Press release
Pallet Racking System Market Future Growth 2019 - 2027
Transparency Market Research provides key insights on the pallet racking systems market in its recently published report, named "Pallet Racking Systems Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027."In terms of market value, the global pallet racking systems market is projected to grow at a CAGR of 7.4% during the forecast period, owing to various factors, about which TMR delivers thorough insights and forecast in the global pallet racking systems market report.
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The rise in demand for end-to-end services, driven by established end-user industries (such as pharmaceuticals, food & beverages, automotive, textiles, and other engineering goods), is crafting new storage/warehouse space requirements. This has, in turn, provoked growth opportunities for organized warehouses with improved value-added facilities and services. Notably, rising imports & exports among several economic belts are supporting the market growth of pallet racking systems.
For North America pallet racking systems market analysis, the United States and Canada are taken under consideration. The United States is projected to be a prominent region in the pallet racking systems market due to its large trade exports, coupled with robust growth in e-Commerce. Also, rapidly growing third-party logistics (3PLs) market is set to augment the sales of pallet racking systems in the North American region.
The market for pallet racking systems in Latin America is assessed to be a substantially fragmented market. The demand for automated pallet racking systems in Mexico is the result of its geographical proximity to the United States, evident through the Free Trade Agreements (FTAs) over the past years between the two economies.
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The European pallet racking systems market is segmented into Italy, France, Germany, Spain, United Kingdom, Poland, Russia, and Rest of Europe. Germany is estimated to be a prominent region in the European pallet racking systems market in terms of system installations. However, Italy, France, and Spain are some of the largest pallet racking system exporters across the globe, followed by the United States and China.
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