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“The ASRS market is projected to grow at a significant rate from 2020 to 2025.
The ASRS market was valued at USD 7.3 billion in 2020 and is likely to reach USD 10.7 billion by 2025, at a CAGR of 8.0% from 2020 to 2025. An automated storage and retrieval system (ASRS) is a device used in manufacturing plants, warehouses, and distribution centers for storing and retrieving loads from one storage location to another. An ASRS comprises various computer-controlled systems and equipment that are used to store and accurately retrieve materials.
COVID-19 has emerged as a global pandemic that has spread across 215 countries worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the ASRS market.
“The market for vertical lift module (VLM) is expected to grow at the highest CAGR during the forecast period.”
Vertical lift module (VLM) market is expected to grow at the highest rate during the forecast period. The VLM is designed to deliver stored items to the operator, thereby eliminating walk and search time. The VLM increases productivity up to 67% and saves up to 85% of the floor space. VLM is also integrated with pick-to-light technology to improve accuracy levels. These factors such as improved accuracy and efficiency are responsible for the increased demand of VLM in the market.
“The automotive industry is projected to account for the largest share of the ASRS market during the forecast period.”
The automotive industry is expected to hold the largest share of the ASRS market in 2020. 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 have to 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. Due to the recent outbreak of COVID-19, the automotive industry is incurring massive financial losses. The demand for automobiles is decreasing as people continue to be under lockdown restrictions. Skilled workers required for maintaining and optimizing ASRS in warehouses are unavailable. This has resulted in reduced demand for ASRS in automotive warehouses.
“APAC is projected to grow at a higher CAGR during the forecast period.”
The ASRS market in APAC, led by China and Japan, is expected to grow at the highest rate 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. Due to the outbreak of COVID-19, the APAC region is suffering tremendous economic losses. China?the manufacturing hub of Asia?has suspended most of its production activities. Various warehouses in the country are closed due to the lack of manufacturing and unavailability of workforce. The COVID-19 pandemic has disrupted the supply chain of various industries. This has led to the temporary decrease in demand for ASRSs.
Break-up of the profiles of primary participants:
- By Company Type – Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
- By Designation – C-level – 48%, Director-level – 33%, and Manager-level – 19%
- By Region – North America - 35%, Europe – 18%, APAC – 40%, and RoW – 7%
The key players in the ASRS market include Daifuku (Japan), Kardex (Switzerland), Murata Machinery (Japan), SSI Schaefer (Germany), TGW Logistics (Austria), KION (Germany), KUKA (Germany), Toyota Industries (Japan), BEUMER (Germany), KNAPP (Austria), Mecalux (Spain), and System Logistics (Italy).
The ASRS market has been segmented into type, fuction, industry, and region. Based on type, the market has been segmented into unit load, mini load , vertical lift module (VLM), carousel, and mid load. Based on function, the ASRS market has been segmented into storage, order picking, distribution, assembly, kitting, and others. Industries studied in the report include automotive, metal & heavy machinery, food & beverages, chemicals, healthcare, semiconductor & electronics, retail, aviation, e-commerce, a nd others. The ASRS market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Reasons To Buy the report:
- Illustrative segmentation, analysis, and forecast of the market based on type, function, industry, and region have been conducted to give an overall view of the ASRS market.
- A value chain analysis has been performed to provide in-depth insights into the ASRS market.
- The key drivers, restraints, opportunities, and challenges pertaining to the ASRS market have been detailed in this report.
- Detailed information regarding the COVID-19 impact on the ASRS market has been provided in the report.
- The report includes a detailed competitive landscape of the market, along with key players, as well as in-depth analysis of their revenues.