According to a report from Fact.MR, the global pallet trucks market is poised to grow at a positive CAGR of ~ 6.9% over the forecast period (2019-2028). The market has witnessed significant traction in the past couple of years owing to penetrative e-commerce and heightened demand for warehouses. The use of material handling equipment in warehouses for shipment of goods has boosted the adoption of Pallet trucks to facilitate movement and storage.
The soaring demand for material handling equipment to enhance functional efficiency is further foreseen to augment the growth prospects of the pallet trucks market. The utilization of pallet trucks to enhance workplace safety and productivity are some of the factors further reinforcing its adoption. Owing to the proliferation of pallet trucks with technological advancements such as automated guided vehicles and growth of Logistics & Wholesale distribution, the market is foreseen to auger well over the forecast period. Bead Breaker Machine
The report reveals some of the prominent market players, including Toyota Industries Corporation, Kion Group, Mitsubishi Logisnest Company, Jungheinrich AG, and Crown Equipments who are continuously focusing on geographical expansion and partnerships with prominent manufacturers with industrial expertise in order to increase their presence in the global market.
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