Warehousing and Storage Market to Grow by USD 326.91 Billion during 2020-2024

Strategic Insights -

The global warehousing and storage market is poised to grow significantly during the forecast period of 2020-2024, driven by the rising demand for refrigerated warehousing and e-commerce industry growth. According to Technavio, the market is expected to grow at a CAGR of 7% and reach a value of USD 326.91 billion by 2024.

The market is driven by factors such as the growth of the e-commerce industry, which is increasing the demand for warehouses to store and distribute goods. Additionally, the growing demand for refrigerated warehousing is also driving the market growth. The major players in the market include A.P. Moller Maersk AS, C.H. Robinson Worldwide Inc., CEVA Logistics AG, and others.

Key Takeaways:

  • The market is expected to grow at a CAGR of 7% during the forecast period 2020-2024.
  • The demand for refrigerated warehousing is a major growth driver, with a growing demand for perishable goods.
  • The market is highly fragmented, with multiple vendors operating in the market, including A.P. Moller Maersk AS, C.H. Robinson Worldwide Inc., CEVA Logistics AG, and others.
  • The market is driven by the growth of the e-commerce industry, with a growing demand for warehouses to store and distribute goods.
  • The major trend in the market is the rising e-commerce industry increasing need for warehouses.
  • The market is expected to grow by USD 326.91 billion during the forecast period 2020-2024.

Statistics:

  • The market is expected to grow at a CAGR of 7% during the forecast period 2020-2024.
  • The demand for refrigerated warehousing is expected to grow by 12% during the next five years.
  • The market is expected to be driven by the e-commerce industry, with a growing demand for warehouses to store and distribute goods.
  • The market size in 2019 was USD 223.8 billion.
  • The market size is expected to grow by USD 326.91 billion during the forecast period 2020-2024.

Sources:

  • Technavio, "Global Warehousing and Storage Market 2020-2024" (BusinessWire)
  • Technavio, "Technavio's SUBSCRIPTION platform for Warehousing and Storage Market 2020-2024" (BusinessWire)
  • BusinessWire, "Technavio Announces Global Warehousing and Storage Market 2020-2024" (September 3, 2020)
  • BusinessWire, "Technavio Launches Subscription Platform for Warehousing and Storage Market 2020-2024" (September 3, 2020)