Latest News - Storage And Warehousing Leasing Market: Non-climate controlled is expected to lead the Type segment during 2024-2028

The Storage And Warehousing Leasing Market is being driven by Increase in global demand for warehousing and storage services

The Storage And Warehousing Leasing Market is expected to grow at a CAGR of 7.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 107.2 billion. In today's business landscape, technology is revolutionizing the storage and warehousing sector, bringing significant advantages to service providers. Vendors equip businesses with advanced tools and techniques for automating processes, integrating cross-functional components, and tracking sustainability drivers through IoT and analytics. The implementation of IoT, featuring sensors and robotic systems, enhances warehouse efficiency and safety. Moreover, the adoption of battery-driven vehicles, RFID tags, automated conveyor belts, AS/RS, and WMS streamlines operations, leading to substantial cost savings. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Non-climate controlled
  • Climate controlled
• End-user
  • Manufacturing
  • Retail
  • Consumer goods
  • Food and beverages
  • Others
• Geography
  • North America
    • US
  • APAC
    • China
    • India
    • Japan
  • Europe
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in global demand for warehousing and storage services
• Growth of global third-party logistics (3PL) sector
• Growing demand for refrigerated warehouses for storage of frozen food

However, the market also witnesses some limitations, which are as follows:

• Increasing warehouse rent driving buyers to invest in storage and warehouse facilities
• Vertical integration by e-commerce companies
• Compliance with government regulations and policies that hinder operational efficiency

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Market Scope in Storage And Warehousing Leasing Market Research Report

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Research Analysis Overview

The Storage and Warehousing Leasing Market has experienced significant growth in recent years due to the globalization trend and the increasing demand for logistics services. With the rise of online buying and the omnichannel model, manufactured products, furniture, and other goods require more physical spaces for storage and distribution. This is particularly true for offline stores, which still play a crucial role in retail sales, especially for bulky items like furniture. The manufacturing sector, driven by industrial production index and business sentiment, also contributes to the demand for warehousing leasing. Automation and climate-controlled storage have become essential features in modern warehouses, ensuring efficient and effective storage and handling of goods. Individuals and businesses alike are increasingly turning to e-commerce for their purchasing needs, leading to a surge in demand for warehousing and logistics services. Factors such as homeownership rate and rental vacancy rates also impact the market, as they influence the availability and affordability of warehouse spaces. Lease durations vary depending on the specific needs of the tenant, with shorter-term leases becoming more common to accommodate the flexible nature of the e-commerce industry. Overall, the Storage and Warehousing Leasing Market is expected to continue growing, driven by the trends of globalization, logistics services, and the online buying trend.

Market Research Overview

The global diversified support services market encompasses businesses offering labor-intensive services to corporations and governments. This sector comprises companies providing commercial cleaning, dining and catering, equipment repair, industrial maintenance, storage and warehousing, transaction services, uniform rental, and other business support services. According to Technavio, the commercial services and supplies market size is determined by the consolidated revenue generated by enterprises specializing in commercial printing, environmental and facilities services, office services and supplies, security and alarm services, and diversified support services. The expansion of the global diversified support services market is attributable to the rising outsourcing trend among businesses, enabling them to focus on their core competencies while leveraging the expertise of specialized service providers. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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