The ASRS Market was valued at USD 7.3 billion in 2020 and is likely to reach USD 12.5 billion by 2027, at a CAGR of 8 % from 2020 to 2027.
The e-commerce industry is experiencing a boom owing to the unprecedented rise in the number of online shoppers post the outbreak of COVID-19. The enforcement of social distancing norms, lockdowns, and other measures in response to the COVID-19 pandemic has led consumers to opt for online shopping. This has resulted in a spike in business-to-consumer (B2C) sales as well as an increase in business-to-business (B2B) e-commerce. The increase in B2C sales is particularly evident in online sales of pharmaceuticals, household goods, and food. However, such huge growth in the e-commerce industry has exerted immense pressure to deliver items on time. In the current scenario, the e-commerce industry is continuously under the pressure of procuring and delivering a huge number of articles within the stipulated time; thus, e-commerce companies have adopted automation in their facilities.
Due to the onset of COVID-19, governments have allowed a limited number of employees to work in various facilities. This has led to the unavailability of workforce to perform quality control, inspections, and maintenance operations. As ASRSs require technically sound experts to be operated, the current situation has caused hindrance to the smooth functioning of these systems. Some MSMEs are expected to use conventional ways of storage and retrieval until the COVID-19 situation is handled.
The frozen food market is expected to witness substantial growth in APAC in the coming years. The increased popularity of chilled and frozen foods in APAC reflects changing food preferences as consumers become more affluent; this is leading to the expansion of the infrastructure to support cold chain operations in the region. The growth of the cold chain sector can be largely attributed to globalization, which enables the import and export of perishable foods, technological advancements in cold chain storage and transport, and growing acceptance of frozen foods among consumers. The latest generation of ASRS provides a uniquely flexible and modular design, which has multi-load remote pallet handling capability, ideal for deep-freeze warehouse automation at its coldest (28C).
The ASRS players have implemented various types of organic as well as inorganic growth strategies, such as contracts and collaborations, product launches, acquisitions, and expansions, to strengthen their offerings in the market. Daifuku (Japan), Kardex (Switzerland), Murata Machinery (Japan), SSI Schaefer (Germany), TGW Logistics (Austria), KION (Germany), KUKA (Germany), Toyota Industries (Japan), BEUMER (Germany), KNAPP (Austria), Mecalux (Spain), and (Italy) are the players in the ASRS market.
The ASRS market in APAC, led by China and Japan, is expected to grow at the highest rate during the forecast period. The rapid growth of automotive, food & beverages, and healthcare industries in emerging economies such as China, Japan, Australia, and South Korea has contributed to the growth of the ASRS market in APAC. Due to the outbreak of COVID-19, the APAC region is suffering tremendous economic losses. Chinathe manufacturing hub of Asiahas suspended most of its production activities. Various warehouses in the country are closed due to the lack of manufacturing and unavailability of workforce. The COVID-19 pandemic has disrupted the supply chain of various industries. This has led to the temporary decrease in demand for ASRS
Report : Automated Storage and Retrieval System Market - By Type (Unit Load, Mini Load, Vertical Lift Module (VLM), Carousel, Mid Load), By Function (Storage, Order Picking, Distribution, Assembly, Kitting, Others), By Industry (Automotive, Metals & Heavy Machinery, Food & Beverages, Chemicals, Healthcare, Semiconductor & Electronics, Retail, Aviation., E-commerce) and By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, opportunity and Forecast 2020 To 2027