The Best Growth of Warehouse Companies In India

Until a decade ago, the word ‘Warehouse’ was interpreted as a dingy place with incomplete structures situated in the outskirts of a city. It was looked down on as just storage space and with no proper amenities. In the new age, in the year 2021, the term ‘warehouse’ has earned a new identity. It is no more a dingy place, but a prime real estate asset contributing to the logistics sector of India. This part of real estate is priced well enough to give birth to many warehouse companies in India.

As per the “Warehousing market in India 2020” report by Business Wire, the warehousing market in India was estimated to be around INR 1,501.2 billion in the year 2019. This figure is expected to reach INR 2,821.1 billion by the year 2024. Post-covid, the warehousing market has boomed because of the increased storage needs by warehouse manufacturers. Warehouses are now highly sought-after commercial spaces of real estate assets. 

 

warehouse manufacturers
Warehouse Manufacturers

SEGMENTING THE INDIAN WAREHOUSING MARKET

The warehousing market is sub-divided into these four major segments namely:

1.      Industrial or retail warehousing

2.      Container freight station or inland container depot

3.      Agricultural warehousing

4.      Cold storage

KEY FACTORS INFLUENCING THE GROWTH OF THE WAREHOUSING SECTOR

·         BOOM IN THE E-COMMERCE SECTOR

If there is one sector that has greatly benefitted from citizens being forced to stay in their homes. It is the e-commerce industry. The pandemic brought a change in the purchasing behavior of people as more people began to take interest in online shopping. Grocery, clothing, home essentials, food, medicines, and so muc more could be easily delivered to their doorstep at the click of a button. To keep the supply chain smooth, the e-commerce industry increased its stock of inventory for which warehouses were needed. Many warehouse manufactures were seen developing and delivering warehouses within days to meet the surge in demand. 


·         WAREHOUSE AUTOMATION

Now that more warehouses had come up, there was a need for manpower to handle operations. But the pandemic kept people confined to their homes making companies adapt to newer ways for technology, especially for the complete automation of warehouses.

·         INCREASE IN THE SIZE OF CARGO CONTAINERS

To reduce delivery timelines and meet greater demands, the size of a cargo container has increased potentially up to 5 times the size it was originally intended to be. Huge container having increased capacity has enabled larger movement of cargo to all parts of the country. 


·         INTEREST IN INVESTING IN WAREHOUSING

More warehouse manufacturers and businesses are taking interest in investing in the warehousing sector. The economy has depreciated the value of residential and commercial real-estate spaces but not in industrial and warehousing real estate spaces. Factors like 100% FDI and safer returns have also spiked the interest of warehousing companies in India.

·         MAKE IN INDIA MANUFACTURING BOOST

The biggest influence in the warehousing sector has to be the Make In India move. India is on its way to becoming a self-reliant economy that also caters to global businesses’ manufacturing systems offering affordable labor and friendly business policies. This has led to a boost in the industrial and warehousing segment and a rise in the warehousing manufacturers in India. 

CONCLUSION

All necessary factors and elements for the warehousing sector in India have fallen into place. The time has come for India to transform ugly spaces into state-of-the-art warehouses having the best of systems incorporated into them. If you are a business looking to invest in a warehouse or are interested in knowing more about how the warehouse industry works, connect with us at https://www.hrsinfrastructure.com/.


Ref link - https://hrsinfrastructure.wordpress.com/2021/12/10/growth-of-warehouse-companies-in-india/

  

 

Location: India

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