Due to the simplicity of surface and height optimization, there is a significant need for pallets to create a chilly environment, which is fueling the market’s expansion. The demand for storage networking is anticipated to be driven by the expanding local food industry. The newest innovations in the smart pallets market with RFID microchips embedded in the plank, are accelerating expansion.
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Non-wooden pallets are becoming more popular as perfect substitutes in places like North America and Europe. Due to how simple it is to clean, plastic is predicted to become a very popular material. Recyclability has become a significant market trend that is advancing the industry. Palettes Gestion Services, Craemer Holding GmbH, Shanghai Lika Plastic Pallet Manufacturing Co., Ltd., ORBIS Corporation, and Rehrig Pacific Company, Inc. are among the top companies profiled in the global pallets market.
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Surge in Automation and Digitalization of Pallets
The use of radio-frequency identification (RFID) tags for product tracking, especially in plastic pallets, is increasing rapidly since the recent past. These tags can contain more information and can easily be located within the warehouse.
Vendors have started using robots for processes such as pallet nailing, pallet dismantling, and pallet repair. In future, robots are expected to boost production with limited personnel requirement. This factor is likely to contribute significantly towards the growth of global pallet market over the forecast period.
Pallets Market Remains a Fragmented Landscape
The global pallets market is identified to be fairly fragmented market with key market players holding around 8-10% market share. Around half of the global pallets market value is accounted by a large number of smaller pallet manufacturing companies that operate in regional and local markets. This makes the pallet market highly fragmented. Furthermore, partnerships and collaborations with other market players remain key trends among pallet manufacturers.
In May 2017, Brambles’ subsidiary CHEP signed a new agreement with Cott to become its pallet provider in the U.S.
Key Segments of the Pallets Market
PMR’s study on the pallets market is divided into three segments- gas type, application, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Material
- Wood
- Composite
- Plastic
- Paper
- Metal
- Steel
- Other Metals
Structural Design
- Block
- Stringer
- Customized
End Use
- Engineering Products
- Pharmaceuticals
- Chemicals
- Textile
- Agriculture
- Electronic
- Transportation
- Food
- Retail
- Others
Region
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
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FAQ’s:
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