DELHI, INDIA, March 15, 2023 /
EINPresswire.com/ -- The latest report by IMARC, titled “Indian Warehouse Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that The
Indian warehouse market size reached INR 1,248 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 2,271 Billion by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028.
A warehouse is a large commercial establishment used for the storage and distribution of goods and products. It is usually a large, unheated, or partially heated building filled with racks, shelves, or pallets to store goods. It is specifically designed to hold large amounts of inventory and is utilized by manufacturers, distributors, wholesalers, importers, and retailers. It serves as a hub for the movement of goods between production, distribution, and retail. It is often used to store goods that are ready for sale or that need to be transported to another location for further processing or distribution. It is also commonly adopted as a storage area for finished goods, raw materials, or components that are needed for production. It is often utilized for value-added services, such as product assembly, packaging, and shipping.
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Indian Warehouse Market Trends:
The rapid expansion of the e-commerce sector majorly drives the market in India. Along with this, the growing use of warehouses to make products available to the end user when needed and ensure the production process continues is driving the growth of the market. Additionally, the increasing export and import cargo activities due to globalization, as well as the introduction of government subsidies that enable service providers to offer innovative solutions, are also stimulating the demand for warehouses. Besides this, the escalating demand for efficient delivery services is rising due to the growing number of online sales and purchases, prompting the logistics sector to incorporate digital technologies into their warehouses. Furthermore, the implementation of automation and robotics to enhance warehouse efficiency and operations is creating a positive market outlook. Some of the other factors driving the market include the advent of the omnichannel retailing model and rapid industrialization.
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Key Market Segmentation:
Sector Insights:
• Industrial Warehouses
• Agricultural Warehouses
Ownership Insights:
• Private Warehouses
• Public Warehouses
• Bonded Warehouses
Type of Commodities Stored Insights:
• General Warehouses
• Speciality Warehouses
• Refrigerated Warehouses
Breakup by Region:
• North India
• West and Central India
• South India
• East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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