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 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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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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Global Industrial Racking Systems Market

Product ID: SQSG25K2015

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