Fort Collins, Colorado, Sept. 13, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Modular Shelving System Market Size, Share, Trends, Growth, Statistics Analysis Report, By Industrial Modular Shelf Type (Bolt Together Style, Clip Together Style, Rivet Rack Style, Wide Span Style), By End-User (Residential, Industrial), By Region And Segment Forecasts, 2023-2032."
According to DataHorizzon Research, the modular shelving systems market is anticipated to witness healthy growth over the forecast period. The demand for modular shelving is boosted due to the flexibility these shelves offer. These shelves are available in different parts that can be assembled as per the user's requirement. Available in several color, and sizes for residential purposes to match the interiors and aesthetics of the room, modular shelves have scored higher in the consumer market making them a preferred storage option at homes.
Due to the growing inventory management and space optimization, the modular shelving systems industry is projected to grow during the forecast period. Companies are nowadays focused on maintaining minimum inventory levels and actively implementing the just-in-time system. This increases demand for flexible but sturdy storage racks, and modular shelves fulfill these requirements, making them a preferred choice in industries.
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Report Snapshot:
| Report Title | Modular Shelving System Market |
| Largest Market | Asia Pacific |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market size, market estimations, competitor analysis, trends, and growth factors |
| By Industrial Modular Shelf Type | Bolt together style, clip together style, rivet rack style, and wide span style |
| By End-user | Residential and industrial |
| By Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others |
| Major Market Players | Madix, Ikea, Steel King, Husky Rack and Wire, Ridg-U-Rak, Unarco Material Handling Inc., Hannibal Industries, Vitsoe, Mandai Design, BrickBox and others. |
Segmentation Overview:
The global modular shelving systems market has been segmented based on shelf type, end-use, and region. Bolt-together shelves hold a major share in the shelf style segment as these shelves are strong enough to store objects and are suitable for use for both residential and industrial purposes. Modular shelves are majorly used for residential purposes as they come in both steel and wooden material, in different colors and designs that add to the beauty and aesthetic of the room.
Asia Pacific accounts for a major share in the modular shelving system market due to growth in the housing market. With shrinking sizes of houses, people prefer modular shelves over fixed furniture as they can use it as and when needed instead of blocking up a large space. Also, the demand for modular shelves is expected to grow due to rapid industrial development. North America holds a significant share of owing to the demand for better storage and decorative purposes for home.
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Key Developments in the Industry:
- In March 2023, Masterack launched new custom-based folding shelves that offers compact storage options. These shelves are easy to install and manufactured considering the last mile delivery van they can install them while going out for delivery purposes.
- Interior designs have been shaping the industry dynamics in 2023. Amongst all the designs that are trending in 2023, biophilic design grabs the center stage. Biophilic design emphasizes the use of natural elements, wood, wool, and stone for furniture products.
Modular Shelving Systems Market Report Highlights:
- The Modular Shelving Systems market is projected to attain double-digit growth by 2032.
- Bolt-together shelves leads the shelf type segment as shelves are strong enough to store heavy objects which makes it suitable to use for industrial purpose and also at warehouses.
- Residential use dominates the end-user segment as modular shelves for residential purpose are easy to carry and also adds to the house's beauty and helps display artifacts.
- Based on region, Asia Pacific dominates the modular shelving systems industry due to the growing industries that also lead to the growing demand for good storage racks. Also, the demand for these shelves is expected to increase due to rising housing needs and demand for beautiful and light interiors.
- Some of the prominent players in the Modular Shelving Systems industry include Madix, Ikea, Steel King, Husky Rack and Wire, Ridg-U-Rak, Unarco Material Handling Inc., Hannibal Industries, Vitsoe, Mandai Design, BrickBox and others.
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Modular Shelving Systems Market Segmentation:
Modular Shelving Systems Market, By Shelf Type (2023-2032)
- Bolt together style
- Clip together style
- Rivet rack style
Modular Shelving Systems Market, By End-Use (2023-2032)
- Residential
- Industrial
Modular Shelving Systems Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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