The global warehouse racking market is projected to grow from USD 7,464.9 million in 2023 to USD 10,839.2 million by 2033.
The growth of the online retail sector is expected to drive market expansion during the forecast period. Warehouse racking systems optimize storage space, increase capacity, and improve the organization of stored products. This systematic arrangement makes it easier to identify, pick, and fulfill orders efficiently.
While storing finished goods can increase operating costs, it also adds value by ensuring product availability in the market. As a result, storage and warehousing have become crucial secondary activities for businesses, leading to an increasing trend of outsourcing these functions to logistics service providers.
Logistics partners offer comprehensive warehousing solutions, including custom-designed racks, inventory management software, and specialized material handling equipment. They also manage raw material procurement and product shipping on behalf of their clients, adding value to both inbound and outbound logistics in a cost-effective manner. This has fueled the demand for warehouse racking.
Racking systems, such as drive-in or drive-through racks and mezzanine flooring, help maximize storage density by making efficient use of available space. As businesses continue to optimize their warehouses, the demand for racking systems that enhance space utilization is expected to grow.
Key Points from the Market:
- The market is expected to surpass USD 10.70 billion by 2033.
- The primary factors driving the market include the increasing popularity of online stores, new product releases, and increased mergers and acquisitions.
- The warehouse racking market is expected to capture a CAGR of 3.8% during the forecast period 2023 to 2033.
- North America dominated the warehouse racking market.
Competitive Landscape:
Key competitors in the global storage rack market are focusing on expanding their production facilities to meet increasing customer demand. Furthermore, players are spending on research and development to expand their product portfolios.
In 2021, SSI SCHAEFER is a global leader in warehouse and logistics solutions. Tee Yih Jia Food Manufacturing Pte Ltd, a leading frozen foods manufacturer, jointly launched Singapore’s automated rack-clad high bay warehouse storage facility. In Q1 2022 at Tee Yih Jia’s new USD 450 million production facility in Senoko – the Tee Yih Jia Food Hub.
Key Players:
- Daifuku
- SSI Schaefer
- Interroll
- Dematic
- Vanderlande
- AK Material Handling Systems
- Beumer
- Constructor
Market Segmentation:
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
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
Access Report Details for More In-Depth Information!
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
