How Is The General Warehousing And Storage Market Segmented?
The general warehousing and storage market covered in this report is segmented –
1) By Type: Bonded Warehousing, Private Warehousing and Storage, and Warehousing (including foreign trade zones)
2) By Ownership: Private Warehouses, Public Warehouses, Bonded Warehouses
3) By End User: Manufacturing, Consumer Goods, Retail, Food and Beverages, IT Hardware, Healthcare, Chemicals, Other End Users
Subsegments:
1) By Bonded Warehousing: Customs Bonded Warehousing, Duty-Free Warehousing, Public Bonded Warehousing
2) By Private Warehousing And Storage: On-Site Private Warehousing, Off-Site Private Warehousing, Company-Owned Storage Facilities
3) By Warehousing: Public Warehousing, Foreign Trade Zone Warehousing, Distribution Centers
What Is Driving The General Warehousing And Storage Market? Influence Of Industrial Production Drives The General Warehousing And Storage Market
The growth in the general warehousing and storage market is due to the growth in macroeconomic fundamentals such as export-import trade, retail industry, and industrial production index. An increase in the industrial production index is expected to propel the growth of the general warehousing and storage market going forward. Within a year, the industrial production index (IPI) measures levels of production and capacity in the manufacturing, mining, electric, and gas industries. Because of the increase in production in industries warehouses help to store the finished goods. For example, in September 2023, according to the National Bureau of Statistics of China, a China-based government agency, industrial production in China increased 5.10% in July 2024, over the same month in the previous year. Additionally, industrial production in India increased 5.90% in May 2024, over the same month in the previous year. Therefore, an increase in the industrial production index is driving the growth of the general warehousing and storage market.
What Is Driving The General Warehousing And Storage Market? E-Commerce Expansion Fuels General Warehousing And Storage Market Growth
The rise of e-commerce is expected to propel the growth of the general warehousing and storage market going forward. E-commerce, short for electronic commerce, refers to the buying and selling of goods, services, or information over the Internet or other electronic networks. It involves online transactions, such as online retail, digital payment processing, and online marketplace platforms. General warehousing and storage are essential components of the e-commerce ecosystem, facilitating the storage, management, and distribution of products purchased online. E-commerce businesses rely on warehouses to efficiently store and organize their inventory, enabling quick order fulfillment and on-time deliveries to customers. These facilities play a pivotal role in meeting the demands of a rapidly growing online retail market, ensuring that products are readily available for shipping, improving order accuracy, and enhancing the overall customer experience. For instance, in June 2022, according to an article published by Morgan Stanley, a US-based multinational investment bank and financial services company, global e-commerce rose from 15% of total retail sales in 2019 to 21% in 2021 to reach 22% in 2022. The e-commerce market is expected to increase from $3.3 trillion in 2022 to $5.4 trillion in 2026. Therefore, the rise of e-commerce is driving the general warehousing and storage market.
Who Are The Major Players In The Global General Warehousing And Storage Market?
Major companies operating in the general warehousing and storage market include DHL International GmbH, Kuehne + Nagel International AG, Americold Realty Trust Inc., CEVA Logistics AG, Panalpina Welttransport (Holding) AG, Prologis Inc., Lineage Logistics Holdings LLC, CWT Limited, XPO Logistics Inc., GXO Logistics Inc., NFI Industries Inc., Ryder System Inc., DSV Panalpina A/S, SSI Schaefer LLC, Whirlpool Corporation, Saddle Creek Logistics Services LLC, APL Logistics Ltd., Jacobson Companies Inc., Kane Is Able Inc., Leggett & Platt Inc., Radial Inc., GEODIS S.A., Rhenus Group, ID Logistics S.A., Fulfillment Centers Inc., Verst Group Logistics Inc., Symbia Logistics LLC, Atlanta Bonded Warehouse Corporation, The Suddath Companies
What Are The Key Trends Of The Global General Warehousing And Storage Market? Mobilizing Warehousing Efficiency And The Impact Of Mobile Technologies
Mobile technologies have gained popularity among warehouse owners as they help them to perform and track warehouse operations and reduce time consumption and manpower. Mobile technology includes tablets, smartphones, and other handheld devices for communication and information. These devices make use of GPS, RFID, VoIP, digital imaging, and voice technology for equipment status, performance, and tracking warehouse operations. These technologies also provide hands-free operations and faster data entry. For instance, in June 2023, IAM Robotics, a US-based automation technology company, launched an automated solution to help warehouses with order fulfillment called as Lumabot. The Lumabot uses the company’s new Meet Me technology to coordinate humans and robots as a cohesive system, enabling warehousing, logistics, and manufacturing operations to increase productivity, mitigate operational risk, and scale without adding headcount. The Lumabot can also manage the work of all of the warehouse associates and mobile robots making it a useful addition for the growth of the business.
What Are The Key Trends Of The Global General Warehousing And Storage Market? Innovative Solutions In The General Warehousing And Storage Market
Major companies operating in the general warehousing and storage market are launching innovative solutions, such as ultra-high storage density, to sustain their position in the general warehousing and storage market. Ultra-high storage density in general warehousing and storage refers to the capacity to store a significantly large volume of goods or products within a limited physical space, optimizing storage efficiency and logistics operations. For instance, in October 2023, Hai Robotics, a China-based warehouse automation solutions provider, launched the world’s first telescopic Grapple Hook ACR, the HaiPick A42T-E2, and the HaiPick System 3 to address customer concerns around increasing storage density and performance at a smaller warehouse. The HaiPick A42T-E2 contains the ChainPick technology which enables up to five-deep tote storage capacity, allowing shorter picking and placing time to further streamline the goods-to-person workflow. The HaiPick System 3 enables ultra-high storage density of up to 50 totes/? and increases worker efficiency up to six times. These new products will help warehouses achieve a level of performance efficiency and ROI at new heights in both B2B and B2C operations, such as within 3PL and apparel industries.
Regional Outlook For The Global General Warehousing And Storage Market
Asia-Pacific was the largest region in the general warehousing and storage market in 2024. The regions covered in the general warehousing and storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
The countries covered in the general warehousing and storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
What Defines the General Warehousing And Storage Market?
The general warehousing and storage market includes revenues earned by entities by providing businesses with the necessary space to store their products when they aren't needed for a sale. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
How is Market Value Defined and Measured?
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
What is the Market Assessment and Strategic Outlook for the General Warehousing And Storage Industry?
The general warehousing and storage market research report is one of a series of new reports from The Business Research Company that provides general warehousing and storage market statistics, including general warehousing and storage industry global market size, regional shares, competitors with a general warehousing and storage market share, detailed general warehousing and storage market segments, market trends and opportunities, and any further data you may need to thrive in the general warehousing and storage industry. This general warehousing and storage global market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
