Automated Guided Cart Market

Automated Guided Cart Market Growth Outlook (2022-2032)

The global automated guided cart market is set to enjoy a valuation of US$ 208.7 million in 2022 and further expand at a CAGR of 8.3% to reach US$ 462.7 million by the end of 2032.

Sales of automated guided carts (AGCs) accounted for over 6% share of the global automated guided vehicle market at the end of 2021.

Report Attributes	Details
Market Size in 2021	US$ 194.4 million
Market Value in 2022	US$ 208.7 million
Forecasted Market Value (2032F)	US$ 462.7 million
Global Market Growth Rate (2022-2032)	8.3% CAGR
North America Market Share (2021)	~21.2%
East Asia Market Growth Rate (2022-2032)	~7.8% CAGR
United States Market Growth Rate (2022-2032)	~9.9% CAGR
Market Share of Top 5 Companies	~28.2%
Key Companies Profiled	Addverb Technologies Private Limited America in Motion (AIM) Asti Mobile Robotics BALYO Bastian Solutions, LLC Creform Crown Equipment Corporation Daifuku Co. Ltd ELETTRIC80 S.P.A. Fetch Robotics, Inc GreyOrange Hitech Robotic Systemz ltd inVia Robotics, Inc Kollmorgen KUKA AG Meidensha Corporation MIR Oceaneering International Inc Safelog Schaefer Systems International, Inc Shenzhen Casun Intellingent Robot Co Ltd SIMPLEX ROBOTICS Swisslog Holding AG System Logistics Spa Teradyne, Inc Toyota Industries Corporation

Sales Analysis of Automated Guided Carts (2017-2021) Vs. Market Forecasts (2022-2032)

Manufacturing companies will continue to see a rise in the use of automated guided carts due to increased industry vertical competition. Major players are being forced to employ autonomous guided carts that boost the effectiveness of operations in material handling as a result of disruptive products from new entrants and small- to medium-sized players.

There is a chance to realize the promise of greater productivity, transparency, and efficiency with the integration of automated guided vehicles.

• Short Term (2022 Q2 to 2025): Augmenting utilization and integration of AGCs in material handling to positively impact market growth.
• Medium Term (2025-2028): North America and East Asia anticipated to witness high demand for automated guided carts with rising logistics & warehouse industry.
• Long Term (2028-2032): Increasing automation in material handling processes and mounting e-Commerce industry to drive automated guided cart demand.

Over the 2017-2021 period, global demand for automated guided carts registered a CAGR of 2.3%. According to Fact.MR, a market research and competitive intelligence provider, the global market is projected to exhibit growth at 8.3% CAGR through 2032.

Market share analysis of automated guided carts based on end-use industry and region is provided in the above image. Automotive end-use industry to dominate with 23.7% market share in 2022.

What’s Driving Demand Growth for Automated Guided Carts?

“Surging Retail & e-commerce Industry to Fuel Demand for Automated Guided Carts”

Due to rising demand for connected systems, improved e-Commerce platforms, and major retail sector digitalization, e-Commerce has seen tremendous growth on a global scale.

AGCs are widely used because of their advantages and product attributes, including lower labor costs, less product damage, more productivity, and scale to enable automation operations. These significant benefits are motivating logistics and transportation companies to use AGCs to increase the effectiveness of their operations.

To change the material handling sector, telecom providers are engaging with retailers and other logistics-related businesses. Through cooperation, customers would receive a safe and adaptable autonomous mobile robotic solution for integrated material handling.

Owing to the aforementioned factors, the market for automated guided carts is expected to showcase 2.2X growth over the forecast period.

“Increase in High-end Technology of AGCs to Push Sales in the Market”

The most basic sort of automated guided vehicle (AGV), having the fewest functions, is an automatic guided cart (AGC). For power and steering, a magnetic tape-based system offers a more adaptable option with less plant infrastructure. These are now manufactured to rule intralogistics processes for factory automation.

The industrial manufacturing sector has a lot of promise for using these little masters of logistics on wheels to handle massive production volumes, numerous small production stages, unpredictable processes, and production environments with a high level of security.

AGCs typically use magnetic or optical tape guidance to move between production lines according to a pre-established route network. AGCs are still being developed with specific customizable functions, which will bring them in the competition with other material handling equipment, further leading to significant demand growth and installation.

“Increase in Research & Development Activities in This Space”

Automated guided carts are most widely utilized in industrial manufacturing where it is necessary to move heavy materials back and forth within a facility. AGCs are already very advanced, but the addition of cutting-edge technologies such as machine learning and AI is further enhancing their capabilities and accelerating market growth.

The reliability and productivity of manufacturing are increased by an ideal material flow. AGCs are also called an underride, platform, lurking AGV, under cart AGV, AGV transfer cart, or tunnel type AGV. Industrial robots and AGCs will be able to outperform humans in a variety of environments, potentially reducing human error.

This enables flawless deployment and optimal performance during material handling. Thereby, demand for automated guided carts is set to create an absolute dollar opportunity of US$ 268 million over the decade.

Country-wise Insights

What is the U.S. for Automated Guided Cart Market Scenario?

The United States automated guided cart market is currently estimated at US$ 37.1 million and is expected to reach US$ 103.5 million by 2032.

The United States dominates the market as it has huge investments in the retail and e-Commerce industry. Growing adoption in industrial automation is enhancing the efficiency in the manufacturing and processing sectors.

Along with the significant growth of the retail and e-Commerce sector, warehouse storage expansion is another primary driver for the U.S. market.

• In 2019, around 29,500 AGV systems were deployed in North America, and automated guided vehicle systems were frequently used in the logistics and warehouse industry.

Because of its strong economy, dynamic e-Commerce sector, and large number of market players operating in the country, the United States will hold significant potential for automated guided cart sales over the coming years.

Why is the China Automated Guided Cart Market Expected to Be Highly Lucrative?

China is expected to be the highest contributor to the automated guided cart market and reach a valuation of US$ 113.4 million by 2032.

• In 2019, around 41,000 AGV systems were deployed in China while manufacturing transformation, digitalization, and more flexible demand in recent years has been conducive to AGC market expansion.

Digital factory is a new concept that requires high-stability robots, and AGC use in the scenario will create new avenues for revenue generation.

In China, local manufacturers dominate with a significant market share by value. This is attributable to the country's manufacturing capabilities and its unwavering commitment to incorporating high-end technologies in factories, thereby driving significant growth of the automated guided cart industry in the country.

Category-wise Insights

Will Logistics & Warehousing Create Additional Revenue Generation Opportunities?

Prominent industrial verticals are on the verge of integrating their supply chain logistics and warehousing to connected networks. To increase operational efficiencies, end users are developing automated systems where the role of automated guided vehicles is proven to be significant.

Logistics and warehousing involve high volume transaction of goods and micro-moments across facilities. Integration of automated guided carts for warehousing and logistics operations has witnessed significant growth at 9.7% CAGR and is expected to reach a market valuation of US$ 38.3 million in 2022.

Which Navigation Type of Automated Guided Carts are Highly Preferred?

Smart automated guided carts deliver materials and take products away from the robotic work cell. They are routed by magnetic tape guidance. A magnetic tape guidance sensor on board the AGC helps determine the magnetic path and relays information to the card control unit (CCU), thereby maintaining the position of the AGC over the tape.

Magnetic tape guidance is widely used in material handling processes owing to its operational feasibility and easy handling aspects. Additionally, adjustments to the routed plan are made quickly and there are no delays, lags, or noise, leading to streamlined operations on the floor.

In large-scale facilities and installations with a high number of track lanes, magnetic tape cost increases with the installation cost. Thus, the adoption of magnetic tape guidance AGCs has increased steadily, surpassing a market valuation of US$ 52.2 million in 2021.

Furthermore, with the expanding global AGV market, demand for magnetic tape guidance AGCs predicted to expand at a CAGR of 7.7% through 2032.

Competitive Landscape

Prominent automated guided cart manufacturers are Addverb Technologies Private Limited, America in Motion (AIM), Asti Mobile Robotics, BALYO, Bastian Solutions LLC, Creform, Crown Equipment Corporation, Daifuku Co. Ltd, ELETTRIC80 SPA, Fetch Robotics Inc, GreyOrange, Hitech Robotic Systemz ltd, inVia Robotics, Inc, Kollmorgen, KUKA AG, Meidensha Corporation, MIR, Oceaneering International Inc, Safelog, Schaefer Systems International Inc, Shenzhen Casun Intellingent Robot Co Ltd, SIMPLEX ROBOTICS, Swisslog Holding AG, System Logistics Spa, Teradyne Inc, and Toyota Industries Corporation.

Manufacturers of automated guided carts are trying to adopt newer technologies to stay at the top of the competition. Key manufacturers are focusing on inventing new solutions for packaging and shifting the storage, enhancement of safety & comfort, creativity and productivity of products, and much more.

Strategic alliances, product launches, acquisitions, partnerships, capacity expansion, etc., are all being witnessed in this space.

• In March 2022, Swisslog Holding and Berkshire Grey entered into a partnership, which will bring AI-enabled robotic solutions to global warehouse operations. This partnership will provide both enterprises with distribution, e-Commerce, and store automation solutions to maximize labor productivity and increase order fulfillment.

Fact.MR has provided detailed information about the price points of key manufacturers of automated guided carts positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Market Research

• By Towing Capacity :

  • Below 1000 lbs
  • 1000-2000 lbs
  • 2000-3000 lbs
  • 3000-4000 lbs
  • Above 4000 lbs

• By Navigation Type :

  • Inductive Guidance
  • Laser Guidance
  • Magnetic Tape Guidance
  • Optical Tape Guidance
  • Vision Guidance

• By Travel Speed :

  • Below 100 fpm
  • 100-200 fpm
  • 200-300 fpm
  • Above 300 fpm

• By Direction :

  • Uni-Directional
  • Bi-Directional
  • Omnidirectional

• By End-use Industry :

  • Aerospace & Defence
  • Automotive
  • Food & beverages
  • Healthcare & Hospitals
  • Industrial Manufacturing
  • Logistics & Warehouses
  • Retail & e-Commerce
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA