Persistence Market Research
Warehousing of industrial output has generated the need for material handling equipment, and industrial racking systems offer a solution for this requirement. From aerospace to construction, all industries require well maintained storage systems for proper preservation of their product line, which is the main factor spurring growth of the industrial racking system market. The industrial racking system offers optimum techniques for storage in different forms, such as pallet racks, light duty and heavy duty racks, shelving racks and others. Conventional storage racks have insecure working conditions, due to which the racking system evolved with new technologies, including satellite pallet racking, auto-shuttle racking and gravity flow pallet racking.
Mobilized pallet racks have helped organizations eliminate or reduce building construction costs, building expansions, auxiliary warehouses and lessened ongoing operational costs by capitalizing the use of their storage floor space. The industrial racking system makes warehouse design and product flow optimization flexible with low initial investment. Furthermore, there is rising demand from industries to provide storage facilities for their goods and bonded warehousing is an added new field, which is now increasingly being made available to these organizations. Specialized fumigation service is another offshoot of the warehousing business, which boosts the demand for industrial racking systems.
Global Industrial Racking System Market: Dynamics
Growth of industrial racking systems can be attributed to their ability to maximize storage space and safety. Pallet racking provides accessibility for each pallet and this is perfect for gaining supply chain efficiency. In industrial racking systems, optimal storage design becomes a wooing factor for market growth. Qualities, such as storage density, low maintenance and others, achieve greater market hype for the industrial racking system market.
Industrial racking systems are not designed to withstand seismic activities, such as earthquake, tsunami, and flood. Moreover, goods stored in an industrial raking system should be restrained to prevent them from creeping and falling from the racking system. The aforementioned natural disasters make racking systems unsuitable for storage purpose. These are factors hindering growth of the industrial racking system market.
Global Industrial Racking System Market: Segmentation
The industrial racking system market can be segmented on the basis of application, design and carrying capacity.
On the basis of design, the industrial racking system market can be segmented as:
On the basis of carrying capacity, the industrial racking system market can be segmented as:
On the basis of application, the industrial racking system market can be segmented as:
Global Industrial Racking System Market: Regional Outlook
The Europe market is expected to dominate the global industrial racking system market, owing to the high adoption of automation in the automotive industry in countries, such as Germany, France and others. The Asia pacific region is anticipated to grow due to a rise in the number of manufacturing facilities in some countries, such as India and China. India is predominantly an agricultural economy and agriculture commodities need warehousing for storage purpose, in turn necessitating industrial racking systems. North America, followed by Asia Pacific, is expected to exhibit significant growth due to the elevated demand for safety handling equipment and growing construction industry in the U.S. market. Consequently, the Latin America market is expected to show steady growth in the industrial racking system market over the forecast period. Demand from the Middle East and Africa region for material handling equipment is slated to be sluggish, due to steady industrialization in e-commerce, food and packaging, pharmaceutical and chemical industries.
Global Industrial Racking System Market: Market Participants
Examples of some of the market participants in the industrial racking system market are:
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