Mold Racks Market Forecast and CAGR
According to latest research by Fact.MR., The market is set to witness steady growth during 2021-2031. Demand for Mold Racks will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Muted demand from supply chain industry and automotive industry will provide limited opportunities in near future, however, sales of mold racks in automotive sector will provide momentum.
What is Driving Demand for Mold Racks?
Evolving end-user demand for storing bulky items like modules, engines, dies and equipment’s to drive demand. Automotive & Industrial applications continue to be a lucrative avenue for manufacturers.
Sales of mold racks are in boom, because of reliability features, high quality materials used by the manufacturers. The improvements in shelve sizes according to warehousing capacity and space are challenges for the manufacturers.
In addition to traditional applications in protecting mold and dies for injection molding and blow molding, space optimization, organized retrieval systems is growing in the industrial and automotive sector. This are especially used in warehouses for proper functional and organized storage systems. They are the most popular choice because they provide organized storage and are cost-effective.
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Automotive Recovery Likely to Augment Mold Racks Sales
Automotive sales around the globe have been impacted by COVID-19 induced slowdown. This has also had a ripple effect on automotive component and material sales. As space utilization is a key focus area for automotive OEMs, the manufacturers are likely to witness sustained opportunities in the future.
Racks are also used extensively in storage and distribution centers. Although lockdown and shelter-at-home guidelines have meant restricted many industries, sales of racks are likely to improve over the course of the assessment period.
US and Canada Mold Racks Market Outlook
US is considered as one of the prominent markets. The US market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031. Demand is likely to remain muted in the next coming year, as a number of end-use industries make gradual recovery.
Demand in US and Canada will be led by as more technical advances, early adoption of racking systems, a well-established distribution network, and ongoing storage space optimization technologies which have resulted in a high demand for mold racks in countries such as the United States and Canada.
US sales will also be impacted by the automotive sector recovery in 2021. The US automotive sector faces a challenging year, however growth in automotive and industrial applications to witness in coming years which will provide the manufacturers to sustain in this market during the forecast period.
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Europe Demand Outlook for Mold Racks
Many countries in Europe have been severely impacted by the COVID-19 crisis, which has led to a decline in industrial activities. However, the business is expected to benefit from increased construction activity of new warehouses and distribution centers in Germany, Spain and different countries across Europe.
In the European regions, industries such as retail and food are rapidly expanding, contributing significantly to the growth of the market. The retail industry in these countries is expected to be driven by large volumes of packaged food goods, positively influencing the mold rack market.
For manufacturers and suppliers, the strong projections for Europe’s expenditure can be offset by weakness in automotive sector. However, refocus on construction and infrastructure development will remain key to steady demand in the long run.
Asia pacific Mold Racks Market Outlook
The demand for packaged food products in China and Japan is expected to drive the retail industry in these countries, positively impacting the mold rack market. Mold Racks are in high demand in both the commercial and industrial sectors.
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Who are the Key Manufacturers and Suppliers of Mold Racks?
Some of the leading manufacturers and suppliers include
- Daifuku Co. Ltd.
- Kardex Group
- Hannibal Industries
- Emrack International
- Jungheinrich AG
- RAPISTAK CORP.
- Steel King Industries Inc.
- Frazier Industrial Company
- Guangdong Sunli Intelligent Logistics Equipment Co. Ltd.
- Yuyao Sanlian Goods Shelves Manufacture Co. Ltd.
Many leading manufacturers and suppliers are using materials like steel and aluminum which gives long life product quality with lightweight property, this help to improve the growth of the market.
Mold Racks Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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By Holes Design
- Position drilled
- Inch adjustability
By Column Heights
- < 86”
- 86” to 100”
- 100” to 120”
- 120” to 150”
- > 150”
By Shelf Design
- Solid-welded sheet metal shelf
- Knock-down bar grating shelf
- Custom shelf
By Material Type
By End-use Industry
- North America
- Latin America
- East Asia
- South Korea
- South Asia Pacific
- Middle East and Africa
- GCC Countries
- Northern Africa
- South Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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