Chicago, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Automated Storage and Retrieval System Market by Type (Unit Load, Mini Load, VLM, Carousel, Mid Load), Industry, and Region (North America, Europe, APAC, RoW) (2021-2026)", The ASRS players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, partnerships, and acquisitions to strengthen their offerings in the market. The major players are Daifuku (Japan), Kardex (Switzerland), Murata Machinery (Japan), SSI Schaefer (Germany), TGW Logistics (Austria), KION (Germany), KUKA (Germany) among others.
- Expected Market - $11.0 Billion by 2026
- Projected to grow from - $7.8 billion in 2021
- At a CAGR – 7.2%
- Market Size Available for Year – 2017-2026
- Base Year – 2020
- Forecast Period – 2021-2026
- Segments Covered - Type, Material, Wavelength, Application, Data Rate, Industry, and Geography
- Geographic regions covered - North America, APAC, Europe, and RoW
ASRS is a complex system operating in synchronization with many sensors, motors, and equipment guided by programming software. Any technical issue related to sensing element in ASRS may halt an entire operational process, which leads to additional time and cost to the company. Any fault in the software programming will also lead to improper functioning of the ASRS, thereby delaying the entire production process and increasing the downtime of the facility. This downtime can range from a few minutes to several days. Therefore, system failures adversely affect the process and result in diminishing profits. An ASRS would not be able to contribute to a company’s profitability unless it is properly maintained. This poses a challenge for the players operating in the ASRS market.
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Browse in-depth TOC on “ASRS Market”
187 - Tables
56- Figures
213 – Pages
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.
Unit load ASRS is a high-density heavy payload ASRS that enables accurate, efficient, safe, and stable handling of full pallets contributing major help to automobile sector. 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.
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This report categorizes the global ASRS market based on Type, industry, and region.
ASRS Market, by Type:
- Unit Load
- Mid Load
- VLM
- Carousel
- Mini Load
ASRS Market, by Industry
- Automotive
- Metals & Heavy Machinery
- Food & Beverages
- Chemicals
- Healthcare
- Semiconductor & Electronics
- Retail
- Aviation
- E-commerce
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.
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.
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