The Europe automated guided vehicles market is expected to grow from US$ 976.66 million in 2021 to US$ 2,371.00 million by 2028; it is estimated to grow at a CAGR of 13.5% from 2021 to 2028.
Recently, the adoption of automated guided vehicle (AGVs) has increased drastically as they are effective and reliable solutions for material handling, which, in turn, increases the production capacity of the industry. These material handling solutions reduce physical damages to goods and boost the efficiency of operations. The overall need for high efficiency in the automotive, healthcare, e-commerce, and food & beverage industries increases the demand for automated material handling. It has enabled the industries to have connected factories with big data and machine learning, resulting in increased automation in the industries. The AGV-enabled automation in industrial facilities can help meet the requirements related to material handling capacity and reduced production time. Moreover, this automation facilitates improved labor management, enhanced safety, high production volumes, and increased accuracy and repeatability by enhancing quality control with flexible manufacturing processes. AGVs enable just-in-time (JIT) delivery of raw material, computerized control of received assembled parts, and tracking of shipped articles. At present, the automotive industries are rapidly adopting automation and AGVs, especially in their production floors. For instance, in Martorell, Spain, the SEAT plant is moving toward digital and smart factory, with which the manufacturers are adopting AGVs with SLAM navigation, 4G connection, and induction battery charging. Till date, the facility adopted eight AGVs for outdoor operation and has over 200 AGVs that deliver parts inside the assembly workshops at the Martorell and Barcelona factories. Thus, growing demand for automation in material handling across industries is likely to increase the adoption of automated guided vehicles during the forecast period across Europe region.
In Europe, the UK got severely affected due to the COVID-19 pandemic. Businesses in the region face severe financial difficulties as they either have to suspend their operations or reduce their activities substantially. Due to business lockdowns, travel bans, and supply chain disruptions, the region faced an economic slowdown in 2020 and 2021. The entire region got negatively impacted by the COVID-19 pandemic, which resulted in the closure of tech giants and many industrial sectors. The closure has obstructed the company’s investment decision on different software. The region is a major manufacturing and industrial hub for various machinery equipment, manufacturing, and logistics sectors. However, the region witnessed a decline in activities due to the restriction imposed by the government. Decline in activities of above-mentioned industries has resulted into lesser development of AGV technologies and systems.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe automated guided vehicles market. The Europe automated guided vehicles market is expected to grow at a good CAGR during the forecast period.
Europe Automated Guided Vehicles Market Revenue and Forecast to 2028 (US$ Million)
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Europe Automated Guided Vehicles Market Segmentation
Europe Automated Guided Vehicles Market – By Technology
- Wired Navigation
- Guide Tape Navigation
- Laser Target Navigation
- Magnetic Navigation
- Others
Europe Automated Guided Vehicles Market – By Type
- Standard
- Hybrid
- Compact
- Others
Europe Automated Guided Vehicles Market – By Vehicle Type
- Pallet Trucks
- Unit Load Carriers
- Driverless Trains
- Forklift Trucks
- Others
Europe Automated Guided Vehicles Market – ByEnd-User
- General Manufacturing
- Food and Beverage
- Aerospace
- Retail
- Healthcare
- Logistics
- Automotive
- Others
Europe Automated Guided Vehicles Market, by Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Automated Guided Vehicles Market - Companies Mentioned
- Balyo SA
- Bastian Solutions, Inc.
- Daifuku Co., Ltd.
- Dematic Group (KION Group AG)
- Hyster-Yale Group, Inc.
- JBT Corporation
- Konecranes Oyj
- Kuka AG
- Lodamaster Group
- SSI SCHAEFER Group
Europe Automated Guided Vehicles Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 976.66 Million |
| Market Size by 2028 | US$ 2,371.00 Million |
| Global CAGR (2021 - 2028) | 13.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
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- Balyo SA
- Bastian Solutions, Inc.
- Daifuku Co., Ltd.
- Dematic Group (KION Group AG)
- Hyster-Yale Group, Inc.
- JBT Corporation
- Konecranes Oyj
- Kuka AG
- Lodamaster Group
- SSI SCHAEFER Group
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