According to the research report titled ‘Global Pallet Trucks Market Size study, by Product (Standard Pallet Trucks, Quarter Pallet Trucks, Silent Pallet Trucks, Weighing Pallet Trucks, and Scissor Pallet Trucks), by End-use (Food & Beverages, Retail Stores, Wholesale Distribution, Freight & Logistics, Manufacturing and Others) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global pallet trucks market is anticipated to witness a modest CAGR during the analysis timeframe.

The increasing industrialization & product innovation as well as rising warehousing management practices are some of the main factors driving the expansion of global pallet truck market.

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For the uninitiated, pallet trucks are a type of forklift that are frequently used in a a warehouse environment where pallets and palletized loads need to be moved.

Aside from this, the increasing construction of advanced industrial projects and the rising demand for pallet trucks will add traction to global pallet truck industry size. However, fluctuation in demand and supply is likely to hinder the overall market growth in the subsequent years.

Based on the product gamut, the market is categorized into scissors, weighing, silent, quarter, and standard pallet trucks segments. With respect to the end-user terrain, the industry is bifurcated into manufacturing, freight & logistics, wholesale distribution, retail stores, food & beverages, and others.

From the geographical point of view, North America market is expected to generate notable returns in the ensuing years, owing to the rising usage of pallet trucks in the automotive and transportation sectors, as well as the increasing preference towards manual pallet trucks for transportation over forklift trucks.

Meanwhile, Asia-Pacific pallet trucks marketplace is projected to register the highest CAGR over the forecast period, on account of growing warehousing management practices and rising adoption of advanced technologies.

The leading companies operating in global pallet trucks market sphere are Nilkamal Limited, NIDO Machineries Pvt. Ltd., Linde Material Handling, Liftek FZC, Hyundai Heavy Industries Co., Ltd., Hyster Company, Goscor Lift Truck Company, Jungheinrich AG, Kion Group AG, and Presto Lifts Inc.