Europe Automated Storage and Retrieval System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type and End Users

The automated storage and retrieval system market in Europe is expected to grow from US$ 927.86 million in 2020 to US$ 1460.36 million by 2028; it is estimated to grow at a CAGR of 5.7% from 2021 to 2028. Surge in demand for optimized and space efficient storage systems is also bolstering the growth of the industry. Growing population worldwide is remarkably impacting the demand for multiple product categories in automotive, pharmaceutical, retail, electronics, food & beverage, and many other industries. To cater this enormously increasing demand, manufacturers have expanded their productions significantly. But increased production demands for the extensive requirement of storage spaces, efficient in terms of both occupied floor space and cost incurred. Warehouses, storage centers, and distribution centers play a vital role in maintaining stocks of consumer goods of various companies. Minimal damage to the product while storage, limited storage costs, and fast pick and drop of goods, are the factors that manufacturers and supply chain partners are opting for storage purposes as well as for further movement of goods.

The impact of COVID-19 differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict as well as longer lockdown periods or social isolation. However, Western European countries such as Germany, France, Russia, the UK have seen a comparatively modest decrease in their growth activities because of the strong healthcare system. To protect its citizens from the virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. Businesses across Europe have shifted from traditional to online businesses to carry on with their financial activities during the COVID-19 outbreak. This has increased the adoption of ecommerce among the European population. However, the companies have made much investments in technological advancements across the nations in the sector, thereby keeping the ASRS market unaffected the growth of the industry. Similarly, the manufacturing industry has not been spared. This is particularly true in Italy, which is currently the worst-affected country in Europe, with the government enforcing a national quarantine. Fiat Chrysler Automobiles (FCA) has agreed to spread out its factory closures. Three days are spent at three Fiat and Alfa Romeo plants, and two days are spent at other plants that assemble small Jeep and Fiat crossovers. Also, The German auto industry, which is dependent on Chinese supplies, is also in jeopardy. Development at Nissan's largest plant in the UK, in Sunderland, was halted this week, and others are expected to follow suit.

The E-commerce segment led the automated storage and retrieval system market based on End users in 2020. E-commerce is growing at a high pace, particularly in developing economies. ASRS enable the optimum utilization of space, which is one of the significant needs for any e-commerce company. E-commerce companies must maintain a large number of inventories for the proper flow of goods and to meet delivery time expected by their customers, making each shipping decision highly critical for these companies. ASRS aids in decreasing supervisory needs, thus enabling efficiency and helping companies to achieve faster deliveries. ASRS also helps the companies in reducing labor costs as most of the work is automated and minimizes the risk of product damage caused by human-related incidents. The rapid increase in the growth of e-commerce has resulted in a customer trend toward smaller orders, and companies are facing problem-related to the cost of packing and shipping these smaller or single orders. ASRS enables companies to easily accommodate the increases in single orders while utilizing automation to intensely decrease handling and packaging costs, which is ultimately drives the automated storage and retrieval system market
The overall Europe automated storage and retrieval system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe automated storage and retrieval system market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe automated storage and retrieval system market. SSI SCHAEFER GROUP, Swisslog Holding AG, System Logistics Spa, Daifuku Co. Ltd, Kardex Group, KNAPP AG, Mecalux, S.A., Autocrib, and Incare are among the leading companies in the Europe automated storage and retrieval system market.

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