Pallet Racking Global Market Report 2024 - By Size, Share, Report, Analysis, Forecast TO 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Pallet Racking Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The pallet racking market size has grown strongly in recent years. It will grow from $11.41 billion in 2023 to $12.4 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to expansion of the global supply chain and logistics industry, growing demand for efficient warehouse storage solutions, adoption of pallet racking systems in manufacturing and distribution centers, increase in e-commerce activities, advances in material handling and storage technology.

The pallet racking market size is expected to see strong growth in the next few years. It will grow to $18.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to surge in demand for automated and robotic pallet racking systems, growth in the food and beverage industry, adoption of sustainable and eco-friendly racking materials and designs, expansion of the retail sector with a focus on efficient inventory management, increasing globalization of supply chains. Major trends in the forecast period include integration of iot technologies for real-time monitoring and inventory management, development of flexible and modular pallet racking systems for easy customization, use of artificial intelligence for predictive maintenance and optimization, integration of vertical farming and urban agriculture, collaboration between pallet racking manufacturers and logistics providers for innovative solutions.

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Market Segmentation:
The pallet racking market covered in this report is segmented -
1) By System: Conventional, Mobile Racking, Shuttle Racking And Hybrid/Customized Racking
2) By Frame Load Capacity: Up to 5 Ton, 5 to 10 Ton, Above 15 Ton
3) By Racking System Type: Cantilever Racking, Selective Racking, Push Back Racking, Drive-In Racking, Pallet Flow Racking, Carton Flow Racking
4) By End-User: Healthcare, Food And Beverage, Electronics, Packaging, Building And Construction, Chemicals, Other End Users

Major Driver - E-Commerce Expansion Fuels Pallet Racking Market Growth
The increasing demand for warehouse space is expected to propel the growth of the pallet racking market going forward. Industrial racking systems are designed to support goods in a warehouse. With the rise of online shopping, the need for warehouses has increased to the point that a vast global logistics and distribution network is required. For instance, according to CBRE, a US-based real estate firm, e-commerce will account for one-quarter of all retail sales by 2025, which will require an additional 330 million square feet of warehouse space to accommodate the goods. Therefore, the demand for warehouse space is driving the growth of the pallet racking market.

Competitive Landscape:
Major companies operating in the pallet racking market report are Mecalux SA, Estral Innovation and Applied Logistics, Jungheinrich AG, Montel Inc., Hannibal Industries Inc., Elite Storage Solutions Inc., SSI Schaefer, Interroll Holding Limited, ATOX Sistemas de Almacenaje SA, Stora Enso Oyj, Speedrack Products Group Ltd., Steel Storage Europe, Technical Supplies & Services Co. LLC, RackingDIRECT Limited, Shelf Space Limited, Finch Paper LLC, Stow International NV, AK Material Handling Systems, Advance Storage Products, Spacerack, Ohio Rack Inc., Elite Storage Solutions, FEMCO Steel Technology, Engineered Products, Meyer Material Handling Products Inc., Steel King Industries Inc., Nucor Warehouse Solutions, Vistamation Inc., Quality Material Handling Inc.

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Top Trend - Innovative Warehouses System Revolutionize Pallet Racking Market
The emergence of automated clad-rack warehouses is a key trend gaining popularity in the pallet racking market. Major companies operating in the pallet racking sector are focused on new innovative products to gain a competitive advantage. For instance, in November 2021, SSI SCHAEFER and Tee Yih Jia Food Manufacturing Pte Ltd., launched Singapore's largest automated rack-clad high bay warehouse storage facility in Q1 2022 inside the """"Tee Yih Jia Food Hub,"""" Tee Yih Jia's brand-new $450 million manufacturing facility in Senoko. The facility has an automated storage and retrieval system (ASRS) that enables automated placement and retrieval of high-volume cargoes from TYJ's storage locations.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pallet Racking Market Characteristics
3. Pallet Racking Market Trends And Strategies
4. Pallet Racking Market - Macro Economic Scenario
5. Pallet Racking Market Size And Growth
…..
27. Pallet Racking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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