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The North America warehousing and storage market reached a value of US$ 76.6 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 2.7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A warehouse can be described as a location used to store finished goods, raw materials, semi-finished goods, imported or exported goods, etc. The products are stored at each point of any product's value chain and are made accessible to end customers as and when required. Warehouses allow the organization, whenever there is sufficient demand, to continue its manufacturing throughout the year and sell its products. 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.
IMARC Group provides an analysis of the key trends in each sub-segment of the North America warehousing and storage market, along with forecasts at the regional and country level from 2021-2026. Our report has categorized the market based on warehouse type, ownership type and end-use.
IMARC Group’s latest report provides a deep insight into the North America warehousing and storage market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America warehousing and storage market in any manner.
|Base Year of the Analysis||2020|
|Segment Coverage||Warehouse Type, Ownership Type, End-Use, Country|
|Countries Covered||United States, Canada, Mexico|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License $ 2499
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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