Largest Companies in the Global Pallet Market 2019 by IMARC Group

According to the latest report by IMARC Group titled, "Pallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global pallet market reached a volume of 6.87 Billion Units in 2018. Looking forward, IMARC expects the report further anticipates the market to reach 9.18 Billion Units by 2024, at a projected CAGR of 4.87% over the forecast period.

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A pallet is a flat wooden structure, which is utilized for carrying goods from one place to another through a front loader or a forklift. It is one of the most common bases used for stacking goods and securing them with the help of a pallet collar, stretch wrap, adhesive or some other means of stabilization. It is generally manufactured using wood, plastic or metals.

Nowadays, the leading manufacturers operating in the industry are investing in research and development (R&D) to incorporate advanced technologies in the production process of pallets. For instance, they have recently introduced multiple-trip pallets that assist in reducing cost per-trip, removing solid waste and improving the overall operational efficiency. Besides this, owing to digitalization and increasing automation, vendors are increasing the utilization of radio-frequency identification (RFID) tags, which aids in tracking products. Other trends experienced in the pallet industry are vertical integration of various companies, an increase in the influence of pallet pooling companies and the rising demand for block pallets.

Explore Related Research Reports: https://www.imarcgroup.com/pallet-market

Type Insights:

On the basis of type, the market has been segmented into wood, plastic, metal and corrugated paper. Amongst these, wood pallets exhibit a clear dominance in the market as they are lightweight, stiff, durable and cost effective.

Application Insights:

Pallets currently find myriad applications across various sectors which include food and beverage, chemical and pharmaceutical, machinery and metal, and construction. The food and beverage sector currently represents the largest segment.

Structural Design Insights:

Based on structural design, the market has been segregated as block, stringer and others. Block pallets generally use plywood, solid wood, or plastic blocks for supporting the unit load, whereas, stringer pallets use boards of 2 x 4's or 3 x 4's, placed between the top and bottom deck boards.

Regional Insights:

On a geographical front, North America represents the largest region for the global pallet market, accounting for the majority of the market share. This can be accredited to rapid development in the industrial sector and an increase in exports across the region. Some of the other major markets include Europe, Asia-Pacific, Middle East and Africa, and Latin America.

Import and Export:

On the basis of imports and exports scenario, Germany currently represent the largest importer, whereas, Poland represents the biggest exporter of pallet across the globe.

Competitive Landscape:

The market is characterised by the presence of several regional and global manufacturers who are investing in product development in order to improve their portfolio as well as increase the functionality and efficiency of the products. Some of the leading players operating in the market are:

Brambles Ltd
Rehrig Pacific Company
Schoeller Allibert
LOSCAM
CABKA Group
PECO Pallet Inc
Falkenhahn AG
Litco International INC
Explore full report with table of contents: https://www.imarcgroup.com/largest-companies-global-pallet-market

Key highlights of the report:

Market Performance
Market Outlook
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Competitive Structure
Profiles of Key Players
Browse Related Report:

https://www.imarcgroup.com/us-paper-cups-plates-market

https://www.imarcgroup.com/top-companies-footwear-industry

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This release was published on openPR.