Europe Automated Storage and Retrieval System Market
Published On: May 2021
Published On: May 2021
E-commerce segment to Dominate Europe Automated Storage and Retrieval System Market during 2020–2028
According to a new market research study on “Europe Automated Storage and Retrieval System Market Forecast to 2028– COVID-19 Impact and Analysis - by Type; End Users; and Country,” is expected to reach US$ 1460.36 million by 2028 from US$ 927.86 million in 2020. The market is estimated to grow at a CAGR of 5.7% from 2021 to 2028 The report provides trends prevailing in the Europe Automated Storage and Retrieval System Market along with the drivers and restraints pertaining to the market growth. Growth in Demand for Efficient in Supply Chain across industries are the major factor driving the growth of Europe Automated Storage and Retrieval System Market. However, requirement of soaring initial investment hinder the growth of Europe Automated Storage and Retrieval System Market.
The impact of COVID-19 differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict as well as longer lockdown periods or social isolation. However, Western European countries such as Germany, France, Russia, the United Kingdom and others have seen a comparatively modest decrease in their growth activities because of the strong healthcare system. In order to protect its citizens from the virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. Businesses across Europe have shifted from traditional to online businesses in order to carry on with their financial activities during the COVID-19 outbreak. This has increased the adoption of ecommerce among the European population. However, the companies have made much investments in technological advancements across the nations in the sector, thereby, keeping the ASRS market unaffected the growth of the industry. Similarly, the manufacturing industry has not been spared. This is particularly true in Italy, which is currently the worst-affected country in Europe, with the government enforcing a national quarantine. Fiat Chrysler Automobiles (FCA), for example, has agreed to spread out its factory closures. Three days are spent at three Fiat and Alfa Romeo plants, and two days are spent at other plants that assemble small Jeep and Fiat crossovers. Also, The German auto industry, which is dependent on Chinese supplies, is also in jeopardy. Development at Nissan's largest plant in the UK, in Sunderland, was halted this week, and others are expected to follow suit.
The market for automated storage and retrieval system market is segmented into type, end user, and country. Based on type, the market is segmented into unit load asrs, mini load asrs, vertical lift module, vertical carousels, horizontal carousels, autostore, and others. In 2020, the vertical lift module segment held the largest share Europe Automated Storage and Retrieval System Market. Based on end user the automated storage and retrieval system market is divided into automotive, food & beverages, electronic & semiconductors, e-commerce, chemicals, aerospace, retail, pharmaceuticals, and others. Retail is expected to the fastest growing segment over the forecast period
SSI SCHAEFER GROUP, Swisslog Holding AG, System Logistics Spa, Daifuku Co. Ltd, Kardex Group, KNAPP AG, Mecalux, S.A., Autocrib, Incare among the leading companies in the Europe Automated Storage and Retrieval System Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, The MEMBER OF ASAHI BREWERIES EUROPE GROUP installed 16 counterbalanced AGVs Maxi with single and double forks for a total capacity of 11.000 pallet locations and a throughput of 3.900/3.900 IN/OUT pallets/day
The report segments the Europe Automated Storage and Retrieval System Market as follows:
Europe Automated Storage and Retrieval System Market – By Type
Europe Automated Storage and Retrieval System Market – By End User
Europe Automated Storage and Retrieval System Market – By Country
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