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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
  • 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
  • Durable, strong, secure, and capable of expansion.
Hannibal Industries Push-Back Pallet Rack Systems
  • Push-back racking represents a high-density storage system where a sequence of nesting carts rolls back into the system incrementally with each new pallet addition.
  • Utilizing inclined rails, gravity facilitates the forward movement of carts during unloading, revealing the subsequent cart in the process.

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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)

Explore More Related Studies Published by Fact.MR Research:

Logistics Robot Market: The logistics robot market is estimated to reach valuation of US$ 7,115.6 Million in 2023 and will top US$ 22,699.1 Million by 2033, growing with a CAGR of around 12.3% from 2023-2033.

Intralogistics Market: The global intralogistics market is predicted to expand at a high-value CAGR of 14.8% to climb from a market valuation of US$ 18.94 billion in 2022 to US$ 75.36 billion by the end of 2032.

Intralogistics Containers Market: The global intralogistics containers market has reached a value of US$ 7.9 billion in 2022 and is expected to expand rapidly at a CAGR of 6.3% to top US$ 14.5 billion by the end of 2032.

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.

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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