Load Carrier

• Assembly Line Vehicles

• Pallet Truck

• Others

Market Breakup by Navigation Technology

• Laser Guidance

• Magnetic Guidance

• Vision Guidance

• Inductive Guidance

• Others

Market Breakup by End Use

• Retail

• Automotive

• Food and Beverages

• Electrical and Electronics

• General Manufacturing

• Pharmaceutical

• Others

Market Breakup by Country

• United States of America

• Canada

Competitive Landscape

The market players are focusing on technological improvements, incorporating AI and IoT into automated guided vehicles.

• Toyota Industries Corporation

• John Bean Technologies

• Murata Machinery Ltd.

• Seegrid Corporation

• Swisslog Holding AG

• Daifuku Co., Ltd.

• Scott Technology Ltd.

• Schaefer Systems International, Inc.

• Hyster-Yale Group, Inc.

• Oceaneering International, Inc.

• Others

Key Highlights of the Report