Global Pallets Market 2019 | Clinical Analysis, Latest Innovations, Impacting Factors, Growth opportunities, Drivers, Dynamics And Strategic Research, Challenges By 2026
Pune, India - August 9, 2019 /MarketersMedia/ —
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, 2019-2026” 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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Wood Pallets Cover the Maximum Share Owing to their Numerous Features
Among different types of pallet materials such as injection moulding 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.
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 pallet 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.
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.
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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.
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.
Table of Content
Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology and Assumptions
Executive Summary
Market Dynamics
3.1. Drivers, Restraints and Opportunities
3.2. Emerging Trends of Market
Key Insights
4.1. Macro and Micro Economic Factors
4.2. Key Technological Developments
4.3. Regulatory Analysis
4.4. Industrial SWOT Analysis
Global Pallets Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Sizing Estimations and Forecasts – By Material Type (US$ Mn)
5.2.1. Wood
5.2.2. Plastic
5.2.3. Composite Wood
TOC Continued…!
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