South Korea Warehouse Racking Market Size & Outlook
South Korea warehouse racking market, 2018-2030 (US$M)
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South Korea warehouse racking market highlights
- The South Korea warehouse racking market generated a revenue of USD 192.1 million in 2023 and is expected to reach USD 242.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.4% from 2024 to 2030.
- In terms of segment, selective pallets was the largest revenue generating product in 2023.
- Selective Pallets is the most lucrative product segment registering the fastest growth during the forecast period.
Warehouse racking market data book summary
| Market revenue in 2023 | USD 192.1 million |
| Market revenue in 2030 | USD 242.3 million |
| Growth rate | 3.4% (CAGR from 2023 to 2030) |
| Largest segment | Selective pallets |
| Fastest growing segment | Selective Pallets |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Selective Pallets, Drive-in, Push Back, Pallet Flow, Cantilever |
| Key market players worldwide | Daifuku Co Ltd, Mecalux Espana, Kardex Holding AG Registered Shares, Nucor Corp, Emera Inc, Jungheinrich AG Vorz-Inhaber-Akt stimmrechtslos, SSI SCHAEFER, KION GROUP AG, Toyota Industries Corp |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.1% of the global warehouse racking market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China warehouse racking market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 520.3 million by 2030.
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Warehouse Racking Market Scope
Warehouse Racking Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea warehouse racking market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to warehouse racking market will help companies and investors design strategic landscapes.
Selective pallets was the largest segment with a revenue share of 48.05% in 2023. Horizon Databook has segmented the South Korea warehouse racking market based on selective pallets, drive-in, push back, pallet flow, cantilever covering the revenue growth of each sub-segment from 2018 to 2030.
The market for warehouse racking system in South Korea is expected to witness an ascending growth owing to the increasing application of retail, manufacturing, and packaging industries. The country witnesses a high rate of internet penetration and mobile phone adoption owing to the superior network speed.
Increase in the number of telecommunication network towers that caters large and heavy metals are stored in warehouses using cantilever racks push back, and drive-in racking system. This is expected to increase in the near future with rising mobile phone adoption in the country. Thereby adding significant growth to the overall warehouse racking market.
The infrastructure and construction industry are expected to witness increasing investment in response to growing urbanization in the country. The growing population and rise in tourism are projected to boost construction spending which is expected to drive the demand for warehouse capacity in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea warehouse racking market , including forecasts for subscribers. This country databook contains high-level insights into South Korea warehouse racking market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea warehouse racking market size, by product, 2018-2030 (US$M)
South Korea Warehouse Racking Market Outlook Share, 2023 & 2030 (US$M)
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