General Warehousing And Storage Market Report 2024-2033 | Size, Insights, Growth Demand, Forecast

The general warehousing and storage market size has grown strongly in recent years. It will grow from $359.68 billion in 2023 to $387.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to industrialization and urbanization, expansion of global trade, e-commerce and supply chain evolution, regulatory compliance and safety standards, economic growth and consumerism.

The general warehousing and storage market size is expected to see strongly grown in the next few years. It will grow to $517.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to supply chain resilience, adoption of robotics and automation, sustainability and green warehousing practices, last-mile delivery solutions. Major trends in the forecast period include integration with advanced technologies, multi-channel distribution centers, flexible and scalable warehouse designs, collaborative warehousing models.

Market Overview -
General warehousing and storage refer to warehouses that act as storage for goods that will be sold or distributed later. These warehouses are specifically designed for the storage of facilities for general merchandise, refrigerated goods, and other warehouses products.

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Influence Of Industrial Production Drives The General Warehousing And Storage Market

The growth in the general warehousing and storage market is due to the growth in macroeconomic fundamentals such as export-import trade, retail industry, and industrial production index. An increase in the industrial production index is expected to propel the growth of the general warehousing and storage market going forward. Within a year, the industrial production index (IPI) measures levels of production and capacity in the manufacturing, mining, electric, and gas industries. Because of the increase in production in industries warehouses helps to store the finished goods. For instance, according to EMBARGO ADVISORY, an India-based government organization, for the year 2021 combined industrial production index of core industries stood at 143.1 in March, 2021, which increased by 6.8 % as compared to the index of march, 2020. Therefore, an increase in the industrial production index is driving the growth of the general warehousing and storage market.

Competitive Landscape -
Major companies operating in the general warehousing and storage market report are DHL International GmbH, Kuehne + Nagel International AG, Americold Realty Trust Inc., CEVA Logistics AG, Panalpina Welttransport (Holding) AG, Prologis Inc., Lineage Logistics Holdings LLC, CWT Limited, XPO Logistics Inc., GXO Logistics Inc., NFI Industries Inc., Ryder System Inc., DSV Panalpina A/S, SSI Schaefer LLC, Whirlpool Corporation, Saddle Creek Logistics Services LLC, APL Logistics Ltd., Jacobson Companies Inc., Kane Is Able Inc., Leggett & Platt Inc., Radial Inc., GEODIS S.A., Rhenus Group, ID Logistics S.A., Fulfillment Centers Inc., Verst Group Logistics Inc., Symbia Logistics LLC, Atlanta Bonded Warehouse Corporation, The Suddath Companies

Mobilizing Warehousing Efficiency And The Impact Of Mobile Technologies
Mobile technologies have gained popularity among warehouse owners as it helps them to perform and track warehouse operations and reduce time consumption and manpower. Mobile technology includes tablets, smartphones, and other handheld devices for communication and information. These devices make use of GPS, RFID, VoIP, digital imaging, and voice technology for equipment status, performance, and tracking warehouse operations. These technologies also provide hands-free operations and faster data entry. For instance, in June 2023, IAM Robotics, a US-based automation technology company, launched an automated solution to help warehouses with order fulfillment called as Lumabot. The Lumabot uses the company's new Meet Me technology to coordinate humans and robots as a cohesive system, enabling warehousing, logistics, and manufacturing operations to increase productivity, mitigate operational risk, and scale without adding headcount. The Lumabot can also manage the work of all of the warehouse associates and mobile robots making it a useful addition for the growth of the business.

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Key Segments -

The general warehousing and storage market covered in this report is segmented -

1) By Type: Bonded Warehousing, Private Warehousing and Storage, and Warehousing (including foreign trade zones)
2) By Ownership: Private Warehouses, Public Warehouses, Bonded Warehouses
3) By End User: Manufacturing, Consumer Goods, Retail, Food and Beverages, IT Hardware, Healthcare, Chemicals, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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