According to Cognitive Market Research, the global Industrial Racking System market size will be USD 11558.5 million in 2024. It will expand at the compound annual growth rate (CAGR) of 6.00% from the year 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 4623.40 million in 2024 and will rise at the compound annual growth rate (CAGR) of 4.2% from the year 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3467.55 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2658.46 million in 2024 and will rise at the compound annual growth rate (CAGR) of 8.0% from the year 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 577.93 million in 2024 and will rise at the compound annual growth rate (CAGR) of 5.4% from the year 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 231.17 million in 2024 and will rise at the compound annual growth rate (CAGR) of 5.7% from the year 2024 to 2031.
The selective pallet racking system category is the fastest growing segment of the Industrial Racking System industry
