CHICAGO, December 17, 2021 / PRNewswire / – According to New Market Research Report Automated Storage and Retrieval System (ASRS) Market with COVID-19 Impact Analysis by Type (Unit Load, Mini Load, VLM, Carousel, Average Load), Industry and Region (North America, Europe, APAC, RoW) – Global forecasts to 2026 “, published by MarketsandMarkets ™, the market is expected to grow by $ 7.8 billion in 2021 to $ 11.0 billion by 2026 at a CAGR of 7.2% over the forecast period. The growth of ASRS market is mainly driven by the increasing demand for ASRS in e-commerce due to the onset of COVID-19, the growing demand for ASRS in the automotive industry, the need for optimal use space and increased labor costs.
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Unit-load ASRS accounted for the largest share of the ASRS market in 2020.
Unit charge ASRSs are used to store large items and also provide real-time inventory information, making them a more preferable type in several industries compared to other types of ASRS. Additionally, the Unit Load ASRS is a high density heavy payload ASRS that provides precise, efficient, safe and stable handling of full pallets. The growth of the market is also supported by their wide range of applications in the consumer goods, automotive, electronics, food and beverage, pharmaceutical and medical, and retail sectors. retail and clothing.
The automotive industry will represent the largest size of the ASRS market in 2021.
The shift in demand towards electric vehicles and autonomous vehicles has prompted automakers to step up auto manufacturing, which requires auto spare parts. Automotive suppliers must efficiently manage large quantities of goods and the variation and extent of inventory. In addition, these suppliers need to improve the storage capacity in the available floor space. Thus, automated storage and retrieval systems are increasingly used to meet the demands of material handling capacity.
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APAC is expected to grow at the highest CAGR from 2021 to 2026.
The ASRS for APAC market is expected to grow at the highest CAGR during the forecast period. The rapid growth of the automotive, food and beverage, 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. In addition, governments of APAC countries are increasingly emphasizing safety and security in production workshops, which can be best achieved through the implementation of ASRS. The ASRS market is growing rapidly in countries such as China and Japan due to increasing investments by manufacturers and suppliers in installing these systems in warehouses and distribution centers.
Daifuku (Japan), Kardex (Switzerland), Murata Machines (Japan), SSI Schaefer (Germany), TGW Logistics (Austria), KION (Germany), KUKA (Germany) are some of the major players in the ASRS market.
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SOURCE Markets and Markets