Demand for Battery-Powered Pallet Jacks Is Projected to Expand at a CAGR of Nearly 9% Over The Forecast Period

Pallet Jack Market

Pallet Jack Market Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2020 to 2030

ROCKVILLE, MARYLAND, UNITED STATES, September 28, 2021 /EINPresswire.com/ — The global pallet jack market is niche in nature, and is projected to rise at a value CAGR of 9% over the forecast period. Pallet jacks are primarily used in factory or warehouse premises to move material. The outbreak of COVID-19 will have a marginal effect on the demand for pallet jacks. Sales are projected to decline by 8,000 units in 2020 as compared to 2019. However, the resumption of manufacturing operations in prominent countries such as China, the US, India, and Germany would boost the growth of the pallet jack market in the near future.

According to Fact.MR, global demand for pallet jacks will hit a valuation of US$ 242 million by 2030 end.

“Nowadays, preference for pallet jacks on rental basis rather than purchasing has become a key trend among various end-use verticals. New entrants in the rental business are frequently examining the workflow and modernizing their business processes, which, in turn, is foreseen to boost the growth of the pallet jack market,”says a Fact.MR analyst.

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Key Takeaways from Global Pallet Jack Market Study

The powered pallet jacks segment is expected to account for more than 60% of total pallet jack sales in 2020.
There will be close competition in end-use segments between the automotive and pharmaceutical sectors for pallet jack sales over the forecast period.
The below 2.5 tons segment leads the pallet jack market, and will gain 180 BPS in its market share by the end of 2030.
Europe is foreseen to remain a prominent region, accounting for more than 40% of the global share in the pallet jack market.
pallet jack market analysis value share and opportunity by end use

Key Segments of Pallet Jack Market

Fact.MR’s study on the pallet jack market offers information divided into four important segments – product, capacity, end use, and regional analysis. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Product

Manual Pallet Jacks
Powered Pallet Jacks

Capacity

Below 2.5 Tons
2.5 to 5 Tons
Above 5 Tons

End Use

Logistics
Retail
Manufacturing
Food & Beverages
Automotive
Pharmaceuticals
Chemicals
General Manufacturing
Aerospace & Defence

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

Regional analysis includes

North America (U.S., Canada)
Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
CIS & Russia
Japan
Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa, Rest of MEA)

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Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the Pallet Jack Market during the forecast period.

Country-specific valuation on demand for Pallet Jack Markets has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the Pallet Jack Market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

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The Report Covers Exhaustive Analysis On:

Market Segments
Market Dynamics
Market Size & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

The Pallet Jack Market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some of the key aspects that will shape the growth prospects during the forecast period are objectively covered in the study.

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