Report : Asia Pacific Automated Storage and Retrieval System (ASRS) Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – by Type (Unit Load ASRS, Mini Load ASRS, Vertical Lift Module, Vertical Carousels, Horizontal Carousels, AutoStore, and Others) and End use Industry (Automotive, Food & Beverages, Electronic & Semiconductors, E-Commerce, Chemicals, Aerospace, Retail, Pharmaceuticals, and Others)
At 8.6% CAGR, the Asia Pacific Automated Storage and Retrieval System (ASRS) Market is speculated to be worth US$ 1,183.92 million by 2030, says The Business Market Insights
According to the Business Market Insights’ research, the Asia Pacific Automated Storage and Retrieval System (ASRS) Market was valued at US$ 612.70 million in 2022 and is expected to reach US$ 1,183.92 million by 2030, registering a CAGR of 8.6% from 2022 to 2030. Increasing demand for automation in the e- commerce industry and growth in demand for cold storage ASRS are the critical factors attributed to the Asia Pacific Automated Storage and Retrieval System (ASRS) Market expansion.
The development of the e-commerce industry goes hand-in-hand with the growth of the automated storage industry. Inventory sold by e-commerce sellers is stored in warehouses, and to reduce the time for sorting and stocking these products, ASRS seems to be one of the best tools. The purchasing pattern of consumers is moving toward online shopping. This is contributing to the growing sales of the e-commerce industry, which fuels the rising demand for ASRS in the e-commerce industry. Further, customers expect faster delivery time, owing to which e-commerce players are adopting automation in their processes. The fluctuations in demand for stock-keeping units (SKUs) create complexities in picking operations, which in turn, slows down the fulfillment process. Along with managing SKU demand fluctuations, an ASRS also advances the fulfillment process, thus, allowing e-commerce as well as omnichannel retailers to adhere better to service level agreements by fulfilling order delivery commitments. Thus, the benefits of ASRS ease the automation process, which propels the demand for ASRS in the e-commerce industry.
On the contrary, requirement of high initial investment hurdles the growth of Asia Pacific Automated Storage and Retrieval System (ASRS) Market.
Based on type, the Asia Pacific Automated Storage and Retrieval System (ASRS) Market is segmented into unit load ASRS, mini-load ASRS, vertical lift module, vertical carousels, horizontal carousel, autoStore, and others. The vertical lift module segment held 32.1% share in the Asia Pacific Automated Storage and Retrieval System (ASRS) Market in 2022, amassing US$ 196.83 million. It is projected to garner US$ 312.88 million by 2030 to expand at 6.0% CAGR during 2022–2030.
Based on end use industry, the Asia Pacific Automated Storage and Retrieval System (ASRS) Market is segmented into automotive, food & beverage, electronics & semiconductor, e-commerce, chemical, aerospace, retail, pharmaceutical, and others. The e-commerce segment held 19.0% market share in 2022, amassing US$ 116.52 million. It is projected to garner US$ 180.04 million by 2030 to expand at 5.6% CAGR during 2022–2030.
Based on country, the Asia Pacific Automated Storage and Retrieval System (ASRS) Market has been categorized into China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. Our regional analysis states that China captured 40.6 % market share in 2022. It was assessed at US$ 248.87 million in 2022 and is likely to hit US$ 442.92 million by 2030, exhibiting a CAGR of 7.5% during the forecast period.
Key players dominating the Asia Pacific Automated Storage and Retrieval System (ASRS) Market are SSI Schafer; Swisslog Holding AG; System Logistics SpA ; Bastian Solutions LLC; Daifuku Co Ltd; Kardex Holding AG; KNAPP AG; Vanderlande Industries BV; and Autocrib Inc among others.
- In Jan 2023, DS AUTOMOTION becomes a full member of the SSI SCHAEFER Group.
- In Dec 2022, Swisslog delivered another AutoStore to Bring's major venture in Copenhagen.
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