Best 3 AGV Battery Manufacturers 2024
Table of Contents
AGV Market Size
The AGV battery market is growing rapidly. According to Next Move Strategy Consulting, the global market for AGVs is projected to reach $4.8 billion by 2023 and expand further to $8.6 billion by 2030. Insight Partners provides a more optimistic outlook, estimating the market was valued at $4.53 billion in 2022 and expects it to hit $5 billion in 2023, eventually growing to $11.85 billion by 2030 with a compound annual growth rate (CAGR) of 12.7%.
Several factors are driving this growth. One significant driver is the increasing demand for automated guided vehicles (AGVs) in material handling to improve productivity. In 2022, the Asia-Pacific (APAC) region led the market, accounting for 33% of the total market share, valued at $1.5 billion. This trend is expected to continue, with the APAC market projected to reach $5 billion by 2030, driven by a high growth rate of 13.8%. Countries like China, Japan, South Korea, and Indonesia are leading this growth. For instance, China, which contributed $792.14 million in 2022, is expected to reach $2.5 billion by 2030, with the highest CAGR of 15.4%.
Europe is the second-largest market, valued at $1.3 billion in 2022, with a growth rate of 11.8%. It is projected to reach $3.2 billion by 2030, driven by the rise of e-commerce and automated warehouse solutions. Western Europe, in particular, is expected to have a high market concentration due to its significant share in B2C platform revenue.The Importance of AGV Battery to AGVs
Automated Guided Vehicles (AGVs) rely heavily on their AGV battery for efficient operation. Choosing the right battery is crucial because it impacts the performance, reliability, and overall productivity of AGVs.Battery Types Used in AGVsAGVs use various types of batteries, including lead-acid, nickel-metal hydride (NiMH), and lithium-ion battery.- Lead-acid batteries are traditional, cost-effective, and reliable. However, they are heavy, bulky, and require long charging times and maintenance.
- Nickel-metal hydride batteries offer higher energy density and shorter charging times compared to lead-acid batteries. They are also lighter and more environmentally friendly, but they are more expensive and have self-discharge issues.
- Lithium-ion batteries have become the mainstream choice for AGVs. They provide higher energy density, longer lifespan, and greater efficiency. Lithium-ion batteries are also lighter and smaller, making them ideal for AGVs that need to maximize space and minimize weight.
- Communication Protocols: AGV batteries need to communicate with the vehicle’s system. Common protocols include RS485, CANopen, CAN, RS232, Bluetooth, and UART. The choice depends on the specific requirements of the AGV.
- Current Capacity: The battery capacity, ranging from 5Ah to 200Ah, should match the vehicle’s load, travel distance, and operational hours. AGVs often use multiple battery modules in parallel or series to achieve the needed capacity and voltage.
- Voltage: It is essential to match the battery’s rated voltage with the motor’s rated voltage. Typical voltages for AGV batteries include 24V, 48V, and 72V. The full-charge voltage should not exceed the maximum voltage that the AGV can handle.
Best AGV Battery Manufacturers
EnerSys
EnerSys is a top global provider of stored energy solutions, based in the USA. They specialize in batteries for industrial applications, including AGV battery systems. EnerSys offers a variety of batteries, with lithium-ion battery options being among their most advanced products designed specifically for the rigorous demands of AGVs.In the fiscal year 2023, EnerSys achieved record net sales of $3.7 billion, a 10% increase from the previous year. Their operating profit reached $278 million, up 35%, and adjusted operating profit was $322 million, up 22%. These numbers highlight the strong demand for their products and the company’s ability to meet market needs effectively.EnerSys's lithium-ion battery technology stands out due to its high energy density, long life cycles, and low maintenance needs. These features are crucial for AGVs, which require reliable and efficient power sources to operate continuously and effectively. Lithium-ion batteries are lighter and more compact than traditional batteries, making them ideal for AGVs that need to maximize space and minimize weight.In the fourth quarter of the fiscal year 2023, EnerSys reported net sales of $990 million, an increase of 9% from the previous year. Their operating profit for the quarter was $95 million, up 114%, and adjusted operating profit was $107 million, up 60%. This strong financial performance indicates EnerSys's robust market position and the high quality of their energy solutions.EnerSys also emphasizes sustainability. In 2022, they reported a 4% reduction in global greenhouse gas emissions compared to 2021. This commitment to sustainability is reflected in their product development and operational practices.Additionally, EnerSys's backlog of orders stood at $1.3 billion, although slightly reduced by 7%, it remains double the pre-pandemic levels. This steady demand underscores the reliability and efficiency of their battery solutions. Their diluted earnings per share (EPS) hit a record $1.59, up 137%, with an adjusted diluted EPS of $1.82, up 52%.EnerSys's focus on advanced lithium battery technology and their commitment to sustainability make them a leader in the AGV battery market. Their strong financial performance and continuous innovation ensure they remain at the forefront of the industry, providing reliable and efficient power solutions for AGVs globally.In summary, EnerSys is a leading lithium battery manufacturer that offers high-quality, reliable, and efficient energy solutions for AGVs. Their advanced lithium-ion battery technology, strong market presence, and commitment to sustainability make them one of the best AGV battery manufacturers in the industry.
Exide Technologies
Exide Technologies, founded in 1888, is one of the largest manufacturers of lead-acid batteries in the world. Headquartered in the USA, Exide provides energy storage solutions to over 100 countries. Their wide range of batteries includes options specifically designed for Automated Guided Vehicles (AGVs).Exide Technologies offers both lead-acid and lithium-ion batteries. Their lithium-ion batteries are well-suited for AGVs due to their high energy density, longer lifespan, and efficiency. These batteries help AGVs operate more efficiently, reducing downtime and maintenance needs. Lead-acid batteries, while more traditional, are also a reliable and cost-effective option, especially in applications where weight and size are less critical.In 2008, Exide Technologies reported annual sales of approximately $4 billion, showcasing their significant market presence. They have a strong global footprint, with operations in over 14 countries and 43 production facilities. Their Asia-Pacific headquarters is located in Shanghai, China, with additional facilities in Australia, New Zealand, and India.Exide’s products are used in various industries, including transportation, power supply, network power, and military applications. Their well-known brands, such as GNB and Sonnenschein®, enjoy a long-standing reputation for quality and reliability.For AGVs, Exide’s batteries provide the necessary power and reliability to ensure smooth and efficient operation. Their lithium-ion batteries are particularly beneficial for automated material handling equipment, offering fast charging times and long service life, which are crucial for minimizing downtime and maximizing productivity in industrial settings.In conclusion, Exide Technologies stands out as a top manufacturer of AGV batteries, offering a range of solutions that meet the diverse needs of industrial applications. Their extensive experience, global reach, and commitment to quality make them a trusted name in the industry.
