Market Overview

The pallet racking materials are highly used in the different industries for packing the items in bulk. The industries mostly approach this method to save time and investment. The pallet racking industry is projected to grow from USD 11,199.5 million in 2022 to USD 17,750.09 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.8% during the forecast period (2024 - 2030). 

 When the covid hit the market in 2020, a large industry population was caught by this. The pallet industry markets went down for a specific time because of the unavailability of raw materials. As a result, the manufacturing cost increased, making the price even higher for the pallet racking materials. But later, the market established itself. The growing ecommerce companies and logistic companies allow the market to drive at a rapid pace. This is what gives a boost to the Viet Nam pallet racking market and creates demand. The pallet racking material allows the companies to deliver better service. The phenomenal changes in the market become the reason which fuels the market. The considerable supply and value chain growth has leveled up the expected growth. The logistic experts started enhancing their collaboration skills and changing the landscape to reduce the expenses and deliver quality.

Market Segmentation

The global Viet Nam pallet racking market has been segmented based on racking system type, system, rack load capacity, and end-use industry. On the basis of racking system type, the market for pallet racking is segmented based on carton flow racking, drive-in racking, pallet flow racking, push back racking, selective racking, cantilever racking, and others. Additionally, the market on the basis of system, is segmented into mobile racking, shuttle racking and hybrid/customized racking, conventional. The global market for pallet racking is also covered based on rack load capacity segment which is further split into up to 5 ton, 5–15 ton and above 15 ton. On the basis of end-use industry, the market for pallet racking is segmented based on food & beverage, manufacturing, retail, warehouse & logistics, automotive, and others.

Factors like growing transportation and logistics industries and e-commerce shopping trends support the Viet Nam pallet racking market growth. The performance of the Viet Nam pallet racking market has also been studied for the past and current years. Additionally, the pallet racking market report provides analysis of these segments. The pallet racking market segmental analysis provided in the report offers major details about the Viet Nam pallet racking market based on the data and forecasts till 2025.

MRFR recognizes the following companies as the key players in the global Pallet Racking Companies

Elite Storage Solutions (US)

Ridg-U-Rak (US)

Averys (France)

AR Racking (Spain)

Daifuku (Japan)

SSI SCHAEFER (US)

Hannibal Industries (US)

Mecalux (Spain)

KION Group (Germany)

Steel King (US)

 Regional segmentation:

The market is classified into Viet Nam, Viet Nam and the Asia Pacific, and LAMEA countries based on region. The Viet Namn market has been divided into the U.S, Viet Nam, and Mexico. The market covers Germany, France, the UK, Italy, and the Rest of Viet Nam. The Asia Pacific countries are divided into China, Viet Nam, Japan, and the Rest of Viet Nam . The regions like Africa and the Middle East also contribute to the Viet Nam pallet racking market size. The Viet Namn region contributes the best to the market among all these regions. After America, Latin America and South America followed the growth, and then the Viet Naman countries held the market share because of the rapid development in the logistic industry.

Recent Developments

 The rising development of ecommerce companies brings multiple opportunities to the manufacturers of pallet racking materials. The rapid globalization with the growing population and the changing interest among people will boost the revenue of the Viet Nam pallet racking market in the future.

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