Valley Cottage, NY -- (SBWIRE) -- 02/28/2018 -- The pallet truck is often seen as a niche market apart. Pallet trucks add value and help operations manoeuvre effectively in almost all kinds of industrial and logistics workplaces. In the digital age where delivering orders in optimum turnaround time has become differentiating parameter, pallet trucks and related advancements have turned as an effective solution. These days, pallet trucks are used at almost every retail store, job site, manufacturing plant and warehouse. Their robust design and ergonomic handling are the two main characteristics of the pallet truck that help them stay in the market and perform well constantly. Other than this, increase in the manufacturing output of various industries is also expected to boost the pallet trucks market during the forecast period. Electric pallet trucks are in trend nowadays as they can be light, medium as well heavy-duty and also include power-assisted lifting.

Pallet Trucks Market: Dynamics

Drivers

Growing manufacturing industry and better manoeuvrability are the factors likely to drive the growth of global pallet trucks market over the forecast period. Furthermore, their ergonomic design which reduces operator downtime and fatigue is also expected to help pallet trucks gain traction during the forecast period. Better durability, versatility, ease of use and better rolling ease will be some of the other driving factors for global pallet trucks market in the coming years. Moreover, increasing demand for constantly shipping new products and orders is yet another factor expected to drive growth into the global pallet trucks market in near future. Robust design of pallet trucks enables operator to pull heavy loads smoothly and safely – this will work in the favour of pallet trucks in near future.

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Restraints

Limited fork vertical height, less flexibility and low speed are some of the factors hampering the growth of global pallet trucks market over the forecast period. Furthermore, pallet trucks are not quite effective on rough surfaces such as uneven pavements and crushed gravel pavements and this is expected to hinder the growth of this market in the coming years. Moreover, additional training is required to operate electric pallet trucks. Likewise, pallet trucks demand constant maintenance and complex electric components resulting in expensive and time-consuming involvement. Unfortunately, pallet trucks can only be used for mid-distances and this is yet another factor likely to negatively affect the growth of global pallet trucks over the forecast period.

Pallet Trucks Market: Segmentation

Global pallet trucks market is segmented on the basis of technology, product type and application. On the basis of technology, the global pallet trucks market is segmented into manual type pallet trucks and electric type pallet trucks. On the basis of product type, the global pallet trucks market is segmented into hand pallet trucks, weighing scale pallet trucks, high lift pallet trucks and manual stackers. On the basis of application, the global pallet trucks market is segmented into pallet trucks suitable for retail store, warehousing, job site and manufacturing plant.

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Pallet Trucks Market: Market Participants

Some of the market participants in the global pallet trucks market are:

PUMA LIFT TRUCKS PVT. LTD.

Patel Material Handling Equipment

Lokpal Industries

RICO Manufacturing

Sroka Inc.

Douglas Equipment

GUMAK MAQUINARIA, S.L.

HYSTER

Pallet Trucks UK

Mighty Lift, Inc.

Pallet Trucks Market: Region-wise Outlook

Owing to strong demand from warehouses, stores, etc., North America is expected to show its dominance in the global pallets market over the forecast period in U.S. and Canada. Europe is expected to be the second highest market in terms of value for the pallet trucks due to strong demand from Germany, France, and U.K. over the forecast period. Asia Pacific and Middle East & Africa are expected to expand at a significant growth rate over the forecast period due to increasing warehousing operations in China and India. Middle East and Africa is expected to show considerable growth rate over the forecast period.