Rising need for space utilization in warehouses to bolster demand for Automated Storage & Retrieval Systems; high product demand from industrial manufacturing facilities to boost the market growth

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OVERVIEW

Automated Storage & Retrieval System Market is expected to reach USD 11,578.3 million by the end of 2026.

Bizlytik analysts forecast the global Automated Storage & Retrieval System market to grow at a CAGR of 7.2% during the forecast period, according to their latest market research report.

Automated Storage & Retrieval Systems (ASRS) are a set of mechanical designs and contraptions controlled by digital computer systems. The primary function of the ASRS is to identify and retrieve specific packages from a specified location in a logistics warehouse with improved speed, accuracy, and precision. The systems are installed as a means to achieve efficiency and space optimization in the rapidly evolving global shipping and industrial manufacturing sectors.

The increasing product incorporation in the automotive & aviation industries and rising need for space optimization and utilization in e-commerce warehouses are the influential primary factors that would propel the growth of the market during the forecast period. The rapid growth and popularity of online shopping and e-commerce retail have necessitated the construction & building of new warehouses in already congested industrial areas. To fully utilize the space available, most of the shipping corporations have adopted and installed advanced automated technologies for package handling and delivery. The automated storage & retrieval systems have improved the operational excellency of warehouses in day-to-day activities, ensuring the consistent delivery of products promptly. The increasing product installations in manufacturing facilities have influenced an improvement in average production volumes yearly, propelling the growth of the market in the ensuing years. The product integration has also successfully eliminated risks of congestion of items at one place or possibilities of product misplacement, which would invariably instigate market growth prospects. The gradual integration of automation in the e-commerce sector in emerging regions would offer crucial vendors with new opportunities for product sales and business expansion over the forecast period.

Vertical Lift Storage Modules (VLSM), Unit Load Stackers, ASRS Gantry Robots, and Others are covered in the Type segment of the market scope. The Function segment is bifurcated into Assembly, Kitting, Order Picking, Distribution, and Storage. In contrast, the Application segment is categorized into Transportation, Semiconductor & Electronics, E-Commerce, Automotive, Metals & Heavy Machinery, and Others. The report covers Consumption volume of the global market by Application, with the volume expressed in Units. The Type and Function segments are calculated in terms of Production value and volume.

The volume of the Automotive Consumption by Application is estimated to garner 42,076 Units by 2026, growing at a CAGR of 9.1% from 2020 to 2026. The high demand for product installations is increasingly influenced by the need to find storage space for automotive parts and modules and to retrieve it in a precise manner when need be. The increasing spending on automotive facilities for expansion and extension of manufacturing capabilities would further improve the segment growth in the coming years.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration while arriving at the global volume and value figures. While North America is further categorized into the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

Europe is a prominent region and holds a substantial market share in terms of overall consumption volume owing to the increased awareness among logistics & shipping companies to achieve optimized efficiency and promote utilization of allocated space. The growth in production of electric vehicles would further instil an improvement in regional market growth prospects.

The Automated Storage & Retrieval System market is moderately consolidated, with few global companies operating with expansive manufacturing capabilities and extensive product distribution networks in the evolving market scenario. The diversification of business opportunities through tactical mergers & acquisitions and strategic collaborations are the primarily followed business strategies of top players.

Daifuku Co., Ltd. is one of the most significant companies of the global Automated Storage & Retrieval System Market in terms of production volume, with SSI Schäfer AG and Dematic GmbH & Co. KG among many other vendors to holds substantial market share by volume and value.