Global Refrigerated Warehousing And Storage Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
27 Jan, 2021
The refrigerated warehousing and storage market consists of sales of refrigerated warehousing and storage services and related goods by entities (organizations, sole traders and partnerships) that operate refrigerated warehousing and storage facilities. Establishments in the refrigerated warehousing and storage industry provide services such as blast freezing, tempering and modified atmosphere storage services.
Global Refrigerated Warehousing And Storage Market Size And Drivers:
The global refrigerated warehousing and storage market is expected to grow from $112.77 billion in 2020 to $116.54 billion in 2021 at a compound annual growth rate (CAGR) of 3.3%. The market is expected to reach $164.11 billion in 2025 at a CAGR of 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
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Trends In The Global Refrigerated Warehousing And Storage Market
Warehouses are increasingly using mobile technologies to efficiently monitor warehouse operations. Mobile technology includes use of tablets, smart phones, mobile printers and other handheld devices for communication and information. These devices make use of GPS, RFID, VoIP, digital imaging and voice technology. Technicians operating forklifts and automated material handling equipment in a warehouse are using mobile technologies to obtain information on troubleshooting, repairs and work orders. This gives warehouse managers access to equipment status and performance reports and enables them to track warehouse operations around the clock. Wearable technology such as smart glass is being integrated with warehouse management systems to improve hands-free mobility for workers.
Global Refrigerated Warehousing And Storage Market Segments:
The global refrigerated warehousing and storage market is further segmented based by type, application, and geography.
By Type: Cold Storage, Frozen Storage
By Application: Fruits & Vegetables, Bakery & Confectionery, Milk & Dairy Products, Meat, Seafood, Beverages, Others
By Geography: The global refrigerated warehousing and storage market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global refrigerated warehousing and storage market, accounting for 34% of the total market.
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Refrigerated Warehousing And Storage Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides refrigerated warehousing and storage market overviews, analyzes and forecasts market size and growth for the global refrigerated warehousing and storage market, refrigerated warehousing and storage market share, refrigerated warehousing and storage market players, refrigerated warehousing and storage market segments and geographies, refrigerated warehousing and storage market’s leading competitors’ revenues, profiles and market shares. The refrigerated warehousing and storage market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.