Pallet Jacks Market Size, Share, Opportunities, And Trends By Product (Powdered Pallet Jack, Manual Pallet Jack), By Capacity (Below 2.5 Tonnes, 2.5-5 Tonnes, More Than 5 Tonnes), By End-User (Retail, Manufacturing, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Nov 2023
- Report Code : KSI061616177
- Pages : 141
The pallet jack market is projected to show steady growth during the forecast period.
Pallet jacks are tools for safely transporting bulky items from one place to another. In factories, warehouses, distribution centers, loading vehicles, and other industrial settings, lifting and moving big goods is helpful when this tool is employed. Pallet jacks save money and are simple to use. They require minimal upkeep. By adding the cost of dependability, performance, and flexibility to the overall cost, it reduces the operational cost. The pallet jack market is driven worldwide by the expansion of infrastructure and industry growth. Pallet jacks minimize the time and provide flexibility, which substantially enhances the product usability. The pallet jack industry is growing as a result of technological advancements. The operational costs of Pallet jacks are lower, and they are easier to operate. As product efficiency and safety levels rise, pallet jack demand is also expected to grow significantly over the forecast period.
A pallet jack is a compact hand-operated tool used to lift and transport huge items. To elevate or lower the object being moved, it generally comprises a platform with wheels at either end that may be lifted or lowered. Pallet jacks are often used to move heavy goods around effortlessly in warehouses and other industrial environments. They are occasionally used to carry goods around stores in the retail sector. The rise in demand for electric and manual Pallet jacks from a variety of end-use sectors, including industrial, supermarkets, and others, is responsible for the expansion of the pallet jack market. Furthermore, the market for Pallet jacks is expanding as a result of growing awareness regarding safety precautions when handling big objects.
- The rise of e-commerce is a major factor driving market growth: Pallet jacks are crucial for warehouse operations and are required by the expanding e-commerce sector, which is fueling considerable market expansion.
- Rise in technological advances is a prime reason fueling market expansion: A higher level of material handling equipment is required when automation is adopted more widely in many sectors. Pallet jacks are essential to automated warehouse systems, especially electric ones, as they increase production and efficiency.
- Strict regulatory conditions are also aiding in market expansion: The need for Pallet jacks with improved safety features is driven by strict laws and an increasing focus on worker safety. A safe working environment is guaranteed through advancements in stability, braking systems, and ergonomic designs hence the regulations by the authority are boosting growth.
- Integration of pallet jacks with IOT is boosting their efficiency hence these are widely accepted by industry players: The effectiveness of Pallet jacks is improved by the integration of IoT technologies, real-time tracking, and predictive maintenance capabilities. These characteristics make them essential in contemporary supply chain management and logistics and that is why it has become a prime reason motivating the industry player to adopt the pallet jack thus boosting market growth.
- Environment-friendly Pallet jacks usage is on the rise: With a worldwide drive toward sustainability, energy-efficient designs, recyclable materials, and eco-friendly Pallet jacks are gaining popularity to fulfill consumer needs while maintaining environmental requirements.
Products offered by key companies:
- A Series Pallet Truck With High Lift 2.0t, Hangcha: The A series pallet with high lift is a pedestrian pallet truck that may also be utilized for light stacking tasks and order picking. This pallet jack aids the load to be lifted to an overall height of 675 mm using a simplex mast that is housed inside the battery compartment in addition to the support arm lift. Order picking, replenishing shelves in retail establishments, and assembly line work in industrial businesses all benefit greatly from this height adjustment feature in this machine.
- RJ50N Hand Pallet Jack, Raymond: The Raymond RJ50N has a basic, robust design that is great for use in the warehouse, distribution center, etc. These dependable hand pallet jacks, which are frequently used on delivery trucks, have Raymond hand lift truck-like smooth handling and great mobility.
The prominent growth in the powered Pallet jacks sector under the End-User segment
The powered Pallet jacks segment dominates the market and is expected to continue with this dominance over the forecast period. Many small businesses and micro companies are making a seismic switch from manual Pallet jacks to motorized Pallet jacks to reduce their labor costs and increase movement efficiency within factories or commercial buildings. Sectors employ battery-powered Pallet jacks to increase job safety while reducing electricity expenses. Hence these are major factors that are attributable to the expansion of the powered Pallet jacks market.
The North American region is expected to hold a significant share of the pallet jack market:
The North American region is poised to develop significantly over the forecast period. The Pallet jack’s industry in North America is vibrant and essential to many sectors. The need for Pallet jacks is being driven by the expanding manufacturing and retail sectors as well as the e-commerce industry. Due to its effectiveness in minimizing physical stress on workers and boosting productivity, electric Pallet jacks have grown in popularity, especially in sizable distribution centers and warehouses. Safety and ergonomics are highly prioritized by the market player and Pallet jacks provide the same and thus are widely in demand. To comply with strict workplace rules, makers of Pallet jacks are including cutting-edge safety features and ergonomic designs. These developments not only promote worker safety but also general effectiveness. Another important development in this area is the growth of automation and IoT technologies. Sensor-equipped smart Pallet jacks with real-time tracking capabilities are widely available, allowing companies to enhance their supply chain processes. Additionally, pallet jack producers constantly innovate to fulfill the various demands of sectors, making the US market robust and fiercely competitive.
- To boost the effectiveness of eCommerce transactions, ePicker introduced a series of material handling tools in June 2021. These tools included stackers, pallet jacks, access vehicles, and more. For applications including eCommerce, automotive, retail, electronic components, and others, ePicker offers an excellent order experience while serving a range of sectors.
- BY PRODUCT
- Powdered Pallet Jack
- Manual Pallet Jack
- BY CAPACITY
- Below 2.5 Tonnes
- 2.5-5 Tonnes
- More than 5 Tonnes
- BY END-USER
- BY GEOGRAPHY
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. PALLET JACKS MARKET, BY PRODUCT
5.2. Powdered Pallet Jack
5.3. Manual Pallet Jack
6. PALLET JACKS MARKET, BY CAPACITY
6.2. Below 2.5 Tonnes
6.3. 2.5-5 Tonnes
6.4. More than 5 Tonnes
7. PALLET JACKS MARKET, BY CAPACITY
8. PALLET JACKS MARKET, BY GEOGRAPHY
8.2. North America
8.2.1. United States
8.3. South America
8.4.1. United Kingdom
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. The Raymond Corporation
10.3. Jungheinrich AG
10.4. Hyster-Yale Group, Inc.
10.5. Mitsubishi Logisnext Americas Inc.
10.6. Crown Equipment Corporation
10.8. Doosan Industrial Vehicle
10.9. Hangcha Forklift
The Raymond Corporation
Mitsubishi Logisnext Americas Inc.
Crown Equipment Corporation
Doosan Industrial Vehicle
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