Retail Shelving System Market 2022
Retail shelving systems come in all shapes and sizes, from simple wall-mounted shelves to complex floor-to-ceiling racks. Retailers use shelving systems to organize and display merchandise in a way that is both aesthetically pleasing and functional. The right shelving system can make a big difference in the overall look and feel of a retail space, as well as how easy it is for customers to find and purchase products.
Global retail shelving system sales are set to be valued at over US$ 2 Bn in 2021, with steady long-term projections, according to latest insights by Persistence Market Research. The report estimates the market to expand at 8.8% CAGR from 2021 to 2031.
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There are many factors to consider when choosing a retail shelving system, including the type of merchandise being sold, the size of the space, and the budget. Here are a few of the most popular types of retail shelving systems on the market today:
Key Companies-
- Madix Inc.
- LA Darling
- Lozier Corp.
- Gondella
- Artitalia Group
- Donracks TMTE Metal Tech Pvt. ltd.
- CAEM
- Storflex
- Uniweb Inc
- KIDER (INDIA) PRIVATE LIMITED
- Accel Group Inc.
- Velca Racking Systems Pvt. Ltd.(*UAE)
- Handy Store Fixtures
- Sumetall (China) Shopfittings Limited
- Eren Çelik Ahap ve Metal Möble San. Tic. Ltd. ti.(rafturk)
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There are continuous developments in the market by manufacturers that keep moving it forward, such as:
- In Feb., 2021, Madix Inc. acquired Texas assets of Panel Processing, Inc., which is a partner to the company since a long time.
- In February 2020, the Gondela Corp. took part in EUROSHOP, which is proven to be the most important platform for world retail in terms of trends, inspiration, and networking.
- In October 2019, Artitalia Group opened a new warehousing facility in Ontario, California, to further complement its sophisticated supply chain.
Other happenings in the market include:
- Significant opportunities by FDI in India & GCC
- Increase in modern retail and supermarkets & hypermarkets
- Usage of augmented reality in retail shelving systems
Demand for retail shelving systems decreased in 2020 due to the COVID-19 pandemic, as sales networks at the consumer end switched primarily from offline to online. Not just 2020, but 2021 is ought to be affected by numerous factors such as socio-political changes happening worldwide. However, with a stimulus in many countries, the market’s long-term outlook looks very much optimistic.
Key Takeaways from Market Study
- Persistence Market Research predicts a healthy retail sector growth rate in economies such as Brazil, India, the Middle East, and Africa, thereby driving demand for retail shelving systems.
- With recent economic growth, per capita disposable income of consumers has increased, as a result of which consumers are able to spend more money on high-quality food products at retail outlets. This will profit the retail shelving system market over the coming years.
- Supermarkets & class A convenience stores to hold 2/5 of the market share.
- Light duty shelves are projected to hold over seven-tenth of the overall market share by 2031-end.
- The global market witnessed a slump in 2020 due to the COVID-19 pandemic, with a recorded growth of -1.3%.
- The market in GCC countries is projected to expand at a CAGR around 9%, while that in ASEAN at close to 10%, through 2031.
- The market in India and Germany is set to surge at 9% CAGR over the next ten years.
“With continued investments and expansions in the retail sector post Q1 2021, deployment of retail shelving systems is expected to increase at a profound rate,” says a Persistence Market Research analyst.
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