India Industrial Racking System Market

India Market Study on Industrial Racking Systems: Demand for Medium Duty Systems to Remain Highest

India Industrial Racking System Market Segmented By Selective Racking Systems, Cantilever Racking Systems, Push Back Racking Systems, Narrow & Wide Aisle Racking Systems, Drive-In-Racking Systems, Pallet Flow Racking Systems, Carton Flow Racking Systems, Mobile Racking Systems, Pigeon Hole Racking Systems, FIFO Racking Systems Design

India Industrial Racking System Market Outlook (2022-2032)

The India industrial racking system market is valued at US$ 542.8 Mn in 2022, and is projected to surge ahead at a CAGR of 10.3% to reach a market valuation of US$ 1.4 Bn by the end of 2032.

Industrial Racking System Market Size (2022E)

US$ 542.8 Mn

Projected Year Value (2032F)

US$ 1.4 Bn

Value CAGR (2022-2032)

10.3%

Market Share of Top 5 Manufacturers

62.5%

With a growing industrial sector & rising e-Commerce activities in India, manufacturers across industry verticals are focusing on expanding their storage capacities in order to create a strong supply chain network. As such, investments for warehouses have been increasing, which is creating high demand for industrial racking systems in the country.

The 3PLs end-use segment is expected to dominate the Indian market for industrial racking systems in terms of revenue, and is anticipated to expand steadily throughout the forecast period of 2022-2032).

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Companies

  • Kardex
  • Jungheinrich AG
  • Daifuku Co., Ltd.
  • SSI Schaefer
  • Godrej Group
  • Nilkamal Storage Systems Private Limited
  • SILVER LINING Storage Solutions
  • Delta Storage Systems Pvt. Ltd.
  • Giraffe Storage Solutions
  • Racks & Rollers (Storage Technologies & Automation Pvt. Ltd.)
  • Kirby Building Systems
  • Craftsman Storage Systems

Demand Analysis of Industrial Racking Systems in India (2016-2021) Compared to Market Forecasts (2022-2032)

Over the past half-decade, sales of industrial racking systems has increased in parallel with growing e-Commerce activities and setting up of new warehouses in urban areas of India. Growth in demand and sales can be attributed to the increasing demand for warehousing technologies, effective inventory management, and space optimization.

With rising expansion of cold storage facilities and growing cold supply chain due to expansion of the food & beverage industry, demand for mobile racking systems is rising rapidly as these are highly suitable for operation under variable temperature conditions. Mobile industrial racking equipment is ideally suited for use in negative temperature environments up to -40° C.

In India, some of the prominent manufacturers of industrial racking systems are investing heavily in research and development (R&D) activities to manage their warehousing activities more efficiently.

Continuously rising e-Commerce sector in India coupled with growing logistics sector is expected to boost demand for industrial racking solutions and systems in India at a high CAGR of 10.3% over the decade.

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Which End-use Sector Offers Great Opportunity for Industrial Racking System Manufacturers in India?

“Growing 3PLs Market Set to Augment Sales of Industrial Racking Systems”

e-Commerce, digital creation, and infrastructure development are the main contributors to 3PL sector growth in India. India's 3PL market continues to show promise, driven by behavioural changes in consumer patterns, such as rising popularity of online shopping, recent tax reforms, and government programs to build capacity and infrastructure.

The Indian logistics industry primarily includes a complex range of cargo- and freight-related transportation sectors. Logistics is one of the most crucial industries in the economy as its important function is to manage the movement of products from manufactures to end users. As such, the industry involves a combination of warehousing, material handling, packaging, supply chain management, transportation, inventory management, procurement, and shipping security aspects.

As a result, the 3PL sector drives huge demand for industrial racking products in the country.

“Growing e-Commerce Network in Urban Areas to Aid Market Expansion”

Another major factors influencing industrial racking solutions market growth is the strong supply chain network for e-Commerce in the country.

e-Commerce has changed the way customers shop in India over the past few years, supported by increase in Internet and smartphone access, rise of digital literacy, and government support for the digital push. COVID-19 also accelerated the transition to online shopping and the emergence of new strains of the virus will drive more and more people to shop online.

The Government of India has taken many initiatives in the infrastructure department, which include improving connectivity between prominent metro cities as well as ports and dedicated freight corridor plans to facilitate smooth freight movement using multi-modal logistics parks and railroads across the country.

All such developments will create a positive landscape for the industrial racking system manufacturers in India.

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What are the Barriers Being Faced by Industrial Racking System Suppliers?

“Rising Price of Steel in India Affecting Market Expansion”

Steel is one of the most popular materials for the production of industrial racking systems, as it has strong load bearing capacity and high durability. Rising price of steel can impact the growth of market participants negatively, as this would affect the production cost and profitability margins of industrial racking system producers.

Indian steel manufactures have increased the prices of TMT bars and hot-rolled coils (HRCs) by up to INR 5,000 per tonne, as the supply chain has been impacted due to the current Russia-Ukraine conflict. According to industry sources, prices have increased by 18% to 20%, and are anticipated to go up further in times ahead, thereby affecting industrial racking system demand growth.

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Category-wise Insights

Which Industrial Racking System Design Type is Most Demanded?

“Selective Racking Systems Enjoy Highest Popularity across the Country”

Selective industrial racking systems is one of the most common types of racking for warehouses and has the lowest storage capacity of pallets. It is just one pallet deep and has a maximum of two racks that are placed back to back.

Selective pallet racking systems not only offer a versatile warehouse storage solution but also pallet storage capacity at a low cost per square meter of racking. By using selective racking systems first in first out (FIFO) inventory management is possible.

In this kind of storage, consumers can access every pallet by using a FIFO inventory management system, thus driving high growth of this segment across the country.

The selective racking systems segment is expected to expand at a CAGR of around 9.6% to reach a market valuation of to US$ 232.6 Mn by the end of 2032.

Which Load Carrying Capacity is prominently use in India?

“Medium Duty Load Carrying Capacity Industrial Racking Systems Preferred in India across F&B Industry

Medium duty industrial racking systems are estimated to be valued at US$ 826.2 Mn by 2032, exhibiting a CAGR of 11.7% through the same period.

Medium duty racking systems holds the largest market in India as these racks are highly preferred for SKU storage management. Medium duty industrial racking systems can store shelf loads between 0.25 tons and 1 ton. This industrial racking system type is mostly used in the Indian market for various industry verticals

Medium duty racks are durable, robust, cost-effective and flexible shelf-mounting systems that reduce space usage due to their upright nature, which makes them appropriate for a wide range of storage applications in facilities, warehouses, offices, and retail outlets.

Competitive Landscape

Over the past decade or so, more and more acquisition and expansion activities have been witnessed to improve the supply chain of industrial racking systems. Key manufacturers of industrial racking systems are also focusing on developing new technology-driven equipment. Emergence of new manufacturers has also been witnessed in this space.

For Instance:

  • In November 2021, SSI SCHAEFER supplied a heavy duty mobile racking system to Offergeld Logistik.
  • In the month of February 2021, Daifuku Co., Ltd. and Germany-based AFT Industries AG entered into a partnership agreement that was aimed at leveraging the material handling expertise of both companies in the automotive industry.

India Industrial Racking System Industry Report Scope

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2016-2021

Market Analysis

  • USD Million for Value
  • Mn Units for Volume

Key Countries Covered

  • India

Key Market Segments Covered

  • Design
  • Carrying Capacity
  • Sales
  • End Use

Key Companies Profiled

  • Kardex
  • Jungheinrich AG
  • Daifuku Co., Ltd.
  • SSI Schaefer
  • Godrej Group
  • Nilkamal Storage Systems Private Limited
  • SILVER LINING Storage Solutions
  • Delta Storage Systems Pvt. Ltd

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

India Industrial Racking System Industry Research by Category

India Industrial Racking System Market by Design:

  • Selective Racking Systems
  • Cantilever Racking Systems
  • Push Back Racking Systems
  • Narrow & Wide Aisle Racking Systems
  • Drive-In-Racking Systems
  • Pallet Flow Racking Systems
  • Carton Flow Racking Systems
  • Mobile Racking Systems
  • Pigeon Hole Racking Systems
  • FIFO Racking Systems

India Industrial Racking System Market by Carrying Capacity:

  • Light Duty (40 to 200 kg) Industrial Racking Systems
  • Medium Duty (0.25 to 1 Ton) Industrial Racking Systems
  • Heavy Duty (2-4 Tons) Industrial Racking Systems

India Industrial Racking System Market by Sales:

  • Direct Ownership
  • Rentals

India Industrial Racking System Market by End Use:

  • Automotive
  • Construction
  • Chemical & Pharmaceutical
  • Food & Beverage
  • E-Commerce
  • 3PLs
  • Textiles
  • Paper & Print
  • Defense & Railways
  • Cold Storage
  • Other Manufacturing

Media Release

- FAQs -

The India industrial racking system market is currently valued at US$ 542.8 Mn.

Demand for selective racking systems is set to rise the fastest over the coming years.

Bloating e-Commerce sector in India is driving major market expansion.

From 2017 to 2021, demand for industrial racking systems in India increased at a CAGR of 5.2%.

Sales of industrial racking systems are projected to increase at 10.3% CAGR and be valued at US$ 1.4 Bn by 2032.

Jungheinrich AG, Godrej Group, Kirby India, SSI Schaefer, and SILVER LINING Storage Solution are major manufacturers of industrial racking systems in India.

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