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, Selective Racking System, Push Back Racking System), By End User(Automotive, Food, Beverage, Retail), By Region - Industry Forecast 2024-2031

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

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.

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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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Global Industrial Racking Systems Market

Product ID: SQSG25K2015