The global automated guided vehicle market has the potential to grow by USD 1.39 billion during 2019-2023, and the market’s growth momentum will accelerate throughout the forecast period.

Theglobalautomated guided vehicle market is expected to grow at a CAGR of 10.11%during the forecast period. Based on products the market has been segmentedinto unit loader carrier, tow vehicle, pallet truck, assembly line vehicle, andothers. 


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Unit load carriers are designed tofunction in industrial environments. They are used to move a high volume ofmaterials. Unit load carriers are mostly used in warehouses, where guided pathsare relatively short, and the high volume of materials are involved. Unit loadcarriers have a considerable demand because of their ability to move more loadscompared with a single fork truck. Premediated electronic activities andmeasures to ensure the safety of workers in warehouses are some of the factorsthat will drive the demand for unit load carriers. 


The popularity of unit load carriersis expected to increase as they can easily interface with conveyors andautomated storage and retrieval systems. Vendors in the market are investingheavily in R&D to increase the load-carrying capacity of unit loadcarriers. These carriers are expected to find new applications in heavyindustry warehouses for raw material handling and equipment movement. Suchinitiatives by automated guided vehicle manufacturers are expected to drive thesegment. 


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