Refrigerated Warehousing And Storage Global Market Report 2021: COVID-19 Impact And Recovery
The Business Research Company’s Refrigerated Warehousing And Storage Global Market Report 2021 – COVID-19 Impact and Recovery
LONDON, GREATER LONDON, UK, October 14, 2021 /EINPresswire.com/ — Warehouses are increasingly using mobile technologies to efficiently monitor warehouse operations. Mobile technology involves the 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.
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.
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The global refrigerated warehousing and storage market size 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%.
Major players covered in the global refrigerated warehousing and storage industry are Americold Logistics, Lineage Logistics, Preferred Freezer Services, John Swire, Agro Merchants.
TBRC’s global refrigerated warehousing and storage market report is segmented by type into cold storage, frozen storage, by application into fruits & vegetables, bakery & confectionery, milk & dairy products, meat, seafood, beverages, others.
Refrigerated Warehousing And Storage Global Market Report 2021 – By Type (Cold Storage, Frozen Storage), By Application (Fruits & Vegetables, Bakery & Confectionery, Milk & Dairy Products, Meat, Seafood, Beverages), COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides refrigerated warehousing and storage market overview, forecast refrigerated warehousing and storage market size and growth for the whole market, refrigerated warehousing and storage market segments, and geographies, refrigerated warehousing and storage market trends, refrigerated warehousing and storage market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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