General Warehousing And Storage Market Emerging Trends and Growth Drivers Through 2029 | Reach $456.64 Billion
This report provides practical insights for business leaders looking to understand market growth, size, and key trends in the general warehousing and storage industry.
How Large Will The General Warehousing And Storage Market Be By 2025?
The general warehousing and storage market size has grown strongly in recent years. It will grow from $322.35 billion in 2024 to $344.62 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to industrialization and urbanization, expansion of global trade, e-commerce and supply chain evolution, regulatory compliance and safety standards, economic growth and consumerism.
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What Are Key Factors Driving The Demand In The Global 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.
Comparative Analysis Of Leading General Warehousing And Storage Market Segments
The general warehousing and storagemarket 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 Are The Key Trends Shaping The General Warehousing And Storage Industry?
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.
Who Are The Prominent Players In The General Warehousing And Storage Business?
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
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Which Region Is Expected To Lead The General Warehousing And Storage Market By 2025?
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.
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