LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global customized green warehouse facility market for the chemical industry provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global customized green warehouse facility market for the chemical industry will grow at a CAGR of over 3% during the forecast period. The increasing demand for cost-effective warehousing is a major factor driving the market’s growth.
The increase in the energy cost is driving various chemical companies toward more sustainable business operations. The energy use is being cut down by cost-effective and sustainable warehouse operations. The combined use of green practices and smart technology is adapted to save energy cost. For instance, the use of a motor-driven roller conveyor equipped with a sensor is one of the green strategies adopted by warehousing facilities or distribution centers. The conveyor sensors ensure that the conveyor belt starts moving when the product is in proximity and stops when the product passes. This makes sure that the conveyors do not run unless there is a product on it, thereby saving energy.
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In this report, Technavio highlights the increased use of IoT and technology in warehousing as one of the key emerging trends driving the global customized green warehouse facility market for the chemical industry:
Increased use of IoT and technology in warehousing
The increased use of technology is extending the green supply chain benefits to the warehousing service providers. The vendors provide tools and techniques for automating business process areas, integrating cross-functional business process components, and effectively identifying, tracking, quantifying, and reporting on various sustainability drivers. The IoT involves the use of sensors and robotic systems in warehousing facilities. The analytics tools are used to process data in the most productive, efficient, convenient, and safe ways.
“The use of battery-driven or automated guided vehicles, automated conveyor belts, RFID enabled tags, AS systems and WMS will make warehousing operations lean and result in cost savings. For instance, to store the same volume of products the warehouses that are equipped with AS systems use around 40% lesser space,” says a senior analyst at Technavio for research on warehouse and storage.
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Global customized green warehouse facility market for the chemical industry – segmentation analysis
This market research report segments the global customized green warehouse facility market for the chemical industry into the following applications (temperature-controlled warehousing and no temperature-controlled warehousing) and key regions (the Americas, APAC, and EMEA).
In 2017, EMEA dominated the global customized green warehouse facility market for the chemical industry, by accounting for a market share of close to 37%. It was followed by the Americas and APAC. The EMEA region is expected to witness steady growth during the forecast period.
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