Pallet Jack Market To Witness Widespread Expansion During 2031

Posted on 2021-12-02 by Future Market Insights, Inc in Industrial // 0 Comments

The global pallet jack market is niche in nature, and is projected to rise at a value CAGR of 9% over the forecast period. Pallet jacks are primarily used in factory or warehouse premises to move material. The outbreak of COVID-19 will have a marginal effect on the demand for pallet jacks. Sales are projected to decline by 8,000 units in 2020 as compared to 2019. However, the resumption of manufacturing operations in prominent countries such as China, the US, India, and Germany would boost the growth of the pallet jack market in the near future.

According to Fact.MR, global demand for pallet jacks will hit a valuation of US$ 242 million by 2030 end.

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Key Takeaways from Global Pallet Jack Market Study

The powered pallet jacks segment is expected to account for more than 60% of total pallet jack sales in 2020.
There will be close competition in end-use segments between the automotive and pharmaceutical sectors for pallet jack sales over the forecast period.
The below 2.5 tons segment leads the pallet jack market, and will gain 180 BPS in its market share by the end of 2030.
Europe is foreseen to remain a prominent region, accounting for more than 40% of the global share in the pallet jack market.

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Key Segments of Pallet Jack Market

Fact.MR’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

Manual Pallet Jacks
Powered Pallet Jacks

Capacity

Below 2.5 Tons
2.5 to 5 Tons
Above 5 Tons

End Use

Logistics
Retail
Manufacturing
Food & Beverages
Automotive
Pharmaceuticals
Chemicals
General Manufacturing
Aerospace & Defence

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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The Pallet Jack Market report answers important questions which include:

What does the status of the Pallet Jack Market look?

Pallet Jack Market look like after the forecast period?
Which region has the highest contribution to Pallet Jack Market Devices why?
Which players remain at the top of the Pallet Jack Market look?
What opportunities are available for the Pallet Jack Market players to expand their production footprint?
Which segment has the maximum impact on Pallet Jack Market?

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