Warehouse Racking Market Key Players, Growth Prospect and Analysis till 2028

Posted on 2022-08-10 by researchinsights in Automotive // 0 Comments

San Francisco, California , USA, Aug 10, 2022 — /EPR Network/ —

Warehouse Racking Industry Overview

The global warehouse racking market size was valued at USD 8.49 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.7% from 2021 to 2028.

Growing demand for capacity expansion in warehouses, coupled with the expanding online retail industry, is anticipated to benefit the market growth over the forecast period. Warehouse racking helps in optimizing the storage spaces and increases the storage capacity. In addition, it enhances the organization of the stored products. The systematic alignment of products in the warehouse makes it easier to identify, pick, and complete the order. In addition, it helps in minimizing the overall time.

Gather more insights about the market drivers, restrains and growth of the Global Warehouse Racking market

The U.S. has emerged as one of the most severely affected countries due to the global pandemic outbreak in 2020. The threat of the rapid spread of infections led to curtailment or delay of infrastructure development projects in both the private and public sectors. This, in turn, led to a notable impact on the racking market in 2020 as it plays a crucial role in the development of transport and logistics infrastructure.

The global pandemic outbreak also led to the disruption of the global supply chain, which caused a two-way impact on the market for warehouse racking. Firstly, the stoppage in the global supply chain also delayed the warehouse expansion and maintenance plans of the private players. In addition, it led to a shortage of materials for the fabrication of racking due to a short-lived halt in transportation activities.

The market in the U.S. is expected to exhibit growth as the economy caters to a large e-commerce market, superior infrastructure and automation facility, and a highly-skilled workforce. In addition, the presence of major manufacturers and warehouse racking solution providers in the country leads to higher volume production and after-sales services.

A well-organized warehouse makes it easier to identify and pick orders, thereby reducing the workforce requirement, which saves cost. In addition, with the increased storage capacity, one is able to store more products, which helps in fulfilling the orders on time without accumulating backorders for your most popular items or risking sales.

The lack of knowledge about the weight-bearing capacity of the warehouse racks among the workers leads to the overloading of racks beyond the engineered weight capacity. In addition, improper lift equipment training and lack of driver training result in rack damage. Moreover, irregular inspections and the use of low-quality materials are anticipated to limit market growth.

Rising demand for easy product accessibility, maximum space utilization, product and worker safety, convenient workability, and overall performance enhancement in the application industries is likely to benefit the market growth. In addition, the availability of manual and automatic rack servicing is projected to offer growth opportunities for the market.

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Warehouse Racking Market Segmentation

Grand View Research has segmented the global warehouse racking market on the basis of product, application, and region:

Warehouse Racking Product Outlook (Revenue, USD Million, 2017 – 2028)
- Selective Pallets
- Drive-in
- Push Back
- Pallet Flow
- Cantilever
- Others
Warehouse Racking Application Outlook (Revenue, USD Million, 2017 – 2028)
- Automotive
- Food & Beverage
- Retail
- Packaging
- Manufacturing
- Others
Warehouse Racking Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Warehouse Racking market include

Daifuku Co., Ltd.
Mecalux S.A.
Kardex Group
Hannibal Industries, Inc.
Emrack International
Jungheinrich AG
AK Material Handling Systems
SSI SCHAEFER Group
Dematic
Toyota Industries Corporation

Order a free sample PDF of the Warehouse Racking Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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