Automated Storage and Retrieval Systems (ASRS) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Unit Load ASRS, Mini Load ASRS, Vertical Lift Module, Vertical Carousels, Horizontal Carousels, AutoStore, and Others) and End-User Indus

Automated Storage and Retrieval Systems (ASRS) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Unit Load ASRS, Mini Load ASRS, Vertical Lift Module, Vertical Carousels, Horizontal Carousels, AutoStore, and Others) and End-User Industry (Automotive, Food & Beverages, Electronic & Semiconductors, E-Commerce, Chemicals, Aerospace, Retail, Pharmaceuticals, and Others)

The automated storage and retrieval systems (ASRS) market is projected to grow from US$ 2,724.27 million in 2022 to US$ 4,681.40 million by 2028; it is estimated to record a CAGR of 7.0% from 2022 to 2028.

Demand for optimized and space efficient storage systems, need for efficient supply chain, and demand for systematic management of redundant warehouse processes are driving the automated storage and retrieval systems (ASRS) market growth. Furthermore, increasing demand for automation in the e-commerce industry and rising demand for cold chain ASRS are expected to provide lucrative opportunities for the automated storage and retrieval systems (ASRS) market during the forecast period.

Assembling of parts is a key component in the automotive industry, and productivity of an employee, to a huge extent, depends on this factor. If the parts aren’t kept in an organized manner, the employee will end up wasting time in finding a spare part. ASRS adoption in automotive companies can significantly enhance operations and save cost and time. Storing different parts in an organized manner and then deliver it to the operator who is located at an ergonomic position would ensure optimum usage of storage spaces and time. The shuttles are used to store or retrieve automotive parts from storage places. They store and retrieve various totes, trays, and parts. Also, they efficiently handle all sizes of parts, including mufflers and pipes, gaskets, and wiper blades. Furthermore, the modular nature of a storage system allows for the easy scalability of storage spaces. All these factors propel the automated storage and retrieval systems (ASRS) market growth in the automotive industry.

The food & beverage (F&B) industry faces some unique challenges such as, unique materials in every different item, packaging variations as per product, and high processing speeds to meet the demands of consumers. These challenges can be overcome with the help of specialized storage systems and associated technologies to deliver reliably to the end consumer. The F&B industry has the highest number of assortments in the product mix, carrying different expiry dates that need to be taken care of. There has been a huge demand for cold storage solutions in the APAC market. Perishable food items such as meat products, milk products, bakery products require cold storage. Export from the region has increased the implementation of such solutions. All these factors propel the use of automated storage and retrieval systems (ASRS) market in the food & beverage (F&B) industry.

Germany is the largest market for automobiles in the world, also several manufacturing companies are located in Germany. The automotive industry is growing in Germany with rise in new car sales. For instance, according to Automotive News Europe, new car sales increased by 17% in October 2022 compared to September 2022. Hence, the demand for ASRS in Germany is predominantly generated by the automotive industry. German automotive manufacturers are highly advanced and implement all the latest technology in the production process and assembly line. The presence of several manufacturing industries, including automotive and electronics in the country, is the major force driving the automated storage and retrieval systems (ASRS) market in Germany.

The automated storage and retrieval systems (ASRS) market is segmented on the basis of type, end user industry, and geography. Based on type, the automated storage and retrieval systems (ASRS) market is segmented into unit load ASRS, mini load ASRS, vertical lift module, vertical carousels, horizontal carousels, autostore, and others. Based on end user industry, the automated storage and retrieval systems (ASRS) market is segmented into automotive, food & beverages, electronic & semiconductors, e-commerce, chemicals, aerospace, retail, pharmaceuticals, and others. By geography, the automated storage and retrieval systems (ASRS) market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Bastian Solutions, Inc.; Daifuku Co., Ltd.; KION GROUP AG; Kardex Group; Knapp AG; Mecalux, S.A.; SSI Schaefer Group; Swisslog Holding AG; System Logistics Spa; and Vanderlande Industries are a few key players operating in the automated storage and retrieval systems (ASRS) market and profiled in this market study.

The overall automated storage and retrieval systems (ASRS) market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the automated storage and retrieval systems (ASRS) market. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the automated storage and retrieval systems (ASRS) market.

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