Pallet Truck Market Report: Trends, Forecast and Competitive Analysis to 2030

Pallet Truck Trends and Forecast

The future of the global pallet truck market looks promising with opportunities in the retail store, warehousing, manufacturing plant, and job site markets. The global pallet truck market is expected to grow with a CAGR of 7.8% from 2024 to 2030. The major drivers for this market are increasing demand to minimize carbon emissions, expanding healthcare sector, and the integration of electric technology in logistics.

A more than 150-page report is developed to help in your business decisions.

Pallet Truck by Segment

The study includes a forecast for the global pallet truck by type, application, and region.

Pallet Truck Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Manual Pallet Truck
• Electric Pallet Truck

Pallet Truck Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Retail Store
• Warehousing
• Manufacturing Plant
• Job Site
• Others

Pallet Truck Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Pallet Truck Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies pallet truck companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the pallet truck companies profiled in this report include-

• Toyota Industries
• Hyster Company
• Jungheinrich
• Still
• Godrej Material Handling
• Rico Manufacturing
• Niuli Machiner
• PR Industrial
• Nido Machineries
• Crown Equipment

Pallet Truck Market Insights

Lucintel forecasts that electric pallet truck is expected to witness highest growth over the forecast period due to simple to operate and offer enhanced safety for goods or products.

Within this market, manufacturing plant will remain the highest segment due to production facilities for food and beverages, steel, and various other industries.

APAC is expected to witness highest growth over the forecast period due to competitive scenario in the industry.

Features of the Global Pallet Truck Market

Market Size Estimates: Pallet truck market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Pallet truck market size by type, application, and region in terms of value ($B).

Regional Analysis: Pallet truck market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the pallet truck market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the pallet truck market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the growth forecast for pallet truck market?

Answer: The global pallet truck market is expected to grow with a CAGR of 7.8% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the pallet truck market?

Answer: The major drivers for this market are increasing demand to minimize carbon emissions, expanding healthcare sector and the integration of electric technology in logistics.

Q3. What are the major segments for pallet truck market?

Answer: The future of the pallet truck market looks promising with opportunities in the retail store, warehousing, manufacturing plant, and job site markets.

Q4. Who are the key pallet truck market companies?

Answer: Some of the key pallet truck companies are as follows.

• Toyota Industries
• Hyster Company
• Jungheinrich
• Still
• Godrej Material Handling
• Rico Manufacturing
• Niuli Machiner
• PR Industrial
• Nido Machineries
• Crown Equipment

Q5. Which pallet truck market segment will be the largest in future?

Answer: Lucintel forecasts that electric pallet truck is expected to witness highest growth over the forecast period due to simple to operate and offer enhanced safety for goods or products.

Q6. In pallet truck market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to competitive scenario in the industry.

Q7. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the pallet truck market by type (manual pallet truck and electric pallet truck), application (retail store, warehousing, manufacturing plant, job site, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?