The global Warehouse Racking market size is expected to be worth around US$ 20.40 billion by 2030, according to a new report by Vision Research Reports.
The global Warehouse Racking market size was valued at US$ 9.64 billion in 2020 and is anticipated to grow at a CAGR of 4.7% during forecast period 2021 to 2030.
|Market Size||US$ 20.40 billion by 2030|
|Growth Rate||CAGR of 4.7% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Daifuku Co., Ltd.; Mecalux S.A.; Kardex Group; Hannibal Industries, Inc.; Emrack International; Jungheinrich AG; AK Material Handling Systems; SSI SCHAEFER Group; Dematic; Toyota Industries Corporation|
Rising demand for easy product accessibility, maximum space utilization, product and worker safety, convenient workability, and overall performance enhancement in the application industries is likely to benefit the market growth. In addition, the availability of manual and automatic rack servicing is projected to offer growth opportunities for the market.
Growing demand for capacity expansion in warehouses, coupled with the expanding online retail industry, is anticipated to benefit the market growth over the forecast period. Warehouse racking helps in optimizing the storage spaces and increases the storage capacity. In addition, it enhances the organization of the stored products. The systematic alignment of products in the warehouse makes it easier to identify, pick, and complete the order. In addition, it helps in minimizing the overall time.
By Product Analysis
The selective pallets segment led the market and accounted for more than 40.0% share of the global revenue in 2020. The system exhibits an inexpensive design having a large selection of sizes and accessories, making it excellent for standard storage and utility services.
The drive-in racking systems are expected to be driven by the increasing demand to store the products with the maximum density in the warehouse facility. This type of racking system eliminates aisles in a warehouse and provides an excellent solution for storing a large number of similar products in a limited space.
Cantilever racks are expected to witness significant growth over the forecast period owing to the ease of storage and retrieval of products with varying weights, sizes, and lengths.
Push-back racking systems are gaining popularity owing to their superior selectivity as different tracks are used for each stock-keeping unit (SKU), making them easier to find, re-locate, pick, or put away the required products.
By Application Analysis
The retail application segment led the market and accounted for more than 30.0% share of the global revenue in 2020. This is attributed to the increasing number of warehouses, online retail, supermarkets, hypermarkets, and others.
Food and beverage warehouses require high-density storage structures where the materials can be stored in multiple low and high levels on a rail-based system. Increasing investments and expansion plans in food and beverage warehouses and distribution centers across the globe are further propelling the growth of the market.
The automotive industry primarily focuses on mass production, hence bulk quantities of components, parts, and materials are needed to be stored in the inventory to carry out the assembly operations.
The demand for warehouse racking systems is expected to be driven by the growing product adoption in packaging applications. Major packaging companies such as International Paper Company, Amcor, Tetra Level, and Crown.
By Regional Analysis
North America dominated the market and accounted for over 25.0% share of the global revenue in 2020. This is attributed to the early adoption of the racking system in the region.
Europe is majorly involved in the advancement of automated warehouse product distribution facilities, which, in turn, is expected to positively impact the market growth over the forecast period.
Daifuku Co., Ltd.
Hannibal Industries, Inc.
AK Material Handling Systems
SSI SCHAEFER Group
Toyota Industries Corporation
Food & Beverage
Central & South America
Middle East & Africa
The Warehouse Racking market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Warehouse Racking market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Warehouse Racking market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Warehouse Racking market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Warehouse Racking market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Warehouse Racking capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Warehouse Racking by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Warehouse Racking market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Warehouse Racking market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Warehouse Racking market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Warehouse Racking industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Warehouse Racking market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Warehouse Racking market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Warehouse Racking market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Warehouse Racking market. These factors have benefited the growth of the global market for Warehouse Racking. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Warehouse Racking. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Warehouse Racking are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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