Industrial Racking System Market 2026: Top Key Players Cornix SA, Gonvarri Material Handling, ARPAC

The report covers comprehensive information about market trends, volume (‘000 Tons) and value (US$ Mn) projections, market dynamics, competition landscape and recent developments regarding the global industrial racking system market for the study period 2018 to 2026.

The global industrial racking system market is expected to reach over US$ 19,040.8 Mn by the end of the forecast period, registering a CAGR of 7.6%. According to the analysis, the demand for industrial racking systems is expected to keep increasing and gain significant traction in the coming years. Increasing installation of industrial racking systems in Ecommerce and 3PLs for retail & general purposes and growing demand from the food & beverage industry, among others are expected to reinforce the outlook of the global industrial racking system market.

By Design Type, Racking Segment to Dominate the Market Throughout the Forecast Period

The market, on the basis of design type, has been segmented into racking and shelving. These are further segmented on the basis of design type and the type of application in each end-use. In terms of value, the racking segment is expected to dominate the market and grow with a volume CAGR of 7.4% during the forecast period. On the other hand, among racking type segments, in terms of value, the selective racking segment is estimated to account for a share of 29.4% by end of 2018. However, the segment is expected to witness relatively steady growth during the forecast period. Strong labor market recovery, including increasing employment and decreasing unemployment rates, is also driving household spending. Such trends are further fuelling the demand for warehousing space and thereby, influencing the global industrial racking system market.

Request For Report Sample@ https://www.persistencemarketresearch.com/methodology/18838

Growing 3PLs Market Set to Augment the Sales of Industrial Racking Systems

Logistics is one of the most important basic industries in any economy as it deals with the management of the flow of products from the place of their origin to the place of their consumption and thus, the industry also involves the integration of material handling, warehousing, packaging, transportation, inventory management, supply chain management, procurement and shipping security aspects. The global logistics industry mainly comprises a complex range of freight and cargo related transportation sectors. According to the analysis, the total global logistics market reached a value of about US$ 7.2 Trillion in 2017, representing almost 9% of the global GDP. The logistics sector is expected to grow at around 10%-15% in the forthcoming years, largely attributing to growth in retail, E-commerce and manufacturing sectors.

Shortage of Modern Warehousing Spaces Forcing New Constructions Along With High Demand for Industrial Racking Systems

Warehouse construction and U.S. freight are skyrocketing; however, U.S. exports are declining, pointing to a growing and stronger U.S. economy. Furthermore, shortage of modern warehouse facilities will lead to tough competition for space among E-commerce players in the U.S. Given the lack of modern warehouse space and the rise of E-commerce in the U.S., there is a huge opportunity to develop new warehouses and rebuild old ones to ensure that they meet modern requirements.

The U.S. total warehouse inventory, which is becoming increasingly obsolete at an average age of 34 years, will proliferate the development of new warehouses spaces and augment the sales of industrial racking systems. This trend to invest in the development of better urban warehouses is also significant in Europe. The industrial racking systems market benefits from the key drivers of economic activity, including consumption, E-commerce, supply chain modernization and urbanization. In the developed markets of the U.S., Europe and Japan, the reconfiguration of supply chains (strongly influenced by E-commerce trends) is a strong factor impacting the market. Whereas, in emerging markets such as Brazil, China, India and Mexico, affluence and the rise of a new consumer class have increased the need for modern distribution networks.

India Expected to Steer the Global Industrial Racking System Market Growth in the Near Future

India, being at the forefront in terms of growth rate, is set to observe substantial investments in E-commerce and manufacturing sectors. Importantly, the initiatives being taken by regional governments are likely to encourage the movement of low-cost manufacturing towards parts of South-East Asia and Africa, while new transport corridors will provide significant opportunities in the logistics sector as supply chains are upgraded.

industrial racking system market

Industrial Racking System Market – Competitive Landscape

The global industrial racking System market is highly fragmented where tier-3 players account for a dominant share in the global market. Moreover, local/domestic manufacturers hold the dominant positions in their respective regions/countries. The presence of a large number of players is intensifying competition at a country level in the global market.

Table of Content (TOC): Executive Summary
Market Overview
Market Analysis
PMR Analysis and Recommendations
Wheel of Fortune

In the recent past, the industrial racking system market has witnessed significant developments from a competitive perspective. Product innovations, mergers and acquisitions are some of the preferred strategies opted by key players to sustain and enter in the global industrial racking system market. Major companies are focused on updating their product portfolios.

Request For Report Table of Content (TOC)@ https://www.persistencemarketresearch.com/methodology/18838

Prominent players covered in the industrial racking system market report include Kardex AG, Daifuku Co., Ltd., SSI Schaefer, Foothills Systems, Hannibal Industries, Cornix SA, Gonvarri Material Handling, ARPAC, AK Material Handling Systems, North American Steel Equipment Inc., EMRACK International, PROMAN, s.r.o., Nedcon B.V., Averys SA, Jungheinrich AG, Mecalux, S.A., AR Racking and Ridg-U-Rak Inc., among others.

ABOUT US:
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

CONTACT:
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.