Pune, India, June 24, 2021 (GLOBE NEWSWIRE) -- The global industrial mezzanines market size is expected to showcase considerable growth by reaching USD 10.14 billion by 2028 while exhibiting a CAGR of 4.8% between 2021 and 2028. Fortune Business Insights published this information in its report, titled, “Industrial Mezzanines Market, 2021-2028.”, observes that the market stood at USD 7.08 billion in 2020. The rising e-commerce businesses and the implementation of optimum safety standards by government agencies regarding the safety of the workers will propel the adoption of advanced mezzanines across the globe.
COVID-19 has resulted in several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies globally, several manufacturing facilities have been at a standstill with limited operational activities. However, a collective effort from the government and the industries to bring the economy back is expected to boost the market growth during the forecast period.
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Market Segmentation:
Based on type, the market is divided into prefabricated, structured, free-standing, and perimeter. On the basis of number of storey, the market is segmented into single-level, multi-level. Based on the application, the market is classified into processing plants, industrial facilities and warehouses, distribution centers, retail stores, and office buildings.
- Based on the application, the retail store segment held a global industrial mezzanines market share of about 9.9% in 2020 and is likely to experience significant growth during the forecast period. This is owing to the increasing adoption of mezzanine floors across several retail stores and office buildings to improve space worldwide.
Lastly, based on the region, the market is classified into North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.
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What does the Report Provide?
The global market report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. The report further provides insights into the regional analysis covering different regions, contributing to the market growth. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point analysis to obtain information about the current trends and industry developments that will drive the market growth between 2021 and 2028.
DRIVING FACTORS
Rising E-commerce Industry to Augment Growth
The United Nations Conference on Trade and Development (UNCTAD) reported that Alibaba, a China-based e-commerce company, had a gross merchandise value (GMV) of USD 866.00 billion in 2018. Besides, in 2020, the prominent e-commerce company registered a GMV value of 6.59 trillion yuan. The exponential rise of e-commerce companies is expected to propel the demand for the product during the forecast period. These companies prefer maximum ceiling height for warehouses and large distribution centers, leading to a huge demand for mezzanines and their structural parts. Therefore, the rapidly growing e-commerce business globally is expected to contribute to the global industrial mezzanines market growth during the forecast period.
REGIONAL INSIGHTS
Asia-Pacific to Remain at Forefront; Increasing Demand from Retail Sector to Propel Growth
Among all the regions, Asia-Pacific is expected to hold the highest position in the market during the forecast period. This is ascribable to factors such as the growing demand for industrial mezzanines from the retail sector. Moreover, supportive government initiatives are providing the companies benefits to expand their business operations in countries such as India and China, leading to the rising number of warehouses in the region. Asia-Pacific stood at USD 2.79 billion in 2020.
The market in Europe is expected to showcase exponential growth during the forecast period. This is due to the presence of established companies such as Jungheinrich Ag, Schaefer Systems International, Inc., and Konvex Storage systems, S.L. that are highly focused on introducing advanced industrial mezzanine floors for their customers.
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COMPETITIVE LANDSCAPE
Prominent Companies Focus on Partnership to Brighten Their Market Prospects
The global market for industrial mezzanines is fragmented by the presence of major companies focusing on partnering with other companies to expand their product portfolio. Moreover, the adoption of strategies such as merger and acquisition, the introduction of new products, and facility expansion by other key players is expected to boost market growth in the forthcoming years.
Industry Development:
- January 2019 – Jungheinrich AG announced the acquisition of ISI Automation GmbH & Co. KG. The acquisition is aimed at expanding its product portfolio involving ERP and shop floors.
List of the Companies Operating in the Market:
- Mecalux, S.A. (Barcelona, Spain)
- Jungheinrich AG (Hamburg, Germany)
- Schaefer Systems International, Inc. (Neunkirchen (DE), Germany)
- MiTek Mezzanine Systems, Inc. (Cubic Design, Inc.) (Wisconsin, U.S)
- stow International (Spiere-Helkijn, Belgium)
- Stanley Black & Decker, Inc. (Stanley Vidmar) (Connecticut, U.S.)
- Equipto (Pennsylvania, U.S.)
- Steele Solutions Inc. (Wisconsin, U. S.)
- Cornerstone Specialty Wood Products, LLC (Ohio, U.S.)
- Gonvarri Material Handling (Madrid, Spain)
- Konvex Storage Systems, S.L. (Golmés, Spain)
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Table Of Content
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19 on Industrial Mezzanines Market
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Industrial Mezzanines Market Share Analysis and Matrix, 2020
- Key Market Insights
- Profiles of Key Players (Would be provided for 10 players only)
- 6.1. Overview
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- Key Management
- Headquarters etc.
- Offerings/Business Segments
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- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- List of Companies Profiled
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Annexure / Appendix
- Global Industrial Mezzanines Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Type (Value)
- Prefabricated Mezzanine
- Structural Mezzanine
- Free Standing Mezzanine
- Perimeter Mezzanine
- By Number of Storey (Value)
- Single - level
- Multi - level
- By Application (Value)
- Processing Plants
- Industrial Facilities & Warehouses
- Distribution Centers
- Retail Stores
- Office Buildings
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Type (Value)
- North America Industrial Mezzanines Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Type (Value)
- Prefabricated Mezzanine
- Structural Mezzanine
- Free Standing Mezzanine
- Perimeter Mezzanine
- By Number of Storey (Value)
- Single - level
- Multi - level
- By Application (Value)
- Processing Plants
- Industrial Facilities & Warehouses
- Distribution Centers
- Retail Stores
- Office Buildings
- By Country (Value)
- United States
- By Application
- Processing Plants
- Industrial Facilities & Warehouses
- Distribution Centers
- Retail Stores
- Office Buildings
- By Application
- United States
- By Type (Value)
- Global Industrial Mezzanines Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
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