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Automated Storage and Retrieval System (ASRS) Market Size, Share Global Analysis Report, 2022 – 2028
Automated Storage and Retrieval System (ASRS) Market Size, Share, Growth Analysis Report By Type (Unit Load, Mid Load, VLM, Carousel, Mini Load), By Application (Automotive, Metals & Heavy Machinery, Food & Beverages, Chemicals, Healthcare, Semiconductor & Electronics, Retail, Aviation, E-commerce, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028
Industry Insights
[210+ Pages Report] According to Facts and Factors, the global automated storage and retrieval system (ASRS) market size was worth USD 7,294.50 million in 2021 and is estimated to grow to USD 10,824.87 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.80% over the forecast period. The report analyzes the automated storage and retrieval system (ASRS) market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the automated storage and retrieval system (ASRS) market.
Market Overview
Automated storage and retrieval systems are inventory management tools that are frequently used in manufacturing plants, distribution centers, and warehouses. They are made up of several computer-controlled devices for autonomously transferring loads from one location to another. As they assist in offering quick, precise, dependable, and affordable solutions, these systems are used when moving high-volume cargo between locations. Additional factors anticipated to propel the automatic storage and retrieval system market expansion in the upcoming years include the rise in demand to lower labor costs, achieve optimal space utilization, and boost the use of ASRS in distribution supply chains and inventory control.
Machines like robotics and other material handling machines may autonomously maintain and retrieve items from shelves thanks to automated storage and retrieval systems. Such operations can be automated to lower labor costs, accelerate turn - around time, cut down on errors, and maximize storage space through vertical storage. Factors driving the growth of the ASRS market include the need for better inventory management, optimized space utilization, increased labor costs, and greater accuracy, productivity, and efficiency in the distribution chain.
COVID-19 Impact:
Covid-19 was largely unknown until this global epidemic quickly evolved from a localized emergency to a pandemic. By tampering with the supply chain and obstructing numerous industrial processes, COVID-19 has affected practically all industries globally. Most businesses have either stopped all manufacturing or only do the bare minimum. Government responses to COVID-19, such as lockdown and social isolation, resulted in the shutdown of production facilities early in the epidemic. The introduction of COVID-19 has increased the demand for automatic storage and retrieval system (ASRS) in e-commerce and automatic storage and retrieval system (ASRS) in the automotive sector.
Key Insights
- As per the analysis shared by our research analyst, the global automated storage and retrieval system (ASRS) market value is to grow at a CAGR of 6.80% over the forecast period.
- In terms of revenue, the global automated storage and retrieval system (ASRS) market size was valued at around USD 7,294.50 million in 2021 and is projected to reach USD 10824.87 million by 2028.
- The automatic storage and retrieval system (ASRS) market is anticipated to develop in the upcoming years due to the quick transition to e-commerce platforms, the increasing importance of automated storage systems, and high investments in automating industrial and moving materials activities.
- By type, the unit load category dominated the market in 2021.
- By application, the food & beverages category dominated the market in 2021.
- North America dominated the global automated storage and retrieval system (ASRS) market in 2021.
Growth Drivers
- Technological advancement to drive market growth
Technological breakthroughs are shaping the automatic storage system and various forms of retrieval system markets. To reduce errors, repetitive activities, and processing costs, major industry participants are creating sophisticated automated storage and retrieval systems for industrial applications are the major driver responsible for the tremendous growth in the market.
Restraints
- High initial costs for new perforates hinder the market growth
ASRS is a very profitable automation system for use in warehouses, and its initial installation involves a substantial financial outlay which is expected to limit the global automated storage and retrieval system (ASRS) market growth. Before purchasing the system, a supply chain and inventory management pre-purchase investigation is necessary. Software, automated systems, and racks must be installed to implement ASRS. This entire system is expensive. This system needs to be set up accurately, which necessitates specialized work.
Opportunity
- Increased demand for ASRS in the aviation sector provides growth opportunities.
The aviation sector has acknowledged the demand for ASRS, especially in production, distribution, and inventory control manufacturing. Thus, the demand for ASRS has increased over the past ten years due to industrial facility retrofitting. Different industries, including packing and delivery, are being forced to choose ASRS products at a larger rate due to expansion in the industrial sector's total production due to rising individual consumer values, generating profitable potential pockets in the market.
Segmentation Analysis
The global automated storage and retrieval system (ASRS) market has been segmented into type, application, and region.
Based on type, the market is classified into a unit load, mid load, VLM, carousel, and mini-load. In 2021, the unit load category dominated the global market. Unit load ASRSs are more popular than other types of ASRSs in many sectors since they are utilized to store large-size items and offer real-time inventory information. Unit load ASRS is also a high-density heavy payload ASRS that enables it to handle whole pallets accurately, effectively, safely, and steadily.
Based on application, the global automated storage and retrieval system (ASRS) market is segmented into automotive, metals & heavy machinery, food & beverages, chemicals, healthcare, semiconductor & electronics, retail, aviation, e-commerce, and others. The food & beverage segment had the highest share in this market in 2021. Implementing AS/RS systems in the food industry helps product code distribution, last-in-first-out (LIFO) separation, and monitoring of product expiration dates. It helps the beverage industry distinguish between volatile and non-volatile solutions, which is another advantage. Food handling by humans was strictly forbidden, which raised the necessity for fully computerized systems for storage and retrieval. The current state of the food and beverage associated AS/RS market outlook will improve with the growing trend of food e-marts and online shopping stores
Recent Developments:
- August 2021: The contract to automate a new section of ZF Foton's warehouse in Jiaxing, Zhejiang province, China, was given to SSI SCHAEFER.
- July 2020: Due to the COVID-19 issue, Honeywell Intelligrated intends to increase automation. Distribution centers adopted remote operations and socially distant work procedures due to the global pandemic, which produced an abrupt and seismic upheaval in the global supply chain.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 7,294.50 Million |
Projected Market Size in 2028 |
USD 10824.88 Million |
CAGR Growth Rate |
6.80% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
DAIFUKU, MURATA MACHINERY, SSI SCHAEFER, TGW LOGISTICS, KARDEX, TOYOTA INDUSTRIES, BEUMER, KION, KNAPP, MECALUX, KUKA, SYSTEM LOGISTICS, VANDERLANDE, HONEYWELL INTERNATIONAL, and Others |
Key Segment |
By Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Regional Landscape
- North America dominated the automated storage and retrieval system (ASRS) market in 2021
In 2021, the global automated storage and retrieval system (ASRS) market was dominated by North America. Companies are using big data technology more frequently to improve their consumer target marketing and risk management capabilities. Additionally, during the anticipated time frame, the automated storage and retrieval system (ASRS) market in the region would grow as a result of increased infrastructure development and industrialization, which allowed automated storage system manufacturers to expand their market penetration in several countries.
Competitive Landscape
- DAIFUKU
- MURATA MACHINERY
- SSI SCHAEFER
- TGW LOGISTICS
- KARDEX
- TOYOTA INDUSTRIES
- BEUMER
- KION
- KNAPP
- MECALUX
- KUKA
- SYSTEM LOGISTICS
- VANDERLANDE
- HONEYWELL INTERNATIONAL
The global Automated Storage and Retrieval System (ASRS) Market is segmented as follows:
By Type
- Unit Load
- Mid Load
- VLM
- Carousel
- Mini Load
By Application
- Automotive
- Metals & Heavy Machinery
- Food & Beverages
- Chemicals
- Healthcare
- Semiconductor & Electronics
- Retail
- Aviation
- E-commerce
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- DAIFUKU
- MURATA MACHINERY
- SSI SCHAEFER
- TGW LOGISTICS
- KARDEX
- TOYOTA INDUSTRIES
- BEUMER
- KION
- KNAPP
- MECALUX
- KUKA
- SYSTEM LOGISTICS
- VANDERLANDE
- HONEYWELL INTERNATIONAL
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