Vertical Lift Module VLM Carousel-Based Automated Storage Retrieval Systems ASRS Market Analysis

Global Vertical Lift Module (VLM) And Carousel-Based ASRS Market Overview

Global Vertical Lift Module (VLM) And Carousel-Based ASRS Market Size was valued at USD 2,977.1 Million in 2022. The Vertical Lift Module (VLM) And Carousel-Based ASRS Market industry is projected to grow from USD 3,291.0 Million in 2023 to USD 6,194.9 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.3 % during the forecast period (2023 - 2032).  Rising demand for the optimum utilization of space, enhanced inventory management, and cut down costs and growing demand for ASRS in automotive industry is driving the demand for global Vertical Lift Module (VLM) And Carousel-Based ASRS Market.

FIGURE 1: GLOBAL VERTICAL LIFT MODULE (VLM) AND CAROUSEL-BASED ASRS MARKET, 2018 - 2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Vertical Lift Module (VLM) And Carousel-Based ASRS Market Opportunity

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  Growing Demand For ASRS In Automotive Industry

  
  

The automobile sector uses cutting-edge technologies called Automated Storage and Retrieval Systems (ASRS) to organize warehouse operations. To effectively manage inventories and boost overall productivity, these systems make use of robotics, conveyors, and software. Space optimization is a significant benefit of ASRS in the automotive industry. High-rise racking solutions are used by ASRS to efficiently use vertical warehouse space. This makes it possible for auto makers to store a lot of parts and components in a small space. Better inventory control is a further advantage. ASRS systems continuously track stock levels, locations, and movements of automobile parts using cutting-edge tracking and inventory control techniques. This lowers mistakes and guarantees effective inventory restocking, which boosts productivity and enhances customer service. Thus, the demand is expected to increase.

Vertical Lift Module (VLM) And Carousel-Based ASRS Market Segment Insights:

Vertical Lift Module (VLM) And Carousel-Based ASRS Type Insights

Based on type, the Global Vertical Lift Module (VLM) And Carousel-Based ASRS Market segmentation includes carousel based, and vertical lift module (VLM) ASRS. Carousel based segment is dominating the market and is expected to grow at a CAGR of 7.3%. Carousel Systems, also known as Goods to Person, are very successful systems that find and show a variety of items to operators in a fixed position. This Goods to Person (G2P) technology enable high-productivity pick rates by fetching products and delivering them to the operator with minimal to no mistake. There are numerous arrangements that are vertically or horizontally based. Carousels save space and time by moving the racks instead of the person seeking and collecting goods from the racks. Many developments in Carousel systems have occurred in recent years, making this warehouse automation technology easier to implement, scale, and more economical than in the past.

Furthermore, Carousel based is further divided into Vertical Carousel and Horizontal Carousel. Horizontal Carousel is expected to grow at a highest CAGR during the forecast period.

FIGURE 2: GLOBAL VERTICAL LIFT MODULE (VLM) AND CAROUSEL-BASED ASRS MARKET, BY TYPE, 2022 & 2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Vertical Lift Module (VLM) And Carousel-Based ASRS Industry Vertical Insights

Based on Industry Vertical, the Global Vertical Lift Module (VLM) And Carousel-Based ASRS Market segmentation includes Automotive, Metals And Machinery, Food & Beverages, Chemicals, Healthcare, Semiconductor & Electronics, Retail & Ecommerce, Aviation, and Others. Automotive accounted for the largest market share with a market value of USD 593.4 Million in 2022 and is projected to grow at a CAGR of 7.3%, whereas Retail & Ecommerce exhibited the highest CAGR of 8.6% during the forecasted period.

In the auto sector, ASRS provides the following advantages:

Space optimization: By utilizing high-rise racking systems, ASRS systems may utilize vertical space in warehouses as efficiently as possible. This enables auto manufacturers to store a lot of parts and components in a little amount of space.

Better inventory control: ASRS systems reliably track stock levels, locations, and movements of automotive parts using cutting-edge tracking and inventory control systems. As a result, productivity and customer service are enhanced by lowering errors and ensuring effective inventory replenishment.

Vertical Lift Module (VLM) And Carousel-Based ASRS Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In terms of revenue, North America held the largest share of 37.45% in the Vertical Lift Module (VLM) And Carousel-Based ASRS Market in 2022 and is expected to maintain its dominance during the forecast period.  

North America, comprising the US, Canada, and Mexico, stands out as a hub for technological advancements. The region's robust manufacturing sector remains a primary driver of wealth, employment, and innovation. The rising adoption of IoT technology in the US, particularly in conjunction with automated storage solutions, is saving time and costs. IoT-integrated automated storage systems enable remote monitoring, real-time reporting, swift error recovery, and increased productivity. The presence of numerous omnichannel vendors across the nation makes them significant customers for ASRS material handling solutions, with e-commerce businesses driving strong demand due to their high throughput fulfillment needs. The United States, with its thriving retail market, plays a pivotal role, as retail sales contribute substantially to the nation's GDP, with e-commerce sales outpacing traditional retail growth. The competition between online and omnichannel retailers intensifies as automation emerges as a key differentiator. Overall, North America's well-established and vast retail sector, predominantly led by omnichannel vendors, underscores the region's growing importance in the utilization of material handling solutions like ASRS.

FIGURE 3: GLOBAL VERTICAL LIFT MODULE (VLM) AND CAROUSEL-BASED ASRS MARKET SIZE BY REGION 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe has emerged as a leader in industrial automation, with over a third of global Industry 4.0 investments made in the region, driven by countries like Germany. Automation in Northern Europe's warehouses has thrived due to working conditions and labor costs, supported by companies like System Logistics. The need for efficiency and a shortage of skilled labor are accelerating automation adoption. Germany, in particular, is seeing increased use of industrial robots due to expanding industries, cross-border e-commerce, and a focus on safety regulations. While other European countries have smaller demands for ASRS, the UK's manufacturing sector remains optimistic despite Brexit uncertainties.

The Asia-Pacific region, including countries like Japan, India, China, and Indonesia, has witnessed a significant transformation in manufacturing, with a focus on innovation accelerators like cloud, mobile tech, and robotics. Rising e-commerce and manufacturing industries have led to increased demand for warehouse space and automation adoption. IoT integration and pick-by-light technology are enhancing automated storage systems. Robotics and ASRS technology are being combined to streamline operations. Government initiatives like Make-in-India are promoting manufacturing, and cold storage warehousing is expanding, especially in China and India. The retail sector in countries like China and India is a significant driver of ASRS adoption. Initiatives like Skill India and Industry 4.0 are further fueling the growth of factory automation systems in the region.

Vertical Lift Module (VLM) And Carousel-Based ASRS Key Market Players & Competitive Insights

The market for vertical lift modules (VLM) and carousel based ASRS is experiencing rapid growth and intense competition as organizations increasingly recognize the benefits of automation in warehouse and distribution operations. The report provides an analysis of the competitive landscape within the vertical lift module (VLM) and carousel-based ASRS market industry, focusing on key players, market share, product offerings, technological advancements, and strategic initiatives. The competitive landscape of Vertical Lift Module (VLM) and Carousel-Based ASRS Market is characterized by a mix of established players with a strong market presence and innovative startups that are disrupting the industry with novel solutions. Understanding the competitive dynamics within the vertical lift module (VLM) and carousel-based ASRS market is essential for businesses and investors to make informed decisions and stay ahead in this dynamic and evolving sector. The rising demand for the optimum utilization of space, enhanced inventory management, and cut down costs, growing demand for ASRS in automotive industry, and rising use in retail supply-chain multichannel are key factors that drive the market growth. A high initiation investment costs hinders the growth of vertical lift module (VLM) and carousel-based ASRS Market.

Key Companies in the Vertical Lift Module (VLM) And Carousel-Based ASRS Market include

• SSI SCHAEFER


• Bastian Systems


• Vanderlande


• Hänel Storage Systems


• Mecalux S.A.


• THE BEUMER GROUP GMBH & CO. KG


• Daifuku Co. Ltd


• Kardex


• Autocrib


• Vidir Solutions, Inc.


• Modula Inc.


• Ferretto Group SP.A.


• PeakLogix (Alta Equipment Holdings, Inc.)


• Conveyco Technologies


• Systec Group

Vertical Lift Module (VLM) And Carousel-Based ASRS Industry Developments

• In May 2023, Bastian Solutions, a Toyota Advanced Logistics subsidiary, has announced the inauguration of a new manufacturing site near Bangalore, Karnataka. Bastian's first production plant in India is planned to be completely operational by October 2023. The new production facility at Bastian Solutions is approximately two acres in size, and the site's initial employment efforts will focus on mechanical and electrical engineers to support manufacturing, significantly extending the company's workforce in the country. The plant will be located in the Indospace region just outside of Bangalore, offering an ideal position for distribution throughout the country.


• In March 2023, PeakLogix announce its partnership with Peer Robotics to bring innovative robots to the material handling industry.


• In October 2022, Conveyco Technologies introduced Stacker-Bot Autonomous Mobile Robot AMR AS/RS Provides High Density Tote Goods-to-Person. The Stacker-Bot autonomous mobile robot AMR system is a new solution that offers a cost-effective and flexible alternative to Automated Storage and Retrieval Systems (AS/RS) applications.

Vertical Lift Module And Carousel Based Automated Storage and Retrieval Systems Market Segmentation

Vertical Lift Module (VLM) And Carousel-Based ASRS Type Outlook

• Carousel Based
  
  
  
  • Vertical Carousel
  
  
  • Horizontal Carousel
  
  
  
  


• Vertical Lift Module (VLM) ASRS

Vertical Lift Module (VLM) And Carousel-Based ASRS Industry Vertical Outlook

• Automotive


• Metals And Machinery


• Food & Beverages


• Chemicals


• Healthcare


• Semiconductor & Electronics


• Retail & Ecommerce


• Aviation


• Others

Vertical Lift Module (VLM) And Carousel-Based ASRS Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • GCC Countries
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa
  
  
  
  


• South America
  
  
  
  • Chile
  
  
  • Brazil
  
  
  • Rest of South America