Pallet Pooling Market : Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports

Pallet Pooling Market
Pallet Pooling market is projected to reach US$ 13210 million in 2029, increasing from US$ 9043.1 million in 2022, with the CAGR of 5.5% during the period of 2023 to 2029. Key drivers leading the growth of the pallet pooling market include the rising demand for plastic pallets across various industry verticals globally as they are eco-friendly and lightweight and further development of innovative and smart pallets with digital technologies for warehousing and transportation consumers across the globe.

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Pallet pooling is the process of renting or leasing pallets from a shared pool. It helps in reducing the costs involved in the transportation of goods and supply chain management. Evolving automation in distribution centers leading to faster adoption of automated palletization processes for effective cost savings and storage is another factor fuelling the growth of the global pallet pooling market. The eventual shift to robotic palletization processes with increasing usage of bots for transportation of goods to and from storage and different processing areas is also fuelling the growth of the pallet pooling market.

Trends Influencing the Pallet Pooling Market
Increasing adoption of innovative pallets across all industry verticals
Major players are concentrating on developing smart and innovative pallets with digital technologies due to the growing demand for smart pallets from transportation and warehousing consumers across the globe. These new pallets come with Radio Frequency Identification chips(RFID chips) which help in tracking and flowing pallets for accurate management. The RFID chips can sense the impact, humidity, and temperature to enable safety, especially in the food supply chain. Such new innovations are driving the growth of the pallet pooling market and will continue further during the forecast period.
Rising popularity of plastic pallets
Earlier wooden pallets were being used due to their strength and easy manufacturing process. But certain disadvantages of wooden pallets such as moisture absorption, less durability, and cleanliness problems, etc have forced logistical companies to shift to plastic pallets due to their lightweight and eco-friendly nature. Further rising concern for reducing carbon footprint is also driving growth for plastic pallets leading to a rise in the pallet pooling market globally.
Rising Adoption of automated palletization process in distribution centers and warehouses
Rising automation provides cost-effective solutions for market needs such as space savings and improved productivity. Automated palletization processes are being adopted faster by distribution centers of various companies as they provide lower costs for high volume and standardized products. This in turn is fuelling the growth of the pallet pooling market globally. Usage of robots and bots for carrying goods to and from storage centers and palletization processes is also aiding the growth of the pallet pooling market.
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Pallet Pooling Market By Type
• Pallet Pooling
• Pallet Rental
Pallet Pooling Market By Application
• FMCG
• Pharmaceuticals
• Electronics
• Chemical and Petrochemical
• Machinery Manufacturing
• Others
Pallet Pooling Market By Companies
• rambles Limited
• Euro Pool Group
• Faber Halbertsma Groep B.V
• JPR
• Korea Pallet Pool
• Tosca Services, LLC
• IGPS Logistics LLC
• PECO Pallet
• Demes Logistics GmbH
• Logtek
• PPS Midlands

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