Pallet Racking System Market to Witness Steady Growth at 7.8% CAGR By 2025
Wednesday, August 07, 2019
Press release from the issuing company
The Global Pallet Racking System market was valued at $8.01 billion by 2026, with a projected CAGR of 7.8% during the forecast period. Pallet rack is a material handling storage aid system aimed to store materials on pallets. The increased demand for end-to-end services driven by established end-users creates new storage, warehouse space requirements.
The global pallet racking system market is segmented based on the system, racking system, frame load capacity, application, end-user industry, and geography. The system segment includes mobile racking, shuttle racking, and hybrid and customized. By racking system segment, the categorization is given as selective pallet rack, narrow aisle rack, drive-in rack, push-back rack, gravity flow rack, mezzanine, and others. by frame load capacity segment, the segmentation comprises of Up to 5 ton , 5 to 10 ton, 10 to 15 ton, and Above 15 ton. The application segment is divided into the cases & boxes, pipes & panels, tires, drums & pails, rigid sheets, timber & rolls, trays & crates, and others. On the basis of the end-user industry segment, the bifurcation is given as packaging, food & beverages, electrical & electronics, healthcare, metal processing & manufacturing, building & construction, chemicals, logistics & warehousing, mining, and others.
Selective Pallet Rack
Up to 5 Ton
Cases & Boxes
Asia Pacific is projected to enjoy lucrative growth opportunities for pallet racking systems during the forecast period. Asia Pacific accounts for the highest market share, and is expected to witness significant growth over the forecast period, at a CAGR of 9.4% by value. The growing need for organized logistics to improve time, cost, and quality efficiencies in regions such as China, Southeast Asia (SEAP), and India is propelling opportunities for the growth of the pallet racking systems market.Furthermore, geographical coverage has been offered for each of the major regions including North America, Asia-Pacific, Europe, Row, and South America.
The companies profiled in the pallet racking systems report include Daifuku Co., Ltd., KARDEX AG, Interroll Dyanmic Storage., Jungheinrich AG., SSI Schaefer, AVERYS Group, Mecalux SA., NEDCON B.V., Estral Innovation and Applied Logistics, Dexion Gmbh., Montel Inc., Hannibal Industries, Inc., Elite Storage Solutions Inc., Ridg-U-Rak Inc., Atox Sistemas De Almacenaje, S.A., Vertice Diseño S.A., Poveda & CIA., Frazier Industrial Company, DR Storage Systems, Storage Equipment Systems, Inc., Gonvarri Material Handling, Stöcklin Logistics de México, AR Racking, Proman S.R.O., and AK Material Handling Systems.
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