According to the new market research report "Automated Storage and Retrieval System (ASRS) Market with COVID-19 Impact Analysis by Type (Unit Load, Mini Load, VLM, Carousel, Mid Load), Industry, and Region (North America, Europe, APAC, RoW) - Global Forecast to 2026"is projected to grow from USD 7.8 billion in 2021 to USD 11.0 billion by 2026 at CAGR of 7.2% during the forecast period. Several recent ASRS systems used in warehouses are automated, flexible and offer greater efficiency. Automation is becoming key to growing adoption of ASRS. The conventional ASRS used to be described as cranes and case shuttles however, the recent state of art ASRS are all about autonomous vehicles, pallet shuttle systems and modular racking systems. The growth of the ASRS market is majorly driven by growing demand for ASRS in e-commerce due to onset of COVID-19, increasing demand for ASRS in the automotive industry, need for, optimum utilization of space and rise in labor costs.
Browse 187 market data Tables and 56 Figures spread through 213 Pages and in-depth TOC on "Automated Storage and Retrieval System (ASRS) Market with COVID-19 Impact Analysis by Type (Unit Load, Mini Load, VLM, Carousel, Mid Load), Industry, and Region (North America, Europe, APAC, RoW) - Global Forecast to 2026"
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Unit load ASRS held the largest share of the ASRS market in 2020.
Unit load ASRS are used for storing large size articles and also provide real-time information on inventory making them more preferable type in several industries compared to other types of ASRS. Moreover, unit load ASRS is a high-density heavy payload ASRS that enables accurate, efficient, safe, and stable handling of full pallets. They reduce work-in-progress (WIP) inventory; provide real-time inventory control; improve product quality and productivity; enhance workforce productivity; improve order accuracy and customer services; and ensure high throughput, density storage, and reliability, along with damage-free operations. The market growth is also supported by their wide range of applications in consumer goods, automotive, electronics, food & beverages, pharmaceuticals & medical supplies, and retail & apparel industries.
Automotive industry to account for the largest size of ASRS market in 2021.
The shift in demand toward electric vehicles and autonomous vehicles has prompted automakers to ramp up automotive manufacturing, which requires automotive spare parts. Automotive suppliers must effectively manage large amounts of goods and variation and breadth of stock. Also, these suppliers need to improve the storage capacity within the available floor space. The main purpose of ASRSs in the automotive industry is to support raw material handling and moving spare parts and goods to manufacturing units and warehouses. ASRSs also provide the industry with better conveyor systems for automotive assembly plants reducing workers’ load and enabling easy movement of heavy parts and high volume of applications performed. Thus, automated storage and retrieval systems are increasingly being used to fulfill the requirements related to material handling capacity.
APAC is expected to grow at the highest CAGR from 2021–2026.
The ASRS market for APAC is expected to grow at the highest CAGR during the forecast period. The rapid growth of automotive, food & beverages, and healthcare industries in emerging economies such as China, Japan, Australia, and South Korea has contributed to the growth of the ASRS market in APAC. Moreover, governments in APAC countries are increasingly emphasizing on safety and security on production floors, which can be best achieved by the implementation of ASRSs. The ASRS market is witnessing rapid growth in countries such as China and Japan owing to increasing investments by manufacturers and suppliers in the installation of these systems at warehouses and distribution centers. China is a major manufacturing hub for electronics parts, and various developing countries in the Asia Pacific region rely on China for electronic goods. The country has set up various electronics manufacturing units across the country, which gives rise to the demand for efficient warehousing of electronics parts. Consequently, ASRS witness huge demand from warehouses to keep track of inventory, storage, and distribution.
Daifuku (Japan), Kardex (Switzerland), Murata Machinery (Japan), SSI Schaefer (Germany), TGW Logistics (Austria), KION (Germany), KUKA (Germany) are some of the major players in ASRS market
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