Global Hand Pallet Truck Market
Global Hand Pallet Truck Market was valued at US$ 1,932.00 Mn in 2021, estimated to reach US$ 3,001.00 Mn in 2027, with a CAGR of 6.91% from 2022-2027.
Hand pallet truck is defined as simple device which enables floor transport of palletized goods. These trucks are commonly seen in warehouses, stockrooms, and other environments. There are many different types of hand pallet truck available to suit all sorts of different requirements, including: Standard, Silent, Quarter, Weighing, and Scissor.
Market Drivers
The market for hand pallet trucks is expected to rise due to factors such as rapid industrialization, a growing e-commerce industry, rising purchasing power, modernized & mechanized work practices, and a demand for smart and effective material handling that would speed up the rate of work by reducing time. Hand pallet trucks are becoming more and more popular in a variety of end-use industries, including logistics, warehousing, retailing, and others, due to benefits like low maintenance costs, reduced labor demands, higher productivity, and ease of repair. In addition, pallet trucks often come with accessories like weighing scales that can print specifications using a connected printer and display the weight of a pallet on a screen.
Hand Pallet truck production has increased as a result of the e-commerce boom's transformation of the entire supply chain. Additionally, it is anticipated that the introduction of electric vehicle technology in the material handling industry will stimulate latent development prospects in the market for hand pallet trucks worldwide.
Market Restraints
High cost associated with hand pallet jack truck and less adoption rate of electric pallet jack truck in underdeveloped nations is expected to hinder the growth of hand pallet truck market over the forecast period.
Market Segmentation
Global Hand Pallet Truck Market is segmented into type such as Standard, Silent, Quarter, Weighing, Scissor. By control market is segmented into Manual, Semi-Electric, Electric, Diesel, Compressed Natural Gas (CNG), and Others. By load capacity, market is segmented into Below 2000 Kg, 2000 – 4000 Kg, 4000 – 6000 Kg, Above 6000 Kg. Further, market is segmented into end use industry such as Food & Beverages, Retail stores, Wholesale Distributions, Freight and Logistics, Manufacturing, Others.
Regional Analysis
The Global Hand Pallet Truck Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, Middle East & Africa.
APAC will remain the largest region and it is also expected to witness the highest growth over the forecast period because of the rise in technological advancements for the development of hand pallet are anticipated to drive the market. Also, North America and Europe have also witnessed an upsurge in the market due to the high usage of pallet trucks in the Retail, Wholesale distribution sector.
Key Development
In Oct 2021, Cascade Corporation, a subsidiary of Toyota Industries Corporation, has purchased Lift Technologies, Inc. (USA) and Lift-Tek Elecar S.p.A. (Italy), more generally known as Lift-Tek, which manufactures and sells forklift masts. It bought all of Lift-stock Tek's in order to create totally owned subsidiaries.
Key Players
Kion group, Toyota Industries Corporation, Mitsubishi Logisnext, Jungheinrich AG, Crown Equipment Corporation, Hyster Company, Goscor Lifts Truck, Hyundai Heavy Industries, Godrej & Boyce, Nilkamal Limited, etc.
Market Taxonomy
By Product Type
By Control
By Load Capacity
By End Use Industry
By Region
Global Hand Pallet Truck Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Hand Pallet Truck Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Hand Pallet Truck Market, By Product Type
5.1 Y-o-Y Growth Comparison, By Product Type
5.2 Global Hand Pallet Truck Market Share Analysis, By Product Type
5.3 Global Hand Pallet Truck Market Size and Forecast, By Product Type
5.3.1 Standard
5.3.2. Silent
5.3.3. Quarter
5.3.4. Weighing
5.3.5. Scissor
6 Global Hand Pallet Truck Market, By Control
6.1 Y-o-Y Growth Comparison, By Control
6.2 Global Hand Pallet Truck Market Share Analysis, By Control
6.3 Global Hand Pallet Truck Market Size and Forecast, By Control
6.3.1 Manual
6.3.2. Semi-Electric
6.3.3. Electric
6.3.4. Diesel
6.3.5. Compressed Natural Gas (CNG)
6.3.6. Others
7 Global Hand Pallet Truck Market, By Load Capacity
7.1 Y-o-Y Growth Comparison, By Load Capacity
7.2 Global Hand Pallet Truck Market Share Analysis, By Load Capacity
7.3 Global Hand Pallet Truck Market Size and Forecast, By Load Capacity
7.3.1 Below 2000
7.3.2. 2000 – 4000 Kg
7.3.3. 4000 – 6000 Kg
7.3.4. Above 6000 Kg
8 Global Hand Pallet Truck Market, By End Use Industry
8.1 Y-o-Y Growth Comparison, By End Use Industry
8.2 Global Hand Pallet Truck Market Share Analysis, By End Use Industry
8.3 Global Hand Pallet Truck Market Size and Forecast, By End Use Industry
8.3.1. Food & Beverages
8.3.2 Retail Stores
8.3.3 Wholesale Distributions
8.3.4 Freight & Logistics
8.3.5 Manufacturing
8.3.6. Others
9 Global Hand Pallet Truck Market, By Region
9.1 Global Hand Pallet Truck Market Share Analysis, By Region
9.2 Global Hand Pallet Truck Market Share Analysis, By Region
9.3 Global Hand Pallet Truck Market Size and Forecast, By Region
10 North America Hand Pallet Truck Analysis and Forecast (2022 – 2027)
10.1 Introduction
10.2 North America Hand Pallet Truck Product Market Share Analysis, By Product Type
10.3 North America Hand Pallet Truck Product Market Size and Forecast, By Control
10.4 North America Hand Pallet Truck Product Market Size and Forecast, By Load Capacity
10.5 North America Hand Pallet Truck Product Market Size and Forecast, By End Use Industry
10.6 North America Hand Pallet Truck Product Market Size and Forecast, By Country
10.6.1 U.S.
10.6.2 Canada
10.6.3 Mexico
11 Europe Hand Pallet Truck Market Analysis and Forecast (2022 – 2027)
11.1 Introduction
11.2 Europe Hand Pallet Truck Product Market Share Analysis, By Product Type
11.3 Europe Hand Pallet Truck Product Market Size and Forecast, By Control
11.4 Europe Hand Pallet Truck Product Market Size and Forecast, By Load Capacity
11.5 Europe Hand Pallet Truck Product Market Size and Forecast, By End Use Industry
11.6 Europe Hand Pallet Truck Product Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.64. Rest of Europe
12 Asia Pacific Hand Pallet Truck Market Analysis and Forecast (2022 – 2027)
12.1 Introduction
12.2 Asia Pacific Hand Pallet Truck Product Market Share Analysis, By Product Type
12.3 Asia Pacific Hand Pallet Truck Product Market Size and Forecast, By Control
12.4 Asia Pacific Hand Pallet Truck Product Market Size and Forecast, By Load Capacity
12.5 Asia Pacific Hand Pallet Truck Product Market Size and Forecast, By End Use Industry
12.6 Asia Pacific Hand Pallet Truck Product Market Size and Forecast, By Country
12.6.1 China
12.6.2 Japan
12.6.3 India
12.6.4. Rest of Asia Pacific
13 Latin America Hand Pallet Truck Market Analysis and Forecast (2022 – 2027)
13.1 Introduction
13.2 Latin America Hand Pallet Truck Product Market Share Analysis, By Product Type
13.3 Latin America Hand Pallet Truck Product Market Size and Forecast, By Control
13.4 Latin America Hand Pallet Truck Product Market Size and Forecast, By Load Capacity
13.5 Latin America Hand Pallet Truck Product Market Size and Forecast, By End Use Industry
13.6 Latin America Hand Pallet Truck Product Market Size and Forecast, By Country
13.6.2. Rest of Latin America
14 Middle East Hand Pallet Truck Market Analysis and Forecast (2022 – 2027)
14.1 Introduction
14.2 Middle East Hand Pallet Truck Product Market Share Analysis, By Product Type
14.3 Middle East Hand Pallet Truck Product Market Size and Forecast, By Control
14.4 Middle East Hand Pallet Truck Product Market Size and Forecast, By Load Capacity
14.5 Middle East Hand Pallet Truck Product Market Size and Forecast, By End Use Industry
14.6 Middle East Hand Pallet Truck Product Market Size and Forecast, By Country
14.6.2. UAE
14.6.3. Egypt
14.6.4 Kuwait
14.6.5. South Africa
15 Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1 Kion Group
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
16.2 Toyota Industries Corporation
16.2.1 Overview
16.2.2 Offerings
16.2.3 Key Financials
16.2.4 Business Segment & Geographic Overview
16.2.5 Key Market Developments
16.2.6 Key Strategies
16.3 Mitsubishi Logisnext
16.3.1 Overview
16.3.2 Offerings
16.3.3 Key Financials
16.3.4 Business Segment & Geographic Overview
16.3.5 Key Market Developments
16.3.6 Key Strategies
16.4 Jungheinrich AG
16.4.1 Overview
16.4.2 Offerings
16.4.3 Key Financials
16.4.4 Business Segment & Geographic Overview
16.4.5 Key Market Developments
16.4.6 Key Strategies
16.5 Crown Equipment Corporation
16.5.1 Overview
16.5.2 Offerings
16.5.3 Key Financials
16.5.4 Business Segment & Geographic Overview
16.5.5 Key Market Developments
16.5.6 Key Strategies
16.6 Hyster Company
16.6.1 Overview
16.6.2 Offerings
16.6.3 Key Financials
16.6.4 Business Segment & Geographic Overview
16.6.5 Key Market Developments
16.6.6 Key Strategies
16.7 Goscor Lifts Truck
16.7.1 Overview
16.7.2 Offerings
16.7.3 Key Financials
16.7.4 Business Segment & Geographic Overview
16.7.5 Key Market Developments
16.7.6 Key Strategies
16.8 Hyundai Heavy Industries
16.8.1 Overview
16.8.2 Offerings
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies
16.9 Godrej & Boyce
16.9.1 Overview
16.9.2 Offerings
16.9.3 Key Financials
16.9.4 Business Segment & Geographic Overview
16.9.5 Key Market Developments
16.9.6 Key Strategies
16.10 Nilkamal Limited
16.10.1 Overview
16.10.2 Offerings
16.10.3 Key Financials
16.10.4 Business Segment & Geographic Overview
16.10.5 Key Market Developments
16.10.6 Key Strategies
