North American Warehousing Market Booms with E-commerce and Cold Storage

Discover insights on North America's warehousing market trends, rental rates, and future outlook. Stay ahead with our comprehensive market report.
By: Makreo Research and Consulting
 
CALIFORNIA CITY, Calif. - Feb. 27, 2024 - PRLog -- The North American warehousing and storage market is experiencing steady growth, fueled by the booming e-commerce sector and the increasing need for temperature-controlled storage facilities. The United States dominates the market, with major players investing in advanced technologies to enhance efficiency and meet rising demand for cold storage solutions.

Market Overview:
  • The United States leads the North American warehousing market, followed by Canada.
  • Key players in the U.S. include DHL, AP Moller Maersk, Lineage Logistics, CJ Logistics America, and XPO Logistics.
  • The U.S. market reached USD 114 million in 2021, reflecting a 3.68% year-over-year increase.
  • Industrial rents continue to rise, with the national average in-place rent reaching USD 6.95 per square foot in October 2022.
  • The frozen food segment is expected to see the highest annual growth rate.
  • California boasts the largest gross warehouse capacity, followed by Washington, Wisconsin, Texas, and Florida.

Evolving Landscape:
  • While pandemic-driven demand for warehousing space has slowed, e-commerce remains a key driver.
  • Companies like Amazon are adjusting their warehousing strategies as e-commerce demand normalizes.
  • Retailers like Target, Walmart, and Nike are managing excess inventory.

Growth Drivers:
  • E-commerce Expansion: Rising online shopping necessitates more storage for inventory, fulfillment, and returns.
  • Supply Chain Optimization: Businesses are re-evaluating strategies for efficiency and resilience, potentially increasing demand for geographically diverse warehousing.
  • Technological Advancements: Automation, robotics, and warehouse management systems (WMS) are poised to improve efficiency, capacity, and reduce labor costs.
  • Shift towards 3PL Services: Businesses are outsourcing warehousing and logistics to third-party providers, driving demand for specialized facilities.
  • Urban Warehousing: Urbanization and faster delivery expectations are prompting the development of urban warehouses and micro-fulfillment centers.

Comprehensive Report Available:

Makreo Research's report, "North America Warehousing and Storage Market Size and Forecast (2020-2030) (https://www.makreo.com/report/north-america-warehousing-a...)" offers a detailed analysis of this rapidly evolving market. The report includes insights into:
  • Global and North American market performance
  • Warehousing market analysis in key countries
  • Past performance and future growth projections

This comprehensive report empowers stakeholders and industry professionals with valuable insights for strategic decision-making and market positioning.

Related Reports:
Asia-Pacific Warehousing and Storage Market Size and Forecast (2020-2030) (https://www.makreo.com/report/asia-pacific-warehousing-an...)


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