According to Persistence Market Research, the global industrial racking systems market is expected to witness a CAGR of 7.5% between 2021 and 2031.
The ongoing trend regarding industrial racking systems market is that of shortage of modern warehouse facilities. This drives the demand for industrial racking systems. Also, smart racking systems are being asked for. Also, the old ones need to be rebuilt, so that they could be used effectively.
Industrial Racking Systems Market Distillation
Industrial racking systems market, by carrying capacity, spans heavy duty, medium duty, and light duty. Design-wise, it’s racking (selective racking, cantilever racking, push back racking, narrow & wide aisle racking, drive-in-racking, pallet flow racking, and carton flow racking) and mobile racking (shelving, boltless shelving, open & closed shelving, single & multi-tier shelving, drawers & cabinets, and mobile, pigeon hole, Mezzanine shelving. End-use-wise, it’s automotive, construction, chemical & pharmaceutical, food & beverage, retail & general purpose, e-Commerce, 3PLs, and textile & other manufacturing.
North America holds the matured share of industrial racking systems market. This could be attributed to easy installation processes and adaptability. Also, the number of warehouses in North America is increasing at an alarming rate. The sectors contributing to this increase include agriculture, manufacturing, food and beverages, semiconductors, and likewise. Europe comes in second with loads of manufacturing companies making use of industrial racking systems for storing materials systematically. They are also looking forward to smart warehouses to smoothen the flow of packages. The emerging markets in this regard include Mexico, India, China, and Brazil. The market in Southeast Asia is expected to be turned around by India.
The key players in industrial racking systems market include Kardex, Averys SA, Jungheinrich AG, Mecalux, S.A., Daifuku Co., Ltd., SSI Schaefer, Ridg-U-Rak Inc., Foothills Systems, Hannibal Industries, Cornix SA, Gonvarri Material Handling, ARPAC, ARPAC, AK Material Handling Systems, North American Steel Equipment Inc., EMRECK International, PROMAN, s.r.o., Nedcon B.V., and AR Racking.
Coming to developments, ATOX Storage Systems, in May 2019, did install metal racks for a Madrid-based pharmaceutical company in controlled chamber having 750-pallet capacity. A year before, Ridg-U-Rak tabled Extendo-Max100V Roll-out shelves featuring a “V” roller shelf-guide mechanism. Their capacity is 3,000 pounds/shelf.
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The Way Forward
Call for safety would continue to drive the industrial racking systems market in the forecast period. There would be selections on the basis of installations and carrying capacity further. This growth is expected to be uniform all across.