Market growth of pallet rack worldwide
Import-export activities and rising labor costs are the main influences for the development of automatic racking systems. The strong growth in demand for warehouse shelves and the growth of e-commerce is expected to be a significant driving force for the growth of storage racking systems in the world in the coming years.
The development of textile, retail, e-commerce and manufacturing industries has a strong impact on the development of the logistics industry, which is expected to increase by 10-15% in the following years. This shows that the demand for logistics and transport will create demand for warehouse space on a large scale. Therefore, the strong growth in automation in warehouse space, along with the growth of e-commerce is the main reason for the specific growth projections in the global racking pallet racking market.
Market growth of pallet rack
Geographically, Asia Pacific will be the region with the highest growth in demand for warehouse systems. India is expected to be the leading country in terms of the highest growth rate because the state policies mainly focus on manufacturing and e-commerce. The Indian government has also taken a number of initiatives to transport goods on their railways across the country with links between major cities and ports. This development provides the market for industrial storage shelves a great growth. In North America, the United States and Canada, it is considered a major focus area of the warehouse system. The United States due to export-focused policies combined with the growth of the e-commerce industry that led to the growth of this shelf market.
Globally, the market for the traditional warehouse industry is more widely developed than the automated storage industry by the development of high-tech equipment. A number of businesses: Averys, SSI Schaefer, Unarco Material Handling, … are leading the market for automated storage racks with the most modern and optimal handling software. At the same time, North America projected 27% market share in 2017 because of their technology needs and conditions on warehouse shelves.
Economic fluctuations in 2020 will affect the warehouse market in the year and the following years will cause the growth of the warehouse industry. However, it will not hinder the growth and storage market because human demand is still high, the manufacturing industry continues to grow, making the warehouse market a promising market. next years.