Metal Pallet Market: Overview
A metal pallet is a flat metal-based structure which supports the goods in an organized and fashionable manner while forming a structural foundation of a unit load which allows handling and storage efficiencies. Compared to other Pallet made of plastic or wood, a metal pallet is a convenient pallet for different application due to its capability of lifting heavy components. The metal Pallet made of steel is a great solution for the companies under the packaging industry who are looking forward to moving very heavy loads on a single pallet. The rising demand for strong, durable and heavy-duty Pallet is expected to set a good growth curve for the market of metal Pallet.
Metal Pallet Market: Dynamics
In today’s world the increasing number of construction and automotive work is driving the growth of the metal Pallet in the packaging solution. The rising number of hotel construction, airport construction, educational and research institute construction, continuous innovation in the automotive industry is fuelling the growth of the metal Pallet market. Metal Pallet are excellent in providing all safety as the Pallet are non-breakable. These Pallet do not contaminate generally, they are virtually maintenance-free come with a specific time of guarantee provided by the manufacturers while other Pallet show the exact opposite characteristics. For these reasons, the metal Pallet are easily replacing the wooden and plastic Pallet in the industry, which is creating new opportunities for steel Pallet in the packaging industry. Other than these qualities, metal Pallet are completely fireproof and these are adaptable to almost every form of atmospheric change (except for very hot weather). Most importantly the Pallet are suited in an ASRS (Automated Storage and Retrieval System) equipment perfectly as it works without any hassle on the conveyor belts of the material handling conveyor system which is accelerating the growth of the metal pallet in the market. Optimized supply chain and improved sustainability are also playing major roles in driving the growth of the market. But the metal Pallet are much more expensive than other Pallet and these are heavier in weight which might restrain the growth of the metal Pallet market.
Metal Pallet Market: Covid-19 Impact
The pandemic disease created by coronavirus has already spread all over the globe. It has affected different firms and industries negatively and metal Pallet market shows no exception. The metal Pallet market is showing its downward curve as the management in the supply chain has been disrupted and it has slightly declined the growth for metal Pallet. For instance, the automotive industry, a major consumer of US steel, may already be slowing down production in numerous plants and the engineering and construction industry is experiencing its slowdown. With some construction sites locked down in this situation could contribute to reduced demand for steel or metal products.
Metal Pallet Market: Segmentation
Metal Pallet market is segmented by material, style, design and end-use.
By Pallet type, the metal pallet market is segmented as follows:
- Block Pallet
- Stringer Pallet
By design, the metal pallet market is segmented as follows:
- Two-way entry
- Four-way entry
- Open Deck Pallet
- Solid Deck Pallet
- Double Face Pallet
By end-use the metal pallet market is segmented as follows:
- Chemical industry
- Food Processing/Handling
- Building & Construction
- Storage & Warehousing
Metal Pallet Market: Regional Outlook
North America region is leading the metal Pallet market by producing highest revenue share followed by the market presence in Europe due to the rapidly growing industrial sectors and urbanization growth along with the growing number of activities in production among various industries like chemical and pharmaceuticals, construction, and others in different countries (such as Canada, US, Germany, Italy, and France in these regions). Asia-Pacific region is showing the fastest growth due to its highest amount of involvement in the import-export business in the countries like China and India present in the region. The Middle East & Africa and Latin America are expected to show a moderate growth rate in the upcoming years due to its rising penetration in different project related to the automotive industry.
Metal Pallet Market: Key Manufacturers
- Plain Pallets Pty Ltd
- Mecalux, S.A
- Millwood, Inc
- Giraffe Storage Solution
- NEFAB Group
- Aceally (International) Co.,Ltd
- Wap Intelligence Storage Equipment (Shanghai) Corp. Ltd
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.