Global Pallet Market by 2025, Market is Expected to Reach 60.89 Billion USDby Agastya Bellamkonda Business Consulting
A Pallet is a flat panel which acts as a base for storing and transporting raw and finished products. Pallet is designed in such a way that it can be easily lifted using forklifts and pallet jacks. This palletized transport and storage enables operational efficiency and material handling. The Global Pallet Market was worth 43.1 Billion USD in 2018 and is estimated to reach 60.89 Billion USD by 2025 at a CAGR of 5.06% during the forecast period.
Increasing consumer expenditure on housing and infrastructural activities resulting in rapid urbanisation and industrialisation for the growth of global pallet market. In the recent years, plastic pallets have gained immense popularity across various sectors on account of their reusability and recyclability. Moreover, manufacturers are also coming up with various technological innovations in order to increase their consumer-base. Apart from this, a rising need for safe and efficient transportation alternatives is anticipated to boost the demand for pallets in the coming years.
Growth by Region
Asia-Pacific Region is expected to lead the Global Pallet Market. The manufacturing industry in this region fuels the market growth in this region. North America will have the second largest market followed by Europe.
The Middle East and Africa
Segmentation by Type
The report covers information in detail about applications and different aspects of various types of pallets available in the industry today.
Corrugated cardboard Pallets
Lightweight plywood pallet
Press wood pallet
Segmentation by Shape and Size
Pallets are of different shapes and sizes and our report will have detailed information about all possible kinds. Here are the ones that are found:
Other segmentations include by usage, structural design, application and more…
Spruce Impex Pvt Ltd.
Pilco Storage Systems Private Limited
Swift Technoplast Private Limited Brambles Limited
Loscam Australia Pty Ltd
The Corrugated Pallets
Euro Pool System International
Faber Halbertsma Group
Jinyuan Group Wuhu Zhongshan
Tianjin CIMC Logistics Equipment
Drivers vs. Constraints
Increase in the manufacturing output is one of the key drivers for market growth. The growing need for safe, efficient, and easier transportation is the reason for the growth in the Global Pallet Market.
The limiting availability and high cost of raw materials for manufacturing pallets is the reason which restraints this market growth.
Industry Structure and Update
In 2011, key pallet vendor Brambles acquires IFCO systems, as a part of acquisition and merger strategy to increase the market growth.
Created on Jul 19th 2019 00:34. Viewed 292 times.