Global Industrial Racking Systems Market

Industrial Racking Systems Market Size, Share, Growth Analysis, By System Type(Cantilever Racking System, Drive-in or Drive-thru Racking System), By End User(Automotive, Food) - Industry Forecast 2024-2031


Report ID: SQSG25K2015 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 67 | Figures: 75

Industrial Racking Systems Market Insights

Global Industrial Racking Systems Market size was valued at USD 10.55 billion in 2019 and is poised to grow from USD 11 billion in 2023 to USD 15.41 billion by 2031, growing at a CAGR of 4.3% in the forecast period (2024-2031).

Trade volume, the manufacturing industry, and e-Commerce are all closely related to the global market for industrial racking systems. Industrial racking systems and the material handling sector continue to have a strong relationship with the general economy: if GDP is increasing, then the supply chain's overall demand for storage should increase as well.

Worldwide, a variety of cargo-related transportation and freight industries make up the logistics sector. Since it oversees the movement of commodities from their point of origin to their eventual destination, logistics is regarded as one of the most fundamentally important industries in every economy. The business includes all aspects of shipping security, procurement, supply chain management, inventory management, transportation, packing, warehousing, and material handling.

The growth of warehouse construction and freight in the US is a sign that the country's economy is expanding and getting stronger. Additionally, due to a lack of contemporary storage facilities, e-Commerce enterprises in the US are anticipated to encounter fierce rivalry for space. There is a sizable potential to build new warehouses and renovate existing ones to meet current standards given the dearth of modern warehouse space in the US and the growth of e-Commerce. The international market for industrial racking systems is anticipated to increase as a result of a thriving e-commerce industry.

US Industrial Racking Systems Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 10.55 billion

Largest Segment

Food and Beverage

Fastest Growth

Food and Beverage

Growth Rate

4.3% CAGR

Global Industrial Racking Systems Market 2021-2028 ($ Mn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Industrial Racking Systems Market Size by End-User 2021-2028 ($ Mn)
Global Industrial Racking Systems Market Size by End-User 2021-2028 (%)

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Industrial Racking Systems Market Segmental Analysis

The global industrial racking systems market is segmented based on Type, End User and Region. Based on Type it is segmented into Cantilever Racking System, Drive-in or Drive-thru Racking System, Selective Pallet Racking System, Push Back Racking System. Based on End User it is segmented into: Automotive, Food and Beverage, Retail, Packaging, Others. Based on region Industrial Racking Systems Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Industrial Racking Systems Market Analysis by Type

The type segment is further broken down into push back pallet racking system, selected pallet racking system, drive-in/drive-thru pallet racking system, and others. With a market share of about 25% in 2021, the selective pallet racking system category dominated the industrial racking systems market worldwide. This is so because the most popular and adaptable pallet racking system in the business is selected pallet rack. It allows for effective use of available space and quick access to all loads stored while using any kind of forklift. This type of rack is available in structural steel that is resistant to debris and simple to clean—perfect for food processing activities.

Because it is the most common method of managing the load with a small system, drive-in or drive-thru racking systems are also anticipated to have a strong hold on the market. The system's high storage density, which can be attained in comparison to a traditional racking solution, is one of its key benefits.

Industrial Racking Systems Market Analysis by End User

The market is divided into Retail, Manufacturing, Packaging, Food and Beverages, Pharmaceuticals, and Others based on the Industrial Vertical. Since it includes a wide variety of goods, including stationery, toiletries, cosmetics, medications, and stationery, Retail is the industry's largest segment. The expansion of the Retail segment of Industrial Racking System is being driven by the increase in demand for retail goods.

As the automotive industry mainly relies on the shelving system to store small parts of autos, the automotive category is also anticipated to expand at the highest CAGR throughout the projection period. For quick and simple access, the merchandise is placed on stationary shelf units rather than movable pallets.

Global Industrial Racking Systems Market by End-User, 2021 (%), 2023 (%)

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Industrial Racking Systems Market Regional Insights

Asia Pacific led the global for industrial rack systems and  is expected to expand at the highest rate in the next years.

Increased government capital expenditures in warehousing, industrial infrastructure development, and industrial racking systems in general are anticipated to foster regional growth. The adoption of smart, efficient industrial units and increased public infrastructure investment in China are both expected to increase demand for industrial racking systems in the area. Additionally, the Indian government is collaborating with the business sector to develop industrial racking systems technology and enhance warehouse facilities by modernising the infrastructure.

Importantly, regional governments' activities are anticipated to promote the relocation of low-cost manufacturing to regions of South East Asia and Africa, and as supply chains are modernised, new transportation corridors will present substantial potential in the logistics sector. The need for industrial racking systems is relatively established in North America as a result of a rising need for warehouses across numerous industries, including food and beverage, construction, agriculture, semiconductor, automobile, and others.

Global Industrial Racking Systems Market By Geography, 2021 - 2028, 2024-2031
  • Largest
  • Fastest

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Industrial Racking Systems Market Dynamics

Industrial Racking Systems Market Driver

  • The volume of trade, the manufacturing industry, and online commerce all have a significant impact on the global market for industrial racking systems. The general economy continues to have a strong correlation with the material handling sector and industrial racking systems: as GDP rises, so will the total need for storage in the supply chain. increasing the demand for industrial racking systems.
  • The building of warehouses and US freight is exploding, which is causing the US economy to expand and become stronger. Additionally, a lack of contemporary warehousing facilities would make it difficult for American e-commerce businesses to compete for inventory. Due to the scarcity of current storage space and the rising e-commerce in the United States, there is a significant opportunity to build new warehouses and renovate old ones to meet current demands. Due to a lack of warehouse space in major cities due to the rising demand from e-commerce businesses, industrial racking systems have experienced rapid expansion.

Industrial Racking Systems Market Restraint 

  • The market expansion of industrial racking systems may be hampered by their high investment costs. Furthermore, if racking is purchased at a low cost, these savings may be simply lost if, for instance, the racking cannot be modified to accommodate a set of pallets of a non-standard size. Therefore, this issue could slow the market's growth for industrial racking systems.

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Industrial Racking Systems Market Competitive Landscape

The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our industrial racking systems market reports, some of the leading industrial racking systems manufacturers are as follows: AK Material Handling Systems (US), AR Racking (UK), ARPAC (US), Averys (US), Cornix (US), Foothills Systems (US), Gonvarri Material Handling (Scandinavia), Hannibal Industries (US), Jungheinrich (Germany), Mecalux (US), Nedcon (Romania), North American Steel Equipment Inc. (US), Ridg-U-Rak Inc. (US), SSI Schaefer (US).

Industrial Racking Systems Market Top Company Profiles 

  • Daifuku Co. Ltd.
  • Interroll Holding AG
  • Kardex AG
  • Jungheinrich AG
  • Honeywell International Inc.
  • Mecalux
  • SSI Schaefer AG
  • Dematic GmbH & Co. KG
  • Vanderlande Industries BV
  • System Logistics Spa
  • Beumer Group GmbH & Co. KG
  • Ferretto Group Spa
  • Grenzebach Maschinenbau GmbH
  • TGW Logistics Group GmbH
  • KION Group AG
  • Fives Intralogistics SAS
  • Viastore Systems GmbH
  • Bito Lagertechnik Bittmann GmbH
  • Constructor Group AS
  • Hanel GmbH & Co. KG

Industrial Racking Systems Market Recent Developments

  • In June 2022, PFERD-Rüggeberg S.A., a market leader in grinding tool solutions for treating surfaces and cutting materials, has expanded its logistics warehouse in Jndiz (Lava, Spain), and it entrusted the advice, design, and installation of the warehouse extension to the expert in industrial storage AR Racking.
  • In June 2022, the 2022 Bronze Medal, which recognises the organization's dedication to sustainability, has been awarded to AR Racking following review in accordance with the evaluation standards of the global platform EcoVadis.

Industrial Racking Systems Key Market Trends

  • A type of racking system known as selective pallet racking systems offers pallet storage capacity at a reasonable price per square metre of racking. Utilizing selected racking systems, first in, first out (FIFO) inventory management is feasible. A FIFO inventory management method allows customers to access every pallet in the storage, thereby boosting the market's expansion.

Industrial Racking Systems Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, by type, the drive-in or drive-thru segment is estimated to hold the largest share of the market. By End User, the Retails held the largest share of market due to the increase in demand for retail goods. Region-wise, the Asia Pacific had dominated the market, due to the increased government capital expenditures in warehousing, industrial infrastructure development, and industrial racking systems in general are anticipated to foster regional growth

Report Metric Details
Market size value in 2023 USD 10.55 billion
Market size value in 2031 USD 15.41 billion
Growth Rate 4.3%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • System Type
    • Cantilever Racking System, Drive-in or Drive-thru Racking System, Selective Racking System, Push Back Racking System
  • End User
    • Automotive, Food, Beverage, Retail, Packaging, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Daifuku Co. Ltd.
  • Interroll Holding AG
  • Kardex AG
  • Jungheinrich AG
  • Honeywell International Inc.
  • Mecalux
  • SSI Schaefer AG
  • Dematic GmbH & Co. KG
  • Vanderlande Industries BV
  • System Logistics Spa
  • Beumer Group GmbH & Co. KG
  • Ferretto Group Spa
  • Grenzebach Maschinenbau GmbH
  • TGW Logistics Group GmbH
  • KION Group AG
  • Fives Intralogistics SAS
  • Viastore Systems GmbH
  • Bito Lagertechnik Bittmann GmbH
  • Constructor Group AS
  • Hanel GmbH & Co. KG
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Industrial Racking Systems Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Industrial Racking Systems Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Industrial Racking Systems Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Racking Systems Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Racking Systems Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Industrial Racking Systems Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Industrial Racking Systems Market size was valued at USD 10.55 billion in 2019 and is poised to grow from USD 11 billion in 2023 to USD 15.41 billion by 2031, growing at a CAGR of 4.3% in the forecast period (2024-2031).

The existence of several international players defines the market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our industrial racking systems market reports, some of the leading industrial racking systems manufacturers are as follows: AK Material Handling Systems (US), AR Racking (UK), ARPAC (US), Averys (US), Cornix (US), Foothills Systems (US), Gonvarri Material Handling (Scandinavia), Hannibal Industries (US), Jungheinrich (Germany), Mecalux (US), Nedcon (Romania), North American Steel Equipment Inc. (US), Ridg-U-Rak Inc. (US), SSI Schaefer (US). 'Daifuku Co. Ltd.', 'Interroll Holding AG', 'Kardex AG', 'Jungheinrich AG', 'Honeywell International Inc.', 'Mecalux', 'SSI Schaefer AG', 'Dematic GmbH & Co. KG', 'Vanderlande Industries BV', 'System Logistics Spa', 'Beumer Group GmbH & Co. KG', 'Ferretto Group Spa', 'Grenzebach Maschinenbau GmbH', 'TGW Logistics Group GmbH', 'KION Group AG', 'Fives Intralogistics SAS', 'Viastore Systems GmbH', 'Bito Lagertechnik Bittmann GmbH', 'Constructor Group AS', 'Hanel GmbH & Co. KG'

The volume of trade, the manufacturing industry, and online commerce all have a significant impact on the market for industrial racking systems. The general economy continues to have a strong correlation with the material handling sector and industrial racking systems: as GDP rises, so will the total need for storage in the supply chain. increasing the demand for industrial racking systems.

A type of racking system known as selective pallet racking systems offers pallet storage capacity at a reasonable price per square metre of racking. Utilizing selected racking systems, first in, first out (FIFO) inventory management is feasible. A FIFO inventory management method allows customers to access every pallet in the storage, thereby boosting the market's expansion.

Asia Pacific led the for industrial rack systems and  is expected to expand at the highest rate in the next years.

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