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Global Pallet Market To Surpass US$ 73.94 Billion By 2025

11-24-2020 03:05 PM CET | Industry, Real Estate & Construction

Press release from: Coherent Market Insights

pallet

pallet

Pallet is a structural foundation that allows storage and transportation of goods. Pallet offer several activities such as assembling and storing of goods in the manufacturing units and warehouses. The pallets are lifted by jacking devices such as forklift, front loader, pallet jack, or cranes. The material offers an inexpensive method for handling and storage activities in various manufacturing industries.

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Increasing number of manufacturing units and the growing housing and construction sector is a major factor propelling growth of the market. Moreover, the increasing import-export activities in pharmaceuticals and food and beverage industry has fuelled demand for reliable and durable product storing materials, including pallets. Plastic pallets accounted for the fastest growing material segment, as plastic pallets are preferred for shipment of goods. This is owing to the materials’ durability, light-weight, and low-cost in terms of floor space and labor requirement. Moreover, various companies such as Amazon Inc. and Inditex S.A are investing in R&D activities such developing RFID tags for tracking pallets. Such R&D activates are expected to drive growth of the global pallet market.

Market Dynamics

North America holds the dominant position in the global pallet market in 2016, with market share of 38% and is expected to retain its dominance over the forecast period. The developed industrial sector coupled with increase in exports is the major factor driving growth of the pallet market in the region. Moreover, increasing demand for plastic pallets in food and pharmaceutical industry is further expected to fuel the market growth, owing to the food and safety compliance by the Food and Drug Administration (FDA) in the region.

Key features of the study:

This report provides in-depth analysis of pallet and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017 – 2025), considering 2016 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players

It profiles leading players in the global Pallet market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans

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Key companies covered as a part of this study include Brambles Limited, LOSCAM, Rehrig Pacific Company, CABKA Group, PECO Pallet Inc, The Corrugated Pallet Company, Falkenhahn AG, Millwood Incorporation, Litco International Inc, and Schoeller Allibert

Mr. Raj Shah
Coherent Market Insights,
1001 4th Ave,
#3200 Seattle, WA 98154,U.S.
Email: sales@coherentmarketinsights.com
Phone: US +1-206-701-6702/UK +44-020 8133 4027

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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