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
|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|
Published: December 17, 2021
Content info: 208 Pages
Delivery time: 1-2 business days
The global ASRS market size 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. The growth of the ASRS market is majorly driven by the growing demand for ASRS in e-commerce due to onset of COVID-19, increasing demand for ASRS in the automotive industry, and need for, optimum utilization of space and rise in labor costs.
The enforcement of social distancing, close down of industrial plants, and other activities in response to the COVID-19 pandemic has led consumers to engage in online shopping. COVID-19 restrictions are expected to increase the adoption of direct-to-consumer grocery and accelerate demand for automated storage and retrieval systems used in e-commerce and retail warehouses during the forecast period though the demand contracted in 2020.
"Unit Load segment expected to account for the largest market size in 2021."
Unit load ASRSs 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. 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 expected to contribute the largest share 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. Thus, automated storage and retrieval systems are increasingly being used to fulfill the requirements related to material handling capacity.
"Europe is projected to hold the largest size of the ASRS market during the forecast period."
The presence of a large number of key players in this region, along with the large customer base, is among the major factors driving the ASRS market in Europe. The region has an exceptionally high labor cost; therefore, manufacturers in European countries have been adopting automated solutions to reduce the overall operational costs. Implementing these solutions helps manufacturers maintain a competitive edge by facilitating efficient management of overall warehousing operations. Furthermore, the presence of large companies with global warehousing and distribution operations, and sustained growth of the e-commerce industry are driving the growth of the ASRS market in Europe.
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.
The ASRS market has been segmented into type, industry, and region. The ASRS market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).