Global Automated Storage and Retrieval Systems Market 2019-2023
About this market
Increasing warehouse rental to gain traction in the market. The yearly growth of warehouse rental is consistently increasing across various global countries. among all the regions, Europe countries are recording a higher growth in warehouse rental. Technavio’s analysts have predicted that the automated storage and retrieval systems market will register a CAGR of over 7% by 2023.
Expanding warehouse space in Europe
European countries have been focusing on warehouse expansion. The growing opportunities from the pharmaceutical and automation industries in Europe is expanding the warehouse space.
Volatility in raw material prices
Steel is one of the prominent raw materials used in storage systems. Since steel is extracted from iron ore, so the change in price of iron will directly reflect the steel price, which will negatively impact the market.
For the detailed list of factors that will drive and challenge the growth of the automated storage and retrieval systems market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including SSI SCHAEFER, and Vanderlande Industries the competitive environment is quite intense. Factors such as the expanding warehouse space in Europe and the increasing warehouse rental, will provide considerable growth opportunities to automated storage and retrieval systems manufactures. BEUMER GROUP, Daifuku, KION GROUP, SSI SCHAEFER, and Vanderlande Industries are some of the major companies covered in this report.