London, 15 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global pallet market 2015-2019, which is expected to grow posting a CAGR of 4.57% during the forecast period 2014-2019.
The recovering global economy has increased consumer spending on housing and construction activities across the globe, producing a demand for pallets. A rise in housing and construction activities will have positive downstream effects on the demand for other products, too, such as appliances and durable goods, having multiplier effect on the logistics sector and will benefit pallet companies.
“Pallets are designed and developed to be used repeatedly, so that they are able to withstand multiple trips within the supply chain,” says Faisal Ghaus, Vice President of Technavio.
“Vendors are shifting from single-trip pallets to multiple-trip pallets. Due to rising pallet-damage rates, operational costs are increasing, which has prompted vendors to focus on developing high-quality pallets.”
Key Market Drivers
- Economic Recovery
- Rebound in Housing and Construction Activities
- Increase in Manufacturing Output
Key Market Trends
- Alternative Materials to Wood Gaining Share
- Investment to Increase Pallet Durability
- Use of Robotics in Pallet Production
- Emphasis on Automation Processes and Use of New Technologies
- Rise in Power of Pallet-Pooling Companies
Key Market Vendors
- Brambles Ltd.
- LOSCAM Ltd.
- Menasha Corp.
- Rehrig Pacific Co.
- Schoeller Allibert
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
