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Pallet Racking Global Market Report 2022
Major players in the pallet racking market are Mecalux SA, Estral Innovation and Applied Logistics, Jungheinrich AG, Montel Inc, Hannibal Industries Inc. , Elite Storage Solutions Inc. , SSI Schaefer, Interroll Holding Limited, ATOX SISTEMAS DE ALMACENAJE, Stora Enso Oyj, Georgia-Pacific LLC, Canfor Corporation, International Paper Company Corporation, BillerudKorsnäs AB, Burgo Group SPA, Delta Paper Corp.
New York, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pallet Racking Global Market Report 2022" - https://www.reportlinker.com/p06319512/?utm_source=GNW
, Catalyst Paper Corporation, Asia Pacific Resources International Holdings Ltd., Rolland Enterprises Inc., Alberta Newsprint Company Ltd., and Finch Paper LLC.
The global pallet racking market is expected to grow from $9.41 billion in 2021 to $10.35 billion in 2022 at a compound annual growth rate (CAGR) of 10%. The pallet racking market is expected to grow to $13.83 billion in 2026 at a CAGR of 7.5%.
The pallet racking market consists of sales of pallet racking services by entities (organizations, sole traders, and partnerships) that are used for bulk storage of items in distribution facilities.It’s a single or multi-level storage system that allows for the high stacking of single objects or palletized cargo.
Pallet racks are composed of vertical upright frames and horizontal load beams designed specifically for the loads being stored.
The main types of systems in the pallet racking market are conventional, mobile racking, shuttle racking, and hybrid/customized racking.A mobile racking system is a system where racks are built on a mobile base and guided by rails on the floor.
The different frame load capacities include up to 5 tons, 5 to 10 tons, and above 15 tons.The several types of racking systems are cantilever racking, selective racking, push back racking, drive-in racking, pallet flow racking, and carton flow racking.
It is employed in healthcare, food and beverage, electronics, packaging, building and construction, chemicals, and other end users.
Asia Pacific was the largest region in the pallet racking market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the pallet racking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The pallet racking market research report is one of a series of new reports that provides pallet racking market statistics, including global market size, regional shares, competitors with a pallet racking market share, detailed pallet racking market segments, market trends and opportunities, and any further data you may need to thrive in the pallet racking industry. This pallet racking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The increasing demand for warehouse space is expected to propel the growth of the pallet racking market going forward.Industrial racking systems are designed to support goods in a warehouse.
With the rise of online shopping, the need for warehouses has increased to the point that a vast global logistics and distribution network is required.For instance, according to CBRE, a US-based real estate firm, e-commerce will account for one-quarter of all retail sales by 2025, which will require an additional 330 million square feet of warehouse space to accommodate the goods.
Therefore, the demand for warehouse space is driving the growth of the pallet racking market.
The emergence of automated clad-rack warehouses is a key trend gaining popularity in the pallet racking market.Major companies operating in the pallet racking sector are focused on new innovative products to gain a competitive advantage.
For instance, in September 2019, Cabezuelo Foods, a Spain-based producer of pre-cooked, deep-frozen foods, launched a new automated clad-rack warehouse with the help of their partner company, Mecalux, a Spain-based warehouse solution provider.The new automated clad-rack warehouse has a pallet shuttle system run by transfer cars with a total storage capacity of 5,280 pallets.
The new system has been launched in the village of Socuéllamos (Spain).
In April 2021, Industrial Workspace Specialists (IWS Group) Ltd., a UK-based industrial workspace company, acquired The Rack Group for an undisclosed amount. For The Rack Group, the acquisition would strengthen its resources, infrastructure, and capability to provide its customers with the highest standards of service, customer care, and innovation. It will also allow Rack Group to offer its customers a wider breadth of service and product solutions. The Rack Group is a UK-based company that provides pallet racking safety, inspection, repair, and maintenance services.
The countries covered in the pallet racking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06319512/?utm_source=GNW
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