Motor for AGV Market size was valued at USD 1.2 Billion in 2024 and is projected to reach USD 2.5 Billion by 2033, exhibiting a CAGR of 8.9% from 2026 to 2033.
In 2023, the global Motor for AGV (Automated Guided Vehicle) market was valued at USD 1.6 billion and is projected to reach USD 2.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.6% during the forecast period. Regionally, the Asia Pacific segment is anticipated to reach USD 3.2961 billion by 2030, exhibiting the highest CAGR of 12.20%. In North America, the AGV market was valued at USD 1.3404 billion in 2021 and is expected to reach USD 2.2325 billion by 2030. Europes AGV market was valued at USD 1.1840 billion in 2020, with projections to reach USD 2.3693 billion by 2030. These figures underscore the rapid expansion and significant investment in AGV technologies across these regions. The increasing adoption of automation in material handling and logistics operations is a primary driver for the growth of the Motor for AGV market. Technological advancements in motor efficiency, integration with artificial intelligence, and enhanced sensor technologies are further propelling market expansion. Opportunities abound in developing compact, energy efficient motors that offer high performance, as well as in integrating advanced features like autonomous navigation and obstacle avoidance. Additionally, the emphasis on energy efficiency and sustainability is encouraging the development of motors with regenerative braking systems and other energy saving features, aligning with the broader industry trends towards greener solutions.
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Nidec Motion Control
ElectroCraft
Brother
Oriental Motor USA Corp
Wittenstein Group
AMK Automation
Changzhou ZGC Mechanical and Electrical Co.
Ltd
Transcyko
Nanotec Electronic GmbH
Franz Morat Group
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Motor for AGV Market
Unit Load AGVs
Tow Vehicles
Forklift AGVs
Pallet Trucks AGVs
Automated Forklifts
Laser-guided AGVs
Magnetic guidance AGVs
Vision-based AGVs
Inertial Navigation AGVs
Wi-Fi Navigation AGVs
Manufacturing
Healthcare and Pharmaceuticals
Retail and E-commerce
Aerospace
Food and Beverage
Lightweight AGVs (up to 500 kg)
Medium-weight AGVs (500 kg - 1500 kg)
Heavy-duty AGVs (1500 kg and above)
Standalone Systems
Cloud-based Systems
Integrated Fleet Management Systems
Remote Monitoring Systems
Real-time Data Analytics Systems
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Motor for AGV Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Motor for AGV Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Motor for AGV Market, By Type
6. Global Motor for AGV Market, By Application
7. Global Motor for AGV Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Motor for AGV Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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