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Dublin, June 28, 2021 /PRNewswire/– “Automated Storage and Retrieval System (ASRS)-Global Market Track and Analysis” Report has been added to ResearchAndMarkets.com provide.
During the COVID-19 crisis, the global market for automated storage and retrieval systems (ASRS) is estimated to be US$6.8 billion By 2020, it is expected to reach the revised scale $10.5 billion By 2027, it will grow at a CAGR of 6.4% during the analysis period 2020-2027.
Unit load is one of the market segments analyzed in the report and is expected to grow at a compound annual growth rate of 5.9% to reach US$3.8 billion At the end of the analysis period. After an early analysis of the business impact of the pandemic and the economic crisis it triggered, the growth of the small load segment was re-adjusted to a revised 6.1% compound annual growth rate over the next 7 years. This segment currently accounts for 22.5% of the global automated storage and retrieval system (ASRS) market.
The U.S. will account for more than 23% of the global market in 2020, while China is expected to have a compound annual growth rate of 7.7% during 2020-2027
The U.S. Automated Storage and Retrieval System (ASRS) market is estimated to be $1.6 billion By 2020. The country currently accounts for 22.98% of the global market. China, The world’s second largest economy, is expected to reach the estimated market size $1.6 billion By 2027, the compound annual growth rate by 2027 will be 7.7%.
Other notable geographic markets include Japan with Canada, Is expected to grow by 5.3% and 5.9% respectively during 2020-2027.within Europe, Germany It is expected to grow at a compound annual growth rate of approximately 5.8%, while other European markets (as defined in the study) will reach $1.6 billion By 2027.
The vertical lift module market segment will occupy 15.8% of the market in 2020
In the global vertical lifting module field, United States, Canada, Japan, China with Europe It will drive the expected compound annual growth rate of 7.2% in this segment.The total market size of these regional markets is $827.8 million Will reach the projected scale by 2020 $1.3 billion At the end of the analysis period.
China Will continue to be the fastest growing…
The full story on Benzinga.com
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