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Report Overview
The global warehousing and storage market value reached around USD 488.42 Billion in 2023. The rapid expansion of the e-commerce industry is a significant contributor, as online retailers, such as Amazon require efficient warehousing solutions to manage inventory and fulfill orders swiftly. The market is also witnessing rising demand for refrigerated warehousing, particularly in the food and beverage sector, where consumer preferences for fresh and perishable goods necessitate temperature-controlled storage. As a result, the industry is expected to grow at a CAGR of 4.50% during the forecast period of 2024-2032 to attain a value of USD 725.84 Billion by 2032. Technological advancements, such as warehouse automation and the integration of drone technology for inventory management, are also enhancing operational efficiency and reducing costs.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The warehousing and storage market is experiencing robust growth, driven significantly by the expansion of the e-commerce sector and changing consumer behaviours. In India, the e-commerce sector has shown steady expansion, with the government e-marketplace (GeM) achieving a record Rs 2 lakh crore in gross merchandise value during FY 2022-23. This surge in online transactions is fuelling demand for efficient warehousing solutions to manage inventory and ensure timely delivery.
- According to the International Trade Administration, Canada had over 27 million eCommerce users in 2022, representing approximately 75% of the population. This figure is projected to rise to 77.6% by 2025, indicating a growing reliance on online shopping that necessitates increased warehousing capabilities. As e-commerce continues to thrive, businesses are investing in advanced warehousing solutions to accommodate higher volumes of goods and streamline operations, thereby leading to warehousing and storage market expansion.
- Warehouses play a crucial role in business inventory management by housing finished products, raw materials, and goods for import/export. They ensure availability for end-users, which is vital for maintaining supply chain efficiency. The market is set to grow due to the increasing demand for refrigerated warehousing and the omnichannel retail model.
Warehousing and Storage Market Trends
The market is witnessing a rise in sustainability efforts as warehouses increasingly adopt eco-friendly practices. This entails implementing energy-saving lighting, integrating solar power, reducing waste, and obtaining green building certifications to reduce environmental effects and decrease operational expenses, which can enhance the growth of the warehousing and storage industry.
As per a 2023 survey by the World Economic Forum, around 60% of logistics companies are increasingly investing in material handling green initiatives. The usage of Efficient and sustainable material handling practices can minimise waste as well as energy consumption and emissions. A 2023 survey by the Council of Supply Chain Management Professionals further found that around 85% of logistics companies use a waste reduction program. For instance, the implementation of robust recycling programs in warehouses ensures that materials such as cardboard, plastic, and metal, among others, are recycled properly. The usage of composting programs for organic waste generated in the warehouse is another crucial waste reduction program.
Warehousing and Storage Market Report Snapshots
Warehousing and Storage Market Size
Warehousing and Storage Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 488.42 Billion.
The warehousing and storage market is assessed to grow at a CAGR of 4.50% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 725.84 Billion by 2032.
The expansion of the warehousing and storage market is driven by technological progress, the rise of e-commerce, the integration of IoT, and the adoption of sustainable practices.
The warehousing and storage market is categorised according to its type, which includes general warehousing and storage, refrigerated warehousing and storage and farm product warehousing and storage.
The leading players in the market are DHL International GmbH, C.H. Robinson Worldwide, Inc., CEVA Logistics, DSV A/S, FedEx Corporation, Ryder System, Inc., NFI Industries, XPO, Inc., and AWL India Pvt Limited among others.
Based on the ownership, the warehousing and storage market is divided into private warehouses, public warehouses, and bonded warehouses.
The major areas include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124