Pallet Market (2015-2021) Is Anticipated to Grow At A CAGR of 5.24%

Pallet is flat base structure used for goods stacked atop it for transport and shipping purpose. Pallet facilitates the transportation of goods and containers in a stable manner by providing support while moving the goods from one place to another and can be elevated by forklifts, jacking devices pallet jacks and front loaders. Increased consumerism on the back of expanded personal disposable income across the globe has allowed the Indian pallet market to reach new s. Global pallet market is anticipated to grow at a compound annual growth rate (CAGR) of 5.24% over the period 2015-2021.

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Market Size and Forecast

Global pallet market is anticipated to garner USD 51.6 Billion by the end of 2021. Further, the market is expected to witness a compound annual growth rate (CAGR) of 4.8% during the forecast period.

In the terms of geography, Asia Pacific market dominated the overall packaging machinery in 2016. In Asia Pacific, manufacturing industry is poised for huge growth, which further, is likely to impel the growth of the pallet market. North America is the second largest region witnessing the augmented demand for pallet. After North America, Europe is the biggest market for pallet and is projected to showcase robust demand for pallet during the forecast period.

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Key players

Totre Packaging, Spruce Impex Pvt Ltd., Gee Enterprises, Spanco Enterprises, Pilco Storage Systems Private Limited, Swift Technoplast Private Limited, Brambles Limited, Loscam Australia Pty Ltd and other key players.

Market Segmentation

By Product

Plastic Pallets
Corrugated cardboard Pallets
Wood Pallets
Metal Pallets
Lightweight plywood pallet
Press wood pallet

By Applications

Glossary Manufacturing
Chemical
Food & Beverage
Packaging
Automobile
Retail
Cement
Dairy

By Shape and Size

Two-way Pallets
Four-way Pallets
Open Pallets
Closed-boarded Pallets
Wing Pallets
Reversible Pallets

By Usage

New pallet
Used pallet
Recycle pallet
Heat treated pallet

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