The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Manufacturing industry expansion is likely to drive innovation in pallet truck manufacturing, propelling the market during the forecast period.

The global pallet trucks market is expected to grow from $36.16 billion in 2022 to $39.11 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The global pallet trucks market size is expected to grow to $52.31 billion in 2027 at a CAGR of 7.5%.

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Global Pallet Trucks Market Segments Include:

• By Product Type: Standard, Quarter, Silent, Weighing, Scissor
• By Load Capacity: Below 2000 Kg, 2000 – 4000 Kg, 4000 – 6000 Kg, Above 6000 Kg
• By Control: Manual, Semi-Electric, Electric, Diesel, Compressed Natural Gas (CNG)
• By End Use Industry: Food And Beverages, Retail Stores, Wholesale Distributions, Freight And Logistics, Manufacturing, Other End Use Industries
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global pallet trucks market in 2021.

Major Market Players in the pallet trucks market include Jungheinrich AG, Crown Equipment Corporation, Hyster Company, Kion Group, Toyota Industries Corporation, Hyundai Heavy Industries, Godrej & Boyce Mfg. Co. Ltd., Nilkamal Limited, PR Industrial S.R.L.

Electric vehicle technology adoption in pallet trucks is a prominent development in the global pallet truck market. To achieve a competitive advantage in the market, major industrial companies are incorporating innovative electric technology into pallet trucks. Linde Material Handling, a German warehouse equipment manufacturer, for example, debuted the T14 – T20 line of electric pallet trucks equipped with cutting-edge electric technology in May 2022. The new electric pedestrian trucks are powered by lithium-ion batteries and can handle pallet loads weighing between 1.4 and 2.0 tonnes. They also have sensor-based foot protection for safer work operations.

The Pallet Trucks Global Market Report 2023  provides a pallet trucks market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The pallet trucks market forecast analyzes pallet trucks market size, pallet trucks market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A pallet truck is a tool or wheeled trolley that is specifically built to lift and transport pallets. A pallet truck is commonly used in industrial material handling and moving activities, primarily for carrying goods within a warehouse.

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