Pallet Jack Market

Pallet Jack Market

Pallet Jack Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030

  • XPLREP5714

  • July, 2020

  • 170 Pages

  • Industrial Automation

Propulsion of Digitization to Drive the Pallet Jack Market

As per a report available on XploreMR, the global pallet jack market is expected to show an astounding progress in the years to come.

The ever-increasing innovations with respect to pallet trucks with the objective of offering better solutions to the end-customers are expected to be the key growth drivers to the pallet jack market. Hydrogen fuel-cell pallet trucks have been the torchbearers and are expected to continue to be so in the forecast period as well.

Also, increase in the requirement for distribution centres and warehouses will, in turn, increase requirement for pallet jacks for facilitating movement of goods. Along these lines, “Crown”, one of the prime vendors, has come up with technology using an exclusive glove for remote monitoring of pallet jack.

Pallet Jack Market: Factors to Scrutinize

The material generally used for making pallet jack is “stainless steel”. The very first pallet jack used steam for the production of pallet jack. As of now, completely automated electric pallet jacks along with “high load capacity” are being made available. It’s impossible to imagine material handling without pallet jacks. The bulk goods could thus be loaded as well as unloaded with the help of pallet jacks. Advanced technologies like RFID, voice recognition, smart labels, robotics, and Internet of Things (IoT) make the things tad simple.

They also help in bulk goods’ inbound transportation. This helps on the whole as reduction of lead times is the top priority of manufacturers. Moreover, with a one-time investment in equipment and technology, optimization of labour cost is possible. All these factors are expected to keep the momentum of pallet jack market (especially the one with automated pallet jack) going in the years to come.

The material handling equipment market growth goes in sync with pallet jacks market. In other words, it’s directly proportional to the material handling equipment market. With digitization (mentioned above), the material handling equipment market is could to scale new heights.

Covid-19 Impact

The ongoing pandemic has slowed down material handling as lockdowns have been enforced across the globe. This scenario is expected to continue till the end of the year 2020. However, the year 2021 is expected to turn the digitized pallet jack back into the major disruptor to the pallet jack market.

Region-wise Analysis

The global pallet jack market constitutes North America (Canada, US), Eastern Europe (Russia and Poland), Western Europe (Luxembourg, The Netherlands, Belgium, Nordic countries, Italy, Spain, France, UK, Germany), Asia-Pacific (New Zealand, Australia, ASEAN, Japan, India, China), MEA (North Africa, Southern Africa, GCC), and Latin America (Chile, Peru, Brazil, Mexico, and others).

North America led the pallet jack market in 2019. The status quo is expected to continue with from the year 2021 onwards as well. Europe comes in second. Asia-Pacific is expected to witness the fastest growth going forward due to the rapid urbanization witnessed by the developing economies like India.

Competitive Landscape

The key players in the pallet jack market include Douglas Equipment company, Puma Lift Trucks, Godrej Material Handling, Patel Material Handling Equipment, Ningbo Ruyi Joint Stock, CONHERSA, Lokpal Industries, Mighty Lift, Pallet Trucks UK, Yale Materials Handling Corporation, Sroka Incorporated, Hyster Company, NOVELTEK, Crown, Toyota, and ROCI Manufacturing.

Pallet Jack Market - Scope of the Report

XploreMR recently published a market study on the global market for pallet jacks. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the pallet jack market structure. The market study presents exclusive information about how the pallet jack market will grow during the forecast period of 2020-2030.

Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in XploreMR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the pallet jack market for the forecast period.

The study is relevant for stakeholders in the pallet jack market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the pallet jack market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the XploreMR study.

The study also includes statistics as well as facts related to the macro- as well as micro-economic factors that are impacting developments in the pallet jack market. It also offers actionable insights based on the future trends in the pallet jack market. Furthermore, small businesses and new entrants in the pallet jack market can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.

Key Segments of Pallet Jack Market

XploreMR’s study on the pallet jack market offers information divided into four important segments — product, capacity, end use, and regional analysis. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

  • Product
  • Capacity
  • End Use
  • Region
  • Manual Pallet Jacks
  • Below 2.5 Tons
  • Logistics
  • North America
  • Powered Pallet Jacks
  • 2.5 to 5 Tons
  • Retail
  • Latin America

 

  • Above 5 Tons
  • Manufacturing
  • Europe

 

 

  • Food & Beverages
  • East Asia

 

 

  • Automotive
  • South Asia

 

 

  • Pharmaceuticals
  • Oceania

 

 

  • Chemicals
  • MEA

 

 

  • General Manufacturing

 

 

 

  • Aerospace & Defence

 

Key Questions Answered in XploreMR’s Pallet Jack Market Report

  • Which regions will continue to remain the most profitable regional markets for pallet jack market players?
  • Which factors will induce a change in the demand for pallet jacks during the assessment period?
  • How will changing trends impact the pallet jack market?
  • How can market players capture the low-hanging opportunities in the pallet jack market in developed regions?
  • Which companies are leading the pallet jack market?
  • What are the winning strategies of stakeholders in the pallet jack market to upscale their position in this landscape?

Pallet Jack Market: Research Methodology

In XploreMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the pallet jack market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the production of the pallet jack market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Pallet Jack Market: In-depth Analysis on Competitive Landscape

The report sheds light on leading manufacturers in the pallet jack market, along with their detailed profiles. Essential and up-to-date data information related to market players who are principally engaged in the production of pallet jacks has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take pre-emptive steps in advancing their businesses.

Company profiles have been combined in the report, which include essentials such as product portfolios, along with an all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all prominent players, thus, providing readers with actionable insights, which help in thoughtfully presenting market status and predicting competition levels in the pallet jack market.

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Pallet Jack Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030
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