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Refrigerated Warehousing And Storage Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Refrigerated Warehousing And Storage Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • February 2021
  • 300 pages
  • ID: 6025335
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the refrigerated warehousing and storage market include Americold Logistics; Lineage Logistics; Preferred Freezer Services; John Swire and Agro Merchants.

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 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. The market is expected to reach $164.11 billion in 2025 at a CAGR of 9%.

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. The refrigerated warehousing and storage market is segmented into cold storage and frozen storage.

Asia Pacific was the largest region in the global refrigerated warehousing and storage market, accounting for 34% of the market in 2020. North America was the second largest region accounting for 26% of the global refrigerated warehousing and storage market. Africa was the smallest region 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. According to a report by MHI, a material handling, logistics and supply chain association, 22% of the respondents use mobile technologies in warehouses and the adoption rate is expected to reach 45% in next two years.

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