The global industrial mezzanines market size is projected to reach USD 9.43 billion by 2026, exhibiting a CAGR of 4.6% during the forecast period. Exceptional growth of the e-commerce industry in recent years is propelling the progress of this market, according to the new Fortune Business Insights™ report, titled “Industrial Mezzanines Market” Size, Share & Industry Analysis, By Type (Prefabricated, Structured, Free-standing, Perimeter), By Number of Storey (Single – level, Multi – level) By Application (Processing Plants, Industrial Facilities and Warehouse, Distribution Center, Retails Stores, Office buildings), and Regional Forecast, 2019-2026”. The United Nations Conference on Trade and Development (UNCTAD) estimates that in 2017 e-commerce sales surged at a prolific rate of 13%, touching approximately USD 29 trillion in terms of value. During the same period, the UNCTAD notes, the number of online shoppers shot up sharply by 12%, covering around 1.3 billion across the globe. Skyrocketing sales in the e-commerce industry are leading the industrial mezzanines market trends as widening utilization of e-commerce platforms such as Amazon is creating tremendous demand for superior warehousing facilities and distribution centers, where mezzanine floors play a vital role.
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As per the report, the value of this market stood at USD 6.59 billion in 2018. Additionally, the report shares the following information:
- Microscopic study of the all the possible market segments;
- Comprehensive analysis of the key market players and their dominant strategies;
- Exhaustive research into the market drivers, trends, and restraints; and
- Detailed assessment of the regional developments influencing the growth of the market.
Rising Popularity of Mezzanine Floors to Boost Adoption
The industrial mezzanines market growth is based on the plethora of advantages offered by these structures to businesses. For example, mezzanine floors provide a cost-efficient way of optimally utilizing the available space in a facility without having to move or modify the location of one’s operation. These structures are cost-effective as they require minimal installation time and can be easily transported. Furthermore, mezzanine floors are conveniently portable; in case an organization decides to relocate, it need not spend additional resources for new storage equipment. Another unique benefit of this equipment is that due to its high depreciation rate, it can have certain tax advantages. In sum, the broad flexibility of space offered by mezzanine floors is fueling their uptake in industries where warehousing and distribution operations form an integral business component.
Gain More Insights on the Market Research Report https://www.fortunebusinessinsights.com/industrial-mezzanines-market-102688
Asia-Pacific to Hold Lion’s Share in the Market; North America to Register Stable Growth Rate
Having generated USD 2.60 billion in revenue in 2018, Asia-Pacific is poised to dominate the market share for industrial mezzanines, in the forthcoming years. This can be ascribed to the increasing demand from manufacturers in the region for industrial equipment with international certifications such as ISO. Besides this, industrial activity in countries such as India and China is intensifying at a furious pace, which is consequently raising the demand for effective storage tools in the region.
In North America, the key growth drivers include the rising adoption of free-standing mezzanine floors by manufacturers and the strong presence of e-commerce and retail giants such as Amazon and Walmart. The market in Europe, on the other hand, is mainly propelled by the stringent workplace safety regulations imposed by the European Union.
Development of Cost-Saving Products to be the Central Focus of Market Players
According to the industrial mezzanines market analysis, key companies in this market are fully focused on designing and developing solutions that are cost-effective and space-efficient. The purpose behind this strategy is for these companies to expand their footprint in the market as well as broaden their reach globally.
- December 2019: Mecalux, the US-based warehousing specialist, installed a mezzanine floor in the Almenara Mall shopping center in Uruguay. The structure is engineered to increase storage space five-fold, thereby saving substantial amount of floor and logistics expenses.
- March 2019: The Belgium-based company stow Group teamed up with Averys Service to launch the company’s latest smart solution, the stow Atlas Connect. The product is designed to reduce the total cost of ownership and optimize uptimes by ensuring superior pallet performance through software upgrades and preventive and corrective maintenance.
List of Companies Covered in the Industrial Mezzanines Market Report:
- Shanghai Maxrac Storage Equipment Engineering co., ltd.
- Noordrek GmbH
- SSI Schaefer
- Mecalux, S.A.
- Jungheinrich AG
- Konvex Storage Systems
- Kepler Entreplantas Desmontables
- Stanley Vidmar
- stow Group
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