Pallet Racking Market Research Report—Global Forecast till 2030

Pallet Racking Market Research Report Information By System (Conventional, Mobile Racking, Shuttle Racking and Hybrid/Customized Racking), By System Racking Type (Cantilever Racking, Selective Racking, Push Back Racking, Drive-In Racking, Pallet Flow Racking, and Carton Flow Racking), By Frame Load Capacity (Up to 5 Ton, 5 - 15 Ton, and Above 15 Ton), By End-Use (Automotive, Food and Beverage, Retail, Manufacturing, and Warehouse), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

ID: MRFR/PNT/6860-CR | 120 Pages | Author: Snehal Singh | July 2022         

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Global Pallet Racking Market Overview


Pallet Racking Market Size was estimated at USD 10,486.5 million in 2021. The pallet racking industry is projected to grow from USD 11,199.5 million in 2022 to USD 17,750.09 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.8% during the forecast period (2022 - 2030). One of the main factors propelling the pallet-racking market is the rising demand for pallet-racking systems for the timely and cost-effective movement of goods. The increase in contract logistics and distribution services in developed and emerging nations is the key market driver enhancing pallet racking market growth.

Pallet Racking MarketSource: Secondary Research, Primary Research, MRFR Database and Analyst Review


Pallet Racking Market Trends




  • Growing e-commerce sector to drive market growth




The need for pallet racking in the e-commerce industry is expected to expand significantly over the forecast period, as will the rising number of warehouses and businesses in various nations. There were approximately 2.14 billion eCommerce customers ly as of 2021, an increase of 4.4% from 2020. High-end telecommunications technologies, such as 4G and 5G network technology, are becoming more widely used, which helps the e-commerce industry by increasing the usage of internet-based buying in the retail sector. Due to the increased need for industrial goods storage in the e-commerce sector, innovative and seamless pallet racking systems are in great demand. Therefore, the trend of e-commerce shopping has enhanced the market CAGR in recent years.


Figure1: Estimated worldwide e-commerce sales from 2014 to 2025 in billion
Estimated worldwide e-commerce sales from 2014 to 2025 in billion
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


A significant factor driving the pallet racking market is the increase in demand for pallet racking systems for timely and cost-effective goods movement. The growth of contract logistics and distribution services in developed and emerging nations ly has helped the pallet racking market. As of 20201, there are approximately 48,000 logistics companies in India and 8,70,000 logistics companies worldwide. A prominent driver of pallet racking market expansion in the pallet racking industry is the rising need for frozen food stores across the globe. The expanding logistics and distribution services are another factor driving the pallet-racking market revenue.


Pallet Racking Market Segment Insights


Pallet Racking System Insights


The pallet racking market segmentation, based on the system, includes conventional mobile racking, shuttle racking and hybrid/customized racking. The sector for mobile modular storage solutions is anticipated to grow due to the growing usage of these solutions in modular building systems, including sprinkler, electrical, and HVAC systems.


January 2020: Eaton and Enico, the Irish market leader in mobile modular storage solutions, have announced 2MWh xStorage Containers for industrial power projects. This solution has a storage capacity of 2MWh and a high-performance battery for power backup. These containers are 6m long and not too hefty. This creation has further broadened the growth opportunity for the pallet racking industry.


Additionally, the shuttle racking showed significant growth. With this arrangement, you can store many goods in a small room. The original storage area can be used up to 30% better by switching the drives on the racks of a radio shuttle system.


Pallet Racking System Racking Type Insights


The pallet racking market data has been bifurcated by surgery into cantilever racking, selective racking, push-back racking, drive-in racking, pallet racking flow racking, and carton flow racking. Over the forecast period, the selective pallet racking segment is anticipated to experience major growth in the pallet racking market revenue. The most popular and extensively used pallet racking system is selective pallets, which are anticipated to experience high demand from various application industries, including retail, food & beverage, automotive, and others. However, the drive-in racking system also witnessed a significant market share. The second-largest market for drive-in warehouse racking systems is anticipated to grow due to the increased need for storage spaces that can hold as many items as possible.


Pallet Racking Frame Load Capacity Insights


Based on frame load capacity, the pallet racking industry has been segmented into up to 5 tons, 5 - 15 tons, and above 15 tons. Throughout the anticipated period, the 5 – 15 ton racks segment dominated the pallet racking market. The medium-sized shelf has a unique shape and a reasonable structure, is simple to assemble and disassemble, allows for free adjustment of the layer height of 50 mm, requires no screws, and has a strong and long-lasting bearing capacity.


Figure 2: Pallet Racking Market, by Frame Load Capacity, 2021& 2030 (USD Million)
Pallet Racking Market, by Frame Load Capacity
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


The second fastest-growing segment in the pallet racking industry is the above 15-ton sector. Above 15-ton pallet racking systems allow you to build bigger corridors and industrial tracks and expand your storage capacity.


Pallet Racking End-Use Industry Insights


The pallet racking market segmentation, based on the end-use industry, includes automotive, food and beverage, retail, manufacturing, and warehouse. The automotive application segment generated major revenue in 2021 and is anticipated to expand rapidly over the next few years. With the growing tendency to manage massive automobiles and related stock-keeping units (SKUs) in the warehouses, this category had the lion's share of the entire pallet-racking market. The food and beverage application segment is anticipated to expand during the projected period. Food and beverage applications frequently use warehouse racking systems for storage and preservation needs.


Pallet Racking Regional Insights


By Region, the study provides market insights into Europe, North America, Asia-Pacific and the Rest of the World. North America pallet racking market accounted for USD 4498.7 million in 2021 and is expected to exhibit a significant CAGR of 42.9 percent growth during the study period. Several variables also drive the pallet racking market in North America. The presence of retail and e-commerce behemoths like Amazon and Walmart substantially influences the demand for warehouse and storage services in the area. Walmart claims that as of 2022, it will use 4,700 stores and 31 specialized e-commerce fulfillment centers to fill online purchases within a 10-mile radius of 90% of Americans.


Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3: PALLET RACKING MARKET SHARE BY REGION 2021 (%)
PALLET RACKING MARKET SHARE BY REGION
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe's pallet-racking market accounts for the second-largest market share. With the rising demand from the retail, automotive, food & beverage, manufacturing, and packaging application segments throughout the projection period, the rapid expansion of pallet racking in the European pallet racking market is anticipated to significantly raise demand. Positive pallet-racking market growth is primarily driven by rising warehouse development and a shift in customer preferences in Germany away from faltering office buildings and shopping complexes and toward online shopping. The take-up rate of warehousing reached 2.1 million square meters as of the second quarter of 2021, which was the second-highest figure noted throughout the period under study. Further, the German pallet racking market held the largest market share, and the UK pallet racking market was the fastest-growing market in the European region.


Asia Pacific pallet racking market is predicted to have significant market growth. It is projected that the tremendous rates of population growth in China and India will boost the retail sector in these countries and raise demand for processed goods, both of which will be favorable for the pallet racking market. India, the nation with the fastest economic growth, is anticipated to make significant investments in the manufacturing and e-commerce industries. The number of online shoppers in India, which was 180–190 million in 2021, will rise to 400–450 million by 2027 when it is predicted that the sector will be worth more than USD 150 billion. Moreover, China's pallet-racking market held the largest market share, and the Indian pallet-racking market was the fastest-growing market in the Asia-Pacific region.


Pallet Racking Key Market Players& Competitive Insights


Since the major market players are spending a lot of money on R&D to broaden their product lines, the pallet racking market will continue to rise. Market participants take various strategic actions to increase their footprint in response to key market developments, including introducing new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other companies. If competitors in the pallet racking industry want to expand and be successful in a cutthroat pallet racking market, they must offer their goods at reasonable pricing.


One of the primary business strategies the pallet racking industry utilizes to satisfy customers and grow the pallet racking market sector is local production to reduce operational costs. The pallet racking industry has recently offered some of the most significant advantages. Pallet-racking major market players, such as Averys (France), Daifuku (Japan), Hannibal Industries (US), Steel King (US), and other top brands, support R&D projects to boost consumer demand.


Kardex is an intralogistics industry partner and a top provider of material handling and automated storage solutions. Kardex Remstar creates, manufactures, and supports dynamic storage and retrieval systems, while Kardex Mlog provides integrated materials handling systems and automated high-bay warehouses. For instance, in April 2022, Kardex developed the world's first auto store system in collaboration with the R5 solution for the German e-commerce company Arbeitsschutz-Express. This one-of-a-kind approach allowed Arbeitsschutz-Express to easily handle increasing customer orders.


Acme Intralog Fzco is a prominent provider of material handling and warehouse automation solutions in the Middle East, creating tailor-made solutions for difficult requirements. They provide factory automation solutions, sortation systems, pallet and tote storage and retrieval, and industrial automation components. For instance, in September 2020, ACME Interlog, a logistics service provider, formed a strategic alliance with Kardex Remstar, a warehouse racking service and solution provider. Through this strategic move, Kardex Remstar provides modern warehouse operation solutions such as a racking system, automation, and sophisticated infrastructure, which increase ACMC Interlog's existing warehouse operation and boost the organization's efficiency.


List of the Key Companies in the pallet racking market include




  • Elite Storage Solutions (US)




  • Ridg-U-Rak (US)




  • Averys (France)




  • AR Racking (Spain)




  • Daifuku (Japan)




  • SSI SCHAEFER (US)




  • Hannibal Industries (US)




  • Mecalux (Spain)




  • KION Group (Germany)




  • Steel King (US)




  • Advance Storage Products (US)




  • Unarco Material Handling (US).




Pallet Racking Industry Developments


September 2022: GXO Logistics Inc., a leading pure-play contract logistics company, has collaborated with Bayer to open a new warehouse facility. GXO will manage warehouse support, including all shipping and receiving activities, for Bayer's Crop Science division at the new 350,000-square-foot facility in Kearney, Nebraska, via its shared-space distribution network GXO Direct.


August 2022: Kardex, a manufacturer of racking solutions, has acquired shares in Rocket Solutions, a startup that develops the most recent standardized innovative autonomous storage and retrieval systems. With these strategic moves, Kardex is entering and growing its portfolio in the storage and movement of light goods materials. This acquisition also assists Kardex in properly implementing IoT.


Pallet Racking Market Segmentation


Pallet Racking System Outlook




  • Conventional




  • Mobile Racking




  • Shuttle Racking and Hybrid/Customized Racking




Pallet Racking Racking System Type Outlook




  • Cantilever Racking




  • Selective Racking




  • Push Back Racking




  • Drive-In Racking




  • Pallet Flow Racking




  • Carton Flow Racking




Pallet Racking Frame Load Capacity Outlook




  • Up to 5 Ton




  • 5 - 15 Ton




  • Above 15 Ton




Pallet Racking End-Use Industry Outlook




  • Automotive




  • Food & Beverage




  • Retail




  • Manufacturing




  • Warehouse




Pallet Racking Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • France




    • UK




    • Italy




    • Russia




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • South Korea




    • Australia & New Zealand




    • Rest of Asia-Pacific






  • Latin America




    • Mexico




    • Brazil




    • Argentina




    • Rest of Latin America






  • Middle East & Africa




    • Turkey




    • GCC Countries




    • South Africa




    • Rest of the Middle East & Africa





Report Scope:

Report Attribute/Metric Details
Market Size 2021 USD 10,486.5 million
Market Size 2022 USD 11,199.5 million
Market Size 2030 USD 17,750.09 million
Compound Annual Growth Rate (CAGR) 6.80% (2022-2030)
Base Year 2021
Market Forecast Period 2022-2030
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered System, Racking System Type, Frame Load Capacity, and End-Use Industry
Geographies Covered Europe, North America, Asia Pacific, and the Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Averys (France), Daifuku (Japan), Hannibal Industries (US), and Steel King (US)
Key Market Opportunities Opportunities in cold chain
Key Market Dynamics Increasing awareness related to the benefits of optimizing warehouse space Rising demand for systematic storage and easy material handling process




Frequently Asked Questions (FAQ) :

The size of the market for pallet racking size was estimated at USD 10,486.5 million in 2021.

The market is projected to grow at a CAGR of 6.8% during the forecast period, 2022-2030.

The largest portion of the market was in North America.

The key players in the market are Averys (France), Daifuku (Japan), Hannibal Industries (US), and Steel King (US).

The shuttle-racking category dominated the market in 2021.

The 5 -15 ton sector had the largest share of the market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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