Global Transport Racks Market 2018-2022 | Rising Demand for Automation and Robotics to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 3, 2018--The global transport racks market research report by predicts the market to post a CAGR of over 6% during the period 2018-2022.
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Technavio has published a new market research report on the global transport racks market for the period 2018-2022. (Graphic: Business Wire)
The requirement for transport racks has been increasing with the increase in global import and export activities. The global logistics market is expected to reach USD 1200 billion by 2022. The third-party logistics and trucking companies play a major role in the growth of the global transport racks market. This growing demand for transport racks from the logistics industry is a key driver for the global transport racks market.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing demand for automation and robotics will be one of the key trends in the global transport racks market:
Global transport racks market: Increasing demand for automation and robotics
There is an increase in supply chain complexities due to the fast-growing trade activities across the globe. Thus, manufacturing companies and warehousing service providers are looking for efficient solutions to improve operational effectiveness at a low cost. The adoption of automation and robotics is simplifying the warehousing complexities by reducing human interventions.
“The manufacturing industries have been investing heavily in robotics. The automotive industry is a major end-user of robotics. The global automotive industry accounted for over 30% of the global industrial robot production in 2017. In terms of industrial robots production, Japan is one of the key countries. Japan accounted for 50 to 55 percent share of industrial robots production in 2017,” says a senior analyst at Technavio for research on logistics.
Global transport racks market: Segmentation analysis
This transport racks market analysis report segments the market by end-user (construction industry and automotive industry) and geography (the Americas, APAC, and EMEA).
The construction industry held the largest transport racks market share in 2017, accounting for nearly 38% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with around 42% of the market share, followed by the Americas and APAC respectively. EMEA is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 10/03/2018 08:41 AM/DISC: 10/03/2018 08:41 AM