Pallet Pooling (Rental) Market to Witness Comprehensive Growth by 2027

According to a new report by Future Market Insights, the global pallet pooling (rental) market is expected to grow at 6.6% CAGR through 2027. Demand for pallet pooling (rental) is growing steadily, owing to their higher durability. Further, the high cost associated with repair, management, and storage of pallets is influencing companies to opt for rental pallet pooling.

The key trends influencing the global pallet pooling (rental) market are: An increasing demand is being witnessed for pallets that meet hygiene requirements and offer mechanical performance.Adoption of radio frequency identification (RFID) tags is increasing among end-users owing to its advantage of tracking the pallets throughout the supply chain.

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North America remains the largest region for pallet pooling (rental) accounting for 38% revenue share of the market. In terms of revenue, the North America pallet pooling (rental) market is projected to grow at 6.7% CAGR through 2027. Western Europe is the second largest market, accounting for 23.5% revenue share. Future Market Insights estimates these two regions to remain dominant throughout the forecast period.

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The key companies profiled by Future Market Insights in its report are iGPS Logistics LLC, Loscam Australia Pvt. Ltd., Brambles Limited, Euro Pool Group, and Faber Halbertsma Groep B.V. According to Future Market Insights’ competitive landscape analysis, Tier 2 companies account for 43% to 48% market share.

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This release was published on openPR.