New Research on Global Pallet Trucks Market Showcases Promising 6.03% CAGR Growth during the forecast period, 2018 to 2028

Posted on 2018-09-28 by Mark Hub in Industrial // 0 Comments

Fact.MR

Rockville, US, 2018-Sep-28 — /EPR Network/ — 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: Development of Advanced Application-Specific Product Variants Bolstering Growth

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. Manual stackers, for instance, demonstrate increased demand in safe, quick, and convenient lifting & transportation of palletized loads. 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.

Ever-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. Modern day pallet trucks, through combination of hydraulic and electric 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.

Upward Trend of Warehousing Likely to Invigorate Pallet Truck Sales

Over the past few years, warehouses have witnessed development in several ways, ranging from function to form. Constant transformation in warehousing is considered to be a consequence of changing procurement, distribution, and production methods. New lease of life is being beguiled by the warehousing industry, which is gaining popularity as the end-customer distribution platform, disregard of just-in-time methods being used.

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The need for optimal warehousing has elucidated the imperativeness of technologically-advanced material handling equipment such as pallet trucks. Growing consumer preference for online shopping has bolstered growth of ecommerce, thereby leading to rising number of warehouses. Expanding warehouse spaces for shipment of products has furthered the adoption of pallet trucks, which facilitate movement and storage of goods.

Automatic Guided Pallet Trucks Emerge as a Key Opportunity

Automatic guided vehicles (AGVs) are controlled from outside and confined to programmed movements. A typical automatic guided pallet trucks employed in warehouses trail a programmed or pre-fixed route, and are unable to navigate around barriers or obstacles. Requirement of human intervention for clearing obstacles and restarting the equipment have led manufacturers to concentrate on advancements and upgradation in these pallet trucks.

Raymond’s Courier, Linde’s T-Matic, and Yale’s Driven by Baylo are key developments made in automatic guided pallet trucks that go beyond functioning of AGVs, moving independently around warehouses for lifting & storing pallets. A wide range of technologies, such as vision guidance systems, lasers, and GPS, are being incorporated in pallet trucks by manufacturers, enabling the equipment in mapping and navigating their environment. Such developments will significantly rub off on demand for pallet trucks in the near future.

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.

Table of Content:

Executive Summary
1.1. Summarizing Key Findings
1.2. Trends and Developments
1.3. Strategic Themes
1.4. Highlighting Action Area – Wheel of Fortune
Global Pallet Trucks Market Overview
2.1. Introduction
2.2. Market Definition and Scope
2.3. Market Taxonomy and Segments Captured
Global Pallet Trucks Market Outlook
3.1. Market Size (US$ Mn), Volume (‘000 Units) and Forecast, 2012-2028
3.2. Market Y-o-Y Growth
3.3. Forecast Factors and Relevance of Impact
Global Pallet Trucks Market Dynamics
4.1. Drivers
4.2. Restraints
4.3. Opportunities
4.4. Trends

Continued……………..

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FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market Insights reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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