Warehouse Racking Market Size Worth $12.41 Billion By 2030 (2024)

April 2023 | Report Format: Electronic (PDF)

Warehouse Racking Market Growth & Trends

The globalwarehouse racking market size is expected to reach USD 12.41 billion by 2030, registering a CAGR of 4.1% according to a new report by Grand View Research, Inc.The demand for warehouse racking is expected to witness significant growth owing to the rising awareness of the benefits of systematic storage and easy material handling processes.

Warehouse racks manufactured using steel are popularly used in automotive, retail, manufacturing, and other applications as it is robust and durable. The warehouse racks manufactured using steel exhibit superior durability. The cost of steel-based warehouse racks is low, and these products can be constructed for normal floor units and high-rise shelving systems.

The product manufacturers operating in the market include Hannibal Industries, Georgia-Pacific, Dematic, SSI Schaefer, EMRACK INTERNATIONAL, and others. These market players introduce warehouse racking systems incorporated with advanced technologies such as sensors, robotics, and others. The use of the aforementioned technologies helps in making warehouse operations more efficient.

Expansion of various application industries such as automotive, manufacturing, retail, food and beverage, and others across the globe is projected to promote the demand for storage of goods. Rising demand for warehouse space in order to store and gain easy access to the products is anticipated to propel the need for optimizing the warehouse space.

The warehouse racking market players offer collision-resistant, earthquake-resistant, clean, wire mesh racking systems focusing on the safety and protection of the workplace. The manufacturers are inclined towards warehouse management software systems and other automation techniques to minimize the retrieval and processing time in the warehouse and the control systems enabling the workers' safety.

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Warehouse Racking Market Report Highlights

• The growing demand for cantilevers in warehouse racking is likely to drive its growth at a CAGR of 5.0% over the forecast period. The use of cantilever racks is expected to emerge as one of the fastest-growing product segments driven by the ease of storage and retrieval of products with varying weights, sizes, and lengths. These racks exhibit an easy installation and assembly with only a few components needed to build the product storying and holding structure

• The selective pallets segment is expected to reach USD 5.8 billion in revenue by 2030, owing to its superior selectivity in warehouse applications. Selective pallets are the most common and widely used racking system and are expected to witness high demand from various application industries such as retail, food & beverages, automotive, and others. The system provides efficient use of space and quick access to the load or product stored using any type of forklift. However, the system requires numerous aisles for higher selectivity, making it a low-density option when compared to the other type of racking system

• The retail segment is anticipated to dominate the market accounting for 34.35% of the market in 2022. The retail application segment accounts for the largest share and acts as vital to the overall growth of the market owing to the increasing number of warehouses, online retail, supermarkets, hypermarkets, food retails, and others. Increasing demand of product multi-channel fulfillment, sales cycles, and storage density requirement of large volume products are the key factor that is adding significant growth to the overall market for warehouse racking

• The U.S. accounted for a market share of 65.3% of the North America warehouse racking market in 2021. The economy caters large e-commerce market, superior infrastructure & automation facility, and a highly skilled workforce which is further expected to make the same economy more favorable for growth. Timely movement of goods and a cost-effective racking system is the major factor driving the market for warehouse racking in U.S.

• Innovators majorly deal with introducing robotics, software, and remote-controlled processes and automation in the racking systems. The market witnessed the acquisition of robotics startup companies by some of the prominent players. It enhances the product portfolio of the companies and enables them to offer automation

Warehouse Racking Market Segmentation

Grand View Research has segmented the warehouse racking market based on product, application, and region:

Warehouse Racking Product Outlook (Revenue, USD Million, 2018 - 2030)

• Selective Pallets

• Drive-in

• Push Back

• Pallet Flow

• Cantilever

• Others

Warehouse Racking Application Outlook (Revenue, USD Million, 2018 - 2030)

• Automotive

• Food & Beverage

• Retail

• Packaging

• Manufacturing

• Others

Warehouse Racking Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

  • Italy

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

  • UAE

List Of Key Players Of Warehouse Racking Market

• Daif*cku Co., Ltd.

• Mecalux S.A.

• Kardex Group

• Hannibal Industries, Inc.

• Emrack International

• Jungheinrich AG

• AK Material Handling Systems

• SSI Schaefer Group

• Dematic

• Toyota Industries Corp.