Pune, India, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The Global Industrial Racking Systems Market was valued USD 10,179.2 Million in 2018. The global market size is expected to reach USD 15,186.1 Million by 2026, exhibiting a CAGR of 5.2% during the forecast period from 2019-2026. Fortune Business Insights, provide this information in its report, titled, "Industrial Racking Systems Market, 2019-2026."
According to our analysts, the factors such as growth in the coming years due to recent product advancements. Increasing Number of Product Launches Will Enable Growth
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2019-2026 |
| Forecast Period 2019 to 2026 CAGR | 5.2% |
| 2026 Value Projection | USD 15,186.1 Million |
| Base Year | 2018 |
| Market Size in 2018 | USD 10,179.2 Million |
| Historical Data for | 2015-2017 |
| No. of Pages | 120 |
| Segments covered | By Type, By Industry Verticals, By Region |
| Growth Drivers | Increasing Product Launches Will Favor Market Growth |
| Establishment of Newer Storage Facilities, Due to Shortage in Existing Warehouses Will Subsequently Aid Demand for Industrial Racking Systems |
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Drivers and Restraints:
Increasing Product Launches Will Favour Market Growth
Rapid industrialization has led to a high number of industrial warehouses around the world. Resulting from the high demand, there is an increase in the number of product launches, which in turn has contributed to the global industrial racking systems market growth in recent years. Shelving Concepts' Amoruso Racking has been one of the most widely used products in the industrial racking systems market. The product was introduced with the aim of handling heavy-duty pallets and providing cantilever-racking options. Amoruso's success has had a major impact on the global industrial racking systems market.
Fortune Business Insights has identified increasing products launches as one of the primary factors that will account for the growth of the global industrial racking systems in the coming years. The report encompasses several other factors that have contributed to significant growth of the market in recent years and identifies potential factors that are likely to have a major say on the market growth in the coming years.
Establishment of Newer Storage Facilities, Due to Shortage in Existing Warehouses Will Subsequently Aid Demand for Industrial Racking Systems
The shortages in warehouse spaces have led to the need to set up more industrial warehouses and storage facilities. The ability of industrial racking systems to provide efficient storage options within compact spaces will create a high demand for these products in the coming years. Increase in trade activities will offer several opportunities for industrial racking systems market growth. Furthermore, increasing e-commerce activities will also contribute to the demand for industrial racking systems, worldwide. Existing industrial racking systems are being modified to meet modern standards, which in turn will aid the growth of the overall market. The report provides a comprehensive review of activities such as company mergers, business takeovers, product innovations, and regional segmentation and gauges the impact of these factors on the global industrial racking systems market.
Industry Developments:
May 2019: The Company named ATOX Storage Systems installed metal racks for the pharmaceutical company, which is based in Madrid, Spain. This installation was carried out in a temperature-controlled chamber with the capacity of 750 pallets.
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List of Key Players Mentioned in the Report:
- Ridg-U-Rak Inc.
- Kardex
- Averys SA
- SSI Schaefer
- Gonvarri Material Handling
- PROMAN, S.r.l.
- AR Racking
- ARPAC
- North American Steel Equipment Inc.
- AK Material Handling Systems
Key Benefits for Industrial Racking Systems Market:
- The Industrial Racking Systems market analysis covers in-depth information of major industry participants.
- Porter's five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The report provides an in-depth analysis of the Industrial Racking Systems market during the forecast period.
- The report outlines the current market trends and future scenario of the global Industrial Racking Systems market to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and opportunities and their detailed impact analysis is elucidated in the study.
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Competitive Landscape:
The market houses a large number of companies that are mainly focusing on signing new agreements with other renowned firms. A few of them are developing novel technologies and product ranges to fulfil the unmet demand.
Industrial Racking Systems Market Segmentation:
By Type
- Cantilever Racking System
- Drive-in/Drive-thru Pallet Racking System
- Selective Pallet Racking System
- Push Back Pallet Racking System
- Others
By Industry Verticals
- Retail
- Manufacturing
- Packaging
- Food and Beverages
- Pharmaceuticals
- Others
By Region
- North America (USA and Canada and Rest of North America)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Table of Contents
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Switchgear Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
Continued…
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