The Pallet Racking Global Market Report 2023 by The Business Research Company, provides pallet racking market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Pallet Racking Global Market Report 2023, the market size will grow from $10.4 billion in 2022 to $11.4 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of pallet racking market is expected to grow to $15.65 billion in 2027 at a CAGR of 8.2%.
The increasing demand for warehouse space is expected to propel the growth of the pallet racking market going forward. Industrial racking systems are designed to support goods in a warehouse. With the rise of online shopping, the need for warehouses has increased to the point that a vast global logistics and distribution network is required.
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The pallet racking market is segmented:
1) By System: Conventional, Mobile Racking, Shuttle Racking And Hybrid/Customized Racking
2) By Frame Load Capacity: Up to 5 Ton, 5 to 10 Ton, Above 15 Ton
3) By Racking System Type: Cantilever Racking, Selective Racking, Push Back Racking, Drive-In Racking, Pallet Flow Racking, Carton Flow Racking
4) By End-User: Healthcare, Food And Beverage, Electronics, Packaging, Building And Construction, Chemicals, Other End Users
The emergence of automated clad-rack warehouses is a key trend gaining popularity in the pallet racking market. Major companies operating in the pallet racking sector are focused on new innovative products to gain a competitive advantage. For instance, in November 2021, SSI SCHAEFER and Tee Yih Jia Food Manufacturing Pte Ltd., launched Singapore’s largest automated rack-clad high bay warehouse storage facility in Q1 2022 inside the “Tee Yih Jia Food Hub,” Tee Yih Jia’s brand-new $450 million manufacturing facility in Senoko. The facility has an automated storage and retrieval system (ASRS) that enables automated placement and retrieval of high-volume cargoes from TYJ’s storage locations.
The pallet racking market report table of contents includes:
1. Executive Summary
2. Pallet Racking Market Characteristics
3. Pallet Racking Market Trends And Strategies
4. Pallet Racking Market – Macro Economic Scenario
5. Pallet Racking Market Size And Growth
………………
26. Africa Pallet Racking Market
27. Pallet Racking Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Pallet Racking Market
29. Pallet Racking Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
Mecalux SA
Estral Innovation and Applied Logistics
Jungheinrich AG
Montel Inc.
Hannibal Industries Inc.
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