Press release
Electric Pallet Jack Truck Market is anticipated to flourish at a remarkable pace over the forecast period i.e.2017-2024
Electric pallet jack truck is referred to a truck which is used for pulling the product through the workhouse or any other place efficiently. Electric pallet jack trucks are used for loading and unloading of trailers in mid distance range. These electric pallet jack trucks are handy to use. Electric pallet jack trucks are widely used by various industries, warehouses and others.
Market Size and Forecast
The global electric pallet jack truck market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Further, the various factors fuelling the growth of electric pallet jack truck market includes rapid urbanization and wide range of application of electric pallet jack truck in various industries. Additionally, growing manufacturing industries and rising demand for power-assisted lifting are envisioned to bolster the growth of electric pallet jack truck market across the globe
On the basis of end-user, the global pallet trucks market is segmented into retail store, warehousing, manufacturing plant and others. Further, warehousing is expected to dominate the overall segment during the forecast period. Likely, the growth of warehousing segment is attributed to the huge adoption rate of electric pallet jack truck for loading and unloading of materials.
In terms of regional platform, North America region captured the largest market in electric pallet jack truck in 2016. Further, electric pallet jack truck market is believed to continue its dominance in the region by the end of 2024 owing to adoption of innovative technology. Additionally, U.S. and Canada are the major countries witnessing the augmented demand for electric pallet jack truck due to growing demand for electric pallet jack truck from warehouse and retail stores.
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Europe region captured the second largest market of electric pallet jack truck in terms of revenue in 2016. Further, Western Europe countries such as U.K., Germany and others are believed to be the major countries witnessing the augmented demand for electric pallet jack truck.
Asia-Pacific region is projected to be the fastest growing electric pallet jack truck market during the forecast period. Further, growing manufacturing activities and rapid growth of industrialization sector are predicted to elevate the growth of electric pallet jack truck market in this region. In Asia-Pacific region, China and Japan are the dominating country owing to the presence of major key players of electric pallet jack truck such as Toyota Motor Corporation.
Market Segmentation
Our in-depth analysis segmented the global electric pallet jack truck market in the following segments:
By Type
Standard
High Lift
By Load Capacity
Below 1200 Kg
Between 1200 kg- 2200kg
Above 2200kg
By End-User
Retail store
Warehousing
Manufacturing plant
Others
Electric Pallet Jack Market
By Region
Global electric pallet jack truck market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Growth Drivers and Challenges
Factors such as growing technological advancement and rising adoption of electric pallet jack truck due to its various properties such as reduction in the time for loading or unloading, easy to use, and other properties are believed to be the dynamic factor behind rapid growth of electric pallet jack truck market across the globe. Additionally, rising demand for constantly shipping of new products by manufacturers is projected to elevate the demand the for electric pallet jack truck.
Furthermore, ability of electric pallet jack truck to pull heavy loads smoothly and safely is anticipated to fuel the growth of electric pallet jack truck market by the end of 2024. In addition to this, rapid urbanization and positive GDP growth of developed and developing nations such as U.S., Japan, China and others are expected to bolster the growth of electric pallet jack truck market.
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However, high cost associated with electric pallet jack truck and less adoption rate of electric pallet jack truck in underdeveloped nations is expected to hinder the growth of electric pallet jack truck market over the forecast period.
Key players
The major key players for electric pallet jack truck market are as follows
Toyota Motor Corporation
Company Overview
Key Product Offerings
Business Strategy
SWOT Analysis
Financials
Jungheinrich AG
Raymond Corporation
Yale Materials Handling Corporation
Caterpillar Inc.
Clark Material Handling Company Inc.
Crown Equipment Corporation
Komatsu Ltd.
UniCarriers Corp.
Combilift Ltd.
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global electric pallet jack truck market is segmented as follows:
By Type Market Size & Y-O-Y Growth Analysis
By Load Capacity Market Size & Y-O-Y Growth Analysis
By End-User Market Size & Y-O-Y Growth Analysis
By Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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