Industrial Racking Systems Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Industrial Racking Systems Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Industrial Racking Systems Market

The industrial racking systems market size was valued at USD 10.5 billion in 2021, and the market is now projected to grow from USD 11.0 billion in 2022 to USD 16.0 billion by 2029, exhibiting a CAGR of 5.6% during the forecast period of 2022-2029.

The disrupted supply chains and lack of raw material declined production of product. The imposition of lockdown in various countries has halted many work and caused traveling restrictions. The labor migration and social distancing has hampered the market growth. On the other hand, the emergence of digitization and advanced supply chain management boosted the market to expand in that period. Thus, the COVID-19 pandemic has impelled the industrial racking systems market growth.

The industrial racking systems market share globally has increased because of the growing logistics and e-commerce. The growing number of warehouses and industries and heavy demand for systems in e-commerce are major attributes for the market expansion. Due to penetration of high-end telecommunication technologies, such as 4G and 5G network technology, the use of internet-based shopping in the retail sector is increasing, which propels demand for the system.

The trend is growing IoT and automation penetrating in industry is enhancing the market growth. These technologies are vastly used in day to day engineering and warehouse operation. They amplify the mechanization in industrialized storage systems and make store operations smooth and safe. This is helping to utilize storehouse space more effectively.

Comprehensive Analysis of Industrial Racking Systems Market

The industrial racking systems market and machinery and equipment industry is intensifying at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the machinery and equipment industry. These segmentations are methodically segregated by system type and industry vertical. The types of systems are cantilever, drive-in/drive-thru pallet, push back pallet racking system, and others. The industry verticals are retail, manufacturing, packaging, food & beverages, pharmaceuticals, and others.

The Asia Pacific region is conducive to the global industrial racking systems market, leading to a recall of USD 3.60 billion owing to the huge population growth rates in China and India are fueling demand for processed foods and supporting the market growth.

The top players in the market play a critical role in the machinery and equipment industry assuring industrial prospectus growth and setting market standards. These players include Ridg-U-Rak Inc.(U.S.), Kardex (Switzerland), Averys SA (Argentina), SSI Schaefer (U.S.), Gonvarri Material Handling (Norway), PROMAN, S.r.l. (Romania), North American Steel Equipment Inc. (Canada), AR Racking (Spain), ARPAC (U.S.), and AK Material Handling Systems (U.S.), these market players provide a level-playing competitive landscape.

In September 2022, SSI SCHAEFER announced their partnership with Coca-Cola to provide innovative and latest racking solutions to the Coca-Cola company for effective movement and stacking of its beverage bottles which is delicate in nature in case of glass material.

Segmentation Table

Global Industrial Racking Systems Market Scope

ATTRIBUTE DETAILS

Study Period 2018-2029

Base Year 2021

Estimated Year 2022

Forecast Period 2022-2029

Historical Period 2018-2020

Unit Value (USD Billion)

Segmentation By System Type

Cantilever Racking System

Drive-in/Drive-thru Racking System

Selective Racking System

Push Back Racking System

Others

By Industry Vertical

Retail

Manufacturing

Packaging

Food and Beverages

Pharmaceuticals

Others

By Region

North America (By System Type, By Industry Vertical & By Country)

U.S. (By System Type)

Canada (By System Type)

Europe (By System Type, By Industry Vertical & By Country)

U.K. (By System Type)

Germany (By System Type)

France (By System Type)

Italy (By System Type)

Spain (By System Type)

Rest of Europe

Asia Pacific (By System Type, By Industry Vertical & By Country)

China (By System Type)

India (By System Type)

Japan (By System Type)

South East Asia (By System Type)

Rest of Asia Pacific

Middle East & Africa (By System Type, By Industry Vertical & By Country)

GCC (By System Type)

South Africa (By System Type)

Rest of Middle East and Africa

South America (By System Type, By Industry Vertical & By Country)

Brazil (By System Type)

Argentina (By System Type)

Rest of South America

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