Pallet Racking Market Performance and Long-Term Trends Report 2024 - 2031 | Averys, AR Racking, SSI SCHAEFER, KION Group

Market Overview:

The pallet racking market is estimated to be valued at USD 10.73 Bn in 2024 and is expected to reach USD 20.04 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031.

Market Dynamics:

The pallet racking market is largely driven by the growth of the e-commerce industry and increased online retail sales over the past few years. E-commerce retailers heavily rely on warehouse management systems that utilize pallet racking for efficient storage and retrieval of inventory. Pallet racking allows high volume storage in relatively small floor spaces to meet frequent order fulfillment needs. Furthermore, increasing global trade has also necessitated modern warehousing facilities with advanced pallet racking systems for storage and order picking. Growing omni-channel retail strategies adopted by brick and mortar retailers seeking synergies also propel the demand for automated pallet racks with integration to warehouse management systems. Strong growth in third party logistics and cold storage warehousing further augments opportunities in the pallet racking market.

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The Growing Demand for Warehouse Automation is Driving the Pallet Racking Market Growth

With the rising e-commerce industry and increasing competition in the logistics sector, there is a dire need for streamlining warehouse operations for order picking, loading & unloading, sorting, and storage. Pallet racking systems facilitate automation in warehouses by enabling efficient order allocation, inventory management, and material handling. Modern pallet racking solutions integrated with automated storage & retrieval systems (AS/RS) and automated guided vehicles (AGV) allow contactless and error-proof operation. The implementation of Industry 4.0 technologies is also driving the demand for smart pallet racks with IoT & RFID capabilities for real-time tracking of inventory levels and predictive maintenance.

Growing Cross-docking Practices are Opening New Growth Avenues

Cross-docking eliminates intermediate inventories and storage requirements by transferring goods directly from receiving to shipping docks. This lean logistics model relies extensively on pallet racks to temporarily stage freight for sorting and order fulfillment operations. The increasing collaborative efforts between manufacturers, distributors, and retailers are driving the widespread adoption of cross-docking in the supply chain industry. As cross-dock centers proliferate globally to support omnichannel distribution, it will continue opening lucrative opportunities for pallet rack suppliers. Innovative customized solutions catering to unique cross-docking needs can help players gain an edge in this growing market.

Rise of Mezzanine Floors is an Emerging Trend in Pallet Racking Industry

With the demand for maximizing available warehouse space, the trend of installing mezzanine floors within the existing building footprint is gaining momentum. Mezzanine floors equipped with pallet racks enable multi-level storage and fulfill higher cubic storage capacities. They provide an effective solution for operators struggling with limited land areas. Modular mezzanine pallet racks are easy to assemble and reconfigure as space needs evolve. This emerging trend allows warehouses to scale vertically and optimize real estate without requiring new construction or expansion. Pallet rack manufacturers are innovating their product offerings to better support the implementation of mezzanine levels.

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Top Companies Included in This Report:

• Averys
• AR Racking
• SSI SCHAEFER
• KION Group
• Steel King
• Advance Storage Products
• Unarco Material Handling
• Daifuku Co., Ltd.,
• Mecalux S.A.
• Kardex Group
• Hannibal Industries Inc.
• Emrack International
• Jungheinrich AG
• AK Material Handling Systems
• SSI Schaefer Group
• Dematic
• Toyota Industries Corp.

Market Segmentation:

Based on Product Type:

• By System: Mobile Racking, Conventional, and Shuttle Racking and Hybrid/Customized Racking
• By System Racking Type: Cantilever Racking, Selective Racking, Push Back Racking, Drive-In Racking, Pallet Flow Racking, and Others
• By Load Capacity: Up to 5 Ton, 5 - 15 Ton, and Above 15 Ton

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

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