NEW
YORK, June 17, 2024 /PRNewswire/ -- The
global warehouse racking market size is estimated to grow
by USD 2.14 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 6.21% during the forecast period. Changing consumer
preferences is driving market growth, with a trend
towards rising demand for retail space.
However, increasing competition among vendors in the market
poses a challenge. Key market players include AK Material Handling
Systems, AR Racking SAU, Beumer Group GmbH and Co. KG, Daifuku Co.
Ltd., DMW and H, FIVES SAS, FlexLink Holding AB, Gonvarri Material
Handling AS, Honeywell International Inc., Interroll Holding AG,
Jungheinrich Group, Kardex Holding AG, KION GROUP AG, Mecalux SA,
Murata Machinery Ltd., Russell Industries Inc., Saar Lagertechnik
GmbH, SSI Schafer IT Solutions GmbH, The Invicta Group, and Toyota
Industries Corp..
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Warehouse Racking
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
6.21%
|
Market growth
2024-2028
|
USD 2148.6
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.74
|
Regional
analysis
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 70%
|
Key
countries
|
China, US, Japan,
India, and Germany
|
Key companies
profiled
|
AK Material Handling
Systems, AR Racking SAU, Beumer Group GmbH and Co. KG, Daifuku Co.
Ltd., DMW and H, FIVES SAS, FlexLink Holding AB, Gonvarri Material
Handling AS, Honeywell International Inc., Interroll Holding AG,
Jungheinrich Group, Kardex Holding AG, KION GROUP AG, Mecalux SA,
Murata Machinery Ltd., Russell Industries Inc., Saar Lagertechnik
GmbH, SSI Schafer IT Solutions GmbH, The Invicta Group, and Toyota
Industries Corp.
|
Market Driver
The global retail market's expansion, driven by economic growth
and urbanization, is increasing the demand for warehouse racking.
Leading retailers like Walmart, Costco Wholesale, Kroger, and
Schwarz are contributing to this growth. E-commerce is a
significant factor, as consumers prefer shopping convenience.
Traditional retail stores sell various brands, but vendors and
retailers are expanding their reach, leading to increased demand
for warehouse racking. For instance, Max Hypermarket plans to open
five new stores annually in India.
This retail expansion will fuel the growth of the warehouse racking
market.
The warehouse racking market is experiencing significant growth
due to the increasing demand for efficient and automated storage
solutions. Racking systems, such as selective, pallet, and
automated storage and retrieval systems (AS/RS), are becoming
increasingly popular. These systems offer benefits like increased
storage density, improved productivity, and reduced labor
costs.
Additionally, the trend towards e-commerce and the need for
faster order fulfillment is driving the adoption of advanced
warehouse technologies like robotics and RFID. Furthermore, the use
of sustainable materials and energy-efficient designs is gaining
traction in the market. Overall, the warehouse racking market is
expected to continue its upward trajectory in the coming
years.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The warehouse racking market experiences intense competition
from regional and international players, leading to price wars that
could impact profit margins and potentially force smaller
businesses to exit.
- This market is characterized by price-driven competition, with
companies facing foreign exchange risks due to commercial
transactions and assets and liabilities in various currencies. Some
firms leverage lower labor costs or currency fluctuations to their
advantage. To mitigate competition, companies focus on
collaborations for efficiency and technology access. These factors
contribute to slow market growth during the forecast period.
- The warehouse racking market faces several challenges in
implementing and optimizing racking systems. These include the need
for durable and flexible racking solutions to accommodate various
product sizes and shapes. Additionally, the integration of
automation and technology, such as robotics and IoT sensors,
requires significant investment and expertise.
- Another challenge is ensuring compliance with safety
regulations and maintaining proper inventory management.
Furthermore, the increasing demand for sustainable and eco-friendly
racking systems adds to the complexity of the market. Overall, the
warehouse racking market requires innovative solutions to address
these challenges and meet the evolving needs of businesses.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
- End-user
- 1.1 Automotive industry
- 1.2 Food and beverage industry
- 1.3 Retail industry
- 1.4 Electrical and electronics and others
- Product
- 2.1 Selective pallets
- 2.2 Push back
- 2.3 Drive-in
- 2.4 Pallet flow
- 2.5 Cantilever and others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Automotive industry- The automotive industry
relies on efficient material handling to minimize errors and
maximize production. Shelving systems and mezzanine flooring are
popular solutions for storing small parts, offering quick access
and utilizing overhead space. The growing demand in the passenger
car and commercial vehicle segments is driving the need for racking
solutions. Global OEMs like BMW, Ford Motor, and Volkswagen are
expanding production facilities, boosting the automotive segment of
the warehouse-racking market.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Warehouse Racking Market encompasses the production, supply,
and installation of various types of racking systems, including
Pallet Racking, Vertical Frames, Horizontal Beams, and Shelving.
These systems are primarily constructed from steel beams, metal
frames, and connectors, which are often welded, clipped, or bolted
together.
Warehouses in the online retail industry, application
industries, and manufacturing sector utilize these racking systems
to optimize their storage spaces and increase storage capacity.
Space utilization is a significant factor in the economy, as
international trade relies heavily on efficient warehousing
solutions. Additionally, Pallet Flow Racks are gaining popularity
due to their ability to streamline the storage and retrieval
process.
Market Research Overview
The Warehouse Racking Market encompasses a variety of systems
and technologies designed for efficient storage and retrieval of
goods in warehouses and distribution centers. These racking systems
come in different types, including pallet racking, drive-in
racking, push-back racking, and automated storage and retrieval
systems (AS/RS).
The market is driven by factors such as increasing demand for
automated warehouse solutions, growing e-commerce industry, and the
need for space optimization and improved productivity.
Additionally, the integration of IoT and RFID technologies in
racking systems is a significant trend in the market. The materials
used in racking systems include steel, aluminum, and plastic, with
each material offering unique benefits in terms of cost,
durability, and weight capacity. The market is expected to grow at
a steady pace in the coming years due to the ongoing demand for
efficient and cost-effective warehouse solutions.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Automotive Industry
- Food And Beverage Industry
- Retail Industry
- Electrical And Electronics And Others
- Product
-
- Selective Pallets
- Push Back
- Drive-in
- Pallet Flow
- Cantilever And Others
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio