Europe Rack Market – Industry Trends and Forecast to 2030

Europe Rack Market Analysis and Size

The Europe rack market is expected to witness significant growth during the forecast period due to long lifespan of the metal rack framework. The “structural steel” is expected to be the fastest growing material segment because it’s a recyclable and can be easily reused, which boosts its demand in the Europe rack market forecast period. Furthermore, the growing awareness regarding benefits of easy material handling processes and systematic storage is likely to further enhance the market growth over the forecast period.

Data Bridge Market Research analyses that the rack market is expected to reach USD 77,494.84 million by 2030, which is USD 42,493.52 million in 2022, registering a CAGR of 7.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.  

Europe Rack Market Scope and Segmentation

Market Definition

Rack is an important part of the material storage and handling industry. Rack systems offer efficient storage, safety and proper product distribution because it can be customized. They can be used for long-term and short-term placement of products, materials, and loads in a facility. Storage racks hold products organized, offering easy access to products in the warehouse and improving the working proficiency of distribution channels.

Europe Rack Market Dynamics

Drivers

• Rising usage of rack for commercial purposes

Storage racks are very helpful and can be used for domestic purposes. Nowadays, the storage in a home needs an attractive and efficient storage rack that easily solves the problem of storage, while also adding beauty and charm to the home. A storage rack can be designed and manufactured in an extensive range of materials, from wooden craftsmanship to modern technological chrome sculptures. Most of the storage racks are available as shelving units that look quite stylish and modern.

• Increasing demand of rack in automotive sector

An automobile stands fixed over the automobile's roof to increase the luggage capacity is referred to as an automotive. It is made composed of a many rails, mount and pillars for supporting the frame of rack and dispersing the overall weight of luggage to protect the roof. Steel, composite plastic, aluminum alloy and other lightweight materials are normally used to make racks. To provide much room as possible and increase their comfort while luggage, traveling or other products are placed on racks. Traditionally, they were permanently installed on the vehicle's roofs. The growing automotive sector is one of the major factor which is contributing to the market's growth.

Opportunities

• Increasing demand of storage racks for industrial purposes

Storage racks used in industries need to be designed properly for heavy-duty use and should cover an extensive array of ranges, including tyre or bin racking and other pallet racking. The racks used in industries are stackable, transportable, expandable, and also space efficient to meet the needs. It is convenient and suitable for all locations and has interchangeable components that can get switched according to the need of the work. These days, modular racks are developed for the ease of the industry people. Thus, racks are widely used in industries for its immense advantages and thus it is increasing the market growth.

• Increasing development and advancements of racks

The global market players in rack market are highly focusing on the automation of the process. The market players involved in manufacturing of rack provide semi-automated, conventional, and automated racking systems to offer technological advancement and automation in their product portfolio. The product benefits include simple assembly, robust construction, use of fewer components, and easy management process, which are expected to further create lucrative opportunities for market growth.

Restraints/ Challenges

• High cost associated with rack

High cost of repairing and installing of racks is expected to hamper the growth of the market during the forecast period. Furthermore, fluctuation in the price of raw material used for racks such as structural steel and roll formed steel can act as a major challenge for the growth of the rack market.

This rack market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growth application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the rack market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2020, Swisslog Holding AG started its partnership with H-E-B, a leading Texas-based retail chain, to deploy the automated micro-fulfillment centers. These automated micro-fulfillment centers support the chain’s curbside pick-up and delivery business. With this development, company can increase its market share worldwide.

Europe Rack Market Scope

The rack market is segmented on the basis product, material type, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Pallet Flow Racks
• Selective Racks
• Drive-In Racks
• Automated Storage and Retrieval Systems
• Carton Flow Racks
• Mobile Sliding Racks
• Cantilever Racking Systems
• Others

Material Type

• Structural Steel
• Roll Formed Steel
• Hybrid

Distribution Channel

• Offline
• Online

End-User

• Food and Beverages
• E-Commerce
• Retail
• Automotive
• Healthcare
• Chemicals
• Aviation
• Others

Rack Market Regional Analysis/Insights

The rack market is analyzed and market size insights and trends are provided by country, product, material type, distribution channel and end-user as referenced above.

The countries covered in the rack market report are Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe.

Germany dominates the Europe rack market in terms of market share and revenue owing to the growth in the e-commerce industry in this region. Furthermore, change in consumer purchasing behavior and growth in packaged food demand will further boost the market growth in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Rack Market Share Analysis

The rack market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to rack market.

Some of the major players operating in the rack market are:

• stow-group (Belgium)
• Swisslog Holding AG (Switzerland)
• Esnova Racks S.A. (Spain)
• Palian (South Africa)
• Kardex (Switzerland)
• APC Industrial (Australia)
• Daifuku Co., Ltd (Japan)
• Mecalux S.A (Spain)
• Kardex (Switzerland)
• Velca Systems (India)
• Honeywell International Inc, (U.S.)
• Dematic (U.S.)
• ARPAC (Thailand)
• Bulldog Rack Company (U.S.)
• Gonvarri Material Handling (Norway)
• OHRA Regalanlagen GmbH (Germany)
• AR Racking. (Spain)

SKU-65991