Latest TMR Report Explores Impact of COVID-19 Outbreak on Racks and Frames Market

Racks and Frames: Introduction

Racks and frames are a basic metallic tool used to store a wide array of materials and objects. It consists of two or more upright beams and connectors which are assembled by welding, bolting, or clipping.

Major players across the globe are introducing racks and frames with better engineering techniques that helps users to store maximum number of products. This is likely to gain demand for racks and frames in the coming years.
Increasing Demand for Storage Facilities
Increasing demand for storage facilities is likely to drive demand for racks and frames across the globe.

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Rapid growth in urbanization is influencing the growth of residential construction, which influences the demand for racks and frames. End-users seek storage facilities in order to store their products in a systematic manner. This is expected to increase the demand for racks and frames. Racks and frames are multipurpose units, helping to place a wide range of objects such as documents, e-devices, inventory stocks, and other materials. In addition, increasing number of commercial and industrial facilities across the globe is promoting the growth of the racks and frames market.

Presence of Alternate Solutions: A Key Restraint
Rising usage of storage pallets in the industrial sector is likely to impact the growth of the racks and frames market. Rising popularity of residential and commercial cabinets is expected to restrain the growth of the racks and frames market. Increasing cost of raw materials to manufacture racks and frames is also a major reason influencing end-users to opt for alternative solutions and slow down the growth of the market. In addition, rising challenges of the pandemic situation due to COVID-19 across the globe is restraining the growth of the racks and frames market.

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Asia Pacific a Potential Market for Racks and Frames

The global racks and frames market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)

North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the racks and frames market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific comprises India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes GCC, South Africa, and Rest of Middle East & Africa. The racks and frames market in South America has been segmented into Brazil and Rest of South America.
Asia Pacific is expected to remain a potential market for racks and frames during the forecast period, owing to the rising demand for storage facilities in the past few years in the region.

Key Players Operating in the Global Racks and Frames Market

The global racks and frames market is fragmented in nature, due to presence of a large number of global and regional players. A few of the key players operating in the global racks and frames market are listed below:

Aceally (International) Co., Ltd.
Aracking & Shelving Solutions
Eino Products
F&F Industries, Inc.
Global Furniture Group
Global Industrial
Gonvarri Material Handling
Groves Incorporated
Interlake Mecalux
Shanghai Maxrac Storage Equipment Engineering Co., Ltd.
Steel King Industries, Inc.

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This release was published on openPR.