The study has envisaged North America to lead the pallet trucks market, driven by increasing warehousing space that has influenced real estate, supply chains, and technology advancements in material handling since the recent past. Most companies in North America are focusing on the implementation of warehouse management system, in a bid to be more efficient and effective in ecommerce and beyond. This will spur demand for critical material handling machinery such as pallet trucks in the region.
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Pallet Trucks Market: Electric Pallet Trucks Spearhead with Hydraulic Counterparts on the Trail
Ever-growing development of the electric and hydraulic technology is currently leading the pallet truck advancements beyond transportation of heavy goods toward prevention of musculoskeletal injuries in the material handling industry. According to the study, electric technology will remain at the forefront of the pallet trucks market, trailed by the hydraulic technology.
Modern day pallet trucks, through combination of electric and hydraulic technology, are being motorized for enabling effective lifting & transportation of heavy stacked pallets. Additionally, novel safety features in these powered pallet trucks, such as dead man’s switch, enable taking necessary actions such as halting the machine during emergency situations.
Pallet Trucks Market: Development of Advanced Application-Specific Product Variants Bolstering Growth
Numerous advanced pallet trucks’ availability across the globe have driven their demand across industrial sectors, with focus toward production evolving in tandem with application areas. Manual stackers, for instance, demonstrate increased demand in safe, quick, and convenient lifting & transportation of palletized loads. High-lift pallet trucks have been developed, which incorporate features such as lateral stabilizers and telescopic jacks, thereby enabling automatic speed decline to prevent damages to heavy cargo.
Ever-growing development of the electric hydraulic technology is currently leading the pallet truck advancements beyond transportation of heavy goods toward prevention of musculoskeletal injuries in the material handling industry. Modern day pallet trucks, through combination of hydraulic and electric technology, are being motorized for enabling effective lifting & transportation of heavy stacked pallets. Additionally, novel safety features in these powered pallet trucks, such as dead man’s switch, enable taking necessary actions such as halting the machine during emergency situations.
Automatic Guided Pallet Trucks Emerge as a Key Opportunity
Automatic guided vehicles (AGVs) are controlled from outside and confined to programmed movements. A typical automatic guided pallet trucks employed in warehouses trail a programmed or pre-fixed route, and are unable to navigate around barriers or obstacles. Requirement of human intervention for clearing obstacles and restarting the equipment have led manufacturers to concentrate on advancements and upgradation in these pallet trucks.
Raymond’s Courier, Linde’s T-Matic, and Yale’s Driven by Baylo are key developments made in automatic guided pallet trucks that go beyond functioning of AGVs, moving independently around warehouses for lifting & storing pallets. A wide range of technologies, such as vision guidance systems, lasers, and GPS, are being incorporated in pallet trucks by manufacturers, enabling the equipment in mapping and navigating their environment. Such developments will significantly rub off on demand for pallet trucks in the near future
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Table of content:
- Executive Summary
1.1. Summarizing Key Findings
1.2. Trends and Developments
1.3. Strategic Themes
1.4. Highlighting Action Area – Wheel of Fortune
- Global Pallet Trucks Market Overview
2.2. Market Definition and Scope
2.3. Market Taxonomy and Segments Captured
- Global Pallet Trucks Market Outlook
3.1. Market Size (US$ Mn), Volume (‘000 Units) and Forecast, 2012-2028
3.2. Market Y-o-Y Growth
3.3. Forecast Factors and Relevance of Impact
- Global Pallet Trucks Market Dynamics
- Supply Chain and Value Chain Assessment
- Actionable Insights and Analysis
6.1. Technology Roadmap
6.2. Competition Footprint Matrix
6.3. Scenario Forecast
6.4. PESTLE Analysis
6.5. Porter's Five Forces Analysis
6.6. Product Life Cycle
6.7. Investment Feasibility Matrix
6.8. Key Participants Market Presence (Intensity Map) By Region
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