According to IMARC Group’s latest report, “Pallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global pallet market size reached a value of US$ 57.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 75.9 Billion by 2027, exhibiting at a CAGR of 4.9% during 2022-2027.
Pallets are horizontal platforms which offer a base for storing, handling, assembling and transporting products and materials. They are a type of tertiary packaging affixed with a superstructure and a bottom. Pallets are portable and easy to handle as they help in simplifying the process of loading and unloading and ensure safe delivery of the product. As a result, they are extensively used by suppliers and manufacturers of commercial goods across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Pallet Market Trends:
There has been a rise in the expenditure on both housing and infrastructure activities owing to a significant increase in disposable incomes and rapid urbanisation. this is one of the major factors which has been propelling the market growth. Manufacturers have increasingly started using multiple-trip pallets instead of single-trip pallets as they offer lower cost per-trip, eliminate solid waste and enhance operational efficiency. this has, in turn, positively influenced the growth of the market. Over the past years, there has been a significant development in the logistics and transportation sectors as well as trade volume of numerous emerging nations which have contributed towards an augmented demand for pallets across the globe. the limited availability of pallets and increasing cost of raw materials are some of the other factors which act as major factors impeding the growth of the global pallet market.
Pallet Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the pallet market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
The report has segmented the pallet market on the basis of breakup by type, application, structural design and region.
Breakup by Type:
Breakup by Application:
Breakup by Structural Design:
Breakup by Region:
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Key Highlights of the Report:
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