Pallet Jacks Market is Set to Experience Revolutionary Growth by 2027

Pallet Jacks – Market Outlook

Pallet jacks are also called as fork lifts or pallet trucks. These are used for material handling in warehouses, manufacturing, etc. These are commonly made of stainless steel. Starting from First Industrial Revolution, which used steam power to automate the production to Fourth industrial revolution, which is drven by digitization, material handling has transformed into new form in each phases. Now fully automated electric pallet jacks with high load capacity are available in the market. Pallet jacks play a vital role in material handling. These help in loading and unloading of the bulk goods. These are also used in inbound transportation of bulk goods from one corner of the warehouse or production floor to other corner. Manufacturers are very much concerned about their production efficiency and reducing the lead times. Material handling is a time consuming process if not handled properly, which may result into unproductivity and not meeting the production targets and deadlines. Manufacturers are continuously investing in transformation of their production facilities to modern technologies. Automating the material handling process improves production efficiency and reduce the lead times. Labor cost can also be optimized in the long term, as technology & equipment require a one time investment.

Global pallet jacks market has a considerable correlation with global material handling equpments (MHE) market. Global material handling equipments market is estimated to reach approximately US$ 120.0 Billion, by 2018. The global MHE market is expected to driven by emerging markets e.g. India, China, Brazil, South Africa, Nigeria. Rising industrilization in Asia Pacific, Latin America and Africa regions is expected to drive the regional growth during the forecast period.

Request to Sample Report – https://www.futuremarketinsights.com/reports/sample/rep-gb-6577

Global Pallet Jacks Market: Segmentation

The global pallet jacks market has been segmented as follows –

On the basis of product type, the global pallet jacks market has been segmented as –

Manual
Electric

On the basis of load capacity, the global pallet jacks market has been segmented as –

Standard
High Lift

On the basis of end use, the global pallet jacks market has been segmented as –

Retail store
Warehousing
Manufacturing plant
Others

On the basis of geography, the global pallet jacks market has been divided into seven key regions –

North America
Asia Pacific excluding Japan
Western Europe
Eastern Europe
Latin America
Middle East & Africa
Japan

Request Report TOC @ https://www.futuremarketinsights.com/toc/rep-gb-6577

Increasing adoption of advanced technologies, such as Internet of Things (IoT), RFID, robotics, smart labels, voice recognition etc. in material handling is driving the overall global pallet jacks market. Manufacturers want to automate the production process, especially material handling, so that the production efficiency can be enhanced. Manufacturers are leveraging manufacturing advantage to beat the fierce competition in market. Smart factories with smart material handling will reduce the labor cost and speed up the production process. Pallet jacks play a vital role in transportation of goods from warehouses to store shelves (inventory replenishment) at right time and right condition is vital in supermarkets and hyper markets. Growing competition from material handling processes such as conveyors and robots is hampering the demand for pallet jacks. Robots are smart compared to pallet jacks and avoid collisions and accidents during material handling process. Robots may not need human interference during material handling process unlike pallet jacks. As robots cost very high compared to pallet jacks, still pallet jacks dominate over robots and other substitute products, by market share in the global material handling equipment market.

Global Pallet Jacks market: Key Players

Some of the key players operating in the global pallet jacks market are – Toyota Motor Corporation, Jungheinrich AG, Raymond Corporation, Yale Materials Handling Corporation, Caterpillar Inc., Clark Material Handling Company Inc., Crown Equipment Corporation, Komatsu Ltd., UniCarriers Corp., Combilift Ltd., Godrej Material Handling, Carborundum Universal Limited (CUMI), Jost’s Engineering Company Limited, Patel Material Handling Equipment, Noveltek Industrial Manufacturing Inc., Niuli Machinery Manufacture Co., Ltd, Ningbo Ruyi Joint Stock Co., Ltd., SUZHOU PIONEER MATERIAL HANDLING EQUIPMENT&TECHNOLOGY CO.,LTD., Wesco Industrial Products, LLC and Mitsubishi Caterpillar Forklift America Inc. and others.

Browse Report@ https://www.futuremarketinsights.com/reports/pallet-jacks-market

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries:
 press@futuremarketinsights.com
Website:
 https://www.futuremarketinsights.com/

About the Author

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these