Market Overview:
The global power pallet trucks market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for power pallet trucks from various end-use industries, such as retail stores, warehousing, and manufacturing plants. Additionally, the growing demand for electric power pallet trucks is also contributing to the growth of this market.
Product Definition:
A power pallet truck is a type of material handling equipment that is used to move goods around a warehouse or distribution center. They are also known as lift trucks, hand trucks, and forklifts. Power pallet trucks are important for moving goods around a warehouse because they are able to lift and move heavy objects quickly and easily.
Semi Electric:
Semi electric trucks are the hybrid of diesel and electric truck. They have characteristics of both diesel as well as electric trucks. Semi-electric power pallet trucks are equipped with a large battery that provides enough energy to drive the vehicle up to 60 kms, after which, it needs to be charged again.
Fully Electric:
Fully electric pallet trucks are powered by electricity and have no internal combustion engine. The fully electric pallet truck has a battery that provides enough power to drive the vehicle. These types of trucks can be charged with an external source of energy like solar power or through a charging station at the workplace itself.
Application Insights:
The retail store application segment accounted for the largest revenue share in 2017 and is projected to continue its dominance over the forecast period. The segment growth can be attributed to growing e-commerce activities, which have increased the number of distribution centers across the globe. The fully electric trucks are preferred for this application as they offer a cost-effective solution and also reduce carbon emissions by up to 80%.
The warehousing facility requires large pallets on account of heavy equipment requirements, which can accommodate semi-electric or full electric trucks with ease. Fully electric power trucks are more expensive than their counterparts but provide benefits such as reduced noise pollution and lower fuel consumption costs along with improved productivity at warehouse facilities.
Manufacturing plant applications include forklifts that require large capacity batteries owing to extensive useage during peak production hours or when there is a need for continuous work shift operations without any scheduled breaks.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to rising investments in industrial infrastructure and increasing demand for power pallet trucks from developing countries, such as China and India. In addition, growing e-commerce industry in these regions will drive product demand further.
The Asia Pacific region accounted for a share of more than 30% of global revenue in 2017 owing to rapid development taking place across various industries including retail & consumer goods, manufacturing plant & warehousing, and others. Rising disposable income coupled with expanding middle class population base will boost retail sales which is likely to benefit the market growth over the coming years.
Growth Factors:
- Increasing demand for pallet trucks from the e-commerce sector
- Rising demand for pallet trucks from the food and beverage industry
- Growing popularity of power pallet trucks among small and medium-sized businesses
- Proliferation of automated warehouses and distribution centers
- Increasing adoption of warehouse management software
Scope Of The Report
Report Attributes
Report Details
Report Title
Power Pallet Trucks Market Research Report
By Type
Semi Electric, Fully Electric
By Application
Retail Store, Warehousing, Manufacturing Plant, Other
By Companies
Hyster Company, Jungheinrich, Toyota Industries, NIULI MACHINER, Crown Equipment Corporation, Kion Group AG, Noblelift Intelligent, Ningbo Ruyi, PR Industrial, Noveltek
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
128
Number of Tables & Figures
90
Customization Available
Yes, the report can be customized as per your need.
Global Power Pallet Trucks Market Report Segments:
The global Power Pallet Trucks market is segmented on the basis of:
Types
Semi Electric, Fully Electric
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Retail Store, Warehousing, Manufacturing Plant, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Hyster Company
- Jungheinrich
- Toyota Industries
- NIULI MACHINER
- Crown Equipment Corporation
- Kion Group AG
- Noblelift Intelligent
- Ningbo Ruyi
- PR Industrial
- Noveltek
Highlights of The Power Pallet Trucks Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Semi Electric
- Fully Electric
- By Application:
- Retail Store
- Warehousing
- Manufacturing Plant
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Power Pallet Trucks Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Power Pallet Trucks are a type of truck that use pallets as their main cargo. They are designed to move large loads quickly and easily, making them a popular choice for businesses and organizations that need to transport heavy items.
Some of the major players in the power pallet trucks market are Hyster Company, Jungheinrich, Toyota Industries, NIULI MACHINER, Crown Equipment Corporation, Kion Group AG, Noblelift Intelligent, Ningbo Ruyi, PR Industrial, Noveltek.
The power pallet trucks market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Power Pallet Trucks Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Power Pallet Trucks Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Power Pallet Trucks Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Power Pallet Trucks Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Power Pallet Trucks Market Size & Forecast, 2020-2028 4.5.1 Power Pallet Trucks Market Size and Y-o-Y Growth 4.5.2 Power Pallet Trucks Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Semi Electric
5.2.2 Fully Electric
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Retail Store
6.2.2 Warehousing
6.2.3 Manufacturing Plant
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Power Pallet Trucks Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Power Pallet Trucks Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Semi Electric
9.6.2 Fully Electric
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Retail Store
9.10.2 Warehousing
9.10.3 Manufacturing Plant
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Semi Electric
10.6.2 Fully Electric
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Retail Store
10.10.2 Warehousing
10.10.3 Manufacturing Plant
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Semi Electric
11.6.2 Fully Electric
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Retail Store
11.10.2 Warehousing
11.10.3 Manufacturing Plant
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Semi Electric
12.6.2 Fully Electric
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Retail Store
12.10.2 Warehousing
12.10.3 Manufacturing Plant
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Semi Electric
13.6.2 Fully Electric
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Retail Store
13.10.2 Warehousing
13.10.3 Manufacturing Plant
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Power Pallet Trucks Market: Competitive Dashboard
14.2 Global Power Pallet Trucks Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hyster Company
14.3.2 Jungheinrich
14.3.3 Toyota Industries
14.3.4 NIULI MACHINER
14.3.5 Crown Equipment Corporation
14.3.6 Kion Group AG
14.3.7 Noblelift Intelligent
14.3.8 Ningbo Ruyi
14.3.9 PR Industrial
14.3.10 Noveltek