The Pallet Trucks by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pallet Trucks, The pallet trucks market size has grown strongly in recent years. It will grow from $38.36 billion in 2023 to $41.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to automation and electrification trends, focus on safety and ergonomics, sustainability initiatives, customization and specialized solutions, rise in e-commerce activities.
The pallet trucks market size is expected to see strong growth in the next few years. It will grow to $56.7 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to shift towards compact and versatile solutions, efficiency and productivity enhancement, market penetration in emerging economies, customization and specialized solutions..Major trends in the forecast period include industry 4.0 integration, efficiency and productivity improvements, compact and versatile solutions, integration of iot and telematics, innovations in design and materials.
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. For instance, according to a quarterly report published by the Census Bureau of the Department of Commerce, a US-based federal government statistical agency, total retail e-commerce sales for the third quarter of 2022 were estimated to be $1,792.0 billion with e-commerce accounting for 14.8% of total sales. Therefore, the growing e-commerce usage across the globe is subsequently propelling the pallet truck market.
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The pallet trucks market covered in this report 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
Top Major Players:
- Jungheinrich AG
- Crown Equipment Corporation
- Hyster-Yale Materials Handling Inc.
- Kion Group AG
- Toyota Industries Corporation
North America was the largest region in the pallet trucks market in 2023.
The adoption of electric vehicle technology in pallet trucks is a major trend in the global pallet truck market. Major industry players are integrating new electric technologies into pallet trucks to gain a competitive edge in the market. For instance, in May 2022, Linde Material Handling, a Germany-based warehouse equipment manufacturer launched the T14 – T20 series of electric pallet trucks integrated with cutting-edge electric technology. The new electric pedestrian trucks are built with lithium-ion batteries to transport pallet loads of 1.4 to 2.0 tons and feature sensor-based foot protection for safer work operations.
The pallet trucks market report table of contents includes:
1. Executive Summary
2. Pallet Trucks Market Characteristics
3. Global Pallet Trucks Market Trends And Strategies
4. Pallet Trucks Market - Macro Economic Scenario
5. Global Pallet Trucks Market Size and Growth
…….
26. Pallet Trucks Market Competitive Benchmarking
27. Global Pallet Trucks Market Competitive Dashboard
28. Key Mergers and Acquisitions Pallet Trucks Market
29. Pallet Trucks Market Future Outlook and Potential Analysis
30. Appendix
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The new Multifunction Pallet Trucks Market report offers a comprehensive study of the current scenario of the market including major market dynamics.
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the multifunction pallet trucks market include Still GmbH, Linde Material Handling, Manuvit, Ferplast, Logitrans, Bishamon, Mïtsubishi Forklift Trucks, EP Equipment, Stöcklin Logistik AG, Columbus McKinnon Industrial Products, OMG Srl.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Multifunction Pallet Trucks Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/multifunction-pallet-trucks-market/download-sampleMarket DynamicsThe global multifunction pallet trucks market is projected to grow significantly.
Expanding bases of manufacturing plants, specialty and retail stores, factory floors, and warehouse facilities leads to an increased multifunction pallet truck demand.
Pallet trucks have gained paramount importance across industries worldwide, as they save precious man hours and expenditure on labor wages regarding movement & storage of pallets.
This further enables industries to focus their manpower more on core responsibilities.
Pallet trucks have been renowned as a cost-effective, versatile, and user-friendly alternative to other relevant equipment such as forklifts.
Pallet trucks have demonstrated continuous safety, practicality, and durability improvements in the recent past.Read Report Overview: https://www.factmr.com/report/614/pallet-truck-marketCurrent innovation areas of pallet truck manufacturers include basic components such as wheels, with several models being equipped with polyurethane wheels to enable silent running, improved grip, and higher protection against smooth & delicate floors.
A recent Fact.MR study projects the pallet trucks market to reflect an impressive 6.03% value CAGR during the forecast period, 2018 to 2028.Numerous advanced pallet trucks’ availability across the globe have driven their demand across industrial sectors, with focus toward production evolving in tandem with application areas.
High-lift pallet trucks have been developed, which incorporate features such as lateral stabilizers and telescopic jacks, thereby enabling automatic speed decline to prevent damages to heavy cargo.Request for the Sample Report: https://www.factmr.com/connectus/sample?flag=S_id=614Ever-growing development of the electric hydraulic technology is currently leading the pallet truck advancements beyond transportation of heavy goods toward prevention of musculoskeletal injuries in the material handling industry.
Fact.MR is a leading market research entity that, with its primary and secondary research mechanisms can bring a tectonic shift in the growth rate of the Pallet Trucks market.
Fact.MR leads the way of your business toward success through the help of exceptional market leaders and experts having diverse experience in the Pallet Trucks market.
A punctilious analysis of the various parameters of the Pallet Trucks market across the forecast period of 2019-2028 assists the market stakeholder to design growth strategies accordingly.
These unprecedented times may have hit a dent in the growth prospects of the Pallet Trucks market but as the old saying goes, ‘Where there is a will, there is a way!’ Fact.MR believes in this thought and strives to be of great use to the various players for generating growth in the Pallet Trucks market through its state-of-the-art research reports.
Request to View Sample of Research Report @ https://www.factmr.com/connectus/sample?flag=S_id=614According to the scrutinous analysis of the Pallet Trucks market by Fact.MR analysts, the global Pallet Trucks market is anticipated to expand at a CAGR of 6.9% throughout the forecast period.
The commendable research and development initiatives led by the key players of the Pallet Trucks market will assure notable growth opportunities.
