Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) — The “North America Warehousing and Storage Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The North America warehousing and storage market size reached US$ 84.0 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 97.9 Billion by 2028, exhibiting a growth rate (CAGR) of 2.5% during 2023-2028.
Warehouses can generally be split into three classifications, including general warehousing and storage, warehousing and storage of agricultural products, and refrigerated warehousing and storage. The rising demand from key application areas such as automotive, manufacturing, retail, technology, healthcare, construction, etc. are expected to witness strong development in the coming years. In addition to this, we expect strong demand from the e-commerce sector as well. Web-based shopping has become popular and a go-to-option for nearly all customer types, escalating the demand for warehousing facility. Moreover, catalysed by the growing popularity of frozen foods, the demand for refrigerated storage and warehousing has also increased. This can be ascribed to the easy availability of frozen food that is easy to cook and safe for consumption.
The North America warehousing and storage market is currently being driven by several factors. The demand for outsourcing warehousing services has been growing from manufacturing companies catalysed by their productional and operational expansions. This has led to an increase in logistics needs in terms of the storage of raw materials and finished goods for retailers and distributors. In addition to this, considering the advantages of outsourcing in terms of enhanced operational efficiency and cost savings, shippers are also increasingly outsourcing the logistics portion of their activities to warehouse service suppliers. This allows them to concentrate on their core competencies.
Apart from this, warehousing and storage helps in managing a large amount of inventory for a business. It assists in matching the supply with the demand of a rapidly changing environment. Moreover, since all the goods are stored in a central location, it becomes easier to receive, store and distribute the products. Thus, reducing the transportation costs of a business. The accumulation of the goods allows a warehouse to act as a buffer and keep a balance between the demand and supply of the goods, profiting the business. Additionally, a warehouse also serves a wide range of social benefits to the clients, by helping them to keep a safety stocking for the time of emergency, such as delay in the transportation and shipment having defective goods, etc.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the North America warehousing and storage market report, along with forecasts at the regional and country levels from 2023-2028. The report has categorized the market based on warehouse type, ownership type and end-use.
Key Regions Analyzed
- United States
Market by Warehouse Type
- General Warehousing and Storage
- Refrigerated Warehousing and Storage
- Farm Product Warehousing and Storage
Market by Ownership Type
- Private Warehouses
- Public Warehouses
- Bonded Warehouses
Market by End-Use
- Consumer Goods
- Food and Beverage
- IT Hardware
Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- PESTEL Analysis
- Government Regulations
- Competitive Landscape
- Competitive Structure
- Key Player Profiles
For more information about this report visit https://www.researchandmarkets.com/r/z0q85p
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- North American Warehousing and Storage Market