The North American AGV market was valued at USD 1205.3 million in 2020 and is expected to reach USD 2675.34 Million in 2026, registering a CAGR of 14.47%, over the forecast period (2021-2026). Automated guided vehicle technology is providing manufacturers in North America with many prominent and measurable benefits, such as decreased operating costs and increased throughput of materials, but they can extend further. Optimizing the first-mile using material handling automation is improving company profitability and customer satisfaction throughout warehouses in North America.

- The region’s strong industrial activity to meet its export demands and the strengthening e-commerce market are expected to provide the anticipated boost to the North American market during the next five years.
- Planning based on requirements has become a major concern among all the end-user industries. Further, as the North American market is one of the first markets to adopt AGVs in their production environments and warehouses, the general demand for new units is expected to grow at a slower pace when compared to rest of the world. Also, increasing substitutes, such as autonomous mobile robots are expected to gain considerable significance in the market, effecting the AGV sales.

Key Market Trends

Retail and Warehousing to hold Major Share

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- Automation has gained specific importance to improve the customer-fulfillment side of operations, particularly for retail and e-commerce, especially due to longer onboarding and training, rising benefit and compensation rates, and shortages in labor.
- A type gaining popularity has been the AGV used in sortation called the t-Sort (unit load AGV), a new material handling system used for both unit and parcel sortation. It performs much like a traditional automated sortation system, such as a tilt tray or crossbelt sorter.

- The strong pharmaceutical industry has also been a significant driver for the AGV market as they hold a significant share of the warehousing sector. According to a study conducted by the Mayo Clinic, seven out of 10 people in the United States take at least one prescription drug. This creates a great need to preserve the quality of medicines from production to consumption.
- This has boosted the demand for pharmaceutical warehousing, immensely in the region. Pharmaceutical warehousing often uses temperature controlled spaces to preserve the quality of the drug throughout its storage phase.

United States to Hold Major Share

- The United States is the most dominant economy in North America. The region’s manufacturing sector, which is a huge source of demand for the AGV market hinges on the dominant US economy, which accounts for 82% of the region’s economic output.
- The country also has a high trading profile, especially with neighboring countries like Canada and Mexico. In fact, the United States is by far the largest trading partner for both Mexico and Canada, accounting for almost 80% of each country’s exports.
- With such high import and export activity in the country coupled with the highly active e-commerce sector, the need for warehouse space in the country has grown over the past few years.
- Further, the commercial developers and builders constructed about 183 million square feet of new warehousing space, compared with about 100 million new square feet of space each year over the past decade.
- This has created a competitive environment among all the logistics players in the country, encouraging them to either increase their warehouse establishments or increase the efficiency of current warehouses establishments by automating the operations.

Competitive Landscape

The North America Automated Guided Vehicle market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.

- September 2018 - Seegrid Corporation added self-driving vehicles for materials handling for manufacturing, distribution, and e-commerce companies. It has the ability to load and unload pallets autonomously. The tow tractor removes the need for human assistance to complete tasks, freeing up companies to deploy employees to more value-added roles.
- May 2018 - Bastian Solutions launched five new technologies which include tugger AGV with natural features navigation, IoT asset tracking, robotic truck loading, and unloading, augmented reality picking, and ROGUE composite pallets.

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