Pallet Trucks Market by End-user and Geography - Forecast and Analysis 2020-2024

  • Published: Dec 2020
  • Pages: 120
  • SKU: IRTNTR45895
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The pallet trucks market size has the potential to grow by USD 989.50 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (automotive industry, food and beverage industry, retail industry, and other industries) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Crown Equipment Corp., Godrej & Boyce Manufacturing Co. Ltd., Uvundlu Investments Holdings (Pty) Ltd., Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries Co. Ltd., Jungheinrich AG, KION GROUP AG, Noveltek Industrial Manufacturing Inc., Presto Lifts Inc., and Toyota Motor Corp.

Market Overview

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Market Competitive Analysis

The pallet trucks market is fragmented. Crown Equipment Corp., Godrej & Boyce Manufacturing Co. Ltd., and Uvundlu Investments Holdings (Pty) Ltd. are some of the major market participants. Factors such as the rising need for pallet trucks, the increasing demand for packaged food and beverages, and the rising growth in e-commerce retail will offer immense growth opportunities. However, the perceived disadvantages of electric pallet trucks, rising sizes of warehouses, and increased use of vertical space in warehouses may impede the market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this pallet trucks market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this pallet trucks market analysis report provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Crown Equipment Corp.
  • Godrej & Boyce Manufacturing Co. Ltd.
  • Uvundlu Investments Holdings (Pty) Ltd.
  • Hyster-Yale Materials Handling Inc.
  • Hyundai Heavy Industries Co. Ltd.
  • Jungheinrich AG
  • KION GROUP AG
  • Noveltek Industrial Manufacturing Inc.
  • Presto Lifts Inc.
  • Toyota Motor Corp.

 

Pallet Trucks Market: Segmentation by Geography

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The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. APAC will offer several growth opportunities to market vendors during the forecast period. The increased R&D of new types of batteries, the rising popularity of autonomous vehicles, and growing innovations in the pallet trucks market will significantly influence pallet trucks market growth in this region.

53% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for pallet trucks in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the pallet trucks market size.

Pallet Trucks Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive pallet trucks market growth during the next five years
  • Precise estimation of the pallet trucks market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the pallet trucks industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of pallet trucks market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019-2024

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Automotive industry - Market size and forecast 2019-2024
    • Food and beverage industry - Market size and forecast 2019-2024
    • Retail industry - Market size and forecast 2019-2024
    • Other industries - Market size and forecast 2019-2024
    • Market opportunity by End-user

    Customer Landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2019-2024
      • Europe - Market size and forecast 2019-2024
      • North America - Market size and forecast 2019-2024
      • South America - Market size and forecast 2019-2024
      • MEA - Market size and forecast 2019-2024
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Crown Equipment Corp.
      • Godrej & Boyce Manufacturing Co. Ltd.
      • Uvundlu Investments Holdings (Pty) Ltd.
      • Hyster-Yale Materials Handling Inc.
      • Hyundai Heavy Industries Co. Ltd.
      • Jungheinrich AG
      • KION GROUP AG
      • Noveltek Industrial Manufacturing Inc.
      • Presto Lifts Inc.
      • Toyota Motor Corp.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The pallet trucks market growth will increase by $989.50 million during 2019-2024.
      The pallet trucks market is expected to grow at a CAGR of 3.91% during 2019-2024.
      Technavio has segmented the pallet trucks market by end user (Automotive industry, Food and beverage industry, Retail industry, and Other industries) and geographic (APAC, Europe, North America, South America, and MEA).
      Crown Equipment Corp., Godrej & Boyce Manufacturing Co. Ltd., Uvundlu Investments Holdings (Pty) Ltd., Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries Co. Ltd., Jungheinrich AG, KION GROUP AG, Noveltek Industrial Manufacturing Inc., Presto Lifts Inc., Toyota Motor Corp. are a few of the key vendors in the pallet trucks market.
      APAC will register the highest growth rate of 52.54% among the other regions. Therefore, the pallet trucks market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the pallet trucks market growth are:
      • Rising need for pallet trucks
      • Increased R&D of new types of batteries
      The pallet trucks market vendors should focus on grabbing business opportunities from the automotive industry segment as it accounted for the largest market share in the base year.
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