Warehousing and Storage Market: Overview
The warehousing and Storage Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.
In Warehousing and Storage Market, Warehousing and storage are essential parts of logistics operations that require skills and coordination to cater demand and supply of goods as per client requirements.
The warehouse and storage sector needs operating warehousing and storage facilities for general, refrigerated, and other warehouse products.
The global warehousing and storage market is expected to register a significant growth rate over the forecast period owing to factors such as changing lifestyles and consumers’ preference for ready-to-eat food and aesthetically attractive packaging design of the product.
In addition, increasing industrial production, import, and export activities, a rapidly growing e-commerce industry, along with faster and secure delivery, are some of the other factors expected to propel the growth of the global warehousing and storage market during the forecast period.
Technological advancements to handle inventory and respond to customer requirements and queries, gaining momentum across the globe.
The increasing use of artificial intelligence (AI) and radio frequency identification (RFID) tags to track the delivery of items, is another factor projected to support the growth of the global market.
Recent trend shows that warehouse operators focus to construct multi-story warehouses which can create a lucrative opportunity for the growth of the target market over the long run.
For an instance, In November 2018, US-based logistics company – Prologis built the nation’s first multi-story industrial warehouse.
However, increasing warehouse rents and costs for industrial lands and high initial setup costs may hamper the growth of the target market during the forecast period.
Warehousing and Storage Market: Segment Analysis
On the basis of type, the target market is segmented into general, refrigerated, and farm products. The refrigerated segment is expected to register a significant growth rate in the target market over the forecast period.
Increasing demand for frozen and sweetened bakery products from the youth population is anticipated to bolster the growth of the target segment in the global market over the forecasted period.
Warehousing and Storage Market: Region Analysis
The Asia Pacific warehouse and storage market accounts for the highest share in terms of revenue and is projected to maintain its dominance during the forecast period.
Growing end-user industries such as pharmaceutical and consumer goods in countries in the region are expected to bolster demand for warehouse and storage services and drive the growth of the target market.
The emergence of multi-channel distribution networks, the increasing number of self-operated warehouses, coupled with the growing use of robotic operations in warehouse and storage units are some of the other factors also anticipated to fuel the growth of the target market in the region.
The market in North America is expected to provide growth opportunities to the target market owing to the rise in manufacturing activities and increasing warehouse leasing in the region.
The market in Middle East & Africa accounts for a moderate share in terms of revenue in the global market and is expected to witness considerable growth over the next 10 years.
Factors such as increasing disposable income and improving economic conditions in various countries in the Middle East & Africa and Latin America are fueling the market growth.
Global Warehousing and Storage Market Segmentation:
Segmentation by Type:
- Farm Products
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- DHL Express
- United Parcel Service
- Kuehne + Nagel International AG
- CEVA Logistics
- XPO Logistics
- DB Schenker
- Burris Logistics
- AmeriCold Logistics LLC
- Global Logistics Properties
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