Global Warehousing And Storage Services Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) The commodities owned by another company or organization, such as their products, cars, equipment, parts, and perishable goods, can be stored utilizing warehousing and storage services. Distribution and inventory control are typically included. In order to increase product lifespan or stop item degradation, warehouse and storage facilities may be able to adjust the environment, such as temperature and humidity. On short notice, warehousing and storage services can transport products on behalf of a client or make a client's property available for pickup. The global warehouse and storage industry has grown significantly in recent years due to a growth in e-commerce.
Market Dynamics
Rising Interest in Omnichannel Drives the Global Market
The omnichannel supply chain has grown significantly as major online retailers open physical shops. The intelligent consumer now implicitly demands clever retail solutions. Different consumer groups buy and choose products that fit their needs and way of life via various retail outlets. As a result, companies have understood that improving customer alternatives and the purchasing process increases profitability. "Omni-channel retail" will be the buzzword for medium and large firms as they push to increase B2C and B2B e-commerce.
The ability for merchants to fulfill orders from the closest fulfillment center has allowed for the gradual reduction of the impact of inventory holding costs. Shipping costs have decreased, and customer satisfaction has increased, promoting repeat business. Customers feel in charge and independent of the manufacturer because they may contact them anytime and request assistance if necessary.
Electronic Commerce Growth Creates Tremendous Opportunities
Regarding GDP, B2C e-commerce was highest in China, Hong Kong (China), and the United Kingdom and lowest in India, Brazil, and Russia. Through the quick and extensive transfer of technology, globalization has boosted the volume and variety of cross-border transactions in services and goods. This has driven the trends in the global cross-border B2C e-commerce market. Modern e-commerce technologies help reduce administration and marketing costs, making it easier for enterprises to access dispersed markets. In 2020, the COVID-19 pandemic contributed to global growth in e-commerce customers of 9.5% yearly, or more than 3.4 billion people. In 2021, the upward trend was expected to persist. Fashion is the most popular e-commerce market segment, followed by toys, hobbies, electronics, and media.
Regional Analysis
Asia-Pacific is the most significant shareholder in the global warehousing and storage services market size and is anticipated to grow at a CAGR of 9.45% during the forecast period. Asia-Pacific is a large consumer of perishable foods, which increases the need for refrigerated warehousing methods. A significant expansion in food and beverage companies producing a broad range of perishable food goods and frozen foodstuffs is also projected during the shelf lives of these food products. Rhenus Logistics stated in 2019 that it now offers end-to-end logistics solutions to India, Greater China, Hong Kong, the Philippines, Thailand, Singapore, Malaysia, and Vietnam as part of its warehouse solutions expansion into the Asia-Pacific area.
North America is anticipated to grow at a CAGR of 6.50%, generating USD 273.72 million during the forecast period. The demand for outsourcing warehouse services has been increasing due to the manufacturing sector's expansion of operations and output. Additionally, due to the advantages of outsourcing in terms of increased operational effectiveness and cost savings, shippers are increasingly outsourcing the logistics component of their operations to warehouse service providers. The rising demand from key application industries, including automotive, manufacturing, retail, technology, healthcare, and construction, will substantially expand in the coming years.
Europe is anticipated to grow significantly during the forecast period. Due to a decline in demand and the development of new facilities in the EU region, goods that might avoid delivery through the United Kingdom and have warehousing and distribution facilities are expected to close. Since 2001, Maersk has provided professionally designed professional warehousing and distribution services to satisfy the demands of this discerning client to international pharmaceutical players in Central Europe. The warehouse, which will increase Maersk's existing internal storage and distribution facility in Mszczonow (Poland), will feature distinct sections for human and animal health products and be managed by logistics experts.
Key Highlights

The global warehousing and storage services market size was valued at USD 648.35 billion in 2021. It is projected to reach USD 1,264.01 billion by 2030, growing at a CAGR of 7.70% during the forecast period (2022-2030).
Based on the type, the global warehousing and storage services market is general, refrigerated, and farm product warehousing and services. The general segment owns the highest market share and is expected to grow at a CAGR of 7.00% during the forecast period.
Based on ownership, the global warehousing and storage services market comprises private, public, and bonded warehouses. The private warehouse segment is the highest contributor to the market and is expected to grow at a CAGR of 7.10% during the forecast period.
Based on the end-user industry, the global warehousing and storage services market is manufacturing, food and beverage healthcare, consumer goods retail, and others. The manufacturing segment owns the highest market share and is expected to grow at a CAGR of 6.10% during the forecast period.
Asia-Pacific is the most significant shareholder in the global warehousing and storage services market and is anticipated to grow at a CAGR of 9.45% during the forecast period.

Competitive Players
The global warehousing and storage services market's major key players are Deutsche Post DHL Global, XPO Logistics, Ryder System Inc., NFI Industries Inc., Americold Logistics, FedEx Corporation, Lineage Logistics, NF Global Logistics Ltd, APM Terminals, DSV Panalpina AS, Kane Is Able, and MSC Mediterranean Shipping Co. SA.
Market News

In September 2022,
according to the most recent statistics from the Ports of Sweden, APM Terminals Gothenburg continues to expand and gain market share in the struggling Swedish container industry. It is becoming increasingly apparent that Swedish businesses are prioritizing effective, long-term logistics solutions. APM Terminals Gothenburg handled 49% of the Swedish container market in the year's second quarter, the largest share since 2015. The Swedish container market shrank by over 4,000 TEU during the year's first half, continuing a recent pattern, while volumes through APM Terminals Gothenburg rose by 20,000 TEU.
In October 2022,
one of the largest third-party logistics providers, AllCargo Logistics, leased 1.7 million square feet of space at its Malur, Karnataka, logistic park to major online retailers. Companies like Amazon, Flipkart, and Decathlon have taken up residence in the park's first phase.

Global Warehousing and Storage Services Market: Segmentation
By Type

General Warehousing and Storage
Refrigerated Warehousing and Storage
Farm Product Warehousing and Storage

By Ownership

Private Warehouses
Public Warehouses
Bonded Warehouses

By End-User Industry

Manufacturing
Consumer Goods
Food and Beverage
Retail
Healthcare
Other End-User Industries

By Regions

North America
Europe
Asia-Pacific
LAMEA

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