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Industrial Racking Systems Market to Register CAGR of 5.6% during 2022-2029; Increasing Necessity of the System to Augment Demand

December 21, 2022 | Machinery & Equipment

The global industrial racking systems market size was valued at USD 10.5 billion in 2021. The market is 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.


This information is provided by Fortune Business Insights, in its report titled, Industrial Racking Systems Market Size, Share & COVID-19 Impact Analysis, By System Type (Cantilever, Racking System, Drive-in/Drive-thru Pallet Racking System, Selective Pallet Racking System, Push Back Pallet Racking System, Others), By Industry Vertical (Retail, Manufacturing, Packaging, Food and Beverages, Pharmaceuticals, and Others), and Regional Forecast, 2022-2029.”


Global Lockdown Implementation and Labor Migration Impact on Market during COVID-19


Global supply networks are being affected by the COVID-19 pandemic, which is spreading quickly. The impact of this element on global economic activity has been negative. However, the global industrial racking systems market growth is anticipated to have a moderate fall in 2020. The moderate decline is due to the closure of several manufacturing and automobile production facilities in India, China, the U.S., and Europe. This made it difficult to move industrial output across international borders.


Launch of Crucial Pallet Racking by Configura for CET Material Handling


Another cutting-edge software solution for streamlining material handling operations is offered by Configura. With its straightforward placement and calculations of pallet racking systems, the Essential Pallet Racking solution, introduced at LogiMat 2022, greatly speeds up the sales and design processes.


This pallet racking solution enables users to put pallet racks in the design drawings as a placeholder while exporting product counts and schematics for precise pricing. It does this by employing storage components and the built-in calculations. The 3D component of CET also provides photo-like renderings that are as accurate as possible to help designers and decision-makers better comprehend the area.


Industrial Racking Systems are Becoming More Necessary as Automation Becomes More Prevalent in Various Industry Sectors


Technology is booming more than ever right now. Technology is constantly evolving and adding new features. It is not just about tools and automobiles. Automation and the Internet of Things (IoT)-based devices, which are widely employed in daily industrial and warehouse operations, are the key factors. In every sector segment, IoT and automation are becoming more prevalent. Both are employed in factories, healthcare industry, aerospace industry, automobile industry, and other establishments.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/industrial-racking-systems-market-101026


Partnerships among Companies to Secure their Brand Values in the Global Market


Prominent industrial racking system players are constantly opting for effective strategies to promote their products and establish their positions in the market. One such strategy is to launch new products by partnering with other companies to extend their reach to end-users.


Notable Industry Development



  • September 2022: Coca-Cola has teamed with SSI SCHAEFER, a maker of warehouse racking solutions for food and beverage distribution. Through this relationship, SSI SCHAEFER was able to provide the Coco-Cola firm cutting-edge and unique racking solutions for efficient movement and stacking of its beverage bottles, which are delicate by nature when constructed of glass.


List of Key Players Covered in the Report



  • Ridg-U-Rak Inc. (U.S.)

  • Kardex (Switzerland)

  • Averys SA (Argentina)

  • SSI Schaefer (U.S.)

  • Gonvarri Material Handling (Norway)

  • PROMAN, S.r.l. (Romania)

  • AR Racking (Spain)

  • ARPAC (U.S.)

  • North American Steel Equipment Inc. (Canada)

  • AK Material Handling Systems (U.S.)


Further Report Findings


Based on system type, the market is classified into cantilever racking system, drive-in/drive-thru pallet racking system, selective pallet racking system, push back pallet racking system, and others (pallet flow system). Selective pallet racking systems segment is anticipated to witness major growth during the forecast period.


In the Asia Pacific region, the food & beverage and retail industries are predicted to account for noteworthy consumption of shelving methods during the forecast period. Also, the huge population growth rates in China and India are expected to create demand for processed foods and boost the retail sector in these countries, thereby holding a major industrial racking systems market share.


Table of Segmentation












































  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




Industrial Racking Systems Market
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