Pallet Racking System Market: Global Industry Analysis and Forecast (2023-2029)

Global Pallet Racking System Market size is expected to reach 13.78 US$ Bn in year 2029, at a CAGR of 7.10 % during the forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Pallet Racking System Market Snapshot
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Global Pallet Racking System Market Dynamics:
Rising imports & exports between several economic belts, increasing labor cost, are the major factors driving the growth of global pallet racking system market. Furthermore, robust growth in automation in warehouse space, coupled with increase in e-commerce growth is expected to gain significant impetus for the pallet racking system market share in the coming years.
Global Pallet Racking System Market Segment Analysis:
According to the end-use industry, the logistics sector is anticipated to grow at around 10-15% in the forthcoming years, largely because of growth in retail, E-commerce, and manufacturing sectors. This indicates that logistics demand will continue to grow and will create demand for large-scale warehouse spaces. Therefore, robust growth in automation in the warehouse space, coupled with an increase in e-commerce growth is cited to emerge as the key reasons for concrete growth in the global pallet racking systems market.
Global Pallet Racking System Market Regional Insights:
Geographically, Asia Pacific is expected to experience the highest growth rate for pallet racking systems throughout the forecast period. India, which is a leader in growth rates, is committed to noteworthy investments in e-commerce and manufacturing. The government in India has also taken a number of initiatives to boost the movement of freight via versatile logistics parks and railway lines across the country, with better connectivity between major metro cities and ports. These developments also provide the market for pallet racking systems with a positive landscape. The United States and Canada are considered for North America's pallet racking systems market analysis. The US, as of its widespread trade exports combined with strong growth in e-competition, is anticipated to be a prominent region in pallet racking system market. Additionally, the fast-growing third-party logistics market in North America is planning to boost the sales of pallet racking systems.

The report includes the evaluation of market size for value (Bn USD) and volume (Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of the pallet racking system market, to estimate the size of several other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares split, and breakdowns have been determined using secondary sources and verified primary sources.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding global pallet racking system market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence.
Global Pallet Racking System Market, Key Highlights:
1.Global Market analysis and forecast, in terms of value.

2.Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Pallet Racking System Market

3.Global Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

4.Global Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

5.Global Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

6.Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

7.Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Pallet Racking System Market are also profiled.
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Global Pallet Racking System Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 8.53 Bn.


Forecast Period 2023 to 2029 CAGR:
7.10%
Market Size in 2029:
US $ 13.78 Bn.


 Segments Covered:
by System Type
Conventional
Mobile Racking
 Horizontally Rotating
   Vertically Rotating
Shuttle Racking
Hybrid and Customized


by Racking System
Selective Pallet Rack
Narrow Aisle Rack
Drive-In Rack
Push-Back Rack
Gravity Flow Rack
Mezzanine
Others


by Frame Load Capacity
Up to 5 Ton
5 to 10 Ton
10 to 15 Ton
Above 15 Ton


by Application
Cases & Boxes
Pipes & Panels
Tires
Drums & Pails
Rigid Sheets
Timber & Rolls
Trays & Crates
Other Applications


by End Use Industry
Packaging
Food & Beverages
Electrical & Electronics
Healthcare
Metal Processing & Manufacturing
Building & Construction
Chemicals
Logistics & Warehousing
Mining
Others



Global Pallet Racking System Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Global Pallet Racking System Market, Key Players are
1. Daifuku Co., Ltd
2. KARDEX AG
3. InterrollDyanmic Storage
4. Jungheinrich AG
5. SSI Schaefer
6. AVERYS Group
7. Mecalux SA
8. NEDCON B.V.
9. Estral Innovation and Applied Logistics
10. DexionGmbh
11. Montel Inc.
12. Hannibal Industries, Inc.
13. Elite Storage Solutions Inc.
14. Ridg-U-Rak Inc.
15. ATOX SISTEMAS DE ALMACENAJE, S.A.
16. VerticeDiseno S.A.
17. Poveda& CIA.
18. Frazier Industrial Company
19. DR Storage Systems
20. Storage Equipment Systems, Inc.
21. Gonvarri Material Handling
22. Stocklin Logistics de Mexico
23. AR Racking.
24. PROMAN s.r.o.
25. AK Material Handling Systems

Frequently Asked Questions:

1. Which region has the largest share in Global Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Market?
Ans: The Global Market is growing at a CAGR of 7.10% during forecasting period 2023-2029.

3. What is scope of the Global Market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Market?
Ans: The important key players in the Global Pallet Racking System Market are – Daifuku Co., Ltd, KARDEX AG, InterrollDyanmic Storage, Jungheinrich AG, SSI Schaefer, AVERYS Group, Mecalux SA, NEDCON B.V., Estral Innovation and Applied Logistics, DexionGmbh, Montel Inc., Hannibal Industries, Inc., Elite Storage Solutions Inc., Ridg-U-Rak Inc., ATOX SISTEMAS DE ALMACENAJE, S.A., VerticeDiseno S.A., Poveda& CIA., Frazier Industrial Company, DR Storage Systems, Storage Equipment Systems, Inc., Gonvarri Material Handling, Stocklin Logistics de Mexico, AR Racking., PROMAN s.r.o., AK Material Handling Systems.

5. What is the study period of this Market?
Ans: The Global Market is studied from 2022 to 2029.