Global Pallet Trucks Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
15 May, 2023
The global pallet trucks market size is expected to grow from $36.16 billion in 2022 to $39.11 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global pallet trucks market size is expected to grow to $52.31 billion in 2027 at a CAGR of 7.5%.
Global Pallet Trucks Market Key Driver
The growing e-commerce usage across the globe is expected to propel the growth of the pallet truck market forward. E-commerce refers to the process of selling products and services over the internet. E-commerce businesses or enterprises primarily store goods and products in warehouses and stockrooms that use pallet jacks to transport high or low-weighed goods from one location to another over short distances for the preparation and dispatch of product orders. The growth of e-commerce is altering the entire supply chain ultimately increasing the demand for pallet trucks.
Get a Sample of the global pallet trucks market reportGlobal Pallet Trucks Market Segments
The global pallet trucks market is segmented:
1) By Product Type: Standard, Quarter, Silent, Weighing, Scissor
2) By Load Capacity: Below 2000 Kg, 2000 – 4000 Kg, 4000 – 6000 Kg, Above 6000 Kg
3) By Control: Manual, Semi-Electric, Electric, Diesel, Compressed Natural Gas (CNG)
4) By End Use Industry: Food And Beverages, Retail Stores, Wholesale Distributions, Freight And Logistics, Manufacturing, Other End Use Industries
5) By Geography: The regions covered in the pallet trucks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global pallet trucks market.
Major Pallet Trucks Industry Players
Jungheinrich AG, Crown Equipment Corporation, Hyster Company, Kion Group, Toyota Industries Corporation, Hyundai Heavy Industries, Godrej & Boyce Mfg. Co. Ltd., Nilkamal Limited, PR Industrial S.R.L.
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Pallet Trucks Market Overview
A pallet truck refers to a tool or a wheeled trolley specially designed to lift and transport pallets. A pallet truck is used in industrial material handling and movement procedures, mostly for transporting goods within the warehouse.
Pallet Trucks Global Market Report 2023 provides data on the global pallet trucks market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The pallet trucks market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.