Pallet Storage Racks Market: Market Overview
Any economy is driven on the basis of product flow from the manufacturing unit to the consumption site. Logistics have multiple activities such as material handling, packaging, inventory and supply chain management and transportation. Hence the logistics play a major part in the growth of the economy and so the pallet storage racks have high importance in the logistics sector. Technical advancements by the manufacturers introduced a rigid rack structure, pallets and attachment products which enhanced the market of pallet storage racks market. Industrial machinery is going to be the important driving factors behind the magnifying demand of pallet storage racks market in the near future.
Pallet Storage Racks Market: Market Dynamics
Rising warehouse rent have forced manufacturing companies to use storage racks, which improved the growth of pallet storage racks market on a great extent. Along with this, an increase in labor cost is also a major factor behind choosing the option of use of the pallet storage racks market. The end-user industries of pallet storage racks market should focus on the cost factors. The strong need for effective space utilization has been developed the demand for pallet storage racks market. Additionally, technological advancement and innovations helped in reduction of labor costs further. The inclination of various industries is to enhance or upgrade the existing warehouse system rather implement a new one. Thus, the demand for stand-alone and integrated systems are growing fast.
There are few factors which affect negatively on the demand for pallet storage racks market. Pallet storage racks need increased time spent loading capacity and unloading product or stock lines. The pallet storage rack is not a cost-effective solution for high-volume storage and also it gives limited storage height which is not sufficient for heavy machinery.
Pallet Storage Racks Market: Segmentation
On the basis of system type, the global pallet storage racks market is segmented as follows-
- Mobile Racking
- Hybrid/Customized Racking
- Conventional
- Shuttle Racking
On the basis of the racking system type, the global pallet storage racks market is segmented as follows-
- Selective Pallet Rack
- Narrow Aisle Rack
- Drive-in Rack
- Push-back Rack
- Gravity Flow Rack
- Mezzanine
- Others
On the basis of frame load capacity, the global pallet storage racks market is segmented as follows-
- Up to 5 Ton, 5-15 Ton
- Above 15 Ton
On the basis of application, the global pallet storage racks market is segmented as follows-
- Cases & Boxes
- Pipes & Panels
- Tires
- Drums & Pails
- Rigid Sheets
- Timber & Rolls
- Trays & Crates
- Others
On the basis of end-use industry, the global pallet storage racks market is segmented as follows-
- Packaging
- Food & Beverage
- Electrical & Electronics
- Healthcare
- Metal Processing & Manufacturing
- Building & Construction
- Chemical
- Logistics & Warehousing
- Mining
- Others
Pallet Storage Racks Market: Regional Outlook
North America is leading the global pallet storage racks market. The factors such as technological advancements, early adoption of racking systems, rooted distribution network, and continuous innovations for storage space optimization reflected into high demand for mold rack market in countries like US and Canada. The retail and food sectors are expanding at rapid speed in the European and ASEAN regions, which has become an important contributor to the growth of pallet storage racks market. Extensive population growth in China and India demands high volumes of packaged food products, is anticipated to drive the retail industry in these countries, thus impacting the pallet storage racks market positively. Industrialization is growing at a faster rate in the East and South Asian countries, which led to the growth of the construction sector. This is a major advantage for the pallet storage racks manufacturers to sustain in this market during the forecast period.
Pallet Storage Racks Market: Key Players
Some prominent players in the global pallet storage racks market:
- Stora Enso Oyj
- Georgia-Pacific LLC
- Canfor Corporation
- International Paper Company
- Clearwater Paper Corporation
- UPM-Kymmene Oyj
- P.H. Glatfelter Co.
- Domtar Corporation
- Mitsubishi Paper Mills Limited
- Verso Corporation
- BillerudKorsnäs AB
- Burgo Group SPA
- Twin Rivers Paper Company Inc.
- American Eagle Paper Mills
- Delta Paper Corp.
- Catalyst Paper Corporation
- Asia Pacific Resources International Holdings Ltd.
- Rolland Enterprises Inc.
- Alberta Newsprint Company Ltd.
- Finch Paper LLC.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on pallet storage racks market segments and geographies.
Regional Analysis Includes-
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
Reports Highlights:
- A detailed overview of parent market
- Changing pallet storage racks market dynamics in the industry
- In-depth pallet storage racks market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments in the pallet storage racks market
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for players to sustain and enhance their market footprint
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
