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The Warehousing Market was at USD 1055 Bn in 2021 and is growing to approximately USD 3043 Bn by 2030, with a CAGR growth of 14% between 2022 and 2030.
SANDY, UTAH, UNITED STATES, August 25, 2022 /EINPresswire.com / -- The Global Warehousing Market was valued at USD 1055 billion and is projected to account for around USD 3043billion by 2030. The estimated CAGR is approximately 14% between 2022 and 2030. The report further provides an overview of drivers, restraints, and opportunities present in the Warehousing market . Moreover, the report examines the global competitive analysis of the Warehousing market.
Warehousing Market: Overview
The integration of logistics and Warehousing is essential for bridging the gap between consumers and producers. The product delivery speed is greatly influenced by the logistical chain's degree of simplicity and effectiveness. Effective Warehousing is essential for businesses to keep their inventory and supply the items whenever demand increases. With the surge in the e-commerce sector, the need for warehouses is proportionally increasing. In addition to providing space for product storage, warehouses are crucial for providing space for packaging, docking, and drawing out products to speed up delivery.
Key Insights:
A) As per the analysis shared by our research analyst, the Warehousing market is estimated to grow annually at a CAGR of around 14% over the forecast period (2022-2030).
B) In terms of revenue, the Warehousing market size was valued at around USD 1055 billion in 2021 and is projected to reach USD 3043 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on type segmentation, the general Warehousing segment was predicted to hold the maximum market share in the year 2021.
D) Based on industry segmentation, the retail segment was the leading revenue-generating category in 2021.
E) On the basis of geography/region, the Asia Pacific region was the leading revenue generator in 2021.
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Warehousing Market: Growth Drivers
Third-party logistics (3PL) demand for warehouse space has increased as a result of the global e-commerce boom, and it will develop more quickly in rising economies such as India and China.
The demand for warehouses is anticipated to increase in the coming years due to the expansion of retail chains and their rapid growth. For instance, according to a recent analysis commissioned by the UK Warehousing Association (UKWA), the pandemic-fueled e-commerce boom has resulted in a 614% rise in warehouse utilization by online retailers. Thus, the growth in e-commerce is anticipated to bolster the demand for Warehousing across the globe.
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List of Key Players
APL
DHL
United Postal Service
Ryder Supply Chain Solutions
Geodis
Nippon Express
Genco
Mitsubishi Logistics
XPO Logistics
Kuehne+Nagel International AG
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Recent Development
A) July 2022:A US-based company named Panattoni has expanded into India and will spend $200 million to build four industrial and logistics parks in an effort to meet the rising demand for storage space in major cities.
B) July 2022: TikTok unveiled its e-commerce business Warehousing plan“Aquaman” in the UK market in the coming years. The company will stock certain products with a constant sales record in local UK warehouses to reduce the time required for cross-border logistics.
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Regional Landscape
In 2021, the Asia Pacific region dominated the Warehousing market. The Asia-Pacific region's logistics sector is dynamic, with both well-known international brands and potent local competitors. Due to the region's rapid e-commerce growth, portions of Asia-Pacific face intense competition to hold onto existing markets and open up new ones.
In 2021, the full-year new logistics supply for Asia-Pacific was projected to increase by 58% over the preceding three years, to 167 million square feet. With more merger and acquisition activity, the logistics and Warehousing industry is undergoing substantial changes. In China, India, and Australia, it is necessary to be closer to dense metropolitan hubs to serve important catchments, raising the cost of small, centrally situated facilities.
The global Warehousing market is segmented as follows:
By Type
General Warehousing
Specialized Warehousing
Refrigerated Warehousing
Others
By Industry
Retail
Food & Beverages
Chemicals
Others
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By Geography
North America
The U.S.
Canada
Mexico
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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