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Warehouse Racking Market size is set to grow by USD 2.14 billion from 2024-2028, Changing consumer preferences boost the market, Technavio

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NEW YORK, June 17, 2024 /PRNewswire/ — The global warehouse racking market size is estimated to grow by USD 2.14 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.21% during the forecast period. Changing consumer preferences is driving market growth, with a trend towards rising demand for retail space. However, increasing competition among vendors in the market poses a challenge. Key market players include AK Material Handling Systems, AR Racking SAU, Beumer Group GmbH and Co. KG, Daifuku Co. Ltd., DMW and H, FIVES SAS, FlexLink Holding AB, Gonvarri Material Handling AS, Honeywell International Inc., Interroll Holding AG, Jungheinrich Group, Kardex Holding AG, KION GROUP AG, Mecalux SA, Murata Machinery Ltd., Russell Industries Inc., Saar Lagertechnik GmbH, SSI Schafer IT Solutions GmbH, The Invicta Group, and Toyota Industries Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Warehouse Racking Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.21%

Market growth 2024-2028

USD 2148.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.74

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 70%

Key countries

China, US, Japan, India, and Germany

Key companies profiled

AK Material Handling Systems, AR Racking SAU, Beumer Group GmbH and Co. KG, Daifuku Co. Ltd., DMW and H, FIVES SAS, FlexLink Holding AB, Gonvarri Material Handling AS, Honeywell International Inc., Interroll Holding AG, Jungheinrich Group, Kardex Holding AG, KION GROUP AG, Mecalux SA, Murata Machinery Ltd., Russell Industries Inc., Saar Lagertechnik GmbH, SSI Schafer IT Solutions GmbH, The Invicta Group, and Toyota Industries Corp.

Market Driver

The global retail market’s expansion, driven by economic growth and urbanization, is increasing the demand for warehouse racking. Leading retailers like Walmart, Costco Wholesale, Kroger, and Schwarz are contributing to this growth. E-commerce is a significant factor, as consumers prefer shopping convenience.

Traditional retail stores sell various brands, but vendors and retailers are expanding their reach, leading to increased demand for warehouse racking. For instance, Max Hypermarket plans to open five new stores annually in India. This retail expansion will fuel the growth of the warehouse racking market. 

The warehouse racking market is experiencing significant growth due to the increasing demand for efficient and automated storage solutions. Racking systems, such as selective, pallet, and automated storage and retrieval systems (AS/RS), are becoming increasingly popular. These systems offer benefits like increased storage density, improved productivity, and reduced labor costs.

Additionally, the trend towards e-commerce and the need for faster order fulfillment is driving the adoption of advanced warehouse technologies like robotics and RFID. Furthermore, the use of sustainable materials and energy-efficient designs is gaining traction in the market. Overall, the warehouse racking market is expected to continue its upward trajectory in the coming years. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The warehouse racking market experiences intense competition from regional and international players, leading to price wars that could impact profit margins and potentially force smaller businesses to exit.This market is characterized by price-driven competition, with companies facing foreign exchange risks due to commercial transactions and assets and liabilities in various currencies. Some firms leverage lower labor costs or currency fluctuations to their advantage. To mitigate competition, companies focus on collaborations for efficiency and technology access. These factors contribute to slow market growth during the forecast period.The warehouse racking market faces several challenges in implementing and optimizing racking systems. These include the need for durable and flexible racking solutions to accommodate various product sizes and shapes. Additionally, the integration of automation and technology, such as robotics and IoT sensors, requires significant investment and expertise.Another challenge is ensuring compliance with safety regulations and maintaining proper inventory management. Furthermore, the increasing demand for sustainable and eco-friendly racking systems adds to the complexity of the market. Overall, the warehouse racking market requires innovative solutions to address these challenges and meet the evolving needs of businesses.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

End-user 1.1 Automotive industry1.2 Food and beverage industry1.3 Retail industry1.4 Electrical and electronics and othersProduct 2.1 Selective pallets2.2 Push back2.3 Drive-in2.4 Pallet flow2.5 Cantilever and othersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Automotive industry- The automotive industry relies on efficient material handling to minimize errors and maximize production. Shelving systems and mezzanine flooring are popular solutions for storing small parts, offering quick access and utilizing overhead space. The growing demand in the passenger car and commercial vehicle segments is driving the need for racking solutions. Global OEMs like BMW, Ford Motor, and Volkswagen are expanding production facilities, boosting the automotive segment of the warehouse-racking market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Warehouse Racking Market encompasses the production, supply, and installation of various types of racking systems, including Pallet Racking, Vertical Frames, Horizontal Beams, and Shelving. These systems are primarily constructed from steel beams, metal frames, and connectors, which are often welded, clipped, or bolted together.

Warehouses in the online retail industry, application industries, and manufacturing sector utilize these racking systems to optimize their storage spaces and increase storage capacity. Space utilization is a significant factor in the economy, as international trade relies heavily on efficient warehousing solutions. Additionally, Pallet Flow Racks are gaining popularity due to their ability to streamline the storage and retrieval process.

Market Research Overview

The Warehouse Racking Market encompasses a variety of systems and technologies designed for efficient storage and retrieval of goods in warehouses and distribution centers. These racking systems come in different types, including pallet racking, drive-in racking, push-back racking, and automated storage and retrieval systems (AS/RS).

The market is driven by factors such as increasing demand for automated warehouse solutions, growing e-commerce industry, and the need for space optimization and improved productivity. Additionally, the integration of IoT and RFID technologies in racking systems is a significant trend in the market. The materials used in racking systems include steel, aluminum, and plastic, with each material offering unique benefits in terms of cost, durability, and weight capacity. The market is expected to grow at a steady pace in the coming years due to the ongoing demand for efficient and cost-effective warehouse solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userAutomotive IndustryFood And Beverage IndustryRetail IndustryElectrical And Electronics And OthersProductSelective PalletsPush BackDrive-inPallet FlowCantilever And OthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

 

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SOURCE Technavio

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Brian Greene Tells LMU Graduates: Embrace Your Moment in the Cosmos with Curiosity and Gratitude

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LOS ANGELES, May 18, 2025 /PRNewswire/ — Brian Greene, a leading theoretical physicist and sought-after communicator of groundbreaking scientific concepts, urged those gathered Sunday for Loyola Marymount University’s graduate and LMU Loyola Law School commencement to appreciate their unique existence in the cosmos, embrace their potential, and approach life with gratitude.

Addressing a rapt crowd on LMU’s sun-filled Westchester campus, the best-selling author told graduates “we have each won the most improbable cosmic lottery.” See the press kit with images and Greene’s commencement video HERE.

“Think about how utterly unlikely it is that you exist,” Greene said. “Think about the nearly infinite collection of quantum processes stretching from The Big Bang until today … yet against those astounding odds – for a brief moment of time you exist, as do I.”

Drawing on discoveries from Albert Einstein to Stephen Hawking and Carl Sagan to Edwin Hubble, Greene traced for students and attendees the arc of scientific discovery allowing us to better understand our place in the universe, and the phenomenon of our capacity to live, comprehend, and connect with one another. Greene also noted the contributions of Jesuit-educated Catholic priest Georges Lemaître, who “used Einstein’s math to catch a glimpse of the possibility that space might be expanding,” an idea widely rejected at the time, only to be established a few years later.

“We can think about the past. We can imagine the future. We can take in the universe, mind and body, with reasoning and emotion allowing us to figure out astonishing things, like how stars shine and light travels, how black holes form and time elapses, allowing for creative achievements … all created by minds like yours, like mine, and that …most certainly will continue to create great beauty, to illuminate great mystery, to experience great wonder.”

 This phenomenon of human existence, Greene concluded, “should give us all a deep sense of connection. A kind of cosmic communion, and a sense that I can summarize with one word: gratitude.”

“Gratitude for being a small transient part of this wondrous unfolding, gratitude for our capacity to come together in groups that, at their best, allow us to each realize our potential, gratitude for our capacity for courage like that of George Lemaître, to stand up to authority, to not accept easy answers, and when necessary to fight for what we believe in. Gratitude that is for human existence, for fragile, delicate, difficult, challenging, painful, exhausting, beautiful, exquisite, transcendent, human existence, however brief, however evanescent, however fleeting.”

Greene is a lifelong learner committed to intellectual inquiry, educational access, and academic excellence. Described by The Washington Post as “the single best explainer of abstruse concepts in the world today,” he is the author of four acclaimed books that have collectively sold millions of copies worldwide. His latest best-selling release, “Until the End of Time,” which explores the cosmos and our quest to understand it, was named one of the “100 Notable Books of 2020” by The New York Times.

Greene’s books have been adapted into two Emmy and Peabody Award-winning NOVA miniseries, both of which he hosted. With journalist Tracy Day, he co-founded the World Science Festival, whose flagship events in New York and Australia have reached an audience of more than two million people, and more than 250 million people online. Greene has appeared on “The Late Show with Stephen Colbert,” played himself in an episode of “The Big Bang Theory,” and made cameo appearances in films including “Frequency,” “Maze,” and “The Last Mimzy.” A Harvard graduate and a Rhodes Scholar, he serves as director of Columbia University’s Center for Theoretical Physics.

Nearly 2,900 LMU undergraduate, graduate, and law students participated in weekend commencement celebrations, which began Saturday with Ahmir “Questlove” Thompson addressing the undergraduate commencement ceremony

ABOUT LOYOLA MARYMOUNT UNIVERSITY

Loyola Marymount University is one of the nation’s top-ranked Catholic universities, recognized by U.S. News & World Report among the top 50 private and top five Jesuit institutions in the country, and among California’s top six private schools. Founded in 1911 and rooted in the Catholic, Jesuit, and Marymount traditions, LMU enrolls 7,100 undergraduates and 3,000 graduate and law students across seven colleges and schools. The university offers 56 undergraduate majors, 57 minors, 43 master’s degree programs, three doctorate programs, and 12 credential/authorization programs. With top-ranked programs in law, film and television, entrepreneurship, business, and the arts, LMU is embedded in the creative, cultural, and economic life of Los Angeles. The university generates $1.4 billion in annual economic impact. A proud member of the West Coast Conference, LMU fields 14 NCAA Division I teams and competes with purpose, pride, and integrity.

LMU news and events are found at: www.lmu.edu/news.

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SOURCE Loyola Marymount University

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1 in 3 Singapore Jobseekers Tricked by Scams, Reeracoen Survey Warns as Digital Hiring Surges

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New findings highlight growing urgency for digital hiring safeguards as trust in recruiters and job sites declines

SINGAPORE, May 19, 2025 /PRNewswire/ — Amid one of Asia’s most digitally advanced labour markets, a new survey by Reeracoen Singapore, in collaboration with Rakuten Insight Global, reveals that 35% of jobseekers in Singapore encountered job scams in the past year, with over half of them targeted more than once.

This worrying trend comes amid a national surge in scams. According to the Singapore Police Force, scam cases rose by 46.8% in 2023, with job scams alone costing victims more than S$20 million. Despite Singapore’s strong governance and advanced recruitment platforms, digital fraud continues to outpace safeguards.

“As AI continues to evolve, it’s becoming harder to tell what’s real and what’s a scam — especially in digital hiring. This is no longer just a tech problem; it’s a human one,” said Kenji Naito, Group CEO of Reeracoen Group. “The value of human involvement and verified interactions is becoming even more important. We must build hiring ecosystems where people feel safe and trust comes by default.”

Jobseekers Losing Faith in Trusted Platforms

The survey found that fraudsters are exploiting legitimate-looking platforms and impersonating recruiters to target tech-savvy candidates. Among the top job search channels are online job portals and company websites, but even these are being misused by bad actors. In response, 79% of jobseekers said they are highly concerned about scam risks and 40% reported declining trust in recruitment platforms and agencies due to scam exposure.

The most common red flags include requests for upfront fees or personal information and suspiciously high salaries paired with minimal job requirements.

“Even in Singapore’s trusted hiring environment, jobseekers are feeling the impact of impersonation scams,” said Shoichi Sunaga, Branch Manager, Reeracoen Singapore. “Verified listings, stronger employer branding, and human-led screening are no longer optional – they’re essential.”

Jobseekers Call for Platform Accountability

Respondents identified the following as top measures they want from job platforms and recruiters:

Stricter screening of job postingsVerified employer and recruiter accountsReal-time user reporting systems for suspicious adsCollaboration with government agencies for enforcement

Notably, only 1 in 5 respondents said they would pay for additional scam protection, reinforcing the expectation that safety should be a built-in standard, not a premium add-on.

Industry-Wide Call to Action

To address these concerns, the report offers strategic recommendations for employers, platforms, and regulators seeking to strengthen digital hiring integrity:

Deploy verification badge systems to deter impersonationImplement AI-powered screening tools to detect and block fraudulent job postingsEnhance collaboration with regulatory bodies like the Ministry of Manpower and Infocomm Media Development Authority on cross-platform enforcementRun public awareness campaigns to educate jobseekers on red flags and reporting mechanisms

Reeracoen advocates for industry collaboration and policy alignment to build a more resilient, transparent digital hiring ecosystem.

To download the full report or explore Reeracoen’s recruitment services, visit: 

Navigating Job Scams in a Digital Hiring Era: Singapore 2025Think of jobs in Singapore, think of Reeracoen Singapore 

About Reeracoen Singapore

Reeracoen is an award-winning leader in Asia’s recruitment landscape, connecting top-tier talent with forward-thinking organisations across the region. With 9 offices across 6 major Asian countries, we combine deep local networks with cross-border hiring expertise to help businesses grow faster and stronger.

Our excellence has been recognised with recent awards such as:

Best Recruitment & Talent Acquisition Agency 2025Best International Recruitment & Talent Acquisition Agency 2024Best Executive Recruitment Agency 2024

In Singapore, we uphold the highest standards of professionalism and service quality, providing innovative and trusted recruitment solutions to help businesses and candidates succeed in an evolving digital economy. For more information, visit www.reeracoen.sg and follow us on social media.

About Rakuten Insight Global, Inc.

Rakuten Insight Global, Inc. (“Rakuten Insight”) is a wholly-owned online market research subsidiary of Rakuten Group, Inc., a global leader in internet services, headquartered in Tokyo. Rakuten Insight was established in 1997 as AIP Corporation and became part of the Rakuten Group in 2014. Rakuten Insight possesses a research panel focusing on 12 major Asian markets & the US and a panel network covering 60 countries and regions. With offices in 11 countries and regions, Rakuten Insight provides market research for over 500 leading companies around the world. Rakuten Insight Singapore serves as an off-shore market research hub to drive business development and provide multi-lingual and multi-functional operational support for clients based across Southeast Asia. For more information, visit https://insight.rakuten.com/ and follow us on social media.

 

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SOURCE Reeracoen

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Other World Computing (OWC) Launches OWC Thunderbolt™ 5 Dock

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TAIPEI, May 19, 2025 /PRNewswire/ — Other World Computing (OWC®) a trusted leader in high-performance storage, memory, connectivity, software, and accessories, today announced the launch and pre-order availability of the OWC Thunderbolt 5 Dock. Purpose-built for creative professionals, power users, and anyone needing a next-gen desktop expansion solution, this future-ready dock delivers exceptional speed, unmatched versatility, and broad device compatibility in a single streamlined hub.

The OWC Thunderbolt 5 Dock empowers users to do more—from high-resolution video editing to data-heavy workflows to turning a USB-C tablet into a full workstation. With next-level bandwidth and power delivery, it’s designed to maximize productivity wherever work happens.

Key Features:

Blazing-fast data performance with up to 80Gb/s bi-directional bandwidth and 120Gb/s for display-intensive tasksDisplay flexibility with support for up to three 8K displays or dual 6K displays on MacsUniversal compatibility with Thunderbolt 5, 4, 3, USB4, and USB-C—backward- and future-compatible140W power delivery, charging even the most demanding notebooksDaisy chain support for up to three independent Thunderbolt device chains

All the Ports You Need… and Then:
With 11 total ports, users can connect everything they need, including three Thunderbolt 5 (USB-C) ports, two USB-A 10Gb/s, one USB-A 5Gb/s, 2.5GbE Ethernet (MDM ready), SD and microSD UHS-II slots, 3.5mm combo audio, and more.

Transform Your Tablet, Power Your Projects:
The OWC Thunderbolt 5 Dock turns iPad Pro and other USB-C tablets into true desktop workstations—perfect for mobile content creators needing high-speed access to displays, drives, and peripherals through a single cable.

Each unit is Thunderbolt-certified and reliability-tested and included technologies, like OWC Dock Ejector ensures that your data and devices have added protection that other products on the market cannot provide. Apple SuperDrive compatibility for CD/DVD access is also included..

Priced at $329.99, the dock includes a certified Thunderbolt 5 cable, external power supply, and OWC’s award-winning customer support. Pre-orders are now open, with shipping expected in early July. Visit owc.com/solutions/thunderbolt-5-dock for more details.

The OWC Thunderbolt 5 Dock will be showcased at COMPUTEX TAIPEI, May 20–23, 2025, in Booth #J0527a.

About Other World Computing (OWC)

Founded in 1988, OWC is a trusted leader in high-performance storage, docks, and memory card solutions that empower professionals in video and audio production, photography, and business with the tools to seamlessly maximize the performance and reliability of their workflows.

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SOURCE Other World Computing (OWC)

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