Pallet Trucks Market: Global Industry Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics, Segmentation by Control Type, Type, Load Capacity, End Use, and Region.

Pallet Trucks Market was valued at US$ 3.8 Bn. in 2020. Global Pallet Trucks Market size is estimated to grow at a CAGR of 7.85 %.

Pallet Trucks Market Overview:

Pallet trucks are used for the industrial applications and machinery to provide efficient equipment operation and movement. Pallet trucks are commonly seen in warehouse, distribution center, retail stockroom, grocery store, or transportation operation. The rapid expansion of e-commerce industry and packaged food are expected to drive market growth for pallet trucks. E-commerce companies are expected to increase the number of warehouses and distribution centres to facilitate last mile delivery, which will lead to drive demand for pallet trucks during the forecast period. The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year however 2020’s numbers are on the real output of the companies in the market. Special attention is given to 2020, the effect of lockdown on the demand and supply, and the impact of lockdown for the next two years on the market. Pallet Trucks Market To know about the Research Methodology :- Request Free Sample Report

Pallet Trucks Market Dynamics:

The demand for material handling equipment to improve functional efficiency is one of the key drivers of the pallet trucks market. The utilization of pallet trucks to increase workplace safety and productivity are some of the factors that are reinforcing its adoption. The pallet trucks are widely used in warehouses for shipment of goods to facilitate movement and storage. Key players operating in the market are focusing on the proliferation of pallet trucks with technological advancements like automated guided vehicles are expected to boost the its adoption in near future. The boom in e-commerce is reforming the entire supply chain: Drive the production of Pallet Trucks. One of the major reasons that e-commerce penetration has been rising is its speed and convenience. An increase in numbers of businesses look to build their e-commerce stores or expand their existing footprint are expected to increase the demand for pallet trucks. E-commerce has transformed the way business. Increasing E-commerce and Internet connectivity with mobile communication are the main driving force of logistic industry which uses pallet trucks shifting of parcels. An innovation for new types of batteries drives the Electric Pallet Truck Battery Operated Pallet trucks are expected to drive the global pallet truck market because of cleaner performance and industries are adopting greener environment to reduce their pollution. Increasing industrialization and increasing production are demanding better material handling operation and warehousing. The hydraulic systems are incorporated in hand pallet trucks are increasing demand due to lesser effort work which will increase manual control pallet. Robotic arm and automated drive material handling system are expected to reduce manual operated pallet. The energy system plays a vital role in the electric pallet trucks, where charging and maintenance along with battery change take a lot of time. However, manufacturers are focusing to find substitute battery systems that offer quick charging and energy efficiency.

Pallet Trucks Market Segment Analysis:

The standard pallet trucks are expected to contribute more than 45% share in the market. It is widely preferred for logistic and warehouse because of its higher efficiency, low-cost maintenance, and easy repair features. Technology advancements like mapping and location navigation are expected to fuel the adoption of pallet trucks in the global market in the near future. Based on the Application, Pallet Trucks Market is segmented into food & beverage, retail stores, wholesale distribution, freight & logistics, manufacturing and others. Pallet trucks are handling equipment, which is designed to facilitate the operator's work when moving heavy, generally palletized loads. Hand pallet trucks are used in manufacturing and warehousing operations tend to endure extensive lift/lower cycles over time. It ensures better production efficiency and throughput. Demand for pallet trucks is depending on the growth of the warehousing and manufacturing industries. Rapid industrialization is expected to drive the demand for pallet trucks. Manufacturers are expected to spend larger amounts on purchase of pallet truck to ease operations within their manufacturing facilities because of the industrialization across developing countries like China and India.

Pallet Trucks Market Regional Insights:

Asia Pacific region is expected to hold the dominant position during the forecast period. The dominant position in the market is expected to attribute to the factors like rapid industrialization, presence of large population base and penetration of e-commers across the developing economies. In 2020, based on the number of the new trucks, the global market for material handling equipment grew by 9%, which was driven by demand in China. E-Commers Companies Are Forming Warehouses and Distribution Centres to Facilitate Last Mile Delivery in India The Indian E-commerce market is expected to grow to US$ 111.40 Bn by 2025. The country has a large consumer base for e-commers sector. Rising smartphone penetration, launch of 4G network and increasing consumer wealth are some of the prominent factors behind the market growth. With the rise in demand, E-commers companies are forming warehouses and distribution centres to facilitate last mile delivery in India. For instance, In2021, Flipkart has strengthened its grocery infrastructure to cater to customer safety and demand across India. The company is planning to further expand its fulfilment center capacity for grocery by over 8 lakh square feet across Delhi, Kolkata, Chennai, Coimbatore and Hyderabad. In Europe, the demand in pallet trucks remained low, the reason behind that was uncertainties in demand pattern against the backdrop of the spread of the COVID-19 pandemic. The objective of the report is to present a comprehensive analysis of the global Pallet Trucks Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Pallet Trucks Market dynamic, structure by analyzing the market segments and projecting the Pallet Trucks Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Pallet Trucks Market make the report investor’s guide.

Global Pallet Trucks Market Scope: Inquiry Before Buying

Pallet Trucks Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 3.7 Bn.
Forecast Period 2021 to 2027 CAGR: 7.85% Market Size in 2027: US $ 6.45 Bn.
Segments Covered: by Control Type • Manual • Semi Electric • Electric • Diesel • Compressed Natural Gas (CNG)
by Type • Standard • Quarter • Silent • Weighing • Scissor
by Load Capacity • Below 2000 KG • 2000-6000 KG • Above 6000 KG
by End-User • Food & Beverage • Retail Stores • Wholesale Distribution • Freight & Logistics • Manufacturing • Others

Global Pallet Trucks Market by Region

• North America • Europe • Asia Pacific • Latin America • The Middle East and Africa

Global Pallet Trucks Market Key Players

Rico Equipment • Godrej & Boyce Manufacturing Co. Ltd. • Uvundlu Investments Holdings (Pty) Ltd. • Hyster-Yale Materials Handling Inc. • Hyundai Heavy Industries Co. Ltd. • Jungheinrich AG • KION GROUP AG • Noveltek Industrial Manufacturing Inc. • Presto Lifts Inc. • Toyota Motor Corp. • Goscor Lift Trucks • Liftek FZC • Linde Material Handling • Thermote & Vanhalst Group • Nido Machineries Pvt Ltd • Nilkamal Limited • Pr Industrial S.r.l. • Presto Lifts Inc. • Sroka International Frequently Asked Questions: 1] What segments are covered in the Pallet Trucks Market report? Ans. The segments covered in the Pallet Trucks Market report are based on Technology and Application. 2] Which region is expected to hold the highest share in the Pallet Trucks Market? Ans. The Asia Pacific region is expected to hold the highest share in the Pallet Trucks Market. 3] What is the market size of the Pallet Trucks Market by 2027? Ans. The market size of the Pallet Trucks Market by 2027 is US$ 6.45 Bn. 4] What is the forecast period for the Pallet Trucks Market? Ans. The forecast period for the Pallet Trucks Market is 2020-2027. 5] What was the market size of the Pallet Trucks Market in 2020? Ans. The market size of the Pallet Trucks Market in 2020 was US$ 3.7 Bn.
1. Global Pallet Trucks Market Size: Research Methodology 2. Global Pallet Trucks Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Pallet Trucks Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Pallet Trucks Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Pallet Trucks Market Size Segmentation 4.1. Global Pallet Trucks Market Size, by Type (2020-2027) • Standard • Quarter • Silent • Weighing • Scissor 4.2. Global Pallet Trucks Market Size, by Load Capacity (2020-2027) • Below 2000 KG • 2000-6000 KG • Above 6000 KG 4.3. Global Pallet Trucks Market Size, by Control Type (2020-2027) • Manual • Semi Electric • Electric • Diesel • Compressed Natural Gas (CNG) 4.4. Global Pallet Trucks Market Size, by End-use Sector (2020-2027) • Food & Beverage • Retail Stores • Wholesale Distribution • Freight & Logistics • Manufacturing • Others 5. North America Pallet Trucks Market (2020-2027) 5.1. Global Pallet Trucks Market Size, by Type (2020-2027) • Standard • Quarter • Silent • Weighing • Scissor 5.2. Global Pallet Trucks Market Size, by Load Capacity (2020-2027) • Below 2000 KG • 2000-6000 KG • Above 6000 KG 5.3. Global Pallet Trucks Market Size, by Control Type (2020-2027) • Manual • Semi Electric • Electric • Diesel • Compressed Natural Gas (CNG) 5.4. Global Pallet Trucks Market Size, by End-use Sector (2020-2027) • Food & Beverage • Retail Stores • Wholesale Distribution • Freight & Logistics • Manufacturing • Others 5.5. North America Pallet Trucks Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Pallet Trucks Market (2020-2027) 6.1. European Pallet Trucks Market, by Type (2020-2027) 6.2. European Pallet Trucks Market, by Load Capacity (2020-2027) 6.3. European Pallet Trucks Market, by Control Type (2020-2027) 6.4. European Pallet Trucks Market, by End-use Sector (2020-2027) 6.5. European Pallet Trucks Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Pallet Trucks Market (2020-2027) 7.1. Asia Pacific Pallet Trucks Market, by Type (2020-2027) 7.2. Asia Pacific Pallet Trucks Market, by Load Capacity (2020-2027) 7.3. Asia Pacific Pallet Trucks Market, by Control Type (2020-2027) 7.4. Asia Pacific Pallet Trucks Market, by End-use Sector (2020-2027) 7.5. Asia Pacific Pallet Trucks Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Pallet Trucks Market (2020-2027) 8.1. The Middle East and Africa Pallet Trucks Market, by Type (2020-2027) 8.2. The Middle East and Africa Pallet Trucks Market, by Load Capacity (2020-2027) 8.3. The Middle East and Africa Pallet Trucks Market, by Control Type (2020-2027) 8.4. The Middle East and Africa Pallet Trucks Market, by End-use Sector (2020-2027) 8.5. The Middle East and Africa Pallet Trucks Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Pallet Trucks Market (2020-2027) 9.1. Latin America Pallet Trucks Market, by Type (2020-2027) 9.2. Latin America Pallet Trucks Market, by Load Capacity (2020-2027) 9.3. Latin America Pallet Trucks Market, by Control Type (2020-2027) 9.4. Latin America Pallet Trucks Market, by End-use Sector (2020-2027) 9.5. Latin America Pallet Trucks Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Rico Equipment 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Godrej & Boyce Manufacturing Co. Ltd. 10.3. Uvundlu Investments Holdings (Pty) Ltd. 10.4. Hyster-Yale Materials Handling Inc. 10.5. Hyundai Heavy Industries Co. Ltd. 10.6. Jungheinrich AG 10.7. KION GROUP AG 10.8. Noveltek Industrial Manufacturing Inc. 10.9. Presto Lifts Inc. 10.10. Toyota Motor Corp. 10.11. Goscor Lift Trucks 10.12. Liftek FZC 10.13. Linde Material Handling 10.14. Thermote & Vanhalst Group 10.15. Nido Machineries Pvt Ltd 10.16. Nilkamal Limited 10.17. Pr Industrial S.r.l. 10.18. Presto Lifts Inc. 10.19. Sroka International

About This Report

Report ID 71753
Category Automotive and Transportation
Published Date September 2020
Updated Date Jan 2022
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