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NEW YORK, July 4, 2024 /PRNewswire/ -- The global storage and warehousing leasing market size is estimated to grow by USD 107.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.8% during the forecast period. Increase in global demand for warehousing and storage services is driving market growth, with a trend towards increased use of technology for the modernization of warehouses. However, increasing warehouse rent driving buyers to invest in storage and warehouse facilities poses a challenge. Key market players include Adwise Realty LLP, Agility Public Warehousing Co. K.S.C.P, American Warehouses, Avison Young, CBRE Group Inc., Central Storage and Warehouse Co., Colliers International Property Consultants Inc., CubeSmart LP, Foster Van Lines, Lee and Associates Licensing and Administration Co. LP, Prologis Inc., Public Storage, Radius Commercial Real Estate, Royal Commercial Real Estate LLC, Safestore Holdings plc, Saltbox, TransWestern Commercial Services LLC, W. T. Young LLC, Ward North American, and Warehouses Plus.
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Technavio has announced its latest market research report titled Global storage and warehousing leasing market 2024-2028
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| Storage And Warehousing Leasing Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 7.8% |
| Market growth 2024-2028 |
USD 107.2 billion |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
7.23 |
| Regional analysis |
North America, APAC, Europe, South America,
and Middle East and Africa |
| Performing market contribution |
North America at 38% |
| Key countries |
US, China, India, Japan, and UK |
| Key companies profiled |
Adwise Realty LLP, Agility Public Warehousing Co.
K.S.C.P, American Warehouses, Avison Young,
CBRE Group Inc., Central Storage and Warehouse
Co., Colliers International Property Consultants
Inc., CubeSmart LP, Foster Van Lines, Lee and
Associates Licensing and Administration Co. LP,
Prologis Inc., Public Storage, Radius Commercial
Real Estate, Royal Commercial Real Estate LLC,
Safestore Holdings plc, Saltbox, TransWestern
Commercial Services LLC, W. T. Young LLC,
Ward North American, and Warehouses Plus |
Market Driver
The storage and warehousing leasing market is experiencing significant growth due to the integration of technology and modernization of facilities. Vendors provide tools for automating business processes, identifying sustainability drivers, and utilizing IoT solutions with sensors and robotic systems. Automated storage and retrieval systems, RFID tags, conveyor belts, and warehouse management systems make warehousing operations more efficient, reducing space usage by up to 40% and resulting in cost savings. Modern construction methods, such as precast concrete and insulated steel panels, also contribute to market growth by reducing carbon emissions and energy costs. These advancements in technology and construction will continue to drive demand for modernized storage and warehousing facilities during the forecast period.
Businesses and individuals increasingly require physical spaces to store their goods, driving growth in the storage and warehousing leasing market. Climate-controlled storage is popular for sensitive items like food products and essential household goods. Lease durations vary, with manufacturing companies often signing longer terms. The e-commerce boom, driven by online retail and the omnichannel model, is a significant trend, leading to increased demand for warehouse space. Rental vacancy rates are low due to high business sentiment and industrial production index. Automation through robotics and sustainable warehousing are key trends, along with inventory management systems using big data analytics. Multi-story warehouses and refrigerated rooms for perishable products are common. SMEs and logistics services also utilize this market, with GPS, RFID, VoIP devices, and imaging technology enhancing warehouse management. Globalization and online buying trends continue to influence the market.
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Market
Challenges
The location of storage and warehousing facilities is a critical business decision, considering factors such as land area, connectivity, and real estate prices. Rising warehouse rents pose a challenge for operators in the market, prompting some to construct new facilities or form strategic alliances to enhance operational efficiency. In the US, the expansion of industries like e-commerce and the decrease in corporate tax from 35% to 21% in 2017 will boost manufacturing, increasing demand for storage and warehousing facilities. This, in turn, lowers vacancy rates and raises rents. Simultaneously, escalating land and warehouse prices compel end-users to invest in their own facilities, restricting the market's growth during the forecast period.
The storage and warehousing leasing market is experiencing significant growth due to various factors. The e-commerce boom and online retail trend have led to an increase in demand for warehousing solutions, particularly for multi-story warehouses and refrigerated facilities for perishable products like food, beverages, and healthcare items. Big data analytics is essential for effective inventory management, and technologies like GPS, RFID, VoIP devices, and imaging technology are transforming warehouse operations. SMEs and manufacturers require efficient logistics services for their products, leading to the globalization trend of private warehouses. The omnichannel model and online buying trend have made it necessary for businesses to adopt an omnichannel distribution strategy. Inventory management systems and warehouse management systems are crucial for managing stock levels and optimizing warehouse space. The demand for general warehousing is high for manufactured products, furniture, and essential household goods. Temperature-controlled rooms, such as cold storage rooms, are essential for storing perishable goods like insulins, antibiotic liquids, injections, and eye drops. The challenges of managing inventory and warehouse operations are significant, but advancements in technology are helping businesses meet these demands.
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Segment Overview
This storage and warehousing leasing market report extensively covers market segmentation by
Type
1.1 Non-climate controlled
1.2 Climate controlled
End-user
2.1 Manufacturing
2.2 Retail
2.3 Consumer goods
2.4 Food and beverages
2.5 Others
Geography
3.1 North America
3.2 APAC
3.3 Europe
3.4 South America
3.5 Middle East and Africa
1.1 Non-climate controlled-
The non-climate-controlled segment of the storage and warehousing leasing market caters to facilities without temperature-control features, including self-storage units and outdoor warehouses. This market segment's growth is driven by the expanding e-commerce industry, as increased Internet penetration in countries like China allows more consumers to access online shopping platforms. Additionally, the chemical industry's demand for customized non-temperature-controlled green warehouses fuels market growth. However, the shift towards climate-controlled storage and warehouses may hinder the segment's expansion during the forecast period. The automotive industry's need for non-climate-controlled warehouses to store finished vehicles, spare parts, and tires for original equipment manufacturers (OEMs) also contributes to the market's growth. The global automotive industry's expansion further drives the demand for non-climate-controlled warehouses in the storage and warehousing leasing market.
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Research Analysis
The Storage and Warehousing Leasing Market has experienced significant growth in recent years due to the increasing demand for physical spaces to store goods from businesses and individuals. Climate-controlled storage solutions have become increasingly popular to protect sensitive items. Lease durations vary, with short-term options available for seasonal storage or longer-term contracts for manufacturing and e-commerce businesses. Manufacturing industries require large warehouses for raw materials and finished products, while e-commerce businesses rely on warehouses for order fulfillment. Rental vacancy rates remain low due to high demand, and homeownership rates continue to decline, driving the need for external storage solutions. Business sentiment and the industrial production index are essential indicators of market trends. Automation and manufactured products have transformed the industry, with logistics services playing a crucial role in efficient storage and distribution. The omnichannel model and online buying trend have accelerated the need for flexible and efficient storage solutions. Furniture and other bulky items are common goods stored in warehouses, and globalization trends continue to drive the demand for international logistics and storage solutions.
Market Research Overview
The Storage and Warehousing leasing market is a vital component of the logistics industry, providing businesses and individuals with physical spaces to store their goods. Climate-controlled storage solutions cater to various industries, including manufacturing, e-commerce, and healthcare, where temperature sensitivity is crucial. Lease durations vary, offering flexibility for businesses with changing inventory needs. The e-commerce boom and online retail trend have significantly increased demand for warehousing, leading to a decrease in rental vacancy rates. Sustainable warehousing, automation, and robotics are key trends, with companies investing in energy-efficient solutions and advanced technology for inventory management. The manufacturing sector continues to rely on warehousing for raw materials and finished products, while SMEs and food and beverage industries require specialized solutions like refrigerated warehouses for perishable goods. The omnichannel model and online buying trend have led to an increase in demand for logistics services, making warehousing an essential part of the globalization trend. Warehouse Management Systems (WMS) have become indispensable, utilizing GPS, RFID, VoIP devices, digital voice, and imaging technology for efficient inventory management. Multi-story warehouses and the use of big data analytics have further optimized operations, reducing costs and increasing productivity. In the healthcare sector, temperature-controlled rooms cater to essential household goods like insulins, antibiotic liquids, injections, and eye drops, ensuring their effectiveness and safety. The future of warehousing lies in advanced technology, sustainability, and flexibility to meet the evolving needs of businesses and individuals.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Non-climate Controlled
Climate Controlled
End-user
Manufacturing
Retail
Consumer Goods
Food And Beverages
Others
Geography
North America
APAC
Europe
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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