2023 Global Display Rack Industry Market Size and Future Trend Analysis
2023 Global Display Rack Industry Market Size and Future Trend Analysis
In recent years, the Global display rack industry has experienced rapid development. With the improvement of people's living standards and increasing demands for decoration, the industry has found new growth opportunities.
By 2023, the Global display rack industry's market size is expected to reach $7.33 billion, compared to $5.11 billion in 2017, indicating a growth rate of 7.7%, with an increase of $1.22 billion.
The Global display rack industry is in a developmental phase, and the market size and market share of display racks vary in different regions. Based on market share, the United States holds a higher share of the global display rack industry, reaching 18.2% in 2017, and is expected to reach 20.6% by 2023. Europe's market share is approximately 14.4%, while East Asia's market share is expected to reach 45.1%.
As the Display rack industry evolves, the types of display racks continue to diversify, including hanging display racks, custom display racks, wall-mounted display racks, and more. Based on market share, hanging display racks account for the largest share, at 32.7%, and are projected to increase to 37.5% from 2017 to 2023. custom display racks hold a market share of approximately 25.3%, and are expected to reach 26.9%. Wall-mounted display racks have a lower market share, at around 0.3%, and are expected to reach 0.7%.
Furthermore, the Global display rack market is influenced by technological innovations. Many companies are developing new technologies to enhance the usability of display rack products, such as embedded measurement devices and optical recognition technology for automatic tracking. The introduction of new technologies, like smart display screens, is also contributing to the gradual expansion of the display rack industry's market size.
Looking ahead, the Global display rack industry is expected to maintain its strong growth momentum, with the market size reaching $7.33 billion in 2023. The industry will continue to introduce new products, providing customers with even more appealing options. New technologies will also emerge, further expanding the industry's development, thereby unlocking the full potential and prospects for the display rack market.
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