The specialized warehousing & storage market comprises of the sales of specialized warehousing & storage services and related goods by entities (sole traders, organizations and partnerships) that operate the warehousing & storage facilities for a particular category of goods that need specialized treatment. Few examples are farm product bonded warehousing & storage, farm product private warehousing & storage and grain elevators. Other examples include bulk petroleum storage, automobile dead storage, document storage & warehousing, trudge storage and whiskey warehousing. The specialized warehousing & storage market is categorized into bulk petroleum & chemical storage, automobile dead storage, whiskey warehousing, document storage & warehousing and other specialized warehousing & storage.
As per study, “Specialized
Warehousing And Storage Global Market Report 2020-30: Covid 19 Impact and
Recovery” the key companies operating in the global specialized
warehousing and storage market include Iron Mountain Inc; Apex Oil Company Inc;
Kuehne + Nagel International AG; Mitsubishi Logistics; Kinder Morgan Inc and
among others. Leading players are continuously focused on increasing their
facilities, which significantly drives the market growth. The specialized
warehousing & storage services market is very competitive, mainly due to
presence of local players. The competition is likely to intensify in the future
owing to the relatively low entry barriers that support new entrants to enter
further. Mergers & acquisitions, long term partnerships, and high
investment in the warehouse management software are the key growth strategies
adopted by the players to sustain the intense competition.
The specialized warehousing and storage market is driven by growth in e-commerce industry, followed by rise in popularity of omnichannel and growth in manufacturing, retail, FMCG and logistics sectors. However, high capital-investment for warehouses and high maintenance cost may impact the market. Additionally, development of the frozen food industry, rise in number of healthcare sector which can in-turn grow the warehousing industry and growth in technological advancements such as advent of Artificial Intelligence (AI), Internet-of-Things (IoT) and 3D Printing are leading opportunities for market. Moreover, increase in adoption of smart warehouse is a key trend for market. Furthermore, issue related towards appropriate storage conditions of warehouses is a major challenge for global market.
Based on regional analysis, the
North-America is a leading region in global specialized warehousing and storage
market owing to strong demand from the e-commerce sector along with the
emergence of third part logistics and super-grid logistics across the region.
The Asia-Pacific and Europe regions are estimated to witness higher growth rate
due to growth in manufacturing & export of medicine or drugs and shifting
consumer preference from the offline mode of shopping to online in order to
adhere to social distancing norms during the forecast period. It is estimated
that future of the global specialized warehousing and storage market will be
bright as a result of increase in the production of various goods that need to
be stored in the various sectors coupled with growth in adoption of using IoT
in warehousing for tracking a product in the warehouse during the forecast
period.
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Global
Specialized Warehousing and Storage Market
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