Industrial Racking Systems Market Size, Share, Growth Analysis, By System Type(Cantilever Racking System, Drive-in or Drive-thru Racking System, Selective Racking System, Push Back Racking System), By End User(Automotive, Food, Beverage, Retail), By Region - Industry Forecast 2024-2031

Global Industrial Racking Systems Market size was valued at USD 10.55 billion in 2022 and is poised to grow from USD 11 billion in 2023 to USD 15.41 billion by 2031, growing at a CAGR of 4.3% in the forecast period (2024-2031).

Trade volume, the manufacturing industry, and e-Commerce are all closely related to the global market for industrial racking systems. Industrial racking systems and the material handling sector continue to have a strong relationship with the general economy: if GDP is increasing, then the supply chain's overall demand for storage should increase as well.

Worldwide, a variety of cargo-related transportation and freight industries make up the logistics sector. Since it oversees the movement of commodities from their point of origin to their eventual destination, logistics is regarded as one of the most fundamentally important industries in every economy. The business includes all aspects of shipping security, procurement, supply chain management, inventory management, transportation, packing, warehousing, and material handling.

The growth of warehouse construction and freight in the US is a sign that the country's economy is expanding and getting stronger. Additionally, due to a lack of contemporary storage facilities, e-Commerce enterprises in the US are anticipated to encounter fierce rivalry for space. There is a sizable potential to build new warehouses and renovate existing ones to meet current standards given the dearth of modern warehouse space in the US and the growth of e-Commerce. The international market for industrial racking systems is anticipated to increase as a result of a thriving e-commerce industry.

US Industrial Racking Systems Market is poised to grow at a sustainable CAGR for the next forecast year.