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Pallet Trucks Market CAGR Forecast at 8.9%

July 20, 2020 

Global “Pallet Trucks Market” is a comprehensive research that provides information regarding Pallet Trucks market size, trends, growth, cost structure, capacity, revenue and forecast 2026. This report also includes the overall study of the Pallet Trucks Market share with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the Pallet Trucks industry and provides data for making strategies to increase Pallet Trucks market growth and effectiveness. The report further investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the Pallet Trucks market.

The global Pallet Trucks market size is projected to reach USD 2314.5 million by 2026, from USD 2108.5 million in 2020, at a CAGR of 8.9%% during 2021-2026.

Pallet trucks are commonly seen in warehouses, stockrooms, and other environments where wooden pallets are frequently used.

On the basis of type, the global pallet trucks market is segmented into manual type pallet trucks and electric type pallet trucks. As the growth of electric pallet truck market share, the global average price of Pallet Truck is in the increasing trend, from 271 USD/Unit in 2013 to 288 USD/Unit in 2017.

North America is the largest consumption market of Pallet Truck, with a market share nearly 33.77% in 2017. Europe is the second largest consumption market of Pallet Truck, enjoying market share nearly 30.49% in 2017. Asia Pacific is expected to expand at a significant growth rate over the forecast period due to increasing warehousing operations in China and India.

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Pallet Trucks market in 2020.

COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

This report also analyses the impact of Coronavirus COVID-19 on the Pallet Trucks industry.

The major players in the market include:

Toyota Industries

Hyster Company

Jungheinrich

STILL

Crown

Noblelift

Ningbo Ruyi

NIULI MACHINER

PR Industrial

Uline

TVH Group

Godrej MaterialHandling

RICoManufacturing

Noveltek

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