Pallet Market in China 2015-2019: New research report available at Fast Market Research

From: Fast Market Research, Inc.
Published: Wed Sep 09 2015

A pallet is a flat panel that support goods during their transportation. It provides ease of handling as palletized goods can be lifted by forklifts and pallet jacks. While most pallets are wooden, pallets made of plastic, metal, and corrugated paper are also available. The use of palletized storage and transportation is common in modern logistics as it provides operational efficiency in material handling and logistics.

Technavio's analysts forecast the pallet market in China to grow at a CAGR of 10.62% over the period 2014-2019.

Commenting on the report, an analyst from Technavio's team said: "Pallet pooling has huge potential in China, though it is still in the formative stage. Over the last three years, the pallet market in China has gone through a structural change from the one-time purchase model to the recycling and rental model. The pooling model reduces purchasing costs for end-users. Pallet manufacturers will have to shift from a manufacturing approach to building networks, depots, and infrastructure to adopt the pooling model. There is a high demand for pooling pallets from major retailers, manufacturers, and logistics service providers. Pallet rental and pooling help in preserving forests and natural resources."

According to the report, macroeconomic trends significantly influence the pallet market in China, as logistics and the transportation of goods are vital for economic growth. Government measures such as tax rebates, credit insurance, and financial guarantees have been favorable to the logistics sector in China. The government's efforts of moving toward domestic consumption and a focused economic model have led to a steady rise in household consumption, increased production, and an increase in warehousing activities.

Further, the report states that the main issue with the pallet market in China is the large number of pallet sizes in use.

The key players in the Pallet Market in China are CHEP (China), China Merchants, LogisALL Shanghai, Schoeller Allibert Services and Shanghai Lika Plastic Pallet Manufacturing while other prominent vendors include Jinyuan Group Wuhu Zhongshan Wood Packing, Packaging Engineering, Shandong Liyang Plastic Industry Group, Shanghai Tianjue Wood, Shanghai Xinpeng Plastics, Shanghai-ho Plastic Tray Manufacturing, Tianjin CIMC Logistics Equipment and Tianjin Development Zone

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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