Pallet racking refers to the storage systems consisting of upright frames, beams, and pallets used for storing, transporting, and protecting various products and materials in a warehouse or distribution center. They are one of the most common material handling systems utilized globally to maximize the storage space. Pallet racking allows for the high density storage of pallets and easy access to loads through the use of selective racking which improves productivity and efficiency. The growing e-commerce sector coupled with the outsourcing of manufacturing has increased the demand for warehouse spaces and automated storage solutions over the past few years.
Market Dynamics:
The global pallet racking market is driven by factors such as rapid growth of the e-commerce and third-party logistics industries. Rise in the demand for inventory management and automation solutions that optimize storage capacity are expected to further propel the market growth during the forecast period. However, high installation and maintenance costs associated with advanced pallet racking systems are expected to restrain the market growth. Growing popularity of automated guided vehicles and robotic solutions integrated with racking systems presents lucrative opportunities for manufacturers to develop innovative products. Moreover, shift towards industrial automation and industrial internet of things is expected to positively impact the demand.
Key Features of the Study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook