HYDERABAD, India and MINNEAPOLIS, February 9, 2016 /PRNewswire/ --
According to the report "Automated Storage & Retrieval Systems Market - by Type (Unit Load, Mini Load, Micro Load, Others); by Equipment (Storage Aisles, S/R Machines); By Function (Order Picking, Storage, Others); By Applications (Automotive, Chemical, F&B, Others) - With Forecast (2016 - 2021)", published by IndustryARC, the automated storage & retrieval systems market is estimated to reach $8.44 Billion by 2021 at a high CAGR.
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Browse 15 Market Tables, 97 Figures spread through 185 Pages and an in-depth TOC on "Automated Storage & Retrieval Systems Market"
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Automated Storage and Retrieval systems refers to machinery which automates storage/ retrieval operations to ensure precision, accuracy and speed in performing storage and retrieval operations. As an extension of Material Handling Equipment, AS/RS eliminate human intervention in performing basic operations such as precise storage of an item to predefined location, removal of an item automatically, transferring the goods to specific processing or interface point and so on. AS/RS aids in increasing storage capacity, facilitates efficient floor space utilization and better labor productivity in logistic operations.
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The emergence of automated storage and retrieval systems has created a transformational change in industrial operations. AS/RS systems have the ability to carry any category of material, products and perform these functions in effective and organized manner. The range of products moved by automated storage and retrieval system varies from heavy metal components to small electronic components.
According to a recent study from IndustryARC, the Global Market for Automated Storage & Retrieval Systems was estimated to be $5.53 Billion in 2015. The automated storage and retrieval systems market is estimated to grow at a CAGR of 7.29% and is forecast to reach $8.44 Billion by 2021. The market growth is primarily being driven by the demand for Unit Load and Mini load AS/RS systems. Unit load AS/RS systems are the mostly widely used type contributing to around 28% of the overall market in 2015. These systems are designed to handle pallets of 1000 pounds or more and are basically used to buffer load between supply and consuming operations. Unit load AS/RS systems have applications in manufacturing and shipping industries.
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The fastest growing type of AS/RS systems are the vertical lift modules. These systems are ideally used for storing and picking small parts in ergonomic and compact way. They are used for saving the floor space and utilize the overhead spaces in the facility. Vertical load systems are mostly used in assembly plants.
The Market is analyzed by the following End User Verticals:
Following Key Players were also covered as part of the market landscape analysis:
APAC region emerged out to be the global market leader for AS/RS market in 2015 and is estimated to remain the market leader throughout the forecast period followed by Europe and Americas. The market in APAC region is led by China which contributed to nearly 34% of overall market APAC AS/RS market in 2015.
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