The rising standard of operations in goods transportation is helping the global pallets market grow. As per Fortune Business Insight’s newly published report, titled “Pallets Market” Global Market Analysis, Insights and Forecast, 2020-2026” which was valued at US$ 59.91 Bn in 2018 is anticipated to expand at 5.1% CAGR between 2018 and 2026 to reach US$ 88.69 Bn. These global standards are expected to necessitate the adoption of pallets during the forecast period.
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Key Companies Covered in the Report
- PECO Pallet, Inc.
- Cabka Group GmbH
- PalletOne, Inc.
- Brambles Ltd.
- Schoeller Allibert Group B.V.
- Loscam Australia Pty Ltd
- Craemer Holding GmbH
- ORBIS Corporation
- Falkenhahn AG
- C.N Inc
Wood Pallets Cover the Maximum Share Owing to their Numerous Features
Among different types of pallet materials such as injection molding pallets, corrugated paper pallets, and oxo-biodegradable pallets, wood pallets are anticipated to account for the largest share in the global market during the forecast period. These pallets are preferred over others owing to their massive benefits such as reduced startup cost and less response time in terms of customized designs. Other benefits offered by wood pallets is that they can be repairable and have high strength. On the other hand, wood pallets are not sustainable in terms of food compliance. Also, these cannot be reusable, therefore, plastic pallets are likely to gain traction in the forthcoming years. Plastic pallets are more durable and lightweight, which will augment their demand among consumers.
Pallets Market Landscape and Market Scenario Includes:
- Current market size estimate
- Revenues by players Top Companies
- Market size by product categories
- Market size by regions/country
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Market Registers Impressive Growth in MEA Owing to Saudi Arabia’s New Waste Management Technologies
The pallet utilization is expected to be high in Asia Pacific during the forecast years. In 2018, the market was valued at US$ 14.77 Bn and is anticipated to lead the global Pallets Market in the next few years. The region registers the highest adoption of plastic and wooden pallets for massive imports and exports of goods. Countries such as China and India are likely to be the most progressive markets in the forecast years.
Important Features that are under Offering and Key Highlights of the Market Report:
- Detailed overview of Market Share
- Changing market dynamics of the industry
- In-depth market segmentation by Type, Application, etc.
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising market growth
The market in the MEA (the Middle East and Africa) generated a value of US$ 6.18 Bn in the year 2018. The market is expected to grow in this region owing to the rising adoption of plastic pallets, especially in the logistics and transportation industry. Among countries in MEA, Saudi Arabia adopted novel technologies for waste recycling management. Furthermore, the country produced around 15 million tons of municipal waste every year. It is planning to continue adopting new technologies in order to reproduce and recycle plastic products for material handling equipment and industrial handling equipment.
Segmentation of Pallets Market Report
1. By Material Type
- Composite Wood
2. By Application
- Food & Beverages
- Warehousing & Transportation
3. By Geography
- North America (U.S. and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico and Rest of Latin America)
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CHEP’s New Technologies for Developing Lightweight Plastic Pallets Garners Growth
Pallets manufacturers are paying a lot of attention to develop plastic pallets with the emergence of advanced technologies such as automation processes. Moreover, the demand for plastic pallets is increasing as these are easy to clean.
A lead analyst at Fortune Business Insights said, “As plastic pallets are environmental-friendly, new users are also expected to adopt these pallets in the forecast horizon.” He added, “Raising awareness about reducing carbon footprint is further increasing sales of plastic pallets, thus driving the Pallets Market.”
Queries Addressed In Pallets Market Report:
- What opportunities are present for the market players to enhance their business footprint?
- What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
- Which segment is witnessing huge traction from the consumers?
- For what purposes, is the market being utilized?
- How many units are estimated to be sold in 2020?
CHEP- A Brambles Company has adopted novel technologies to develop plastic pallets. The aim of the company is to offer lightweight and durable products across several industries.
People across the world are increasingly investing in infrastructural and housing activities consequently with rising per capita income and rapid industrialization. This, along with rapid urbanization, is driving the global market.
Companies Developing Innovative Pallets to Fulfil Their Customer Requirements
Several players are engaged in manufacturing pallets to gain a better position in the market. These companies are continuously working on customizations as per their customers to stay ahead of the competition. Furthermore, they focus on developing durable, efficient, and light pallet products for their consumers. The transportation and warehousing consumers need smart and innovative pallets to track their flow for effective management. Considering such requirements, companies are manufacturing radio frequency identification (RFID) pallets to keep a better track of pallets. For instance, The Schoeller Allibert Time or SAT offers material management and logistics systems incorporated with RFID chips.
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Key Features of Market Research Report:
- This report provides detail analysis of the Pallets market and have a comprehensive understanding of the market and its commercial landscape.
- Learn about the various Pallets market strategies that are being adopted by leading companies.
- It provides a five-year forecast assessed based on how the market is predicted to grow.
- It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
- To understand the future scope and outlooks for the Pallets market.
- Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
- Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
- Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
- The global market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
- Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
- Market Report also mentions market share accrued by each product in the market, along with the production growth.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Table of Content
5. Global Pallets Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summar
5.2. Market Sizing Estimations and Forecasts – By Material Type (US$ Mn)
5.2.3. Composite Wood
5.3. Market Sizing Estimations and Forecasts – By Application (US$ Mn)
5.3.2. Food & Beverages
5.3.4. Warehousing & Transportation
5.4. Market Analysis, Insights and Forecast – By Geography (US$ Mn)
5.4.3. Asia Pacific
5.4.4. Middle East and Africa
5.4.5. Latin America
6. North America Pallets Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Sizing Estimations and Forecasts – By Material Type (US$ Mn)
6.2.3. Composite Wood
6.3. Market Sizing Estimations and Forecasts – By Application (US$ Mn)
6.3.2. Food & Beverages
6.3.4. Warehousing & Transportation
6.4. Market Analysis, Insights and Forecast – By Country (US$ Mn)
6.4.1. United States
6.4.3. Rest ofNorth America
7. Europe Pallets Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Sizing Estimations and Forecasts – By Material Type (US$ Mn)
7.2.3. Composite Wood
7.3. Market Sizing Estimations and Forecasts – By Application (US$ Mn)
7.3.2. Food & Beverages
7.3.4. Warehousing & Transportation
7.4. Market Analysis, Insights and Forecast – By Country (US$ Mn)
7.4.4. Rest ofEurope
8. Asia Pacific Pallets Market Analysis, Insights and Forecast, 2015-2026
8.1. Key Findings / Summary
8.2. Market Sizing Estimations and Forecasts – By Material Type (US$ Mn)
8.2.3. Composite Wood
8.3. Market Sizing Estimation sand Forecasts – By Application (US$ Mn)
8.3.2. Food & Beverages
8.3.4. Warehousing & Transportation
8.4. Market Analysis, Insights and Forecast – By Country (US$ Mn)
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