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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 products.
During the COVID-19 crisis, the global market for Automated Storage and Retrieval Systems (ASRS) is estimated to be US$6.8 billion in 2020, and is expected to reach a revised US$10.5 billion by 2027, with a compound annual growth rate of 6.4% in 2020- The analysis period in 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% by the end of the analysis period, reaching USD 3.8 billion. 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 compound annual growth rate of 6.1% in 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
By 2020, the automated storage and retrieval system (ASRS) market in the United States is estimated to be $1.6 billion. The country’s current share of the global market is 22.98%. China is the world's second largest economy, and its market size is expected to reach USD 1.6 billion by 2027, with a compound annual growth rate of 7.7% by 2027.
Other notable geographic markets include Japan and Canada, which are expected to grow by 5.3% and 5.9% respectively during 2020-2027. In Europe, Germany 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 market segment, the United States, Canada, Japan, China and Europe will drive the segment’s expected compound annual growth rate of 7.2%. The total market size of these regional markets in 2020 is US$827.8 million, and by the end of the analysis period, the size is expected to reach US$1.3 billion.
China will remain one of the fastest growing countries in this regional market cluster. Driven by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$1.2 billion by 2027, while Latin America will grow at a compound annual growth rate of 8% during the analysis period.
Key topics covered: I. Method II. Executive Summary 1. Market overview
2. Focus on selected players (104 selected players in total)
4. Global Market Outlook III. US Market Analysis
United Kingdom Spain Russia Rest of Europe Asia Pacific
South Korea, Asia Pacific, other regions of Latin America, Brazil, other regions of Latin America, the Middle East
For more information about this report, please visit https://www.researchandmarkets.com/r/oshths
Research and Marketing Laura Wood, Senior Manager [email protected] Call 1-917-300-0470 during US Eastern Time Office Hours, US/Canada Toll Free 1-800-526-8630 GMT Office Hours, Call 353-1-416-8900 US Fax: 646-607-1904 Fax (Outside the US): 353-1-481-1716
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