Automated Storage and Retrieval System (ASRS) Market worth $11.0 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 17, 2021 /PRNewswire/ -- 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", published by MarketsandMarkets™, the market 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 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.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=195267987
Unit load ASRS accounted for the largest share of the ASRS market in 2020.
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 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. Thus, automated storage and retrieval systems are increasingly being used to fulfill the requirements related to material handling capacity.
Browse in-depth TOC on "Automated Storage and Retrieval System Market"
174 – Tables
57 – Figures
238 – Pages
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=195267987
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.
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.
Related Reports:
RFID Market with COVID-19 Impact Analysis by Product Type (Tags, Readers, and Software and Services), Wafer Size, Tag Type (Passive Tags and Active Tags), Frequency, Applications, Form Factor, Material, and Region - Global Forecast to 2026
Warehouse Management System Market with COVID-19 Impact Analysis by Offering (Software, Services), Deployment (On Premises, Cloud), Tier Type (Advanced, Intermediate, Basic), Industry, and Region - Global Forecast to 2026
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Reearch Insight: https://www.marketsandmarkets.com/ResearchInsight/automated-storage-retrieval-system-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/automated-storage-retrieval-system.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article