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1 Market overview
1.1 Definition and scope of the market
The warehousing and storage market is based around storage services provided to distributors which provide merchandize, refrigerated goods, and other warehouse products.
These facilities generally handle goods in containers, such as boxes and barrels using equipment such as forklifts, pallets, and racks. They are not specialized in handling bulk products of any particular type, size, or quantity of goods or products.
Asia-Pacific account for the largest global market size of around 35%, followed by North America’s 30%. The storage and warehouse industry is growing, and becoming more efficient, precise and faster due to technology. [Businesswire] The market in the US is also growing; as firms look to expand, warehouses can act as a central location where goods can be stored. Moreover, companies increasingly look to outsource their logistics, to focus on their core competencies instead, which drives demand for warehouses. [YAHOOFinance]
Key market players include Amazon, DHL, XPO, and Ryder.
The increase of E-commerce is highly likely to be a key driver in this sector as higher demand will require larger volumes of inventory. [WSJ]
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the warehouse and storage market | United States
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