Pallet truck is a type of equipment used in the operation of industrial applications and equipment. Pallet trucks are required for easy operation of equipment and movement. They are used in the material handling and movement processes. These equipment are employed in an industrial setting, as they enable the movement and handling of loads heavier than those that can be done by a human alone. Pallet trucks are used to move material and equipment when it cannot be done by a worker. They ensure better production efficiency and throughput. The applications are across industrial settings and also in the warehouses, if the pallet truck is being used for material handling and movement. Demand for pallet trucks is contingent on the growth trajectory of the warehousing and manufacturing industries. Pallet truck ensure that the machine operator’s hands are free to perform other tasks and thus ensure a good level of productivity, ultimately resulting in a higher rate of production.

Growing industrialization is anticipated to drive the demand for pallet trucks, especially from non-traditional industries in growing economies in Asia Pacific. Growth in the manufacturing industry is expected to provide lucrative opportunities to manufacturers of pallet truck due to their wide-spread applications. Furthermore, companies are expanding their reach in newer markets. This, in turn, is likely to drive the global pallet truck market during the forecast period. Other drivers of the market include new product development, mergers & acquisitions, and partnerships among players in the pallet truck market.

Stiff competition and rising concerns regarding the efficacy of pallet trucks are expected to restrain the global market during the forecast period. Increasing competition in the market due to presence of a large number of manufacturers is expected to restrain the manufacturers in the short to medium period as a result of competition in this sector. This makes the global pallet truck market fragmented in nature.

Rising industrialization and brand awareness are anticipated to create opportunity for manufacturers operating in the global pallet truck market. With rising industrialization, manufacturers are expected to spend larger amounts on purchase of pallet truck to ease operations within their manufacturing facilities and at the same time spend more time researching the model most suitable for their needs. This creates opportunities in the market. Moreover, as industrialization leads to diversifying manufacturing needs, the potential market for pallet truck is expected to witness a rise.

The global pallet truck market can be segmented in terms of operating mode, lifting capacity, end-user, distribution channel, and region. Based on operating mode, the market can be bifurcated into manual and electric. In terms of lifting capacity, the pallet truck market can be divided into up to 2000kg, 2000kg to 5000kg, and above 5000kg. Based on end-user, the market can be segregated into industrial and medical. The industrial segment include ironing machinery, construction machines, bending machines, sand blasting machines, and machine tools. In terms of distribution channel, the market can be segregated into online and offline. The offline segment can be sub-classified into direct store sales or official company distributors. Based on region, the global pallet truck market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Nido Machineries Pvt Ltd, CUMI MHE, Godrej & Boyce Manufacturing Co. Ltd, Linde Material Handling, PalleTrucks-Trolleys, Jost's Engineering Company Limited, Toyota Material Handling Europe AB, PTB Special Product, Jungheinrich AG, and Crown Equipment Corporation are some  key manufacturers operating in the global pallet truck market. The main strategy adopted by these companies and their peers is new and innovative product launches and targeted marketing activities to capture new markets and consolidate their position in the existing markets.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold 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.

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
  • Europe
  • 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.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Pallet Truck Market

Pre Book