Pallet Racking Market 2022 by Global Key Players, Business Rising Awareness, Financial Plan and Trends by Forecast 2027

Overview

The pallet racking market is anticipated to grow rapidly at a CAGR of 6.8% during the forecast period. The global pallet racking market is driven by the need for a suitable space management system. These factors have helped shape the pallet racking market and are expected to boost the growth. Companies in the pallet racking market could also face challenges such as lack of awareness about automation technology as well as need for infrastructure overhauling. The details covered in the pallet racking market report cover all the aspects of the industry. Analysts studying the pallet racking market have also shared growth projections in the report and have suggested pallet racking market players to plan business strategies accordingly.

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Market Segmentation

The global pallet racking market has been segmented based on racking system type, system, rack load capacity, and end-use industry. On the basis of racking system type, the market for pallet racking is segmented based on carton flow racking, drive-in racking, pallet flow racking, push back racking, selective racking, cantilever racking, and others. Additionally, the market on the basis of system, is segmented into mobile racking, shuttle racking and hybrid/customized racking, conventional. The global market for pallet racking is also covered based on rack load capacity segment which is further split into up to 5 ton, 5–15 ton and above 15 ton. On the basis of end-use industry, the market for pallet racking is segmented based on food & beverage, manufacturing, retail, warehouse & logistics, automotive, and others.

Factors like growing transportation and logistics industries and e-commerce shopping trends support the pallet racking market growth. The performance of the pallet racking market has also been studied for the past and current years. Additionally, the pallet racking market report provides analysis of these segments. The pallet racking market segmental analysis provided in the report offers major details about the pallet racking market based on the data and forecasts till 2025.

Regional Overview

Based on region, the global pallet racking market is segmented as Europe, Asia-Pacific, North America, South America, and Middle East & Africa. Asia-Pacific is expected to dominate the global market, followed by North America. The market in Asia-Pacific is primarily driven by growing e-commerce logistics in China and India.

The global pallet racking market size was valued at USD 8.2 billion in 2018, which is expected to witness 6.8?GR during the forecast period.

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Scope of the Report

This study provides an overview of the global pallet racking market, tracking four market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global pallet racking market by system type, stacking system type, load capacity, end-use industry, and region.

Competitive Landscape

The pallet racking market is supported by  increasing use of smartphones and ecommerce apps. The population growth around the world and increasing demand of pallet racking market based services and products also support the market growth. However, the pallet racking market growth can be affected due to the slow pace of growth  in packaging and TPL industries. The report covers all such details which will help companies in the pallet racking market to strengthen their business plan and improve their product portfolio. The pallet racking market research report also provides company profiles of major companies. The company profiles of many organizations operating in the pallet racking market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the pallet racking market. New companies and established businesses can plan their strategies based on this data provided in the pallet racking market research report.

Key Players

The prominent players in the global pallet racking market include Ridg-U-Rak (US), Averys (France), SSI SCHAEFER (US), Hannibal Industries (US), Mecalux (Spain), KION Group (Germany), Daifuku (Japan), Steel King (US), Elite Storage Solutions (US), AR Racking (Spain), Advance Storage Products (US), and Unarco Material Handling (US).

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Industry News

Stonelake Capital Partners has purchased 6161 Bingle, a 127,513-square-foot commercial property located on 17 acres in the center of northwest Houston. This purchase marks Stonelake’s sixth industrial transaction in Houston in 2020 and its 18th industrial transaction in Houston in 2015. The vendor, Graybar Electric Company, had recently vacated the property and decided to sell the building quickly. Graybar was led by Andy Sowell, SIOR with Boyd Industrial, LLC. With Sowell’s assistance, Stonelake started to focus on the purchase of this practical, infill storage center near the intersection of Highway 290 and Bingle Lane. Stonelake and Graybar have agreed to the terms.

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