(MENAFN- GlobeNewsWire - Nasdaq) Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "Indian Warehouse market Report by Sector, Ownership, Type of commodities Stored 2024-2032" report has been added to ResearchAndMarkets's offering.
The Indian warehouse market size reached INR 1,378.7 Billion in 2023. Looking forward, the market is projected to reach INR 3,107.5 Billion by 2032, exhibiting a growth rate (CAGR) of 9.45% during 2023-2032. The rising number of government initiatives to expand the contribution of India in global trade, rapid expansion of the e-commerce industry, and the growing demand in the automotive industry due to the increasing purchase of personal cars and electronic vehicles (EVs) represent some of the key factors driving the market.
A warehouse refers to a commercial space or building wherein raw materials or manufactured products are stored until they are distributed to shops for selling or exporting to other countries. It comprises security guards and managers to protect the goods from loss, theft, and damage caused due to unfavorable weather conditions, dust, dirt, and moisture.
It also consists of a wide variety of equipment, such as forklifts, conveyors, overhead chain conveyors, pallet lifts, bridge cranes, dock bumpers, yard ramps, and automated guided vehicles (AGVs), to carry goods from one place to another seamlessly. A warehouse can make specific arrangements for various types of commodities or items catering to their nature.
It is majorly located in industrial areas, outskirts of cities or secluded rural areas. It stores goods required for seasonal demands, promotional campaigns, and speculative purchases. Apart from this, as a warehouse helps in minimizing losses significantly that are caused by spoilage or wastage, it is extensively used by manufacturers, importers, exporters, and wholesalers across India.
Indian Warehouse Market Trends
At present, the increasing demand for warehouses in logistics to uplift the value of goods by keeping them fresh and available at the right time represents one of the primary factors influencing the market positively in India. Besides this, the Government of India is undertaking initiatives to expand the contribution of India in global trade and launching the Export-oriented Units (EOU) scheme to boost exporting activities and reduce the trade deficit. In addition, the rapid expansion of the e-commerce industry due to the increasing online shopping activities of individuals is propelling the growth of the market in India.
Apart from this, the growing utilization of warehouses for spontaneously packaging, docking, and drawing out products to reduce delivery time is offering a favorable market outlook. Additionally, the rising demand for warehouses in the automotive industry due to the increasing purchase of personal cars and electronic vehicles (EVs) is supporting the market growth in the country. Moreover, key market players are incorporating various value-added services, along with conventional warehousing to optimize supply chain management, generate higher value, and deliver goods efficiently to customers.
Key Questions Answered in This Report
What was the size of the Indian warehouse market in 2023? What is the expected growth rate of the Indian warehouse market during 2024-2032? What are the key factors driving the Indian warehouse market? What has been the impact of COVID-19 on the Indian warehouse market? What is the breakup of the Indian warehouse market based on the sector? What is the breakup of the Indian warehouse market based on the ownership? What is the breakup of the Indian warehouse market based on the type of commodities stored?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 119 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (INR) in 2023 | INR1.37 Trillion |
| Forecasted Market Value (INR) by 2032 | INR3.1 Trillion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | India |
Key Market Segmentation
Sector Insights:
Industrial Warehouses Agricultural Warehouses
Ownership Insights:
Private Warehouses Public Warehouses Bonded Warehouses
Type of Commodities Stored Insights:
General Warehouses Speciality Warehouses Refrigerated Warehouses
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