Effective maneuverability and value added in material handling operations are primary attributes of pallet trucks, which have led their widespread employment across logistics and industrial workplaces. Pallet trucks and relevant advancements are considered as prime solution in the digital age, with optimum turnaround times of delivering orders becoming a differentiating parameter. Ergonomic handling and robust design of pallet trucks are further complementing their adoption in every warehouse, manufacturing plant, and retail store.
Prospects of the pallet trucks market continue to be positive, according to a recent Fact.MR study that estimates global sales of pallet trucks to bring in approximately US$ 1,400 Mn by 2028-end. Constantly increasing need for shipping new products & orders, coupled with increased operator convenience offered by pallet in safe & smooth pulling heavy loads will augur well for future expansion of the market.
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The study has envisaged North America to lead the pallet trucks market, driven by increasing warehousing space that has influenced real estate, supply chains, and technology advancements in material handling since the recent past. Most companies in North America are focusing on the implementation of warehouse management system, in a bid to be more efficient and effective in ecommerce and beyond. This will spur demand for critical material handling machinery such as pallet trucks in the region.
In Europe, projects are underway regarding the development of autonomous pallet jacks and forklift trucks, for operating abreast human workers in manufacturing facilities. Popular as automatic guided vehicles (AGVs), autonomous pallet trucks being developed will facilitate packing, palletizing, and transporting goods with minimal operator intervention. Such development efforts will impact future growth of the pallet trucks market in Europe.
Pallet Trucks Market: Electric Pallet Trucks Spearhead with Hydraulic Counterparts on the Trail
Ever-growing development of the electric and hydraulic technology is currently leading the pallet truck advancements beyond transportation of heavy goods toward prevention of musculoskeletal injuries in the material handling industry. According to the study, electric technology will remain at the forefront of the pallet trucks market, trailed by the hydraulic technology.
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Modern day pallet trucks, through combination of electric and hydraulic technology, are being motorized for enabling effective lifting & transportation of heavy stacked pallets. Additionally, novel safety features in these powered pallet trucks, such as dead man’s switch, enable taking necessary actions such as halting the machine during emergency situations.
Pallet Trucks Market: Preeminence of Warehouse Application Prevails
The study foresees warehouse application of pallet trucks to lead the market in the foreseeable future. Warehouses have demonstrated development in myriad ways, ranging from form to function, over the past couple of years. Changing procurement, production, and distribution methods have led significant transformations in warehousing industry. It is highly likely that the near future of the industry will remain positive, meanwhile gaining popularity as the prominent end-customer distribution platform, irrespective of the just-in-time methods being utilized.
Imperativeness of advanced and high-tech material handling equipment is being elucidated by growing need for optimal warehousing, and pallet trucks are considered to be a popular equipment, second to forklifts, according to the study. The upward trend of online shopping, while bolstering ecommerce growth, has led to proliferation of warehouses as a result. Rising number of warehouse spaces for shipments of the products is a prominent factor fuelling adoption of pallet trucks, and the trend is set to persist in the upcoming years.
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To deliver a seamless understanding of the Pallet Trucks market, the report is divided into 18 sophisticated chapters whose snapshots are provided below.
Chapter 1 – Executive Summary
The report commences with the chapter of the executive summary which delivers brief yet affluent information of the Pallet Trucks market. The chapter includes discussion on the market overview, market analysis and market recommendations regarding the Pallet Trucks market derived based on Fact.MR’s proprietary wheel of fortune.
Chapter 2 – Market Introduction
In the market introduction chapter, the Pallet Trucks market is introduced along with the
market segmentation in the form of market taxonomy. The chapter also introduces the Pallet Trucks in the market definition section.
Chapter 3 – Pallet Trucks Market Background
In this chapter, macroeconomic factors, market dynamics, a complete value chain and pricing
analysis with regard to Pallet Trucks market is elaborately discussed. Discussion on the
market drivers, restraints, trends and opportunities and their impact on the market forecast is also
covered in this chapter.
Chapter 4 – Global Pallet Trucks Market Analysis 2013–2017 and Forecast 2018–2026
This chapter provides the Pallet Trucks market size in terms of market volume and value
during the forecast period. Market analysis based on absolute $ opportunity and y-o-y growth of the Pallet Trucks market is also covered in this chapter.
Chapter 5 – Global Pallet Trucks Market Analysis 2013–2017 and Forecast 2018–2026,
By System Type Based on system types in the Pallet Trucks market, the chapter elaborates market size of individual systems and analysis by system types and summary of this section is covered in the chapter.
Chapter 6 – Global Pallet Trucks Market Analysis 2013–2017 and Forecast 2018–2026, By Application
Based on applications, Market size of individual applications, their market attractiveness analysis and summary are also covered.
Chapter 7 – Global Pallet Trucks Market Analysis 2013–2017 and Forecast 2018–2026, By End User
This chapter elaborates the segmentation of the Pallet Trucks market based on end users
including independent end users, Market attractive analysis by end users is also discussed to fathom relative lucrativeness of different end users of the Pallet Trucks market.
Chapter 8 – Global Pallet Trucks Market Analysis 2013–2017 and Forecast 2018–2026, By Region
With the geographical perspective, the Pallet Trucks market is analyzed on a total of seven regions including North America, Latin America, Europe, South East Asia & Pacific, Middle East & Africa, China and Japan. Historical data and prevailing trends in the Pallet Trucks market and their influence on the global market performance is discussed in this chapter.