Global Warehousing and Storage Market to Grow at a CAGR of 4.5% During 2024-2032, Aided by Rising Global Trade Volumes

Warehousing and storage service providers are placing significant focus on optimising batching, handling, and picking processes to enhance delivery times while ensuring quality remains high. Such trends have facilitated the development of new warehouse construction techniques and innovative management methods, aiding the warehousing and storage market expansion.

Additionally, to remain competitive against large multinational corporations, many vendors are adopting cutting-edge technologies, including GPS, RFID, VoIP devices, digital voice communication systems, and computer vision solutions within their warehouse management operations. By upgrading processes and leveraging emerging technologies, companies can differentiate themselves through superior operational execution and customer service in what has become a highly competitive global logistics marketplace.

There are several notable challenges that warehouse and storage service providers must overcome to continue advancing in the market. One significant hurdle is the substantially higher level of investment needed to establish new warehouses and implement more sophisticated technological solutions. Adopting automated systems, temperature controls, inventory tracking tools, and other modern innovations requires considerable financial resources.

In addition, a lack of awareness among small and medium-sized enterprises regarding the benefits of third-party logistics presents a challenge. Educating more SMEs on partnering with experienced warehouse operators to improve efficiency, reduce costs, and boost overall operations is important for driving further market expansion.

The development of innovative technologies aimed at automating warehousing and storage applications is expected to propel the market growth in the coming years. For instance, in January 2024, Robinson Worldwide, Inc. (NASDAQ: CHRW), a global leader in third-party logistics and freight transportation, developed new scheduling technology aimed at significantly improving operational efficiency. The new digital solution is designed to automatically schedule pickup and delivery appointments for loads being transported by C.H. Robinson's network of carriers.

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Market Breakup by Types of Warehouses, Ownership, End Use, and Region:

• On the basis of the types of warehouses, the market is divided into general warehousing and storage, refrigerated warehousing and storage, and farm product warehousing and storage.

• The market can be segmented based on ownership into private warehouses, public warehouses, and bonded warehouses.

• On the basis of the end use, the market is classified into manufacturing, consumer goods, retail, food and beverage, IT hardware, healthcare, and chemicals, among others.

• By region, the market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Warehousing and storage service providers offer storage solutions for other companies' and organisations' assets, including parts, equipment, vehicles, goods, and perishable items. The growing demand for omnichannel capabilities is anticipated to propel the warehousing and storage market growth. While customers continue embracing online purchasing, brick-and-mortar locations still command a sizable portion of the market, notably for high-cost product categories like furniture. This continuing importance of physical stores serves to expand opportunities for the market.

• As supply chains rapidly reconfigure to meet accelerated demand, warehouses are increasingly integrating logistics functions. Logistics services now play a pivotal part in the process of optimising supply chain responsiveness. Additionally, with globalisation continuing its expansion, many industries operating internationally rely on frequent deliveries of finished goods inventories to domestic warehouses for onward distribution through supply networks. This dependency likewise stimulates ongoing requirements for warehouse and storage facilities to transfer products.

• The exponential increase in demand and the need to store new product varieties have substantially impacted warehouse service providers' complexity levels. Warehouse providers seek innovative technologies to help reduce complexity while empowering better facility management. Warehouse management systems, for example, provide end-to-end visibility into a business's entire inventory. These solutions optimise supply chain fulfilment operations from distribution centres to retail shelves.

Key Offerings of the Report:

• The EMR report gives an overview of the global warehousing and storage market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type of warehouses, ownership, end use, and region.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global warehousing and storage market are DHL International GmbH, C.H. Robinson Worldwide, Inc., CEVA Logistics, and DSV Panalpina A/S, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.