DUBLIN--(BUSINESS WIRE)--The "North America Automated Storage and Retrieval System (ASRS) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The North America Automated Storage and Retrieval System (ASRS) market was valued at USD 3809.9 million in 2020 and is expected to reach USD 5864.6 million by 2026, at a CAGR of 9.01% over the forecast period 2021 - 2026.
Growing competition from the nations in Latin America, Europe, and Asia-Pacific has forced the industries to automate their storage and for the retrieval activities in their processes. The need for the supply chain to be equally efficient has made third party logistics, warehouses, and distribution centers to be automated.
The rapid growth of e-commerce is driving the demand for automated warehouses in the region and steadily increasing labor costs is another contributing factor.
North America is one of the largest markets for automated storage and retrieval systems (ASRS) in the world, led by the United States. The region's manufacturing sector, which is a huge source of demand for the ASRS solutions, hinges on the dominant US economy, which accounts for 82% of the region's economic output.
The country also has a high trading profile, especially with neighboring countries like Canada and Mexico. In fact, the United States is by far the largest trading partner for both Mexico and Canada, accounting for almost 80% of each country's exports annually. Owing to such high import and export activities in the country, coupled with the highly active e-commerce sector, the need for warehouse space in the country has grown over the past few years.
Other prominent factors, such as steady growth in wages paid to workers in the country, have made warehouse operators look forward to the alternate solutions for warehouse management and are expected to drive the demand for automation in several end-user industries that are highly dependent on the workforce, such as manufacturing and retail, among others.
Furthermore, the United States, over the forecast period, is expected to witness strong growth in a number of domestic robotic solutions, owing to the Trump's government policies that aim at increasing domestic production rather than importing finished goods.
Competitive Landscape
The North American automated storage and retrieval system market is consolidated and covered by few major players. Vendors provide deep product portfolio catering to the customers needs in the region. Key players include Daifuku Co. Ltd, Schaefer Holding International Gmbh, Dematic Group - KION Group AG, Murata Machinery Ltd, Mecalux SA, etc.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers
4.3 Market Drivers
4.3.1 Rapid Growth of E-commerce, Leading to Warehouse Automation
4.3.2 Increasing Concerns about Labor Costs
4.4 Market Restraints
4.4.1 High Cost Involved In Installation of Infrastructure
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Fixed Aisle (Stacker Cranes and Shuttle Systems)
5.1.2 Vertical Lift Modules (VLM)
5.1.3 Carousel (Horizontal and Vertical)
5.2 By End-User Industries
5.2.1 Airports
5.2.2 Automotive
5.2.3 Food and beverage
5.2.4 General manufacturing
5.2.5 Retail
5.2.6 Other end-users
5.3 Country
5.3.1 United States
5.3.2 Canada
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Daifuku Co. Ltd
6.1.2 Schaefer Holding International Gmbh
6.1.3 Dematic Group (KION Group AG)
6.1.4 Murata Machinery Ltd
6.1.5 Mecalux SA
6.1.6 Honeywell Intelligrated
6.1.7 Swisslog AG
6.1.8 Knapp AG
6.1.9 Kardex Remster
6.1.10 Bastian Solutions Inc.
6.1.11 Viastore Systems Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/t1xse8.
