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Global ASRS For Garments On Hangers Market Expansion at 7.6% CAGR, Valued at $2.74 Billion by 2029
ASRS For Garments On Hangers
What Are the ASRS For Garments On Hangers Market Size Forecast for 2025?
The market for hanger garments' Automated Storage and Retrieval Systems (asrs) has seen significant growth over recent years. The market's projection indicates a surge from $1.9 billion in 2024 to $2.05 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%. The upwards trend during the historic period is largely due to the expansion of retail and e-commerce sectors, heightened environmental consciousness, a growing demand for customized storage options, an increased focus on optimal space management and organization in warehouses, and an influx in labor expenses.
What Is the Market Size Outlook for ASRS For Garments On Hangers Until 2029?
Expectations are high for robust expansion in the asrs for garments on hangers market over the upcoming years. It's forecasted to reach $2.74 billion by 2029, experiencing a compound annual growth rate (CAGR) of 7.6%. Factors contributing to this growth within the forecast period range from the burgeoning fast fashion industry requiring agile and efficient storage solutions, to evolving consumer demands for prompt order completion, the need for smart logistics solutions with the emergence of smart cities, and an increased need for just-in-time inventory management. The forecast period is also likely to witness key trends such as AI and machine learning integration, customization opportunities, robotics incorporation, the adoption of modular designs, cloud connectivity, and technological advancements.
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What Are the Major Factors Driving Demand in the ASRS For Garments On Hangers Market?
The escalating e-commerce sector is anticipated to stimulate the expansion of the ASRS for the garments-on-hangers market in the future. E-commerce refers to the digital trade of products and services via the internet. The growth of this sector derives from increasing online accessibility, ease of shopping, and a shift in consumer behavior towards online shopping. ASRS for garments on hangers enhances inventory management and increases efficiency in e-commerce warehouses by allowing quicker and more precise handling of clothing orders. For instance, data from the International Trade Administration, a branch of the US Department of Commerce, in November 2023 predicts that global B2C e-commerce revenue will hit $5.5 trillion by 2027, showing a consistent compound growth rate of 14.4%. Furthermore, the gross merchandise value (GMV) in 2023 climbed to $24,453 billion, a jump from $21,019 billion in 2022. Hence, the burgeoning e-commerce sector is fuelling the ASRS for the garments-on-hangers market.
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How Are End-Use Segments Shaping the ASRS For Garments On Hangers Market Outlook?
The asrs for garments on hangers market covered in this report is segmented -
1) By Type: Garment Rail System, Garment Conveyor, Garment Property Storage, Other Types
2) By Load: Unit Load, Mid Load, Vertical Lift Module (VLM), Carousel, Mini Load
3) By Application: Warehousing And Logistics, Retail Third-Party Logistic (3PL), Hotels, Hospitals And Institutes, Other Applications
Subsegments:
1) By Garment Rail System: Overhead Rail Systems, Vertical Rail Systems
2) By Garment Conveyor: Automated Conveyor Belts, Shuttle Conveyors
3) By Garment Property Storage: Hanging Storage Systems, Modular Storage Units
4) By Other Types: Mobile Racking Systems, Vertical Lift Modules (VLM), Custom Automated Solutions
What Are the Strategic Trends Transforming the ASRS For Garments On Hangers Market Landscape?
Major firms in the 'ASRS for garments on hangers' market are shifting their focus towards more technologically innovative solutions, such as automated hangers, with the goal of improving efficiency and cutting costs. In addition, these companies are keeping sustainable practices and Internet of Things (IoT) integration at the forefront to optimise their operations and enhance the handling of inventory. An automated hanger system, which often incorporates conveyors or robotics, utilizes technology to efficiently manage storage and retrieval of clothes, thereby saving on labour costs in areas like laundry and dry cleaning services. To illustrate this, RT Knits Ltd., a Mauritius-based textile firm, introduced an Automated Hanger System (AHS) in November of 2023. The AHS is designed to save on labour costs and increase efficiency by automating the handling of garments throughout the manufacturing process, improving workflow, quality control, and sustainability and bringing about better operational efficiency in the clothing production industry.
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Who Are the Prominent Companies in the ASRS For Garments On Hangers Market by ?
Major companies operating in the ASRS for garments on hangers market are Dematic Corporation, Daifuku Co. Ltd., Vanderlande Industries Holding B.V., KNAPP AG, Mainetti, Mecalux S.A., TGW Logistics Group GmbH, Bastian Solutions Inc., Vecna Robotics Inc., Kardex AG, J.S. Hanger, Whitmor, SSI SCHAEFER Systems International Holding AG, Interroll Group, M&B Hangers, Conveyco Technologies Inc., Henry Hanger, Bend & Hook, Swisslog Holding AG, Noega Systems S.L., Westfalia Technologies Inc., Geek+ Robotics (Beijing) Co. Ltd., Bend & Hook
Which Region Is Expected to See the Highest CAGR in the ASRS For Garments On Hangers Market?
North America was the largest region in the ASRS for garments on hangers market in 2024. The regions covered in the ASRS for garments on hangers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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