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Storage and Warehouse Leasing Market 2024: Size, Share, and Segment Insights
Storage And Warehouse Leasing Global Market Report 2024
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According to The Business Research Company's, The storage and warehouse leasing market size has grown strongly in recent years. It will grow from $65.39 billion in 2023 to $71.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to per capita disposable income, rental vacancy rates, homeownership rate, business sentiment, industrial production index.
The storage and warehouse leasing market size is expected to see strong growth in the next few years. It will grow to $95.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to growing demand for below applications around the world, rising demand for e-commerce, increasing demand for third-party logistics, growing demand for pharmaceuticals, increasing demand for food and beverage. Major trends in the forecast period include increasing adoption of automation and robotics, growing demand for sustainable warehousing, increasing use of big data analytics, growing popularity of multi-story warehouses, increasing use of cloud-based warehouse management systems.
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Market Drivers and Trends:
The increase in demand for warehousing and storage services is expected to propel the growth of the storage and warehouse leasing market going forward. Warehousing and storage services refer to the business activities involved in storing, handling, and managing goods and products for clients or businesses. Storage and warehouse leasing provide corporations with flexible and scalable storage solutions, optimizing inventory management and freeing up capital and resources for core operations. For instance, in April 2023, according to the Office for National Statistics, a UK-based government department, warehousing, and storage services increased from a 111.60 index value in 2020 to a 124.48 index value in 2021. Therefore, increasing demand for warehousing and storage services drives the storage and warehouse leasing market.
Technological advancements are a key trend gaining popularity in the storage and warehouse leasing market. Major companies operating in the storage and warehouse leasing market are focused on using technologies to meet operational efficiencies and sustain their position in the market. For instance, in April 2022, Beijing Geekplus Technology Co. Ltd., a China-based technology company, introduced Sky-Storage & Ground-Pick, a multilevel storage and retrieval system. It is a four-way shuttle warehouse storage and pickup solution that boosts storage density while devoting the ground floor to picking operations entrusted to the flagship P800 robots. This solution can transform the largest warehouses into dense and highly efficient storage and distribution facilities.
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Major Key Players of the Market:
DHL Supply Chain, CEVA Logistics, Brookfield Business Partners LP, CBRE Group Inc., Ryder System Inc, XPO Logistics Inc, Prologis Inc., Colliers International Group Inc., Public Storage Inc., Agility Public Warehousing Company K.S.C.P., Extra Space Storage Inc., CubeSmart L.P., Life Storage Inc., Kenco Group, SEKO Logistics, Global Logistic Properties (GLP), Radius Commercial Real Estate, Lee & Associates Inc., Storage Asset Management, StorageMart, Central Storage And Warehouse Co, HSA Commercial Real Estate, Geodis (North America), American Warehouses Ltd., Adwise Realty LLP, Avison Young.
Storage And Warehouse Leasing Market 2024 Key Insights:
• The storage and warehouse leasing market size is expected to see strong growth in the next few years. It will grow to $95.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Growing Need For Warehousing And Storage Services Drives Growth In The Storage And Warehouse Leasing Market
• Geekplus Unveils Sky-Storage & Ground-Pick System, Transforming Storage And Warehouse Leasing With Advanced Technology
• North America was the largest region in the storage and warehouse leasing market in 2023
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