At 7.6% CAGR, Asia Pacific ASRS for Garments on Hangers Market is Projected to be Worth US$ 780.50 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific ASRS for garments on hangers market was valued at US$ 435.12 million in 2022 and is expected to reach US$ 780.50 million by 2030, registering a CAGR of 7.6% from 2022 to 2030. Integration with other technologies, surge in demand due to labor shortage and growth in urbanization are among the critical factors attributed to drive the Asia Pacific ASRS for garments on hangers market growth.

Manufacturers of automated storage and retrieval systems (ASRS) for garments on hangers offer immense potential for integration with other cutting-edge technologies, presenting a valuable opportunity for businesses operating in the garment industry. By combining the capabilities of ASRS with complementary technologies, companies can achieve new levels of efficiency, productivity, and operational excellence. Furthermore, integrating ASRS with robotics and automation technologies offers significant opportunities for streamlining and enhancing warehouse operations. Collaborative robots, also known as cobots, can work alongside ASRS systems to perform additional tasks such as picking, sorting, and packing. This integration allows for a seamless flow of garments from the ASRS to the cobots, minimizing manual intervention and increasing overall efficiency. By automating repetitive and labor-intensive tasks, businesses can free up human resources to focus on more value-added activities, reduce the risk of human error, and achieve higher productivity levels. Thus, the integration of ASRS with other technologies is likely to create numerous opportunities for the market players during the forecast period.

On the contrary, high initial investment and limited flexibility hamper the growth of Asia Pacific ASRS for garments on hangers market.

Based on type, the Asia Pacific ASRS for garments on hangers market is segmented into garment rail system, garment conveyor, garment property storage, and others. The garment rail system segment held 42.7% market share in 2022, amassing US$ 185.88 million. It is projected to garner US$ 350.93 million by 2030 to register 8.3% CAGR during 2022-2030.

In terms of application, the Asia Pacific ASRS for garments on hangers market is segmented into warehousing & logistics, retail 3PL, hotels, hospitals & institutes, and others. The warehousing & logistics segment held 43.7% share of Asia Pacific ASRS for garments on hangers market in 2022, amassing US$ 190.33 million. It is anticipated to garner US$ 352.27 million by 2030 to expand at 8.0% CAGR during 2022-2030. Furthermore, the warehousing & logistics segment is subcategorized into garment on hanger and flat or folded inventory. Additionally, the retail 3PL segment is bifurcated into garment on hanger and flat or folded inventory.

Based on country, the Asia Pacific ASRS for garments on hangers market is categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 32.7% share of Asia Pacific ASRS for garments on hangers market in 2022. It was assessed at US$ 142.15 million in 2022 and is likely to hit US$ 284.33 million by 2030, registering a CAGR of 9.1% during 2022-2030.

Key players operating in the Asia Pacific ASRS for garments on hangers market are Schonenberger Systeme GmbH, BEUMER Group GmbH & Co KG, Dematic Corp, KNAPP AG, Daifuku Co Ltd, and Vanderlande Industries BV, among others.

• In May 2022, The BEUMER Group acquired FAM GmbH, Magdeburg, a supplier of conveying systems and loading technology. The contracts were signed to complete the transaction by the end of May. This also significantly strengthened the BEUMER Group's market position in the large equipment sector.
  
  
• In June 2021, BEUMER Group - a leading global supplier of automated material handling systems - launched its new BG Pouch System in response to the rapid growth of interest from omnichannel and D2C operators.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com