ASRS For Garments On Hangers Market Size, Share, Trends, Insights And Forecast To 2033
Posted by Sushmitha on May 21st, 2024
Overview and Scope
Automated storage and retrieval system (ASRS) for garments on hangers refers to a sophisticated storage solution that utilizes automated technology to efficiently store and retrieve hanging garments in a warehouse or distribution center. This system is designed to maximize space utilization and streamline the handling of clothing items on hangers, enhancing overall efficiency in the supply chain.
Sizing and Forecast
The ASRS for garments on hangers market size has grown strongly in recent years. It will grow from .73 billion in 2023 to .9 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to rise of retail and e-commerce, growing environmental awareness, demand for tailored storage solutions, increasing emphasis on efficient space utilization and organization within warehouses, rising labor costs.
The ASRS for garments on hangers market size is expected to see strong growth in the next few years. It will grow to .6 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to rapid growth of fast fashion necessitates agile and efficient storage solutions, increasing demand for just-in-time inventory management, the rise of smart cities necessitates smart logistics solutions, increasing consumer demand for faster order fulfillment. Major trends in the forecast period include integration of AI and machine learning, customization options, robotics integration, adoption of modular designs, cloud connectivity, advancement in technology.
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Segmentation & Regional Insights
The ASRS for garments on hangers market covered in this report is segmented –
1) By Type: Garment Rail System, Garment Conveyor, Garment Property Storage, Other Types
2) By Load: Unit Load, Mid Load, Vertical Lift Module (VLM), Carousel, Mini Load
3) By Application: Warehousing And Logistics, Retail Third-Party Logistic (3PL), Hotels, Hospitals And Institutes, Other Applications
North America was the largest region in the ASRS for garments on hangers market in 2023. The regions covered in the ASRS for garments on hangers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising e-commerce industry is expected to propel the growth of the ASRS for the garments-on-hangers market going forward. The e-commerce sector refers to the online exchange of goods and services through the Internet. The E-commerce industry is driven by increased internet penetration, convenience, and changing consumer preferences favoring online shopping. ASRS for garments on hangers streamlines inventory management and boosts efficiency in e-commerce warehouses by enabling faster and more accurate processing of clothing orders. For instance, in November 2023, according to the International Trade Administration, a US-based Department of Commerce, the global B2C e-commerce revenue is expected to grow to .5 trillion by 2027 at a steady 14.4% compound annual growth rate. Additionally, the gross merchandise value (GMV) in 2023 was ,453 billion up from ,019 billion from 2022. Therefore, the rising e-commerce industry is driving ASRS for the garments-on-hangers market.
Key Industry Players
Major companies operating in the ASRS for garments on hangers market are Dematic Corporation, Daifuku Co. Ltd., Vanderlande Industries Holding B.V., KNAPP AG, Mainetti, Mecalux S.A., TGW Logistics Group GmbH, Bastian Solutions Inc., Vecna Robotics Inc., Kardex AG, J.S. Hanger, Whitmor, SSI SCHAEFER Systems International Holding AG, Interroll Group, M&B Hangers, Conveyco Technologies Inc., Henry Hanger, Bend & Hook, Swisslog Holding AG, Noega Systems S.L., Westfalia Technologies Inc., Geek+ Robotics (Beijing) Co. Ltd., Bend & Hook
The asrs for garments on hangers market report table of contents includes:
1. Executive Summary
2. Automated Storage And Retrieval System (ASRS) For Garments On Hangers Market Characteristics
3. Automated Storage And Retrieval System (ASRS) For Garments On Hangers Market Trends And Strategies
4. Automated Storage And Retrieval System (ASRS) For Garments On Hangers Market - Macro Economic Scenario
5. Global Automated Storage And Retrieval System (ASRS) For Garments On Hangers Market Size and Growth
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32. Global Automated Storage And Retrieval System (ASRS) For Garments On Hangers Market Competitive Benchmarking
33. Global Automated Storage And Retrieval System (ASRS) For Garments On Hangers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automated Storage And Retrieval System (ASRS) For Garments On Hangers Market
35. Automated Storage And Retrieval System (ASRS) For Garments On Hangers Market Future Outlook and Potential Analysis
36. Appendix
