The global warehouse racking market is estimated to expand at a CAGR of 3.7% over the forecast period, reaching US$ 10.3 Bn by 2032. The global logistics industry comprises a wide range of freight and cargo-related transportation sectors.
Sales of warehouse racking systems are likely to be driven by the integration of material handling, warehousing, packing, transportation, inventory management, supply chain management, procurement, and shipping security.
Furthermore, the need for warehouse racking systems is being fueled by the requirement for flexible material storing and stacking designs with enhanced safety features and resource efficiency. Furthermore, the expansion of the e-Commerce industry is propelling the market forward.
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As technology advances, new ways to make operations easier are presented. Because of inventive approaches and practical solutions, smart storage ideas are gaining acceptance. With the correct kind of training in automated solutions, a warehouse management system might be substantially more successful, allowing employees to be more productive even when working at a high intensity.
Upgrading, modifying, or relocating storage systems in accordance with changing business needs is another significant consideration. This is compelling manufacturers to employ racking systems, such as drive-in pallet racks and structural selective pallet racks, thereby augmenting the growth in the market.
“Growing need for quick product accessibility, maximum space utilisation, product and worker safety, convenient workability, and overall performance enhancement is expected to drive the market. Furthermore, the availability of both manual and automatic rack servicing is expected to boost sales in the forthcoming years,” says the FMI analyst.
Key Takeaways:
- Rapid expansion of the ecommerce sector will drive the India warehouse racking market at a 6.7% CAGR through 2032.
- Sales in the U.S. warehouse racking market will increase at a 2.2% CAGR, dominating the North America market.
- The U.K. will emerge as a lucrative market, with sales growing at a 4.1% CAGR over the assessment period.Based on the product type, sales in the drive-in pallet market are projected to grow at a 3.1% CAGR over the forecast period.In terms of application, demand in the retail segment will rise at a 2% CAGR through 2032.
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Competitive Landscape
Daifuku, SsiSchaefer, Interroll, Dematic, Vanderlande, AK Material Handling Systems, Beumer, Constructor, Dmw&H, Godrej Storage Solutions, Warehouse Rack & Shelf LLC., and Steel King Industries, Inc. among others are some players operating in the
Leading players operating in the warehouse racking market are employing smart promotional strategies, advertisements, and new product launches to gain a competitive edge in the market.
More Insights into the Warehouse Racking Market Report
Future Market Insights, in its new offering, provides an unbiased analysis of the global warehouse racking market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the warehouse racking market based on the product type (roll formed selective pallet rack, structural selective pallet rack, push back pallet rack, drive in pallet rack) application (automotive, food & beverage, retail, packaging, manufacturing) across seven major regions.
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