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Global Automated Storage and Retrieval System Market to Grow from $7.6 Billion in 2019 to $11 Billion by 2024, at a CAGR of 7.7% - ResearchAndMarkets.com

May 7, 2019

DUBLIN--(BUSINESS WIRE)--May 7, 2019--The “Automated Storage and Retrieval System (ASRS) Market by Type (Unit Load, Mini Load, VLM, Carousel, Mid Load, Autostore), Function (Assembly, Kitting, Order Picking, Distribution, Storage), Industry, and Geography - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The automated storage and retrieval system market is estimated to grow from USD 7.6 billion in 2019 to USD 11 billion by 2024, at a CAGR of 7.7%.

The key factors driving the growth of the market include the increasing demand for ASRS in the automotive industry; optimum utilization of space and rise in labor costs; and improved accuracy, productivity, and efficiency in the supply chain, along with better inventory control.

However, the requirement for large initial investment and need for technical expertise and periodic training are the key restraining factors for market growth.

Key players in the ASRS market are Daifuku (Japan), Murata Machinery (Japan), SSI Schaefer (Germany), TGW Logistics Group (Austria), and Kardex Group (Switzerland), among others. These companies have adopted key strategies such as contracts, acquisitions, product launches, and expansions & partnerships to expand their business operations and customer base worldwide.

Autostore ASRS to witness high growth potential during the forecast period

The auto store ASRS market is expected to grow at the highest CAGR during the forecast period. Autostore allows complete configurability and flexibility. In this system, bins are stacked vertically in a cube like a grid and are retrieved by robots that travel to the top layer of the system. This makes it possible for the grid to be placed around columns, on mezzanines, and on multiple levels.

The system can also be easily expanded and modified because of this design. An auto store ASRS is an innovative storage solution developed by the Hatteland Group. Hatteland forms strategic alliances with companies such as Swisslog, Bastian solutions, Dematic, and Hormann Logistik to serve customers.

ASRS market for order picking to grow at highest CAGR during the forecast period

The ASRS market for order picking is expected to grow at the highest CAGR during 2019-2024. Order picking is widely used in healthcare, food & beverages, retail, and e-commerce. Growing competition in these industries is enforcing companies to reduce their delivery time, which is fuelling the demand for ASRS for order picking function.

Order picking process includes retrieving and presenting the required inventory to pickers. It is a logistic warehouse’s process that involves collecting and taking inventory in specified quantities. These quantities are specified based on customer orders. Order picking is mainly classified into piece picking, zone picking, wave picking, sorting system, and pick to box method.

Europe to be the largest market for automated storage and retrieval system during the forecast period

Europe is expected to lead the automated storage and retrieval system market, in terms of size, from 2019 to 2024. The ASRS market in Europe is driven by countries such as Germany, the UK, and France.

The significant investments in automated material handling equipment by automotive players and rising installations of automated equipment in European countries owing to diversified distribution channels in industries such as automotive, chemicals, healthcare, and food & beverages are contributing to the growth of the market in this region.

The presence of a large number of key players in this region, along with a large customer base, is among the major factors driving the ASRS market in Europe. Automotive in Germany is among the biggest industries across the world, and this industry is a major market for ASRS in Europe.

Key Topics Covered

1 Introduction

1.1 Study Objectives

1.2 Definition

1.3 Scope of the Study

1.4 Currency

1.5 Limitations

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Secondary & Primary Research

2.3 Market Size Estimation

2.4 Market Breakdown & Data Triangulation

2.5 Research Assumptions

3 Executive Summary

4 Premium Insights

4.1 Automated Storage and Retrieval System Market, 2019-2024 (USD Billion)

4.2 Automated Storage and Retrieval System Market, By Type

4.3 Automated Storage and Retrieval System Market, By Function

4.4 Automated Storage and Retrieval System Market, By Industry

4.5 Automated Storage and Retrieval System Market, By Geography

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increasing Demand in Automotive Industry

5.2.1.2 Demand for Optimum Utilization of Space and Increasing Labour Costs

5.2.1.3 Improved Accuracy, Productivity, and Efficiency in Supply Chain Along With Improved Inventory Control

5.2.2 Restraints

5.2.2.1 Large Initial Capital Investments

5.2.2.2 Suitable Only for Non-Variable Operations

5.2.2.3 Technical Expertise and Periodic Training is A Must

5.2.3 Opportunities

5.2.3.1 Emergence of Mid-Load and Pallet Shuttle Technologies

5.2.3.2 Rising Demand for Automation in E-Commerce Industry

5.2.3.3 Growing Demand for Cold Chain ASRS in APAC

5.2.4 Challenges

5.2.4.1 Technical Glitches Halt Entire Operational Process and Increase Downtime

5.2.4.2 Providing Flexible and Scalable Solutions

5.3 Value Chain Analysis

6 Automated Storage and Retrieval System Market, By Type

6.1 Introduction

6.2 Unit Load

6.3 Mini Load

6.4 Vertical Lift Module

6.5 Carousel

6.6 Mid Load

6.7 Autostore

7 Automated Storage and Retrieval System Market, By Function

7.1 Introduction

7.2 Storage

7.3 Order Picking

7.4 Distribution

7.5 Assembly

7.6 Kitting

7.7 Others

8 Automated Storage and Retrieval System Market, By Industry

8.1 Introduction

8.2 Automotive

8.3 Metals & Heavy Machinery

8.4 Food & Beverages

8.5 Chemicals

8.6 Healthcare

8.7 Semiconductor & Electronics

8.8 Retail

8.9 Aviation

8.10 E-Commerce

8.11 Others

9 Geographic Analysis

9.1 Introduction

9.2 North America

9.3 Europe

9.4 APAC

9.5 RoW

10 Competitive Landscape

10.1 Overview

10.2 Ranking of Players in Automated Storage and Retrieval System Market

10.3 Microquadrant Overview

10.3.1 Visionaries

10.3.2 Innovators

10.3.3 Dynamic Differentiators

10.3.4 Emerging Companies

10.3.5 Strength of Product Portfolio Adopted By Major Players in Automated Storage and Retrieval System Market

10.3.6 Business Strategy Excellence Adopted By Major Players in Automated Storage and Retrieval System Market

10.4 Competitive Situations & Trends

10.4.1 Contracts

10.4.2 Expansions & Partnerships

10.4.3 Acquisitions

10.4.4 Product Launches

11 Company Profiles

11.1 Key Players

11.1.1 Daifuku

11.1.1.1 Business Overview

11.1.1.2 Products Offered

11.1.1.3 Recent Developments

11.1.1.4 SWOT Analysis

11.1.2 Kardex Group

11.1.3 Murata Machinery

11.1.4 SSI Schaefer

11.1.5 TGW Logistics Group

11.1.6 Bastian Solutions

11.1.7 Beumer Group

11.1.8 Dematic

11.1.9 Knapp

11.1.10 Mecalux

11.1.11 Swisslog

11.1.12 System Logistics Corporation

11.1.13 Vanderlande Industries

11.2 Other Key Players

11.2.1 Automation Logistic Corporation

11.2.2 Autostore

11.2.3 Haenel Storage System

11.2.4 IHI Corporation

11.2.5 MIAS (Maschinenbau, Industrieanlagen & Service)

11.2.6 Sencorpwhite

11.2.7 Westfalia Technologies

For more information about this report visit https://www.researchandmarkets.com/r/pgktg2

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Related Topics:Material Handling Equipment

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY MANUFACTURING OTHER MANUFACTURING

SOURCE: Research and Markets

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PUB: 05/07/2019 06:12 AM/DISC: 05/07/2019 06:12 AM

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