PALLET RACKING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The pallet racking market is estimated to be valued at USD 10.73 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031. Pallet racking refers to the storage systems consisting of upright frames, beams, and pallets used for storing, transporting, and protecting various products and materials in a warehouse or distribution center. They are one of the most common material handling systems utilized globally to maximize the storage space. Pallet racking allows for the high density storage of pallets and easy access to loads through the use of selective racking which improves productivity and efficiency. The growing e-commerce sector coupled with the outsourcing of manufacturing has increased the demand for warehouse spaces and automated storage solutions over the past few years.

Market Dynamics:

The global pallet racking market is driven by factors such as rapid growth of the e-commerce and third-party logistics industries. Rise in the demand for inventory management and automation solutions that optimize storage capacity are expected to further propel the market growth during the forecast period. However, high installation and maintenance costs associated with advanced pallet racking systems are expected to restrain the market growth. Growing popularity of automated guided vehicles and robotic solutions integrated with racking systems presents lucrative opportunities for manufacturers to develop innovative products. Moreover, shift towards industrial automation and industrial internet of things is expected to positively impact the demand.

Key Features of the Study:

• This report provides in-depth analysis of the global pallet racking market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global pallet racking market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Averys, AR Racking, SSI SCHAEFER, KION Group, Steel King, Advance Storage Products, Unarco Material Handling, Daifuku Co., Ltd., Mecalux S.A., Kardex Group, Hannibal Industries, Inc., Emrack International, Jungheinrich AG, AK Material Handling Systems, SSI Schaefer Group, Dematic, and Toyota Industries Corp.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global pallet racking market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global pallet racking market.

Detailed Segmentation-

• By System:
• • Mobile Racking
  • Conventional
  • Shuttle Racking and Hybrid/Customized Racking
• By System Racking Type:
• • Cantilever Racking
  • Selective Racking
  • Push Back Racking
  • Drive-In Racking
  • Pallet Flow Racking
  • Others
• By Load Capacity:
• • Up to 5 Ton
  • 5 - 15 Ton
  • Above 15 Ton
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • Averys
  • AR Racking
  • SSI SCHAEFER
  • KION Group
  • Steel King
  • Advance Storage Products
  • Unarco Material Handling
  • Daifuku 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.