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The warehousing and storage market size is estimated to grow at a CAGR of 6.62% between 2023 and 2028. The market size is forecast to increase by USD 476.06 billion. The growth of the market depends on several factors, such as the growing demand for refrigerated warehousing, the rising e-commerce industry, the automation at warehouses, and increasing efficiency and accuracy.
This warehousing and storage market report extensively covers market segmentation 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). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The automation at warehouses which increases efficiency and accuracy is the key factor driving market growth. Different processes in warehouses can be automated. Companies such as Dematic offer automated systems to facilitate operations in warehouses, such as sorting systems, order picking systems, conveyor systems, and storage and retrieval systems.
Furthermore, automation of warehouses optimizes space use, reduces operational costs, and enhances productivity. Therefore, many warehouse operators are automating their facilities. Hence, these factors will drive the growth of the global warehousing and storage market during the forecast period.
Improved traceability and transparency due to the increasing adoption of blockchain technology is the primary trend shaping market growth. A blockchain is a consecutive series of information that provides a transparent record of transactions. Multiple users can access or add data to the chain; however, users are unable to delete or change the information that is already present. The use of a blockchain removes the need for a central authority to maintain records, which makes processes in a supply chain efficient and cost-effective.
Moreover, the advantages of blockchain technology in the logistics industry include increased security, reduced fraud, automated data flow, improved traceability and traceability, reduced paperwork, and increased transparency. Thus, the use of blockchain and such benefits is expected to drive the growth of the global warehousing and storage market during the forecast period.
An increase in rental prices for warehouse and storage space is a challenge that affects market growth. The exhilaration for warehouse and storage space, owing to the rising demand for e-commerce, is pushing up the rental prices for storage units. As the growth of the e-commerce industry will further increase the demand for short-term leasing, the rental prices for warehouse and storage spaces will slowly increase. Furthermore, the availability of land for industrial warehouses has been declining in developing countries like China.
In addition, policies are also not favorable to those looking to acquire industrial land for building warehousing and storage facilities. Furthermore, the resultant rise in rental prices will have a considerably negative impact on the returns generated from operating warehousing and storage units for market vendors. This may impede the growth of the global warehousing and storage market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The manufacturing segment is estimated to witness significant growth during the forecast period. A warehouse provides a straightforward storage solution. Manufacturing companies need to manufacture items and materials, and large equipment is frequently required. Warehousing allows convenient delivery and high distribution for manufacturing companies, resulting in higher labor efficiency and customer satisfaction. Furthermore, manufactured goods can be stored safely during and before transit without being stolen and lost.
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The manufacturing segment was the largest segment and was valued at USD 361.30 billion in 2018. With huge machines, staff, and items manufactured, industrial warehouses provide the necessary space and infrastructure for manufacturing equipment and processes. The manufacturing sector, particularly in developing economies such as India, is witnessing rapid growth, which will increase the demand for warehousing and storage and, in turn, will boost the growth of the market through the manufacturing segment during the forecast period.
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APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In APAC, the demand for warehouses is growing in countries such as India and Japan. The rising e-commerce market in the region will boost the demand for multi-story warehouses. In addition, the regional warehousing and storage market is expected to grow in countries such as Australia, New Zealand, Japan, Hong Kong, and Singapore due to the increase in the demand for self-storage facilities.
Furthermore, the growth of the pharmaceutical market in APAC is expected to increase the demand for warehousing. The US exports of pharma products to China rose by more than 200% in 2016 over the 2010 value. India is one of the largest generic drug suppliers across the globe. The growing manufacturing and export of medicine and drugs from APAC will increase the need for warehousing. Hence, such factors are expected to drive market growth in this region during the forecast period.
In 2020, the outbreak of COVID-19 negatively affected the warehousing and storage market in APAC. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. The warehousing and storage from end-users such as automotive and electronics companies are anticipated to enhance slowly; hence, the warehousing and storage market in APAC is expected to grow during the forecast period.
The warehousing and storage market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
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Warehousing And Storage Market Scope |
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Report Coverage |
Details |
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Page number |
187 |
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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 2023-2024(%) |
6.34 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 50% |
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Key countries |
US, China, India, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
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. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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