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The global warehouse racking market is estimated to expand at a CAGR of 3.7% over the forecast period, reaching US$ 10.3 Bn by 2032.
As per FMI, sales in the U.S. warehouse racking market are projected to increase at a 2.2% CAGR over the forecast period.
The country’s economy relies heavily on the food and beverage industry. The sector employs approximately 1.5 million people and has nearly 27,000 businesses, according to the US Committee for Economic Development.
As a result, expansion of the food & beverage sector, along with increasing export and retail of organic food products will drive sales in the U.S. market over the forecast period.
Furthermore, the need for flexible material storing and stacking architectures with new safety features and resource efficiency is a vital factor spurring demand for warehouse racking systems. In addition to this, expansion of the e-Commerce sector is also fueling the growth in the market.
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Different solutions are being presented as technology advances to make operations easier. With cutting-edge approaches and effective solutions, smart storage ideas are gaining traction. With the correct kind of training in automated solutions, a warehouse management system may be considerably more effective, empowering employees to be more productive even when working at a high intensity.
Upgrading, modifying, or relocating storage systems in accordance with changing business needs is another significant consideration. This is compelling manufacturers to employ racking systems, such as drive-in pallet racks and structural selective pallet racks, thereby augmenting the growth in the market.
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Daifuku, SsiSchaefer, Interroll, Dematic, Vanderlande, AK Material Handling Systems, Beumer, Constructor, Dmw&H, Godrej Storage Solutions, Warehouse Rack & Shelf LLC., and Steel King Industries, Inc. among others are some players operating in the
Leading players operating in the warehouse racking market are employing smart promotional strategies, advertisements, and new product launches to gain a competitive edge in the market.
More Insights into the Warehouse Racking Market Report
Future Market Insights, in its new offering, provides an unbiased analysis of the global warehouse racking market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the warehouse racking market based on the product type (roll formed selective pallet rack, structural selective pallet rack, push back pallet rack, drive in pallet rack) application (automotive, food & beverage, retail, packaging, manufacturing) across seven major regions.
Global Warehouse Racking Market by Category
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About Future Market Insights (FMI) Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Warehouse Racking Market valuation will reach US$ 10.3 Bn in 2032 | Expansion of the Food & Beverage Sector Boost the U.S. Warehouse Racking appeared first on Future Market Insights.
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