New York, Oct. 21, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “Automated Storage and Retrieval Systems Market (ASRS) Forecast to 2028 – Impact of COVID-19 and Global Analysis by Type (Unit Load ASRS, Mini Load ASRS, Vertical Lift Module, Vertical Carousels, Horizontal Carousels, Auto Store and Others) and End Users (automotive, food & beverage, electronics & semiconductors, e-commerce, chemicals, aerospace, retail, pharmaceuticals and others), geography”, the global Automated Storage and Retrieval System (ASRS) market size was valued at USD 2417.6 million in 2020 and is expected to reach USD 4151.8 million by 2028; it is expected to grow at a CAGR of 6.9% from 2021 to 2028.
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Global Automated Storage and Retrieval System Market assessments, segmentations, regional and country scope:
|Market size Value in||2417.6 million USD in 2020|
|Market Size Value by||4151.8 million USD by 2028|
|Rate of growth||CAGR of 6.9% from 2021 to 2028|
|Year of reference||2021|
|Number of pages||181|
|Number of Tables||71|
|Number of graphs and figures||80|
|Historical data available||Yes|
|Segments Covered||Type and end users, geography|
|Regional scope||North America; Europe; Asia Pacific; Latin America; AEM|
|Country scope||United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report cover||Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends|
Global Automated Storage and Retrieval Systems Market: Competitive Landscape
Key players operating in the global automated storage and retrieval systems market include Bastian Solutions Inc.; Daifuku Co., Ltd. ; KION GROUP AG; Kardex Group; Knapp S.A.; Mecalux, SA; SSI Schaefer Group; Swisslog Holding AG; Spa Logistics System; and Vanderlande Industries.
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The global automated storage and retrieval systems market is segmented into type and end user. Based on type, the market is further categorized into Unit Load ASRS, Mini Load ASRS, Vertical Lift Module, Vertical Carousels, Horizontal Carousels, AutoStore, and others. The vertical lift module segment accounted for the largest share of the overall market. On the basis of end-user, the market is further classified into automotive, electronics & semiconductors, food & beverages, e-commerce, aerospace, chemicals, pharmaceuticals, retail and others. The e-commerce segment accounted for the largest share of the whole.
For example, over 60% of the population in the United States shop online. Additionally, customers expect faster delivery times, thanks to which e-commerce players are embracing automation of their processes. Fluctuations in demand for Stock Keeping Units (SKUs) create complexities in picking operations, which, in turn, slows down the fulfillment process. E-commerce demand is highly variable, so picking areas must be continually adjusted to support fluctuating demand for items. In addition to managing fluctuating SKU demand, an automated storage and retrieval system also advances the fulfillment process, enabling e-commerce as well as omnichannel retailers to better meet service level agreements by respecting the delivery commitments of the orders.
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The development of the e-commerce industry goes hand in hand with the prosperity of the automated storage industry. Inventory sold by e-commerce sellers is stored in warehouses. To reduce the sorting and storage time of these products, the automated storage and retrieval system seems to be one of the best tools. The consumer shopping model is shifting towards online shopping.
APAC Automated Storage and Retrieval Systems Market is expected to grow at the Highest CAGR during the forecast period:
The manufacturing industry in Asia-Pacific countries has seen a huge shift in adopting the solutions adopted over the years. The Asian manufacturing sector is known for rapidly adopting innovations that include robotics as well as emerging cloud and mobility technologies. Over the years, the manufacturing expenditure in the region has increased significantly and is expected to increase further at the highest growth rate. Automated Storage and Retrieval Systems (ASRS) are installed in warehouses at the HCCB plant in Goblej, Gujarat, India. Thus, increasing adoption of ASRS among factories is also influencing the growth of the market.
Additionally, government initiatives such as Make-in-India in India are encouraging the establishment of manufacturing plants in rapidly developing countries. The encouragement of the manufacturing sector is done by the government to make the country self-sufficient first and then export the surplus production. A manufacturing hub requires storage house deployments. Efficient, automated warehouses improve accuracy and save space by stacking products vertically. These factors are fueling the growth of ASRS implementations in the APAC region.
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For example, in March 2021, SSI SCHAEFER GROUP signed a project with CHIRON Werke GmbH & Co KG. The company has signed a project with the CHIRON group for the supply of installation workstations. This system such as pallet racking will bring automation in the logistics centers of the company. Likewise, in 2021 System Logistics Spa carried out a project with PLZENSKY PRAZDROJ AS – MEMBER OF ASAHI BREWERIES EUROPE GROUP. GROUP MEMBER ASAHI BREWERIES EUROPE has installed 16 Maxi AGVs with counterweights with single and double forks for a total capacity of 11,000 pallet spaces and a throughput of 3,900/3,900 IN/OUT pallets/day. Hence, such expansion of ASRS solutions business helps the market to rise in the near future
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