NEW YORK, Dec. 11, 2023 /PRNewswire/ — The warehousing and storage market size is expected to grow by USD 476.06 billion from 2023 to 2028. However, the growth momentum of the market will progress at a CAGR of 6.62% during the forecast period. The market is segmented by Application (Manufacturing, Consumer goods, Retail, Healthcare, and Others), Product (General, Refrigerated, and Farm products), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
The automation at warehouses, which increases efficiency and accuracy, is notably driving market growth. Warehouses can automate various processes with the help of companies like Dematic, which provides automated systems for sorting, order picking, conveyance, and storage and retrieval. Automation of warehouses leads to optimal space utilization, lowered operational costs, and increased productivity.
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Key Highlights:
- The report recognizes the following as some of the key players in the warehousing and storage market: Agility Public Warehousing Co. K.S.C.P, AP Moller Maersk AS, Aramex International LLC, C H Robinson Worldwide Inc., CJ CheilJedang Corp., CMA CGM SA Group, Deutsche Bahn AG, Deutsche Post AG, DSV AS, FedEx Corp., Gati Ltd., Kerry Logistics Network Ltd., Kuehne Nagel Management AG, NFI Industries Inc., Nippon Express Holdings Inc., Omni Logistics LLC, Singapore Post Ltd., SNCF Group, United Parcel Service Inc., and XPO Inc.
- Warehousing and Storage Market is fragmented in nature.
- Market to observe 6.34% YOY growth in 2024.
Market Dynamics:
Trend & Challenges
Improved traceability and transparency due to the increasing adoption of blockchain technology is an emerging trend influencing market growth. A blockchain is a digital ledger that records transactions in a transparent and tamper-proof manner. Multiple users have access to the chain, but once data is added, it cannot be changed or deleted.
An increase in rental prices for warehouse and storage space is a challenge that restricts market growth. The surge in demand for warehouse and storage space, driven by the growth of e-commerce, is causing an increase in rental prices for storage units. With the e-commerce industry projected to continue experiencing growth, the demand for short-term leasing of warehouse and storage spaces will only continue to rise, leading to a gradual increase in rental prices.
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Keg Segments:
- The manufacturing segment is estimated to witness significant growth during the forecast period. A warehouse provides a simple storage solution for manufacturing companies that need to store items, materials, and large equipment. It enables convenient delivery and high distribution, leading to improved labour efficiency and customer satisfaction. Additionally, manufactured goods can be stored safely before and during transit without the risk of theft or loss.
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Related Reports:
The smart warehousing market size is estimated to grow at a CAGR of 11.37% between 2022 and 2027. The market size is forecast to increase by USD 10,969.55 million.
The warehousing and distribution logistics market is estimated to grow at a CAGR of 6.2% between 2022 and 2027. The size of the market is forecast to increase by USD 72.96 billion.
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Warehousing And Storage Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.62% |
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Market Growth 2024-2028 |
USD 476.06 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
6.34 |
ToC:
Excustive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Product
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
