Global cantilever racks market is estimated to grow considerably in the forecast period due to growing demand from manufacturing industries. Cantilever racks are the ideal material for handling storage system. They are mainly designed for thinner and longer products, such as beams, timber, pipes, etc. These products are handled and placed with the help of lifting systems like mobile cranes, lift trucks, and stacker cranes, which are selected by product weight and height of the cantilever rack. Unlike pallet raking system, cantilever racks do not restrict the length of stored products.
Factors influencing the cantilever racks market comprise increase in demand from the various industries, such as food and beverage, increasing warehouse space optimization, retail segment including consumer goods and electronics, highly improved design of the racks that allow easy and quick assembly of shelves with improved mobility. Moreover, cantilever racks offer great simplicity and strength, and saves a lot of time and money for the manufacturing industries, which ultimately accelerates the demand for cantilever racks. Growing e-commerce sales is one of the trends witnessed in the market. Moreover, increasing number of online retailers is another trend observed in the market.
Cantilever racks market is categorized based on product type, application, end user, and geography. Based on product type, market is divided into pallet flow rack, selective racking, drive-in pallet racks, cantilever racks, and push back pallet racks. Amongst all, selective racking system is widely used since it enables accessibility from the structure’s aisle and can be easily installed as compared to others. Moreover, the load beam in selective racking offers pallet support structure.
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In terms of application, market is divided into large-scale retail, distribution centres, and manufacturing facilities. Manufacturing facilities segment is predicted to lead the market in future due to high demand from manufacturing industries on the global scale.
In terms of end user, cantilever racks market is divided into automotive, food and beverages, retail stores, steel and lumber, and others. Steel and lumber industry is expected to hold larger share of the market owing to high adoption of cantilever racks due to improved efficiency. Furthermore, food and beverage industry and retail stores lead the market due to growing consumer goods and electronics industry and high demand for foods on the global scale.
Geographically, market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to dominate the market in the coming years due to demand from manufacturing industries. Europe is also expected to contribute significantly owing to the presence of wide number of automotive companies that demand cantilever racks.
The major players in cantilever racks market include SSI SCHAEFER, Daifuku, Vanderlande, AK Material Handling Systems, Interroll Group, Dematic, FlexLink, Constructor Group AS, Fives Group, BEUMER Group, Groupe Legris Industries, DMW&H, Mecalux, Intelligrated, Murata Machinery, KNAPP, Swisslog, TGW Logistics Group, UNARCO, and Kardex Group.
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