Global Warehouse Racking Market Size To Exceed USD 16.56 Billion By 2032 | CAGR of 5.9%
Category: Construction & ManufacturingGlobal Warehouse Racking Market Size To Exceed USD 16.56 Billion By 2032
According to a research report published by Spherical Insights & Consulting, the Global Warehouse Racking Market Size is to grow from USD 9.29 Billion in 2022 to USD 16.56 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.9% during the projected period.
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Browse key industry insights spread across 200 pages with 150 market data tables and figures & charts from the report on "Global Warehouse Racking Market Size, Share, and COVID-19 Impact Analysis, By Product (Selective Pallet, Drive-in, Double Deep, Back Racking/Push-Back Rack, Pallet Flow Rack, Others), By Application (Automotive, Food & Beverages, Retail, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/warehouse-racking-market
A warehouse racking system is an equipment for storing products in a warehouse. Racking is a steel framework consisting up of beams, metal frames, and connectors. Common ways for installing and constructing warehouse racking systems include welding, clipping, and bolting. Warehouse racking systems of various types have become an integral component of warehouse operations and inventory needs. Warehouse racking assists in storage space optimization and increases storage capacity. It also enhances the organization of stored products. Product organization in the warehouse enhances order recognition, picking, and fulfilment. In automated warehouse racking systems, robots or other automated devices are utilised to carry and store products in warehouses. The increasing popularity of automated warehouse racking systems is expected to have a significant impact on the global warehouse racking market. Warehouse racking manufacturers are developing new and innovative automated warehouse racking systems that fulfil the needs of businesses of all sizes. This is expected to drive the global warehouse racking market in the coming years. The global warehouse racking sector is highly competitive, with several players providing a wide range of products and services. The market landscape is influenced by technological advancements, product innovation, price tactics, and the ability to meet consumer expectations.
COVID 19 Impact
The warehouse racking sector was severely impacted by the COVID-19 pandemic. The government's preventative lockdowns to prevent disease spread caused considerable disruptions in a range of industries and supply-chain sectors. The COVID-19 epidemic had a huge influence on the warehouse management system market as consumers migrated to online purchases. Online demand for food and beverages, necessities, and prescriptions surged, and all of these things were delivered in novel contactless ways. The necessity for warehousing was required by increased online demand for a wide range of products. As a result, the warehouse racking sector was predicted to boom during the epidemic.
The selective pallet segment dominates the market with the largest revenue share over the forecast period
Based on the product, the global warehouse racking market is segmented into selective pallet, drive-in, double deep, back racking / push-back rack, pallet flow rack. Among these, the selective pallet segment is dominating the market with the largest revenue share over the forecast period. Features such as simple design structure, provision for easy product handling, easy replacement of broken components, and adjustments of metal beams for different heights are propelling the selective pallet racking system market forward.
The retail segment is anticipated to grow highest share over the forecast period.
On the basis of application, the global warehouse racking market is segmented into automotive, food & beverages, retail, others. Among these, the retail segment is accounted to hold the highest growth over the forecast period. Food and beverage warehouses involve high-density storage with many low and high levels on a rail-based system. Increased investments and expansion plans in food and beverage warehouses and distribution centres throughout the world are accelerating the segment's growth.
North America dominates the market with the largest market share throughout forecast period.
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North America segment accounted for the largest market share over the forecast period 2023 to 2032. Increased demand for completely automated warehousing facilities is projected to create significant market opportunities throughout the projection period. Increasing e-commerce platforms permit consumers to buy more things online, resulting in the growth of warehouse infrastructure around the region. Rising construction activities in support of warehouse building, as well as the replacement of conventional methods used for storing and retrieving products in warehouses, are projected to support market expansion.
Asia Pacific, On the contrary, is expected to grow the fastest during the forecast period. Rapid industrialisation, urbanisation, and the development of a robust e-commerce sector have all occurred in the region. Countries such as China, India, and Southeast Asian Countries are experiencing tremendous growth in e-commerce activity, demanding the building of efficient warehouse and logistics infrastructure. The rising manufacturing sector, as well as increased investments in logistics and supply chain management, are all driving to the growth of the Asia Pacific warehouse racking market. The Europe market is expected to grow at a rapid pace during the forecast period.
Major vendors in the global warehouse racking market are Daifuku Co., Ltd., KION Group AG, Schaefer Holding International GmbH, Interroll Holding AG, Mecalux S.A., Jungheinrich AG, SSI Schaefer AG, Dematic, Frazier Industrial Company, Stocklin Logistik AG, Steel King Industries Inc., Elite Storage Solutions Inc., and several others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- On March 2023, Mecalux, a well-known manufacturer of warehouse racking solutions, has announced the establishment of a new manufacturing facility in Mexico. The facility is being constructed to meet the growing demand for warehouse racking solutions in the Americas.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global warehouse racking market based on the below-mentioned segments:
Captive Portal Market, Product Analysis
- Selective Pallet
- Drive-in, Double Deep
- Back Racking / Push-Back Rack
- Pallet Flow Rack
- Others
Captive Portal Market, Application Analysis
- Automotive
- Food & Beverages
- Retail
- Others
Captive Portal Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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