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Report Overview
The global warehousing and storage market reached USD 488.42 billion in 2023. The market is expected to grow at a CAGR of 4.5% between 2024 and 2032, reaching almost USD 725.36 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The Indian e-commerce sector has demonstrated steady expansion, with the government e-marketplace (GeM) hitting a record Rs 2 lakh crore gross merchandise value in FY 2022-23, fuelling global market growth.
- According to the International Trade Administration, Canada had over 27 million eCommerce users in 2022, representing 75% of the population. This figure is projected to rise to 77.6% by 2025.
- Warehouses are crucial for business inventory management, housing finished products, raw materials, and goods for import/export, ensuring availability for end-users.
Warehousing and Storage Market Trends
Technological Advancements in The Market
One major trend of warehousing and storage market is attributed to a significant rise in automation. Robotics and AI-driven technologies are revolutionising operations, enhancing efficiency, minimising errors, and speeding up order fulfilment within the industry. For instance, Move Robotics, a technology provider in Malaysia, is known for the development of autonomous mobile robots and automated guided vehicles. Its Alpine-Series AMRs are known for improving outdoor efficiency for intra-logistic operations and its AE10 Autonomous Forklift Robot is known for its superior material handling precision and safety.
Warehouses are also embracing modular construction methods for easy adjustments to storage needs. This flexibility enables efficient expansion or reorganisation as business demands evolve. For instance, Unload’s three-dimensional compact box can reduce the wasted areas in aisles, shelves, and above conveyor belts for increasing the storage capacity in storage houses. Incorporating augmented reality (AR) in warehousing boosts productivity by providing hands-free information access, aiding navigation, and aiding in training. AR streamlines tasks reduces errors and enhances warehouse efficiency.
Expansion of the E-commerce Sector
The expansion of online shopping drives demand for smaller, strategically positioned warehouses in urban areas, contributing to the demand of warehousing and storage market. These last-mile facilities facilitate swift deliveries, aligning with customer expectations in the rapid e-commerce environment. For instance, DACHSER opened a new warehouse in Waddinxveen near Rotterdam in the Netherlands. This new warehouse increases the site’s capacity to 55,000 pallet spaces and is built in the industrial area of Waddinxveen, which facilitates the daily transport of goods in Europe.
As per the data by TRAI’s Indian Telecom Services Performance Indicators from January to March 2023, internet subscribers in India exceeded 880 million users as of March 2023. The rise in e-commerce shopping is especially prevalent in tier 2 and tier 3 cities in India, with around 60% of the total orders from these regions, which boosted the demand for more warehouse and storage facilities to accommodate these orders.
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
The market was valued at USD 488.42 billion in 2023.
The market is projected to grow at a CAGR of 4.5% between 2024 and 2032.
The revenue generated from the warehousing and storage market is expected to reach USD 725.36 billion in 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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