Global Warehouse Racking Market: Snapshot

Warehouse racking systems of various types have become an integral part of operations in and inventory requirements of a warehouse. The key aims have been making optimal use of warehouse floor space, maximizing workers’ productivity, and minimizing inventory handling costs. Industries are adopting range of pallet systems that best meet their needs of warehouse design, the type of goods and materials stored, capacity intended, and the specific picking process employed. These considerations also help in choosing the choice of materials pallets should be made of.

Advances in material handling systems used in warehouses have expanded the potential of the warehouse racking market. Some of the common types of pallet systems used in warehouse racking market are selective pallet rack, double deep, pallet flow rack, and drive-in/drive-out rack. Over the past few years, the role of warehouse racking systems has increased considerably. The lack of an apt system might disrupt companies’ performance if not taken seriously. A case in point is billion dollar startup based in the U.S. offering clothing rental service for women. Lately, delay in upgrading its warehouse racking system has made a huge dent in its perception among its customers.

Global Warehouse Racking Market: Notable Developments

Over the past few years, growing numbers of businesses in several industries have begun expanding and updating their warehouse management systems. These initiatives are further fueled by increasing trend of organized logistics gathering currency in some parts of the world. 

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Recently, a shipping service based in Malaysia, announced that it has opened a new warehouse at the Port of Tanjung Pelepas. The company aims to take advantage of Free Economic Zones within the port to avoid custom and excise duties. The facility houses selective pallet racking system, among other infrastructure. The motivation for this facility stemmed from the need for providing better storage and cost-effective distribution solutions, along with value-added services, to FMCG customers. The warehouse racking infrastructure will help it to emerge as a warehousing and distribution hub, by extending its footprint beyond Malaysia. In various other parts of the world, rise in demands for FMCG products have cemented the potential of the warehouse racking market.

Global Warehouse Racking Market: Growth Dynamics

Rising demands for pallet racking systems for a cost-effective and timely movement of goods is a key factor driving the warehouse racking market. Growing volumes of cross-border retail deliveries have bolstered the market’s prospects. The warehouse racking market has also benefitted from growing numbers of contract logistics and distribution services in numerous developing and developed countries over the world.

Over the past few years, developed countries such as the U.K. have seen an increasing trend of automation of warehouses. This is opening new lucrative avenues. Furthermore, expanding product portfolio of storage systems is a notable trend spurring the demand for new designs and materials in pallet racking systems. A large catalysis for the growth in the warehouse racking market also comes from the ever-growing need for storage of frozen foods in various parts of the world. The sheer pace of expansion in e-commerce sales in emerging economies has spurred the demand for larger warehouse racking. Growing bulk storage needs in various parts of the world is also boosting prospects in the warehouse racking market.

A number of other retail businesses have also suffered crippling inconsistencies in the meeting the consumer demands due to the lack of appropriate warehouse racking. In this regard, growing demand for automated storage and retrieval systems in warehouse infrastructure has also opened new avenues for players in the warehouse racking market.

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Global Warehouse Racking Market: Regional Assessment

Some of the key regions in the warehouse racking market are Asia Pacific, North America, Europe, and Latin America, the Middle East, and Africa. Especially, Europe and North America have been lucrative for the last few years. The growth in these regional markets have been fueled by uptake of new concepts and designs in warehouse racking systems. Further, a fast expanding e-commerce industry has also cemented the potential of these regions in the global warehouse racking market.

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.

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