In a recent published report, Kenneth Research has updated the market report for Warehouse Robotics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Warehouse Robotics Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
The Warehouse Robotics Market is expected to grow with a significant CAGR during the forecast period, i.e. 2021-2026, on the back of growing internet penetration around the world along with the rising adoption of smartphone. The statistics by the GSMA Intelligence stated that the total unique mobile subscribers as on May 2020 around the world was 5.24 billion.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Warehouse racking is a system that is designed for storage of materials in warehouse. Basically, racking is a steel structure that includes beams, metal frames, and connectors. Methods such as welding, clipping, and bolting are used to assemble and construct warehouse racking systems. These racking systems are available in different width and sizes to support the material or object placed on it for storage purpose. Generally, these racking systems are used for high-density storage and bulk warehouse. Racking systems serve warehouses of retail centers, manufacturing facilities, and distribution centers.
The organization of goods or materials became easy in storage facility of respective companies, owing to the warehouse pallet system. The multiple levels of racking offer extra space for storage. In other words, the warehouse racking allows the companies to utilize its vertical space instead of floor space. Such factors are anticipated to provide numerous profitable opportunities for the industry players. However, budget constraints of smaller firms are expected to hamper the growth of the warehouse racking industry. New innovations can provide numerous future opportunities for the industry growth. For instance, voestalpine Krems Finaltechnik GmbH introduced a new concept of warehouse racking systems called mobile pallet rack solution, which is different from traditional warehousing systems. These racking systems offer extensive storage capacity within a limited space suitable for goods with a low fluctuation rate.
The global warehouse racking industry is segmented on the basis of type, application, and geography. Based on type, the industry is classified into selective pallet rack, double deep, back racking, pallet flow rack, drive-in/drive-thru rack, and others. Based on application, the industry is divided into automotive, food and beverage, retail, and others. Based on region, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
The key players operating in the global warehouse racking industry include Constructor Group AS, Daifuku, AK Material Handling Systems, Dematic, DMW&H, EUMER Group, Fives Group,Vanderlande, Interroll Group, and SSI Schaefer.
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Warehouse Racking Industry Segmentation:
By Product Type
Selective Pallet Rack
Double Deep
Back Racking
Pallet Flow Rack
Drive-In/Drive-Thru Rack
Others
By End User Industry
Automotive
Food & Beverage
Retail
Manufacturing
Warehouse & Logistics
Others
Warehouse Racking Industry Overview, by Region
North America
USA
Canada
Europe
Germany
U.K.
France
Italy
Rest of Europe
APAC
China
India
Japan
Rest of Asia-Pacific
RoW
Latin America
Middle East & Africa
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