Press release
Automated Storage And Retrieval System (ASRS) Market Study: An Emerging Hint of Opportunity by 2027
The global Automated Storage And Retrieval System (ASRS) Market was valued at US$ 2.3 Bn in 2018 and is expected to reach US$ 4.6 Bn by 2027 with a CAGR growth rate of 8.0% in the forecast period from 2019 to 2027.Over the years, ASRS technology has rapidly developed, new options offer a wide range of size, cost, speed, and flexibility, and has escalated the rate of system adoption. It has made ASRS technologies one of the most common and impactful investment prospects available to most operations.
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Analysis of the Top Market Players:
1. SSI SCHAEFER GROUP
2. Swisslog Holding AG.
3. System Logistics Spa
4. Bastian Solutions
5. Daifuku Co. Ltd
6. Kardex Group
7. KNAPP AG
8. Mecalux, S.A.
9. Vanderlande Industries
10. Autocrib, Inc
In this report, the market has been segmented on the basis of:
Type
• Unit Load ASRS
• Mini Load ASRS
• Vertical Lift Module
• Vertical Carousels
• Horizontal Carousels
• AutoStore
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The APAC region is expected to witness the highest CAGR during the forecast period. The rapid growth in healthcare, retail, food & beverage, and automotive industry is expected to fuel the demand for automated storage and retrieval system (ASRS). The industries in the APAC region are rapidly adopting automation, resulting in the growth of the automated storage and retrieval system automated storage and retrieval system (ASRS) market. The growth of the e-commerce industry in the APAC region is another significant factor impacting the automated storage and retrieval system (ASRS) market. Several automotive players are expanding their manufacturing capabilities in the region. For example, Hyundai announced plans to open a new facility in Indonesia for electric cars. Moreover, Tesla is developing its new electric car factory in China. These developments in the automotive industry are expected to boost the automated storage and retrieval system (ASRS) market in the APAC region.
The European region is estimated to lead the automated storage and retrieval system (ASRS) market in 2018. The growth in Europe is attributed to the presence of several automated storage and retrieval system (ASRS) players in the region, coupled with a substantial customer base. Also, significant investments made by automotive players in the automated material handling equipment is driving the installation of automated storage and retrieval system (ASRS). Even the cost of implementing automation is declining in Europe, along with the increase in labor costs.
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