- General Warehousing & Storage
- Refrigerated Warehousing & Storage
- Farm Product Warehousing & Storage
Warehousing and Storage Services Market was valued at USD 469.3 billion in 2022 and is expected to grow at a 4.3% CAGR from 2023 to 2029. Warehouse and storage services provide storage for another company or organization for various equipment, vehicles, products, and perishable goods. The warehousing & storage service include inventory control management and distribution. Storage period can be temporary or on a long term based on the type of contract. The growing trend and increasing demand for online business platform and E commerce is expected to increase demand for warehousing and storage services across the globe and also expected to drive the market growth over the forecast period.
In addition, increasing demand for manufactured products, processed and frozen food products are expected to fuel the growth of warehousing and storage services market over the forecast period. Furthermore, the growing need for efficient supply chain management owing to the increased demand for consumer goods is anticipated to further fuel the growth of warehousing & storage service market at a significant rate over the forecast period. However, the high initial cost of real estate and labor along with the growing trend of inhouse warehousing and storage solutions are expected to hold back and hinder the growth of warehousing & storage services market over the forecast period. Moreover, the market players can differentiate themselves by offering specialized services such as temperature-controlled storage, value added services like packaging and labelling are expected to provide opportunities to the market players in the growth of warehousing & storage service market. In addition, the increasing demand for new product types has led to search for new innovative technologies that can help them reduce the complexity and provide them with tools to manage the facility better. Geographically, North America region held the major market share in 2022 and is expected to dominate the global warehousing & storage services market in the forecasted years.
In February 2022 - Amazon India leased a 154,000-warehouse facility in Pune for 20 years from Indospace, a real estate and logistics park developer.
Fastest Growing Market
The warehousing and storage services market is expected to grow over the forecasted period due to the growing demand for e-commerce business. The increasing trend of online sopping has resulted in increasing demand for efficient and timely delivery of gods to the consumers. This has led to the need for more advanced warehousing and storage solutions, such as real tie inventory tracking, and automated systems in warehousing. Usually, the e-commerce companies often outsource their warehousing and storage needs to third party logistics provider which is expected to drive the market growth at a significant rate over the forecast period.
Warehousing & Storage Services Market was valued at USD 469.3 billion in 2022 and is expected to grow at a 4.3% CAGR from 2023 to 2029.
Increasing trend of online shopping and growing e-commerce business are expected to drive the growth of warehousing & storage service market.
Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation and Seven years forecast presented from 2023– 2029.
The leading players in the global Warehousing & Storage Services market are XPO Logistics Inc., Ryder System Inc., FedEx Corp, DHL International GmbH, NFI Industries Inc., Aramex International LLC, CEVA Logistics AG, Sino trans Ltd, Omni Logistics LLC, Kerry Logistics Network Ltd, Deutsche Bahn AG, CJ Logistics Corp.