Pallets Market Overview
The prominent trend observed in the global pallets market is the adoption of technologies for tracking the flow of pallets. These technologies include radio-frequency identification (RFID) chips to leverage data insights at pallet level to track products, automate inventory, streamline supply chain, and extend pallet lifecycle, and also to provide several other benefits. Moreover, growing demand for material-handling equipment, such as pallets, in various manufacturing industries is catering to the needs of the supply chain, retailers, and other businesses. Such factors are likely to pave the way for the adoption of pallets, globally.
The pallets market is classified into wood, composite, plastic, paper, metal, and others, based on material type. Among these, the wood category is expected to account for significant market share in coming years. This can be ascribed to the growing popularity of cost-effective, easily portable, environment-friendly, stiff, and durable wooden pallets.
The pallets market is categorized into block, stringer, and others, based on structural design. Out of these, the block category is expected to lead the market during the forecast period (2021–2030). This can be attributed to the fact that block pallets have high-bulk density, which helps in sustaining high pressure and high nail retention, owing to their more surface area, low need for repairs, and hold no cracking.
The pallets market is classified into pharmaceuticals, chemicals, construction, textiles, agriculture, electronics, transportation, food & beverages, and others, based on end use. Of these, the food & beverage category is projected to hold significant share in the market in coming years. This can be ascribed to the high usage of pallets in various food & beverage production facilities, such as bakeries, diaries, and retail stores, owing to the superior resistance to chemical and bacterial contamination.
Globally, North America is the largest market for pallets, and is expected to continue dominating the market during the forecast period. This is due to the presence of dominant manufacturing industries in the region. On the other hand, the Asia-Pacific (APAC) pallets market is expected to witness significant growth over the forecast period, on account of the rapid industrialization in emerging countries, such as India and China, and the rising demand for pallets from the packaging and automobile industries in the region.
Pallets Market Dynamics
Drivers
Increasing e-commerce sales via platforms like Alibaba and Amazon are boosting the demand for pallets in warehousing applications, worldwide. For instance, according to the United Nations Conference on Trade and Development, e-commerce sales stood at $25.6 trillion, globally, in 2018, up by around 8% from 2017. Due to the growing digitalization and online shopping, which further creates the demand for logistics services, the demand for pallets is rising, as these have safer rack stability and anti-slip trips for optimum performance; therefore, fostering the growth of the pallets market.
Restraints
Manufacturers of various products, including pharmaceuticals, chemicals, and electronics, are using a large range of pallet types, depending on customers’ requirement. This leads to the complication in equipment management across all operations, such as sourcing, stock management, and plant operations. These complications are expected to further hinder the pallets market growth in coming years.
Pallets Market Competitive Landscape
Some of the major companies operating in the global pallets market include Falkenhahn AG, CABKA Group GmbH, Commonwealth Handling Equipment Pool (CHEP), PGS Group, and PalletOne Inc.
The study provides the historical as well the forecast size for the pallets market.
Pallets Market Size Breakdown by Segments
The global pallets market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Material Type
- Wood
- Composite
- Plastic
- Paper
- Metal
Based on Structural Design
Based on Product Type
- Stackable
- Rackable
- Nestable
Based on Shape & Size
- Two-Way Pallets
- Four-Way Pallets
- Open Pallets
- Closed-Boarded Pallets
- Wing Pallets
- Reversible Pallets
Based on Usage
- New Pallets
- Used Pallets
- Recycle Pallets
- Heat-Treated Pallets
Based on End Use
- Pharmaceuticals
- Chemicals
- Construction
- Textiles
- Agriculture
- Electronics
- Transportation
- Food & Beverages
Geographical Analysis
- North America
- Europe
- U.K.
- France
- Germany
- Russia
- Italy
- Spain
- Asia-Pacific (APAC)
- Japan
- China
- India
- South Korea
- Latin America (LATAM)
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
