13 May 2021
Visiongain has published a new report on Automated Storage & Retrieval System (ASRS) Market Report to 2031: Forecasts by type (Vertical Lift Module (VLM), Unit Load, Mini Load, Others), by function (Distribution, Storage, Assembly, Order Picking, Others), by industry vertical (Food & Beverages, Metals & Heavy Machinery, Automotive, Retail, Healthcare, Others). PLUS Profiles of Leading Automated Storage & Retrieval System (ASRS) Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Automated Storage & Retrieval System (ASRS) market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031. ASRS is controllable system which provides a wide variety of size, cost, flexibility, and speed which uses load recovery to automatic positioning of goods from predetermined storage locations. Moreover, ASRS is largely used in food & beverages, e-commerce, chemicals, and automotive industry. Furthermore, it has a wide range of applications in warehouses & distribution canters such as finished goods storage, order fulfilment, and others.
Factors such as increased development & advancements in warehousing business and surge in demand for ASRS among e-commerce sector are some of the major factors propelling the market growth. On the contrary, technological advancement and growing demand for optimizing & enhancing space-efficient storage systems are becoming major factors expected to create lucrative opportunities to the market in the upcoming years.
COVID-19 Impact on Automated Storage & Retrieval System (ASRS) Market
The COVID-19 pandemic as crippled several industries such as manufacturing, automotive, and others. The Automated Storage & Retrieval System (ASRS) market has experienced significant growth due to increased demand for ASRSs in e-commerce sector. Moreover, optimum utilization of space & rise in labor costs, efficiency in supply chain & inventory control are the major factors propelling the demand for ASRS in the market.
Increased development & advancements in warehousing business
With an increased online demand for several products, the development & advancements has tremendously increased in warehousing business operation. Moreover, several multinational companies are establishing new plants & warehouses. Therefore, the demand for ASRS is continuing to set up new warehouses, which is therefore propelling the market growth.
Surge in demand for ASRS among e-commerce sector
E-commerce giants, such as Amazon, Alibaba, and eBay, are expanding their businesses, in order to meet local consumer demand globally. Moreover, online purchases & digitalized retailing are becoming major factors boosting the requirements for ASRS across e-commerce sector. Therefore, surge in demand for ASRS among e-commerce sector is becoming major factor propelling the market growth.
Automated Storage & Retrieval System (ASRS) market and is growing tremendously with several innovations in the market. Moreover, advancement in technologies provides several features such as storing & retrieving of volumetric products, formulating real-time count over units loaded, d other advance solutions. These major benefits in the technologies are adopted by several industry vertical, which as a result anticipated to create lucrative opportunities to the Automated Storage & Retrieval System (ASRS) market.
Growing demand for optimizing & enhancing space-efficient storage systems
This growing need of optimizing & enhancing space-efficient storage system across industry is expected to provide an immense growth opportunities to the key players in the market. Moreover, industries are experiencing huge requirements for bulk storage facilities and instant retrieving system. These factors, as a result expected to foster the growth in the Automated Storage & Retrieval System (ASRS) market growth in the upcoming years.
Some of the companies profiled in the report include Bastian Solution, BEUMER Group, Daifuku Co., Limited, Honeywell International, Inc., Kion Group, Knapp AG, Kuka AG, Murata Manufacturing Co., Ltd., SSI Schaefer, and Toyota Industries Corporation.
In June 2020, Murata Machinery, which is a privately held Japanese international company collaborated with Prestar Resources Bhd., a steel products and equipment maker. In addition, the collaboration aimed at supplying the Automated Storage & Retrieval System (ASRS) Racking System for the former company.
In July 2019, Daifuku Co., Limited which is a material-handling equipment company signed an agreement with Arnott in order to develop a high capacity storage solution for the latter company. Moreover, Arnott implemented Daifuku’s unit load ASRS cranes, sorting transfer vehicles and goods to person stations for mixed case picking.
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