Automated Storage and Retrieval System (ASRS) Market: Current Analysis and Forecast (2021-2027)

The Global Automated Storage and Retrieval System is Expected to Display a CAGR of around 9% over the forecast period (2021-2027)

Booming industries such as food and beverages, pharma, automotive, aerospace, etc., coupled with the promulgating of automation in industries and the booming era of connected industries are leading to the growing market for automated storage and retrieval system. As per OICA, America reports a 20% share of the global production with 15.7 million units.

A rise in the manufacturing and industrial sectors across the globe is leading to the growing demand for automated storage and retravel systems due to the benefits such as Increase throughput and efficiency, high-density storage, accurate, real-time inventory data, eliminate damaged or missing inventory, reduce travel between operations for improved order cycle time, etc., As per United Nations Industrial Development Organization, after COVID-19 Most countries saw a recovery in manufacturing in the third quarter of 2020, after the collapse experienced in the first half of the year due to the COVID-19 pandemic. China had already returned to growth in the previous quarter and has now exceeded its pre-crisis manufacturing production level. Nonetheless, updated UNIDO forecasts anticipate an unprecedented decline in global manufacturing of 8.7% for 2020. Moreover, the global economy witnessed a 4.3% contraction in 2020, however, the economy is expected to expand by 4% in 2021, as revealed by the world bank. These all factors would be demand drivers for the automated storage and retrieval system in the forecasted years.

Moreover, the promulgating e-commerce sector in the region is resulting in the growing number of the warehouses in united states and Canada. The USA is one of the world's largest e-commerce markets, with online sales representing close to 20% of all retail sales. As per the Census Bureau of the Department of Commerce, the U.S. retail e-commerce sales for the fourth quarter of 2021, was US$218.5 billion, an increase of 1.7% from the third quarter of 2021. Moreover, the fourth quarter of 2021 e-commerce estimate increased 9.4% from the fourth quarter of 2020

Daifuku Co., Ltd., Murata Machinery, Dematic GmbH & Co. KG, Vanderlande Industries, TGW Logistics Group, System Logistics Spa, Westfalia Technologies, Inc., Honeywell Intelligrated, Swisslog Holding AG, Invata Intralogistics, Inc., etc., are some of the prominent players operating in the Automated Storage and Retrieval System market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with innovative products.

Insights Presented in the Report

"Amongst type, unit load segment grabbed major market share"

Based on the type, the market is fragmented into Mid Load, Mini Load, Unit Load, Vertical Lift Module, and Others. The unit load segment grabbed the major market share in 2020 and dominated the market. The segment gathered USD XX Mn in 2020. Growing demand to encounter shipping deadlines during peak times is one of the prominent reasons for the segment growth as unit-load AS/RS is used for large loads such as handling full pallets or cases of items. Unit-load AS/RS handle the big jobs that may require moving objects or pallets that weigh a few thousand pounds

"Amongst function, storage segment to grab considerable market share"

Based on the function, the market is fragmented into Assembly, Distribution, Kitting, Order Picking, Storage, and Others. The storage segment grabbed XX% market share. The market of this segment would reach USD XX Mn by 2027. rising need for precise and fast storage systems, consistently growing order volume through online channels and the booming e-commerce sector are some of the driving factors of this segment

"Amongst industry vertical, automotive segment to grab considerable market share"

Based on the industry verticals, the market is fragmented into Aviation, Automotive, Chemicals, Retail & E-Commerce, Food & Beverages, Healthcare & Pharmaceuticals, and Others. The automotive segment grabbed XX% market share and captured USD XX Mn market in 2020. Continuous advancement in the automotive sector coupled with the rapid adoption of the electric vehicle is leading to the growth of this segment. However, the food & beverage segment would witness a robust CAGR during the forthcoming years

"Europe represents one of the largest markets of Automated Storage and Retrieval System market"

For a better understanding of the market adoption of the Electrostatic Discharge (ESD) Packaging Market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Europe region grabbed XX% market for the automated storage and retrieval system industry and generated revenue of USD XX Million in 2020. However, the Asia-Pacific region would witness the highest CAGR during the forthcoming year.

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Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry

The study comprehensively covers the market across different segments

Deep dive regional level analysis of the industry

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