Market Highlights
The Global Pallet Racking Market is estimated to witness significant growth during the forecast period owing to the rise in warehousing and logistics industries. The increase in global trade activities in emerging economies and a rise in trade-related agreements is likely to drive the global pallet racking market. The growing logistics and warehousing infrastructure and advancement in information technology and transportation industries are the prime factors, which is expected to create a higher demand for pallet racking.
However, the low warehousing spaces and higher inventory cost acts as a restraining factor for the global pallet racking market.
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Asia-Pacific is expected to witness the fastest growth in the global pallet racking market during the forecast period: MRFR
Based on region, the global pallet racking market is segmented as Europe, Asia-Pacific, North America, South America, and Middle East & Africa. Asia-Pacific is expected to dominate the global market, followed by North America. The market in Asia-Pacific is primarily driven by growing e-commerce logistics in China and India.
The global pallet racking market size was valued at USD 8.2 billion in 2018, which is expected to witness 6.8% CAGR during the forecast period.
The hybrid/customized racking segment is likely to hold the largest market share of the global pallet racking market: MRFR
The global market is segmented, based on system type, into conventional, mobile racking, shuttle racking, and hybrid/customized racking. The hybrid/customized system is estimated to hold the majority of market share in the forecast period.
The selective racking segment is expected to occupy the largest market share of the global pallet racking market: MRFR
The global market is segmented, based on racking system type, into cantilever racking, selective racking, push back racking, drive-in racking, pallet flow racking, carton flow racking, and others. The selective racking likely to dominate the global pallet racking market, with 31% share of the total in 2018, will likely to continue its dominance during the forecast period.
The hybrid/customized racking is likely to hold the largest market share of the global pallet racking market: MRFR
The global market is segmented, based on load capacity, into up to 5 ton, 5–15 ton, and above 15 ton. The 5–15 ton segment is likely to hold the largest share of the market as it is mostly used for small warehouses.
The warehouse & logistics segment is projected to hold the largest share in the global pallet racking market.
Based on end-use industry, the global pallet racking market is segmented into automotive, food & beverage, retail, manufacturing, warehouse & logistics, and others. The warehouse & logistics segment accounted for the largest market share in 2018 and is expected to witness the fastest growth during the forecast period.
Scope of the Report
This study provides an overview of the global pallet racking market, tracking four market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global pallet racking market by system type, stacking system type, load capacity, end-use industry, and region.
- By System Type
- Conventional
- Mobile Racking
- Shuttle Racking
- Hybrid/Customized Racking
- Racking System Type
- Cantilever Racking
- Selective Racking
- Push Back Racking
- Drive-In Racking
- Pallet Flow Racking
- Carton Flow Racking
- Others
- By Load Capacity
- Up to 5 Ton
- 5-15 Ton
- Above 15 Ton
- By End-Use Industry
- Automotive
- Food & Beverage
- Retail
- Manufacturing
- Warehouse & Logistics
- Others
- By Region
- North America
- Asia-Pacific
- Europe
- South America
- Middle East & Africa
Key Players
The prominent players in the global pallet racking market include Ridg-U-Rak (US), Averys (France), SSI SCHAEFER (US), Hannibal Industries (US), Mecalux (Spain), KION Group (Germany), Daifuku (Japan), Steel King (US), Elite Storage Solutions (US), AR Racking (Spain), Advance Storage Products (US), and Unarco Material Handling (US).
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