General Warehousing and Storage Global Market Report 2024

The general warehousing and storage market size has grown strongly in recent years. It will grow from $359.68 billion in 2023 to $387.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed in the historical period can be credited to several key factors. Industrialization and urbanization played significant roles, along with the expansion of global trade, the evolution of e-commerce and supply chains, adherence to regulatory compliance and safety standards, as well as the surge in economic growth and consumerism. These combined elements collectively contributed to the growth trajectory during that period.

The general warehousing and storage market size is expected to see strongly grown in the next few years. It will grow to $517.3 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The projected growth in the forecast period can be ascribed to several key factors. This includes the emphasis on supply chain resilience, increased adoption of robotics and automation, the implementation of sustainability practices and green warehousing methods, as well as the advancement of last-mile delivery solutions. Noteworthy trends anticipated during this period encompass integration with advanced technologies, the rise of multi-channel distribution centers, the adoption of flexible and scalable warehouse designs, and the emergence of collaborative warehousing models. These trends collectively shape the anticipated growth trajectory in the upcoming forecast period.

The expansion of the general warehousing and storage market owes its growth to fundamental macroeconomic factors like import-export trade, retail industry progress, and the industrial production index (IPI) surge. A higher IPI forecasts heightened general warehousing and storage demand, as these spaces accommodate finished goods from escalated industrial production. According to India's EMBARGO ADVISORY, the combined IPI of core industries in March 2021 spiked to 143.1, marking a 6.8% rise from March 2020.

The upsurge of e-commerce is anticipated to propel the general warehousing and storage sector, with e-commerce significantly shaping retail dynamics through online transactions. Warehouses stand as integral pillars in this domain, ensuring inventory management, efficient order fulfillment, and timely customer deliveries. Morgan Stanley's report in June 2022 highlighted the e-commerce market's growth from 15% of total retail sales in 2019 to 21% in 2021, projected to reach 22% in 2022. It forecasts a steep climb from $3.3 trillion in 2022 to $5.4 trillion in 2026 for the global e-commerce market. Mobile technology has garnered traction among warehouse operators, streamlining operations and reducing time and labor. Devices like tablets, smartphones, and handheld gadgets leverage GPS, RFID, and voice technology to monitor warehouse tasks. For instance, IAM Robotics' June 2023 release, Lumabot, harmonizes human-robot coordination, enhancing warehouse productivity and scalability, a pivotal addition for warehousing, logistics, and manufacturing operations.

Key players in the general warehousing and storage market innovate with solutions like ultra-high storage density, optimizing storage capacity in limited spaces. Hai Robotics' October 2023 launch introduced the world's first telescopic Grapple Hook ACR, HaiPick A42T-E2, and HaiPick System 3. This innovation boosts storage density and performance, incorporating ChainPick technology for enhanced picking and placing efficiency, benefiting industries like 3PL and apparel.

Major companies operating in the general warehousing and storage market report are DHL International GmbH, Kuehne + Nagel International AG, Americold Realty Trust Inc., CEVA Logistics AG, Panalpina Welttransport (Holding) AG, Prologis Inc., Lineage Logistics Holdings LLC, CWT Limited, XPO Logistics Inc., GXO Logistics Inc., NFI Industries Inc., Ryder System Inc., DSV Panalpina A/S, SSI Schaefer LLC, Whirlpool Corporation, Saddle Creek Logistics Services LLC, APL Logistics Ltd., Jacobson Companies Inc., Kane Is Able Inc., Leggett & Platt Inc., Radial Inc., GEODIS S.A., Rhenus Group, ID Logistics S.A., Fulfillment Centers Inc., Verst Group Logistics Inc., Symbia Logistics LLC, Atlanta Bonded Warehouse Corporation, the Suddath Companies.

Asia-Pacific was the largest region in the general warehousing and storage market in 2023.the regions covered in the general warehousing and storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.

The countries covered in the general warehousing and storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The general warehousing and storage market includes revenues earned by entities by providing businesses with the necessary space to store their products when they aren't needed for a sale. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Ownership structures in this sector encompass private warehouses, public warehouses, and bonded warehouses. These warehouses cater to a spectrum of end users across multiple industries, including manufacturing, consumer goods, retail, food and beverages, IT hardware, healthcare, chemicals, and other sectors. Each ownership type caters to distinct storage requirements and operational needs based on the specific demands of these various industries.

The general warehousing and storage market research report is one of a series of new reports provides general warehousing and storage market statistics, including general warehousing and storage industry global market size, regional shares, competitors with a general warehousing and storage market share, detailed general warehousing and storage market segments, market trends and opportunities, and any further data you may need to thrive in the general warehousing and storage industry. This general warehousing and storage global market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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