The global electric pallet jack truck market is segmented into end-user such as retail store, warehousing, manufacturing plant and others. Among these segments, warehousing segment grabbed the largest segment in 2016 and it is expected to seize a notable CAGR during the forecast period. Likely, high adoption rate of electric pallet jack truck for loading and unloading of materials is projected to foster the growth of global warehousing market. Apart from this, retail store segment is projected to be the fastest growing segment in overall electric pallet jack truck market.
Global electric pallet jack truck market is expected to register a remarkable CAGR over the forecast period. Moreover, the global electric pallet jack truck market is anticipated to generate noteworthy revenue by the end of 2024. Additionally, the market of electric pallet jack truck is riding on the back of growing GDP figures along with swift advancement in technology.
The Above 2200kg segment by load capacity is projected to flourish at a significant CAGR during the forecast period. In terms of regional platform, North America region captured the leading market of electric pallet jack truck in terms of revenue in 2016. Further, U.S. is the prominent country in this region due to rising demand for electric pallet jack truck from warehouse and retail stores. Apart from this, Asia-Pacific region is the most lucrative market of electric pallet jack truck owing to emerging economies such as China, India and others.
Rapid Growth of Industrialization Sector
Growing number of manufacturing industries all across the globe coupled increasing demand for powered pallet trucks for picking of the material is believed to be the dynamic factor behind the rapid growth of electric pallet jack truck market by the end of 2024. Furthermore, growing demand for shipping of new products by manufacturers is also one of the major factors fostering the growth of electric pallet jack truck market.
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Continuous advancement in the electric pallet jack truck and rising adoption of electric pallet jack truck on the back of numerous factors for instance it reduces the time for loading or unloading are some of the factors fuelling the market of electric pallet jack truck. Moreover, mounting demand for material handling application with high performance and travel is also positively impacting the growth of electric pallet jack truck market.
Although, high cost of electric pallet jack truck and low adoption rate of electric pallet jack truck in underdeveloped nations are projected to hamper the growth of electric pallet jack truck market over the forecast period.
The report titled “Electric Pallet Jack Truck Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global electric pallet jack truck market in terms of market segmentation by type, by load capacity, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global electric pallet jack truck market which includes company profiling of 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. and Combilift Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global electric pallet jack truck market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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