Pallet Racking Market Size, Share, Growth | Report, 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Pallet Racking Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $18.1 billion In 2028 At A CAGR Of 9.9% :

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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Pallet Racking Market Major Segments
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

Key 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.

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Prominent 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.

Pallet Racking Market Players
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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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the pallet racking market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the pallet racking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pallet Racking Market Report Structure
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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