The Warehouse Racking Market is valued at USD 9.11 billion in 2022 and is projected to reach a value of USD 12.96 billion in 2030 expanding at a CAGR of 4.5% over the forecast period of 2022-2030.
A system called warehouse racking is created specifically for storing goods in a warehouse. A steel structure called racking could have connectors, metal frames, and beams. Welding, clipping, and bolting techniques are frequently used to assemble and build warehouse racking systems. Different types of warehouse racking systems are now an essential component of a warehouse’s operations and inventory needs. Making the best use of warehouse floor space, increasing worker productivity, and lowering inventory handling expenses are the main goals. A variety of pallet systems are being used by different businesses because they best suit their requirements for warehouse design, the types of goods and materials kept, capacity anticipated, and consequently the particular picking procedure used.
These factors are taken into account while choosing the materials from which pallets should be constructed. The potential for the Warehouse Racking Market has increased thanks to developments in the material handling systems used in warehouses. The Warehouse Racking Market uses a variety of pallet systems, including drive-in/drive-out rack, double deep, pallet flow rack, and selected pallet rack.
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Warehouse Racking Market- Key Market Trends
• The rising awareness about the benefits of systematic storage and easy material handling processes has benefitted the warehouse racking market over the forecast period.
• Additionally, rapid urbanization has boosted the expansion of the ecommerce sector. Traditional brick-and-mortar retailers are adopting ecommerce channels to provide better services such as timely delivery, a wide range of products and to improve the customer experience.
Warehouse Racking Market- Segmentation
The Warehouse Racking Market is segmented into Product and application.
Based on Product
• Selective Pallet
• Drive-in
• Push Back
• Pallet Flow
• Cantilever
• Others
Based on Application
• Automotive
• Food and Beverage
• Retail
• Packaging
• Manufacturing
• Others
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Warehouse Racking – Regional Segmentation
The Warehouse Racking is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of the presence of a robust and well-established distribution network. Also, the timely movement of goods and a cost-effective racking system has boosted the market growth in the region.
Warehouse Racking – Key Market Players
Some of the major companies that are operating in the market are Daifuku Co., Ltd.; Mecalux S.A.; Kardex Group; Hannibal Industries, Inc.; EMRACK INTERNATIONAL; Jungheinrich AG; AK Materials Handling Systems; SSI SCHAEFER Group; Dematic; Toyota Industries Corporation.
One of the key elements driving market expansion is the rising demand for packaged foods and beverages. Because of global population growth and economic expansion, more people are purchasing goods. There is fierce competition between businesses that produce food in the food and beverage industry. Due to this, businesses have begun to focus on providing superior services, such as timely and accurate product deliveries. The global Warehouse Racking has benefited as a consequence of the rise in demand for warehouse racking. The market is comprehensively evaluated in the study on the global warehouse racking industry. The report provides a thorough analysis of the market’s key segments, trends, drivers, restraints, competitive environment, and other important elements.
Frequently Asked Questions
• How big is the warehouse racking ?
• What is the warehouse racking growth?
• Which segment accounted for the largest warehouse racking share?
• Who are the key players in warehouse racking ?
• What are the factors driving the warehouse racking ?
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