The report of Pallet Trucks Market 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-Use (Food & Beverage, Retail Stores, Wholesale Distribution, Freight & Logistics, Manufacturing, Others) and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ XX Mn by 2027, at a CAGR of 7% during a forecast period.
Pallet trucks are used in manufacturing and processing industries for handling and moving goods and other items. Logistics and transportation hub, warehouses, factories, and manufacturing shop floor. Manual Operated Trucks are smaller type of forklift. Hydraulic system and electric system are leading in advancement of Pallet Trucks market. Electric pallet trucks can be used in closed areas such as shop floor.
Increasing E-commerce and Internet connectivity with mobile communication are the main driving force of logistic industry which uses Pallet Trucks shifting of parcels. Also, this rising market of retail sector changing dynamics of warehouse & Material Handling is driving pallet truck demand.
Manual type pallet trucks are larger in volume due to its compactness and easy to operate nature. Electric Pallet trucks are expected to grow with the advancement of fast charging technology and clean operating and that will increase Global Pallet Trucks market.
Increasing logistic market with increase in e-commerce market will drive market of global Pallet Trucks. Battery Operated Pallet trucks are expected to drive the Global Pallet truck market due to 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.
Asia Pacific region is expected to show tremendous growth in industrial sector in the forecasted years, due to its increasing population and emerging economies like India, China and South Korea showing growth in Global Pallet Truck market.
Europe and North American regions are showing significant growth in Pallet truck market and they are likely to gain traction in the forecasted years. Electric Pallet Truck segment is growing in these regions. Middle East & Africa shows slow and steady growth in the forecasted year.
Key players operating in the Pallet Trucks Market are Toyota Industries, KION Group, Jungheingrich, Goscor Lift Trucks, Hyster Company, Hyundai Heavy Industries, Liftek FZC, Linde Material Handling, Thermote & Vanhalst Group, Nido Machineries Pvt Ltd, Nilkamal Limited, Pr Industrial S.r.l., Presto Lifts Inc.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Pallet Trucks Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Pallet Trucks Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explains Pallet Trucks Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Pallet Trucks Market.”
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