New York, May 25, 2023 (GLOBE NEWSWIRE) -- The Global Retail Shelving System Market is expected to reach a value of US$ 5.62 Billion by 2033, growing at a CAGR of 8.8% during the forecast period. The growth of the market is driven by the increasing demand for efficient and aesthetically pleasing shelving systems in the retail industry. The rising popularity of online shopping is also driving the growth of the market, as retailers are increasingly looking for ways to improve the in-store shopping experience.
The global retail shelving system market has experienced significant growth in recent years. The increasing number of retail stores, supermarkets, and hypermarkets, coupled with the growing emphasis on visual merchandising, are driving the demand for efficient shelving systems. Additionally, the rising trend of organized retailing, especially in emerging economies, is further propelling market growth.
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The retail shelving system market plays a crucial role in the efficient organization and display of products in retail stores. It offers an effective solution for retailers to maximize their available space, improve product visibility, and enhance the overall shopping experience for customers. This research report aims to provide a comprehensive analysis of the retail shelving system market, including market trends, growth drivers, challenges, and key players.
The research report is based on a combination of primary and secondary research. Primary research involved conducting interviews and surveys with industry experts, including retail shelving system manufacturers, distributors, and retailers. Secondary research involved analyzing various industry sources such as reports, articles, and databases to gather relevant data and information.
Market Drivers
- Increasing demand for efficient and aesthetically pleasing shelving systems
- Rising popularity of online shopping
- Increasing demand for sustainable retail solutions
- Growing adoption of modular shelving systems
- Increasing focus on customer experience
Market Trends
- Increasing demand for customized shelving systems
- Growing adoption of digital signage
- Increasing focus on safety and security
- Growing demand for RFID-enabled shelving systems
Market Challenges
- High initial cost of installation
- Intense competition among market players
- Rapidly changing consumer preferences
- Technical limitations of certain shelving systems
- Environmental concerns related to material usage
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Market Players
The key players in the global retail shelving system market are:
- Lozier
- Madix
- Artitalia Group
- Streater LLC
- Trion Industries
- InterMetro Industries
- Meubles et Equipements pour Magasins (MEM)
- Stellar Industries
- Accuride International
- Beacon Manufacturing
Recent Developments:
some recent developments for companies with year on Retail Shelving System Market:
- Lozier launched its new modular shelving system in 2022. The system is designed to be easy to install and maintain, and is available in a variety of sizes and styles.
- Madix introduced its new line of sustainable shelving systems in 2022. The systems are made from recycled materials, and are designed to reduce the environmental impact of retail stores.
- Artitalia Group launched its new line of high-end shelving systems in 2022. The systems are made from high-quality materials and are available in a variety of finishes.
- Streater LLC introduced its new line of mobile shelving systems in 2022. The systems are easy to move and can be configured in a variety of ways.
Market Segmentation:
The global retail shelving system market is segmented by type, application, and region.
By type: The market is segmented into metal shelving systems, wood shelving systems, and others. Metal shelving systems are the most popular type of shelving system, as they are strong and durable. Wood shelving systems are less popular than metal shelving systems, but they are more aesthetically pleasing. Others include plastic shelving systems and glass shelving systems.
By application: The market is segmented into department stores, grocery stores, hypermarkets and supermarkets, pharmacies, and others. Department stores are the largest application segment, as they require a large number of shelving systems to display a wide variety of products. Grocery stores are the second largest application segment, as they require a large number of shelving systems to display food and other household items. Hypermarkets and supermarkets are the third largest application segment, as they require a large number of shelving systems to display a wide variety of products at discounted prices. Pharmacies are the fourth largest application segment, as they require a large number of shelving systems to display a wide variety of medications and other healthcare products. Others include clothing stores, electronics stores, and home improvement stores.
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By region: The market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for retail shelving systems, followed by Europe and Asia Pacific. The growth of the market in North America is driven by the increasing demand for efficient and aesthetically pleasing shelving systems in the retail industry. The growth of the market in Europe is driven by the rising popularity of online shopping and the increasing demand for sustainable retail solutions. The growth of the market in Asia Pacific is driven by the rising disposable incomes of consumers and the increasing urbanization in the region.
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