PUBLISHER: Acute Market Reports | PRODUCT CODE: 1139498
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1139498
Pallet Truck Market - Growth, Future Prospects and Competitive Analysis, 2022 - 2030
"Explosive Growth in the E-Commerce Is Driving the Pallet Trucks Market"
Globally, the pallet trucks market is expected to grow with a CAGR of 7.1% during the forecast period from 2022 to 2030. The growth of the market is driven by the explosive growth in the e-commerce market. Over the past decade, a significant surge in the e-commerce market has been witnessed. The e-commerce market was estimated to be around US$ 2.3 trillion in 2017 and is estimated to reach US$ 4.8 trillion by 2021. The growth of the market is attributed to the increasing digitalization among the retailers. The retailers are swiftly shifting towards the digital channels to enhance their take full advantage of the growing trend of online shopping across the globe.
Furthermore, the growing adoption of smartphones along with the internet services also serving as a major force accelerating the adoption of the pallet trucks. The advancement in the pallet trucks is also presenting myriad new opportunities for the growth of the market. The advancement in the battery capacity along with the research activities for the development of automated guided vehicles is creating multiple new avenues for the growth of the market. However, the high cost of the trucks is acting as a major constraint in the growth of the market.
"Retail & E-Commerce Sector Is Dominating The Pallet Trucks Market"
The pallet trucks market is categorized based on the application into food & beverages, retail & e-commerce, manufacturing, freight & logistics, and others. The retail & e-commerce sector accounted for more than 40% share in the revenue in 2020. The growth of the market is attributed to the wide scale warehousing in the e-commerce sector. The retail and e-commerce companies are using the pallet trucks for the material handling. The pallet trucks effectively manage the material, increases the productivity and enhance the operational efficiency. The growing trend of automating the material handling process is augmenting the growth of the market.
"North America Is Leading the Pallet Trucks Market"
North America led the pallet trucks market with over 36% share in the revenue in 2020. The market is driven by the rapidly growing e-commerce business in the region. The growing trend of automation along with the supportive government initiatives to promote the adoption of the advance technology across the industry sector is also supporting the growth of the market. Additionally, the rising adoption of automated guided vehicles across the region is driving the growth of the market.
The prominent players in the pallet trucks market are Goscor Lift Trucks, Hyster Company, Hyundai Heavy Industries, Jungheingrich, KION Group, Liftek FZC, Linde Material Handling, Nido Machineries Pvt Ltd, Nilkamal Limited, Pr Industrial S.r.l., Presto Lifts Inc, Thermote & Vanhalst Group, and Toyota Industries.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Pallet Truck market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Pallet Truck market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Control
Manual
Semi-electric
Electric
Diesel
Compressed Natural Gas (CNG)
Others
Type
Standard
Quarter
Silent
Weighing
Scissor
Load Capacity
Below 2000 kg
2000-4000 kg
4000-6000 kg
Above 6000 kg
Application
Retail & E-commerce
Food & Beverages
Automotive
Manufacturing
Others
Region Segment (2020-2030; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
Pre COVID-19 situation
Post COVID-19 situation
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Pallet Truck market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Pallet Truck market?
Which is the largest regional market for Pallet Truck market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Pallet Truck market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Pallet Truck market worldwide?
Table of Contents
1. Preface
- 1.1. Report Description
- 1.1.1. Purpose of the Report
- 1.1.2. Target Audience
- 1.1.3. Key Offerings
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.3.1. Phase I - Secondary Research
- 1.3.2. Phase II - Primary Research
- 1.3.3. Phase III - Expert Panel Review
- 1.3.4. Assumptions
- 1.3.5. Approach Adopted
2. Executive Summary
- 2.1. Market Snapshot: Global Pallet Truck Market
- 2.2. Global Pallet Truck Market, By Control, 2021 (US$ Million)
- 2.3. Global Pallet Truck Market, By Type, 2021 (US$ Million)
- 2.4. Global Pallet Truck Market, By Load Capacity, 2021 (US$ Million)
- 2.5. Global Pallet Truck Market, By Application, 2021 (US$ Million)
- 2.6. Global Pallet Truck Market, By Geography, 2021 (US$ Million)
- 2.7. Impact of Covid 19
- 2.8. Attractive Investment Proposition by Geography, 2021
- 2.9. Competitive Analysis
- 2.9.1. Market Positioning of Key Pallet Truck Market Vendors
- 2.9.2. Strategies Adopted by Pallet Truck Market Vendors
- 2.9.3. Key Industry Strategies
3. Pallet Truck Market: Business Outlook & Market Dynamics
- 3.1. Introduction
- 3.2. Global Pallet Truck Market Value, 2020 - 2030, (US$ Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers
- 3.3.2. Market Restraints
- 3.3.3. Key Challenges
- 3.3.4. Key Opportunities
- 3.4. Impact Analysis of Drivers and Restraints
- 3.5. See-Saw Analysis
- 3.6. Porter's Five Force Model
- 3.6.1. Supplier Power
- 3.6.2. Buyer Power
- 3.6.3. Threat Of Substitutes
- 3.6.4. Threat Of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTEL Analysis
- 3.7.1. Political Landscape
- 3.7.2. Economic Landscape
- 3.7.3. Technology Landscape
- 3.7.4. Legal Landscape
- 3.7.5. Social Landscape
4. Pallet Truck Market: By Control, 2020-2030, USD (Million)
- 4.1. Market Overview
- 4.2. Growth & Revenue Analysis: 2021 Versus 2030
- 4.3. Market Segmentation
- 4.3.1. Manual
- 4.3.2. Semi-electric
- 4.3.3. Electric
- 4.3.4. Diesel
- 4.3.5. Compressed Natural Gas (CNG)
- 4.3.6. Others
5. Pallet Truck Market: By Type, 2020-2030, USD (Million)
- 5.1. Market Overview
- 5.2. Growth & Revenue Analysis: 2021 Versus 2030
- 5.3. Market Segmentation
- 5.3.1. Standard
- 5.3.2. Quarter
- 5.3.3. Silent
- 5.3.4. Weighing
- 5.3.5. Scissor
6. Pallet Truck Market: By Load Capacity, 2020-2030, USD (Million)
- 6.1. Market Overview
- 6.2. Growth & Revenue Analysis: 2021 Versus 2030
- 6.3. Market Segmentation
- 6.3.1. Below 2000 kg
- 6.3.2. 2000-4000 kg
- 6.3.3. 4000-6000 kg
- 6.3.4. Above 6000 kg
7. Pallet Truck Market: By Application, 2020-2030, USD (Million)
- 7.1. Market Overview
- 7.2. Growth & Revenue Analysis: 2021 Versus 2030
- 7.3. Market Segmentation
- 7.3.1. Retail & E-commerce
- 7.3.2. Food & Beverages
- 7.3.3. Automotive
- 7.3.4. Manufacturing
- 7.3.5. Others
8. North America Pallet Truck Market, 2020-2030, USD (Million)
- 8.1. Market Overview
- 8.2. Pallet Truck Market: By Control, 2020-2030, USD (Million)
- 8.3. Pallet Truck Market: By Type, 2020-2030, USD (Million)
- 8.4. Pallet Truck Market: By Load Capacity, 2020-2030, USD (Million)
- 8.5. Pallet Truck Market: By Application, 2020-2030, USD (Million)
- 8.6.Pallet Truck Market: By Region, 2020-2030, USD (Million)
- 8.6.1.North America
- 8.6.1.1. U.S.
- 8.6.1.2. Canada
- 8.6.1.3. Rest of North America
- 8.6.1.North America
9. UK and European Union Pallet Truck Market, 2020-2030, USD (Million)
- 9.1. Market Overview
- 9.2. Pallet Truck Market: By Control, 2020-2030, USD (Million)
- 9.3. Pallet Truck Market: By Type, 2020-2030, USD (Million)
- 9.4. Pallet Truck Market: By Load Capacity, 2020-2030, USD (Million)
- 9.5. Pallet Truck Market: By Application, 2020-2030, USD (Million)
- 9.6.Pallet Truck Market: By Region, 2020-2030, USD (Million)
- 9.6.1.UK and European Union
- 9.6.1.1. UK
- 9.6.1.2. Germany
- 9.6.1.3. Spain
- 9.6.1.4. Italy
- 9.6.1.5. France
- 9.6.1.6. Rest of Europe
- 9.6.1.UK and European Union
10. Asia Pacific Pallet Truck Market, 2020-2030, USD (Million)
- 10.1. Market Overview
- 10.2. Pallet Truck Market: By Control, 2020-2030, USD (Million)
- 10.3. Pallet Truck Market: By Type, 2020-2030, USD (Million)
- 10.4. Pallet Truck Market: By Load Capacity, 2020-2030, USD (Million)
- 10.5. Pallet Truck Market: By Application, 2020-2030, USD (Million)
- 10.6.Pallet Truck Market: By Region, 2020-2030, USD (Million)
- 10.6.1.Asia Pacific
- 10.6.1.1. China
- 10.6.1.2. Japan
- 10.6.1.3. India
- 10.6.1.4. Australia
- 10.6.1.5. South Korea
- 10.6.1.6. Rest of Asia Pacific
- 10.6.1.Asia Pacific
11. Latin America Pallet Truck Market, 2020-2030, USD (Million)
- 11.1. Market Overview
- 11.2. Pallet Truck Market: By Control, 2020-2030, USD (Million)
- 11.3. Pallet Truck Market: By Type, 2020-2030, USD (Million)
- 11.4. Pallet Truck Market: By Load Capacity, 2020-2030, USD (Million)
- 11.5. Pallet Truck Market: By Application, 2020-2030, USD (Million)
- 11.6.Pallet Truck Market: By Region, 2020-2030, USD (Million)
- 11.6.1.Latin America
- 11.6.1.1. Brazil
- 11.6.1.2. Mexico
- 11.6.1.3. Rest of Latin America
- 11.6.1.Latin America
12. Middle East and Africa Pallet Truck Market, 2020-2030, USD (Million)
- 12.1. Market Overview
- 12.2. Pallet Truck Market: By Control, 2020-2030, USD (Million)
- 12.3. Pallet Truck Market: By Type, 2020-2030, USD (Million)
- 12.4. Pallet Truck Market: By Load Capacity, 2020-2030, USD (Million)
- 12.5. Pallet Truck Market: By Application, 2020-2030, USD (Million)
- 12.6.Pallet Truck Market: By Region, 2020-2030, USD (Million)
- 12.6.1.Middle East and Africa
- 12.6.1.1. GCC
- 12.6.1.2. Africa
- 12.6.1.3. Rest of Middle East and Africa
- 12.6.1.Middle East and Africa
13. Company Profile
- 13.1. Goscor Lift Trucks
- 13.1.1. Company Overview
- 13.1.2. Financial Performance
- 13.1.3. Product Portfolio
- 13.1.4. Strategic Initiatives
- 13.2. Hyster Company
- 13.2.1. Company Overview
- 13.2.2. Financial Performance
- 13.2.3. Product Portfolio
- 13.2.4. Strategic Initiatives
- 13.3. Hyundai Heavy Industries
- 13.3.1. Company Overview
- 13.3.2. Financial Performance
- 13.3.3. Product Portfolio
- 13.3.4. Strategic Initiatives
- 13.4. Jungheingrich
- 13.4.1. Company Overview
- 13.4.2. Financial Performance
- 13.4.3. Product Portfolio
- 13.4.4. Strategic Initiatives
- 13.5. KION Group
- 13.5.1. Company Overview
- 13.5.2. Financial Performance
- 13.5.3. Product Portfolio
- 13.5.4. Strategic Initiatives
- 13.6. Liftek FZC
- 13.6.1. Company Overview
- 13.6.2. Financial Performance
- 13.6.3. Product Portfolio
- 13.6.4. Strategic Initiatives
- 13.7. Linde Material Handling
- 13.7.1. Company Overview
- 13.7.2. Financial Performance
- 13.7.3. Product Portfolio
- 13.7.4. Strategic Initiatives
- 13.8. Nido Machineries Pvt Ltd
- 13.8.1. Company Overview
- 13.8.2. Financial Performance
- 13.8.3. Product Portfolio
- 13.8.4. Strategic Initiatives
- 13.9. Nilkamal Limited
- 13.9.1. Company Overview
- 13.9.2. Financial Performance
- 13.9.3. Product Portfolio
- 13.9.4. Strategic Initiatives
- 13.10. PR Industrial S.R.L.
- 13.10.1. Company Overview
- 13.10.2. Financial Performance
- 13.10.3. Product Portfolio
- 13.10.4. Strategic Initiatives
- 13.11. Presto Lifts Inc.
- 13.11.1. Company Overview
- 13.11.2. Financial Performance
- 13.11.3. Product Portfolio
- 13.11.4. Strategic Initiatives
- 13.12. Thermote & Vanhalst Group
- 13.12.1. Company Overview
- 13.12.2. Financial Performance
- 13.12.3. Product Portfolio
- 13.12.4. Strategic Initiatives
- 13.13. Toyota Industries
- 13.13.1. Company Overview
- 13.13.2. Financial Performance
- 13.13.3. Product Portfolio
- 13.13.4. Strategic Initiatives
- 13.14. Thermote & Vanhalst Group
- 13.14.1. Company Overview
- 13.14.2. Financial Performance
- 13.14.3. Product Portfolio
- 13.14.4. Strategic Initiatives
List of Tables
- TABLE 1 Global Pallet Truck Market By Control, 2020-2030, USD (Million)
- TABLE 2 Global Pallet Truck Market By Type, 2020-2030, USD (Million)
- TABLE 3 Global Pallet Truck Market By Load Capacity, 2020-2030, USD (Million)
- TABLE 4 Global Pallet Truck Market By Application, 2020-2030, USD (Million)
- TABLE 5 North America Pallet Truck Market By Control, 2020-2030, USD (Million)
- TABLE 6 North America Pallet Truck Market By Type, 2020-2030, USD (Million)
- TABLE 7 North America Pallet Truck Market By Load Capacity, 2020-2030, USD (Million)
- TABLE 8 North America Pallet Truck Market By Application, 2020-2030, USD (Million)
- TABLE 9 UK and European Union Pallet Truck Market By Control, 2020-2030, USD (Million)
- TABLE 10 UK and European Union Pallet Truck Market By Type, 2020-2030, USD (Million)
- TABLE 11 UK and European Union Pallet Truck Market By Load Capacity, 2020-2030, USD (Million)
- TABLE 12 UK and European Union Pallet Truck Market By Application, 2020-2030, USD (Million)
- TABLE 13 Asia Pacific Pallet Truck Market By Control, 2020-2030, USD (Million)
- TABLE 14 Asia Pacific Pallet Truck Market By Type, 2020-2030, USD (Million)
- TABLE 15 Asia Pacific Pallet Truck Market By Load Capacity, 2020-2030, USD (Million)
- TABLE 16 Asia Pacific Pallet Truck Market By Application, 2020-2030, USD (Million)
- TABLE 17 Latin America Pallet Truck Market By Control, 2020-2030, USD (Million)
- TABLE 18 Latin America Pallet Truck Market By Type, 2020-2030, USD (Million)
- TABLE 19 Latin America Pallet Truck Market By Load Capacity, 2020-2030, USD (Million)
- TABLE 20 Latin America Pallet Truck Market By Application, 2020-2030, USD (Million)
- TABLE 21 Middle East and Africa Pallet Truck Market By Control, 2020-2030, USD (Million)
- TABLE 22 Middle East and Africa Pallet Truck Market By Type, 2020-2030, USD (Million)
- TABLE 23 Middle East and Africa Pallet Truck Market By Load Capacity, 2020-2030, USD (Million)
- TABLE 24 Middle East and Africa Pallet Truck Market By Application, 2020-2030, USD (Million)
List of Figures
- FIG. 1 Global Pallet Truck Market: Market Coverage
- FIG. 2 Research Methodology and Data Sources
- FIG. 3 Market Size Estimation - Top Down & Bottom-Up Approach
- FIG. 4 Global Pallet Truck Market: Quality Assurance
- FIG. 5 Global Pallet Truck Market, By Control, 2021
- FIG. 6 Global Pallet Truck Market, By Type, 2021
- FIG. 7 Global Pallet Truck Market, By Load Capacity, 2021
- FIG. 8 Global Pallet Truck Market, By Application, 2021
- FIG. 9 Global Pallet Truck Market, By Geography, 2021
- FIG. 10 Global Pallet Truck Market, By Control, 2021 Vs 2030, %
- FIG. 11 Global Pallet Truck Market, By Type, 2021 Vs 2030, %
- FIG. 12 Global Pallet Truck Market, By Load Capacity, 2021 Vs 2030, %
- FIG. 13 Global Pallet Truck Market, By Application, 2021 Vs 2030, %
- FIG. 14 U.S. Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 15 Canada Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 16 Rest of North America Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 17 UK Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 18 Germany Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 19 Spain Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 20 Italy Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 21 France Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 22 Rest of Europe Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 23 China Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 24 Japan Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 25 India Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 26 Australia Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 27 South Korea Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 28 Rest of Asia Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 29 Brazil Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 30 Mexico Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 31 Rest of Latin America Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 32 GCC Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 33 Africa Pallet Truck Market (US$ Million), 2020 - 2030
- FIG. 34 Rest of Middle East and Africa Pallet Truck Market (US$ Million), 2020 - 2030
