Global Industrial Racking System Market Value to total US$ 12,521 million in 2024; Mobile Racking to constitute over 50% revenue
Rockville , Dec. 21, 2023 (GLOBE NEWSWIRE) — The global industrial racking system market is estimated at US$ 12,521 million in 2024, projected to grow steadily with a 5.6% CAGR through 2034. The market is projected to reach a valuation of US$ 21,591.3 million by 2034.
Innovations and technological advancements take center stage in this dynamic landscape, driving manufacturers to develop advanced racking systems that enhance storage capacity and streamline inventory management. The automotive and logistics sectors are key contributors to this market expansion, leveraging industrial racking systems to ensure organized and efficient inventory management. The rise of e-commerce further fuels adoption, where these systems play a pivotal role in managing the storage and retrieval of products in the rapidly expanding online retail sector.
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Manufacturing facilities also play a crucial role in the market’s ascent, recognizing the significance of organized storage for seamless production processes. Continuous technological advancements and innovations characterize the industry’s evolving trend. Manufacturers strive to develop systems offering higher storage capacities and improved operational optimization. Integrating smart technologies and data-driven solutions reflects a shift towards highly efficient and automated industrial racking systems.
As the market embraces innovation, the adoption of industrial racking solutions continues to escalate. The trend is a response to the demand for efficient storage solutions and a strategic move towards advanced technologies. This forward-looking approach ensures sustained growth and adaptability to changing market dynamics.
| Report Attribute | Details |
| Value Projection (2034) | US$ 21,591.3 million |
| Growth Rate (2024-2034) | 5.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 48 Tables |
| No. of Figures | 144 Figures |
Key Takeaways from the Market Study
- The global industrial racking system market is projected to expand at a CAGR of 5.6% through 2034.
- The North America industrial racking system market is expected to grow at a remarkable CAGR of 5.8% through 2034.
- The industrial racking system industry in the United States holds a dominant share of 71.7% in 2024. The United States dominates the global industrial racking system market, valued at US$ 3,546.1 million in 2024.
- The industrial racking system industry in China is expected to rise at a CAGR of 6.3% through 2034.
- Based on the design, mobile racking holds a 50.9% market share in 2024.
- The medium duty segment dominates carrying capacities with a 46.2% share in 2024.
“The surge in demand for efficient storage solutions is a pivotal driver propelling the industrial racking system market. Industries across diverse sectors, including e-commerce, retail, manufacturing, and logistics, are increasingly recognizing the need for optimized warehouse operations,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Kardex AG
- SSI Schaefer
- Foothills Systems
- Hannibal Industries
- Cornix SA
- Gonvarri Material Handling
- ARPAC
- AK Material Handling Systems
- North American Steel Equipment Inc.
- EMRACK International
- Nedcon B.V.
Competitive Landscape
In the competitive landscape of the industrial racking system market, several key players contribute to the market’s dynamism. The market players focus on innovation and advanced storage solutions to cater to diverse industries, including logistics, manufacturing, and e-commerce.
Their contributions shape the industry’s evolution, fostering reliability, technological advancements, and a continual pursuit of excellence. As the industrial racking system market expands, competition remains a driving force for ongoing advancements and responsive solutions to meet the evolving needs of businesses across various sectors.
Product Portfolio of the industrial racking system market
| Key Player | Product | Key Insights |
| SSI Schaefer | Pallet Racks |
|
| Hannibal Industries | Push-Back Pallet Rack Systems |
|
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the industrial racking system market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on By Carrying Capacity (Light Duty, Medium Duty, Heavy Duty), By Design (Racking, Mobile Racking), By Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa)
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Automated Storage and Retrieval Systems Market: The global automated storage and retrieval systems (ASRS) market is expected to reach US$ 24 billion by 2032 from 10.2 billion in 2022.
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