Global Industrial Carousel Market 2018-2022
About Industrial Carousel
A carousel is an automated storage and retrieval machine used in different industries for storing, progressive assembling, and other continuous warehouse operations. A carousel can be of two types, vertical and horizontal. The use of carousels depends on the order picking speed and array length requirements of a particular end-user industry.
Technavio’s analysts forecast the global industrial carousel market to grow at a CAGR of 6.54% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial carousel market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Carousel Market 2018-2022
Technavio recognizes the following companies as the key players in the global industrial carousel market: Bastian Solutions, Daifuku Wynright (subsidiary of Daifuku Group), Kardex Remstar (subsidiary of Kardex Group), SencorpWhite, and SSI SCHAEFER.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is innovation in carousel market. With the growing consumer requirements such as the need for convenient and cost-effective warehousing facilities, there is a rising need for innovations in the industrial carousel market. To reduce costs associated with carousel operation, companies have already introduced horizontal carousels with voice recognition systems.”
According to the report, one driver in the market is growing global pharmaceutical market. The global pharmaceutical market grew by 9.5% during 2005-2015, and the growth phase of the market is expected to continue for the next few years.
Further, the report states that one challenge in the market is fluctuating raw material price. Steel is one of the major raw materials in the manufacturing of carousels. As steel is extracted from iron ore, the volatility in iron ore prices will directly reflect on the steel prices.