The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
The report offers actionable and valuable market insights of Pallet Trucks. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Pallet Trucks Market across various industries and regions.
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Internet, e-commerce and mobile communication are driving a revolution in the retail sector which, as a result, is changing the dynamics of warehousing and material handling, fueling the pallet truck demand.
The e-commerce boom is reshaping the entire supply chain, creating an upsurge in the production of pallet trucks. In addition, the adoption of electric vehicle technology in the material handling sector is foreseen to stimulate latent growth opportunities in the global pallet trucks market.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Pallet Trucks market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Pallet Trucks
This newly published and insightful report sheds light on Market Insights of Pallet Trucks, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Pallet Trucks Market.
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Key Segments of the Pallet trucks Market
Fact.MR’s study on the pallet trucks market offers information classified into four important segments: control type, product type, load capacity, and region. This market report proposes comprehensive data and information about the important market changing aspects and evolution structures related with these categories.
Control Type |
- Manual
- Semi Electric
- Electric
- Diesel
- Compressed Natural Gas (CNG)
- Others
|
Product Type |
- Standard
- Quarter
- Silent
- Weighing
- Scissor
|
Load Capacity |
- Below 2000 KG
- 2000-4000 KG
- 4000-6000 KG
- Above 6000 KG
|
Region |
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- India
- Japan
- South East Asia & Pacific
- Middle East & Africa
|
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Product Automation to be Key Winning Imperative
Industry leaders are focusing on investing significantly in a wide array of technologies, such as automation, IOT, vision guidance systems, lasers, and GPS. A growing need for automation and increasing labor costs fuel the market for the adoption of automatic guided vehicles (AGV).
For instance, In May 2019, Raymond Corporation launched automated lift truck stacker, the Raymond Courier 3030 stacker which utilizes automatic guided vehicle technology, moving independently around warehouses for lifting & storing pallets. Such developments will significantly rub off on demand for pallet trucks in the near future.
Key Takeaways of the Global Pallet trucks Market
- Electric and compressed natural gas based pallet trucks account for over 73% of the overall absolute dollar opportunity in global pallet trucks market by the end of the forecast period
- Collectively, Quarter and silent pallet trucks types are anticipated to hold ~35% in the overall incremental value opportunity over the projection period.
- Standard pallet trucks account for ~61% of the overall market share due to its Benefits such as high quality components and higher efficiency. This segment is estimated to register significant growth throughout the forecast duration.
- Wholesale distribution and logistics are the key sectors giving an uptick to pallet trucks demand, owing to which these segments are estimated to account for over 44% of value share in the overall market.
- South East Asia & Pacific are foreseen to expand ~2X by the end of the forecast period
“The Adoption of Electric Vehicle (EV) Technology in the Freight Sector is Foreseen to Open New Growth Avenues for Pallet Trucks Manufacturers”, says a Fact.MR analyst.
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More Valuable Insights on Pallet Trucks Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Pallet Trucks, Sales and Demand of Pallet Trucks, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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