Warehouse Racking Market Analysis 2021-2025: APAC to Dominate Market Growth
The warehouse racking market share is set to grow by USD 1.74 billion, accelerating at a CAGR of 5.92% during the forecast period. The increasing demand for storage and warehousing will boost the market value. In addition, the rising demand for retail space is the major warehouse racking market trend that positively impacts the market growth. However, large fluctuations in raw material costs will affect the profitability of suppliers.
Technavio's research report analyses the growth trajectory of the market with a purview of the prevalent market scenarios, trends, and drivers. It also provides competitive bench-marking of the key market players and their product portfolios. Unlock Free Sample Analysis Report
Warehouse Racking Market: APAC to lead market growth during the forecast period
- The warehouse racking market is segmented by End-user (Automotive industry, Food and beverage industry, Retail industry, and Other industries) and Geography (APAC, North America, Europe, MEA, and South America).
- The warehouse racking market size in the automotive segment will be significant during the forecast period.
- The growing demand for warehouse racking among automotive, food and beverage, retail, and other end-users from developing countries such as China and India will facilitate the warehouse racking market growth in APAC.
- 62% of the market's growth will originate from APAC during the forecast period. China, South Korea (Republic of Korea), and India are the key markets for warehouse racking market in APAC.
- The warehouse racking market report provides a detailed analysis of all the trends likely to influence the growth of individual segments within the market and the overall market in focus.
Warehouse Racking Market: Competitive Landscape
The market is fragmented. AK Material Handling Systems, Daifuku Co. Ltd., Honeywell International Inc., Interroll Holding AG, Kardex AG, KION GROUP AG, Mecalux SA, Murata Machinery Ltd., SSI SCHAEFER Group, and Toyota Industries Corp. are some of the major warehouse racking market vendors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Download the Free PDF Sample Report
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerating at a CAGR of 5.92%.
- What is the incremental growth of the market?
The market is expected to grow by USD 1.74 billion.
- What is a key factor driving this market?
Increasing demand for storage and warehousing will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, North America, Europe, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market?
62% growth will originate from APAC.
- Who are the leading market vendors?
The leading vendors in this market are AK Material Handling Systems, Daifuku Co. Ltd., Honeywell International Inc., Interroll Holding AG, Kardex AG, KION GROUP AG, Mecalux SA, Murata Machinery Ltd., SSI SCHAEFER Group, and Toyota Industries Corp.
- What are the market segments covered in this report?
The market is segmented by End-user (Automotive industry, Food and beverage industry, Retail industry, and Other industries) and Geography (APAC, North America, Europe, MEA, and South America).