General Warehousing And Storage Market
Overview and Scope
General warehousing and storage refer to warehouses that act as storage for goods that will be sold or distributed later. These warehouses are specifically designed for the storage of facilities for general merchandise, refrigerated goods, and other warehouses products.
Sizing and Forecast
The general warehousing and storage market size has grown strongly in recent years. It will grow from $359.68 billion in 2023 to $387.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to industrialization and urbanization, expansion of global trade, e-commerce and supply chain evolution, regulatory compliance and safety standards, economic growth and consumerism.
The general warehousing and storage market size is expected to see strongly grown in the next few years. It will grow to $517.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to supply chain resilience, adoption of robotics and automation, sustainability and green warehousing practices, last-mile delivery solutions. Major trends in the forecast period include integration with advanced technologies, multi-channel distribution centers, flexible and scalable warehouse designs, collaborative warehousing models.
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Segmentation & Regional Insights
The general warehousing and storage market covered in this report is segmented –
1) By Type: Bonded Warehousing, Private Warehousing and Storage, and Warehousing (including foreign trade zones)
2) By Ownership: Private Warehouses, Public Warehouses, Bonded Warehouses
3) By End User: Manufacturing, Consumer Goods, Retail, Food and Beverages, IT Hardware, Healthcare, Chemicals, Other End Users
Asia-Pacific was the largest region in the general warehousing and storage market in 2023.The regions covered in the general warehousing and storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
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Major Driver Impacting Market Growth
The growth in the general warehousing and storage market is due to the growth in macroeconomic fundamentals such as export-import trade, retail industry, and industrial production index. An increase in the industrial production index is expected to propel the growth of the general warehousing and storage market going forward. Within a year, the industrial production index (IPI) measures levels of production and capacity in the manufacturing, mining, electric, and gas industries. Because of the increase in production in industries warehouses helps to store the finished goods. For instance, according to EMBARGO ADVISORY, an India-based government organization, for the year 2021 combined industrial production index of core industries stood at 143.1 in March, 2021, which increased by 6.8 % as compared to the index of march, 2020. Therefore, an increase in the industrial production index is driving the growth of the general warehousing and storage market.
Key Industry Players
Major companies operating in the general warehousing and storage market report are DHL International GmbH, Kuehne + Nagel International AG, Americold Realty Trust Inc., CEVA Logistics AG, Panalpina Welttransport (Holding) AG, Prologis Inc., Lineage Logistics Holdings LLC, CWT Limited, XPO Logistics Inc., GXO Logistics Inc., NFI Industries Inc., Ryder System Inc., DSV Panalpina A/S, SSI Schaefer LLC, Whirlpool Corporation, Saddle Creek Logistics Services LLC, APL Logistics Ltd., Jacobson Companies Inc., Kane Is Able Inc., Leggett & Platt Inc., Radial Inc., GEODIS S.A., Rhenus Group, ID Logistics S.A., Fulfillment Centers Inc., Verst Group Logistics Inc., Symbia Logistics LLC, Atlanta Bonded Warehouse Corporation, The Suddath Companies
The general warehousing and storage market report table of contents includes:
1. Executive Summary
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