Composite Pallet Market – Introduction
Pallet is a form of tertiary wrapping, a flat structure used as a base for unitization of goods in the value chain. Moreover, composite pallet is a rigid, portable, horizontal platform that is used as a base for stacking, assembling, storing, transporting, and handling goods as a unit load and is often equipped with superstructure. Additionally, the superstructure is an assembly, which is connected to the secondary base of the pallet.
Composite Pallet Market – Competitive Landscape
Founded in 1948, Pfeifer Group is headquartered in Fabrikstrasse, Switzerland, Europe. The company manufactures and distributes a wide range of wood, and provides plywood, formwork girders, lumber, swan timber, pallet blocks, solid wood panels, and wood briquettes. In 2016, the company acquired Holzindustrie Chanovice s.r.o., a timber industry from its parent company, the Haas Group. The company has its production sites in Europe in Imst, Kundl, Unterbernbach, Uelzen, Lauterbach, Schlitz, Trhanov, and Chanovice.
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Bastian Solutions, Inc.
Incorporated in 1952, Bastian Solutions, Inc. is based in Indianapolis, Indiana, the U.S. The company designs, produce, and sells material handling equipment as well as information systems connected with proven operational strategies. The company offers conveyors, lift, load, and work positioners, carts, dollies, trucks, and moving equipment, bins, totes, and pallets, workstations & workbenches, safety equipment & ergonomic matting, casters, storage, shelving, and racking, etc. Moreover, the company provides various technologies, such as order fulfillment, sortation, picking technologies, WMS & WCS, automated guided vehicles, and mobile robotics. The company provides it products and services to various industries, including industrial distribution, manufacturing, aerospace, automotive, consumer goods, food & beverages, pharmaceutical, retail & apparel, and third party logistics. The company has presence in North America, Europe, Asia Pacific, and Latin America.
Based in Hong Kong, China, LOSCAM has over 77 years of experience in designing and manufacturing returnable package handling solutions and equipment. The company offers pallets, cages, collars & lids, crates, bins, IBC, and transporting, distributing, and retailing products. It provides various solutions to its clients in retail, hardware, consumer products, automotive, agriculture, horticulture, and industrial sectors, globally. The company has offices in more than 23 countries across the Asia Pacific region.
Major companies operating in the global composite pallet market include Flo-Pallet Inc., Shanghai Seven Trust Industry Co., ltd, RM2. International, LOSCAM, Schoeller Allibert, CABKA Group, German Plant Experience Pty Ltd (RHINO), Pfeifer Group, Bastian Solutions, Inc., and Millwood, Inc.
The global composite pallets market is fragmented, owing to the presence of various composite and wooden composite pallet manufacturers, pallet pooling firms, pallet recycling specialists, and pallet management companies. The level of competition between the payers in the market is high, and producers are focusing on introducing new technologies and providing personalized products to customers. Moreover, a number of payers are adopting strategies, such as mergers, acquisitions, and partnerships to gain competitive edge in the global market.
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Global Composite Pallet Market – Driver
Rising Consumer Spending on Infrastructural Activities
The global composite pallet market is anticipated to witness considerable growth during the forecast year due to rise in consumer expenditure on infrastructural activities and recovery of various industries, such as housing and construction. Moreover, improving global economy is driving consumer spending on construction and housing activities, which is likely to boost the demand for composite pallets in the near future.
Global Composite Pallet Market – Segmentation
The global composite pallet market can be segmented based on:
Composite Pallet Market, by Application
In terms of application, the global composite pallet market can be segregated into:
- Food & Beverage
- Metal & Machinery
The report on the global composite pallet market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.