Global Warehouse Racking Market

Warehouse Racking Market Size, Share, Growth Analysis, By Type(Selective Pallet Racking, Drive - in/ Drive - through Racking, Push Back Racking, Cantilever Racking), By Application(Food & Beverage, Retail, E - commerce, Automotive), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20I2182 | Region: Global | Published Date: March, 2024
Pages: 202 |Tables: 69 |Figures: 75

Warehouse Racking Market Insights

Global Warehouse Racking Market size was valued at USD 1.08 billion in 2022 and is poised to grow from USD 1.17 billion in 2023 to USD 2.29 billion by 2031, growing at a CAGR of 8.7% in the forecast period (2024-2031).

One of the primary drivers fueling the growth of the global warehouse racking market is the expanding e-commerce sector. With the increasing popularity of online shopping, there is a growing demand for efficient warehousing and distribution solutions. Warehouse racking systems enable e-commerce companies to maximise their storage capacity, facilitate order fulfilment, and streamline logistics operations. The need for quick and accurate order processing, along with the rising volumes of goods handled by e-commerce businesses, is boosting the demand for advanced racking systems. Additionally, the adoption of automated and technologically advanced warehouse racking solutions is another significant trend in the market. Automated racking systems, such as automated storage and retrieval systems (AS/RS) and robotic picking systems, offer higher efficiency, improved inventory control, and reduced labour costs. These systems utilise advanced technologies like robotics, artificial intelligence, and machine learning to optimise warehouse operations, minimise errors, and increase productivity. As companies strive for greater efficiency and cost savings, the demand for automated warehouse racking solutions is expected to surge.

Market Snapshot - 2024-2031

Global Market Size

USD 1.08 billion

Largest Segment

Selective Pallet Racking

Fastest Growth

Drive -in/Drive - through Racking

Growth Rate

8.7% CAGR

Global Warehouse Racking By Country ($ Bn)
Country Share for North America Region (%)

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Warehouse Racking Market Segmental Analysis

The global warehouse racking market is segmented based on type, application, and region. Based on type, the market can be segmented into selective pallet racking, drive - in/ drive - through racking, push back racking, cantilever racking, mezzanine racking, and others. Based on application, the market is segmented into food & beverage, retail, e - commerce, automotive, pharmaceutical & healthcare and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Type

Selective Pallet Racking is the most widely adopted type of warehouse racking system due to its versatility, accessibility, and cost-effectiveness. This type allows for direct access to each pallet, maximising storage capacity and facilitating efficient inventory management. With its ability to accommodate a variety of pallet sizes and weights, Selective Pallet Racking remains the preferred choice for numerous industries across the globe.

On the other hand, Drive-in/Drive-through Racking has emerged as the fastest-growing type in the global warehouse racking market. This racking system optimises space utilisation by allowing forklifts to enter the racking structure and place pallets directly onto horizontal rails. Drive-in/Drive-through Racking is particularly suitable for high-density storage of homogeneous products with a low turnover rate. Its ability to maximise storage capacity and streamline operations in warehouses with limited space has contributed to its rapid adoption and growth.

Analysis by Application

Analysis by application reveals that the dominant application in the global warehouse racking market is the E-commerce sector. E-commerce has witnessed tremendous growth in recent years, driven by the increasing popularity of online shopping and the convenience it offers to consumers. As a result, there has been a surge in demand for efficient warehousing solutions to support the storage and distribution of e-commerce goods.

In terms of the fastest-growing application, the Pharmaceutical & Healthcare sector takes the lead. The pharmaceutical and healthcare industry requires specialised warehousing solutions to store and manage a wide range of products, including medicines, medical equipment, and supplies. With the growing focus on healthcare infrastructure and the increasing need for safe and efficient storage of pharmaceutical products, the demand for warehouse racking solutions in this sector is experiencing rapid growth.

Global Warehouse Racking By Type, 2023 (%)

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Warehouse Racking Market Regional Insights

The dominant region in the global warehouse racking market is North America. This region has a well-established logistics and warehousing infrastructure, with a high adoption rate of advanced storage systems. The US, in particular, represents a major market for warehouse racking due to its large retail sector and the presence of numerous e-commerce giants. The demand for efficient inventory management and order fulfilment in North America has led to the widespread implementation of warehouse racking solutions.

On the other hand, the fastest-growing region in the global warehouse racking market is Asia Pacific. The region has witnessed rapid industrialization, urbanisation, and the emergence of a robust e-commerce sector. Countries such as China, India, and Southeast Asian nations are experiencing substantial growth in e-commerce activities, driving the need for efficient warehousing and logistics infrastructure. The expanding manufacturing sector and increasing investments in logistics and supply chain management are also contributing to the growth of the warehouse racking market in Asia Pacific.

Global Warehouse Racking By Region, 2024-2031
  • Largest
  • Fastest

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Warehouse Racking Market Dynamics

Drivers

Rising Demand for Automated Warehousing Solutions

  • Increasingly, there is a rising need for automated warehousing solutions due to the emphasis on improving operational efficiency and optimising costs. This has led to a growing demand for warehouse racking systems that can be integrated with automation technologies like robotics and conveyors. These advanced systems facilitate efficient material handling, order picking, and inventory management, thereby stimulating the growth of the market.

Restraints

Maintenance and Repair Costs

  • The regular maintenance of warehouse racking systems is essential to ensure their structural integrity and safe operation. However, the costs associated with maintenance, repair, and the replacement of damaged components can be a limiting factor, especially for businesses with limited budgets. The financial burden of ongoing maintenance and repairs can pose challenges to organisations seeking to invest in warehouse racking solutions while operating under tight financial constraints.

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Warehouse Racking Market Competitive Landscape

The global warehouse racking market is highly competitive, characterised by the presence of numerous players offering a wide range of products and services. The market landscape is influenced by factors such as technological advancements, product innovation, pricing strategies, and the ability to meet customer demands. In terms of product offerings, companies in the market provide a diverse range of warehouse racking systems, including selective pallet racking, drive-in racking, push-back racking, cantilever racking, and automated storage and retrieval systems (ASRS). Each type of racking system offers unique benefits and caters to specific storage requirements, enabling companies to tailor their solutions to meet customer needs.

Top Player’s Company Profiles

  • Schaefer Holding International GmbH (Germany)
  • Interroll Holding AG (Switzerland)
  • Jungheinrich AG (Germany)
  • SSI Schaefer AG (Germany)
  • Dematic (US)
  • Frazier Industrial Company (US)
  • Stöcklin Logistik AG (Switzerland)
  • Kardex Group (Switzerland)
  • Toyota Industries Corporation (Japan)
  • Honeywell International Inc. (US)
  • Constructor Group AS (Norway)
  • Steel King Industries Inc. (US)
  • RIDG-U-RAK, Inc. (US)
  • Elite Storage Solutions Inc. (US)
  • Apex Companies, LLC (US)
  • Hannibal Industries, Inc. (US)
  • Spacerack Manufacturing Ltd. (Australia)

Recent Developments

  • In December 2023, Argosy Private Equity has acquired a controlling stake in Wize Solutions, a Salt-Lake City based warehousing racking, automation and dock & door installation company.

     

  • In September 2023, Acrow, a renowned provider of storage and material handling solutions, revolutionized the operations at a Lusaka Cold Storage Facility in Zambia, boasting an installation that utilizes cutting-edge mobile racking system, Acrow aims to optimize storage capacity and enhance efficiency for this prominent cold room facility.

     

  • In September 2023, Sweden’s Ingka Group, IKEA’s largest retailer, has signed an agreement with H2 Green Steel to see it use hydrogen-produced steel in 50% of IKEA warehouse racking globally.

Warehouse Racking Key Market Trends

  • The increasing adoption of automated warehouse racking systems is a key market trend in the global warehouse racking market. Automated warehouse racking systems use robots or other automated devices to move and store goods in warehouses.The increasing adoption of automated warehouse racking systems is expected to have a significant impact on the global warehouse racking market. Warehouse racking manufacturers are developing new and innovative automated warehouse racking systems that are designed to meet the needs of businesses of all sizes. This is expected to drive the growth of the global warehouse racking market in the coming years.

Warehouse Racking Market SkyQuest Analysis

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

According to our global warehouse racking market analysis, the increasing demand for efficient storage solutions in warehouses and distribution centres across industries are key growth drivers. The market is primarily driven by factors such as the expansion of the e-commerce sector, the growing need for optimising warehouse space utilisation, and the implementation of advanced automation technologies. These factors have prompted organisations to invest in effective warehouse racking systems to streamline their operations and improve overall productivity. One of the notable trends highlighted in the report is the rising adoption of automated warehouse racking systems. The integration of automation technologies, such as robotics and artificial intelligence, enables efficient inventory management, order picking, and storage optimization. This trend is expected to gain further traction as companies aim to enhance operational efficiency and meet the increasing demands of omnichannel fulfilment.

Additionally, the report highlights the regional dynamics of the global warehouse racking market. North America currently dominates the market, attributed to the presence of established industries and the early adoption of advanced warehousing technologies. However, the Asia-Pacific region is expected to witness significant growth during the forecast period, driven by rapid industrialization, infrastructure development, and the expansion of the e-commerce sector in emerging economies.

Report Metric Details
Market size value in 2023 USD 1.08 billion
Market size value in 2031 USD 2.29 billion
Growth Rate 8.7%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Selective Pallet Racking, Drive - in/ Drive - through Racking, Push Back Racking, Cantilever Racking, Mezzanine Racking, and Others.
  • Application
    • Food & Beverage, Retail, E - commerce, Automotive, Pharmaceutical & Healthcare, and 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
  • Schaefer Holding International GmbH (Germany)
  • Interroll Holding AG (Switzerland)
  • Jungheinrich AG (Germany)
  • SSI Schaefer AG (Germany)
  • Dematic (US)
  • Frazier Industrial Company (US)
  • Stöcklin Logistik AG (Switzerland)
  • Kardex Group (Switzerland)
  • Toyota Industries Corporation (Japan)
  • Honeywell International Inc. (US)
  • Constructor Group AS (Norway)
  • Steel King Industries Inc. (US)
  • RIDG-U-RAK, Inc. (US)
  • Elite Storage Solutions Inc. (US)
  • Apex Companies, LLC (US)
  • Hannibal Industries, Inc. (US)
  • Spacerack Manufacturing Ltd. (Australia)
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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 Warehouse Racking 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 Warehouse Racking 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 Warehouse Racking 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 Warehouse Racking 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 Warehouse Racking Market:

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

Regional Analysis: Further analysis of the Warehouse Racking 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

Warehouse Racking Market size was valued at USD 1.08 billion in 2022 and is poised to grow from USD 1.17 billion in 2023 to USD 2.29 billion by 2031, growing at a CAGR of 8.7% in the forecast period (2024-2031).

The warehouse racking market is highly competitive, characterised by the presence of numerous players offering a wide range of products and services. The market landscape is influenced by factors such as technological advancements, product innovation, pricing strategies, and the ability to meet customer demands. In terms of product offerings, companies in the market provide a diverse range of warehouse racking systems, including selective pallet racking, drive-in racking, push-back racking, cantilever racking, and automated storage and retrieval systems (ASRS). Each type of racking system offers unique benefits and caters to specific storage requirements, enabling companies to tailor their solutions to meet customer needs. 'Daifuku Co., Ltd. (Japan)', 'KION Group AG (Germany)', 'Schaefer Holding International GmbH (Germany)', 'Interroll Holding AG (Switzerland)', 'Mecalux S.A. (Spain)', 'Jungheinrich AG (Germany)', 'SSI Schaefer AG (Germany)', 'Dematic (US)', 'Frazier Industrial Company (US)', 'Stöcklin Logistik AG (Switzerland)', 'Kardex Group (Switzerland)', 'Toyota Industries Corporation (Japan)', 'Honeywell International Inc. (US)', 'Constructor Group AS (Norway)', 'Steel King Industries Inc. (US)', 'RIDG-U-RAK, Inc. (US)', 'Elite Storage Solutions Inc. (US)', 'Apex Companies, LLC (US)', 'Hannibal Industries, Inc. (US)', 'Spacerack Manufacturing Ltd. (Australia)'

Increasingly, there is a rising need for automated warehousing solutions due to the emphasis on improving operational efficiency and optimising costs. This has led to a growing demand for warehouse racking systems that can be integrated with automation technologies like robotics and conveyors. These advanced systems facilitate efficient material handling, order picking, and inventory management, thereby stimulating the growth of the market.

The increasing adoption of automated warehouse racking systems is a key market trend in the warehouse racking market. Automated warehouse racking systems use robots or other automated devices to move and store goods in warehouses.The increasing adoption of automated warehouse racking systems is expected to have a significant impact on the warehouse racking market. Warehouse racking manufacturers are developing new and innovative automated warehouse racking systems that are designed to meet the needs of businesses of all sizes. This is expected to drive the growth of the warehouse racking market in the coming years.

The dominant region in the warehouse racking market is North America. This region has a well-established logistics and warehousing infrastructure, with a high adoption rate of advanced storage systems. The US, in particular, represents a major market for warehouse racking due to its large retail sector and the presence of numerous e-commerce giants. The demand for efficient inventory management and order fulfilment in North America has led to the widespread implementation of warehouse racking solutions.

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Global Warehouse Racking Market

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