Asia Pacific Automated Storage and Retrieval System Market
No. of Pages: 105 | Report Code: TIPRE00022119 | Category: Electronics and Semiconductor
No. of Pages: 105 | Report Code: TIPRE00022119 | Category: Electronics and Semiconductor
APAC encompasses countries such as India, China, Japan, Australia, South Korea, and Rest of APAC. Countries such as Japan, India, China, Australia, Singapore, Taiwan, and Indonesia have a plethora of manufacturing industries pertaining to a diverse sector that includes electronics, food & beverage, chemicals, textile, automobiles, and healthcare. The manufacturing industry in the countries of Asia Pacific has experienced a huge shift in the adoption of adopted solutions over the years. The Asian manufacturing sector is known to rapidly adopt innovation that include robotics along with the emerging cloud and mobility technologies. Over the years, the manufacturing spending of the region has grown significantly and is further anticipated to grow at the highest estimated growth rate. For instance, the Automatic Storage and Retrieval System (ASRS) are installed at warehouses, within the HCCB factory at Goblej, Gujarat. Thus, the rise in adoption among factories is also influencing the market growth over the years. Furthermore, Government policies such as Make-in-India in India encourage the setup of manufacturing plants in fast-developing countries. The encouragement of the manufacturing sector is done by the Government to make the country self-sufficient first and then export the surplus produce. A manufacturing hub requires deployments of storage houses, and efficient and automated storage houses improve accuracy and achieve space savings by vertically stacking up the products. These factors are fueling the growth of ASRS implementations in the APAC region.
Because of a massive number of cases in China, the APAC region is greatly affected by COVID-19, the country also homes the largest population across the world, thereby imposing greater risk of a large number of individuals; it is also a world leader of many brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other major economies outside China, such as the large India, Australia and Japan, and is experiencing downward inflation. The sudden closedown of all economic activities which includes retail outlets of both essential products and luxurious items has impacted the overall economy of the countries in the region. Owing to severe burden of losses over manufacturing companies or brands, they started investing in online platforms to sell their products and services. Though the ecommerce industry has experienced a raise in the pandemic, but the industry across the region have not seen any investments in technological advancements thereby having no impact on the ASRS market even if the market has been growing. The manufacturing industry across the APAC region has been adversely affected due to the rapid spread of the corona virus in countries like China and India. For instance, according to studies, China's manufacturing sector is expected to lose nearly $50 billion in revenue. Though the world is slowly recovering from the pandemic, its effects on the industry will be long-lasting. The country’s chemical industry has been seriously harmed as a result of being at the epicentre of the COVID-19 outbreak at the end of 2019. As of March 2020, the industry had lost 14% of its production and 39% of its income. Similarly, Car sales in China dropped 42% in the first quarter of 2020, according to the China Association of Vehicle Manufacturers (CAVM). China is also the world's leading manufacturer and exporter of consumer electronics. Various electronic input supplies have been stopped as a result of the outbreak. According to researchers, approximately two-thirds of US companies operating in China expect lower growth due to a labor shortage. As a result of the disruption, countries like India are experiencing a shortage of essential electronic goods and components. The most notable example is Apple's decision to delay the release of the iPhone 9 due to a labor shortage and factory closures in China. Thus, the above-mentioned factors have been negatively impacting the demand for automated storage solutions market.
Strategic insights for the Asia Pacific Automated Storage and Retrieval System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 525.04 Million |
| Market Size by 2028 | US$ 1050.91 Million |
| Global CAGR (2021 - 2028) | 5.7% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Automated Storage and Retrieval System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The automated storage and retrieval system market in APAC is expected to grow from US$ 525.04 million in 2020 to US$ 1050.91 million by 2028; it is estimated to grow at a CAGR of 5.7% from 2021 to 2028. Increasing demand for optimized and space efficient storage systems is also bolstering the growth. Growing population worldwide is remarkably impacting the demand for multiple product categories in automotive, pharmaceutical, retail, electronics, food & beverage, and many other industries. To cater to this enormously increasing demand, manufacturers have expanded their productions significantly. But increased production demands for the extensive requirement of storage spaces, efficient in terms of both occupied floor space and cost incurred. Warehouses, storage centers, and distribution centers play a vital role in maintaining stocks of consumer goods of various companies. Minimal damage to the product while storage, limited storage costs, and fast pick and drop of goods, are the factors that manufacturers and supply chain partners are opting for storage purposes as well as for further movement of goods.
In terms of type, the AutoStore segment accounted for the largest share of the APAC automated storage and retrieval system market in 2020. In terms of end user, Chemical segment is expected to the fastest growing segment over the forecast period.
A few major primary and secondary sources referred to for preparing this report on the are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report SSI SCHAEFER GROUP, Swisslog Holding AG, System Logistics Spa, Bastian Solutions
The Asia Pacific Automated Storage and Retrieval System Market is valued at US$ 525.04 Million in 2020, it is projected to reach US$ 1050.91 Million by 2028.
As per our report Asia Pacific Automated Storage and Retrieval System Market, the market size is valued at US$ 525.04 Million in 2020, projecting it to reach US$ 1050.91 Million by 2028. This translates to a CAGR of approximately 5.7% during the forecast period.
The Asia Pacific Automated Storage and Retrieval System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Automated Storage and Retrieval System Market report:
The Asia Pacific Automated Storage and Retrieval System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Automated Storage and Retrieval System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Automated Storage and Retrieval System Market value chain can benefit from the information contained in a comprehensive market report.
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