1. Market size of display racks
Anyone who knows the display rack industry knows that display racks have developed rapidly in recent years. With the development of the economy and the improvement of people’s quality of life, the requirements for decorative items are getting higher and higher. This undoubtedly brings new growth points to the display rack industry and promotes its development.
The development of the display rack industry in different countries and regions is different, and there are also certain differences in market size and market share. Data shows that the United States is the country with a higher share of the global display rack industry, reaching 18.2% in 2017 and is expected to reach 20.6% by 2023. The European market share is approximately 14.4%, and the East Asian market share is expected to reach 45.1%.
As the times advance and the economy develops, we can see that there are more and more types of display racks, and there are also different types, such as hanging decorative display racks, physical display racks, wall-mounted display racks, etc. According to data, the hanging decorative display rack industry is the largest, accounting for 32.7%. The market share will increase from 2017 to 2023, and is expected to reach 37.5%. The market share of physical display racks is approximately 25.3% and is expected to reach 26.9%. The market share of wall display racks is relatively low, about 0.3%, and is expected to reach 0.7%.
2. Speed statistics of global display rack industry market size
According to statistics released by market participants, the overall market size of the global display rack industry was US$81 billion in 2019, a year-on-year increase of 7.7%. By 2020, with the further development of online retail transactions, the global display rack industry market size may reach US$87.5 billion, with a net growth rate of approximately 8.2%. From 2019 to 2023, the global display rack industry market size is expected to continue to grow, and the market size may reach US$116.8 billion by 2023, with a net growth rate of more than 18%.
3. Development prospects and trends of the global display rack industry
Judging from the development trend of global market scale, the development prospects of the global display rack industry are full of hope. First of all, the global display rack industry is at a trough, and the future development and growth trend is promising. Secondly, different countries will increase investment in the global display rack industry to meet market demand and promote industry development to a greater extent. In addition, more and more e-commerce companies are frequently launching new products on the market, requiring a large number of display racks to meet online transactions, which will also create more sales opportunities for display rack manufacturers.
Overall, the prospects for display racks are good because they cover a wide range of applications. Whether it is the jewelry industry, supermarkets, clothing, food, ceramic tiles, etc., they all need display racks. Display racks are everywhere in our lives. If you happen to need it, you can contact us to customize a display stand for your product.
Original Source: https://www.youlianzsdisplay.com/news/global-display-rack-industry-market-size-speed-statistics-and-prospect-trend-analysis-in-2023/
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