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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Pallet Market Size
The global pallet market reached a value of about USD 97.07 Billion in 2023. The market is further expected to grow at a CAGR of about 5.7% in the forecast period of 2024-2032. The market is anticipated to reach a value of nearly USD 160.31 billion by 2032.
Pallets are horizontal platforms that support goods and help to transport them with the front loader or forklift from one place to another. It is one of the most common bases for stacking items and is usually protected by stretching tape, pallet collar, adhesive, or other mode of stabilisation. It can be built with different materials, like wood, plastic, metal, and other materials, depending on the application.
Since containers like plastic and cardboard boxes are comparatively heavier than others, the staff can stack heavy items on a single pallet without breakage. Due to these qualities, many manufacturers, as well as shippers of commercial goods in the world, make extensive use of these.
Pallet sizes can vary globally, with the most common size in North America being 48 inches x 40 inches. In Europe, the Euro pallet, which measures 1200mm x 800mm, is widely used. Pallets are used to stack, store, and transport goods and materials. They are a key component in warehouse management and logistics operations.
Pallet Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global pallet market reached a value of about USD 97.07 Billion in 2023.
The market is projected to grow at a CAGR of nearly 5.7% in the forecast period of 2024-2032.
The market is estimated to reach a value of nearly USD 160.31 Billion by 2032.
The major drivers of the market include rising disposable incomes, increasing population, growing sales of mobile phones, the booming e-commerce sector, and the rising consumer spending on housing and services.
Investments in research and development activities to incorporate advanced technologies into pallet development and increasing internet penetration are the key trends aiding the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
Wood, plastic, metal, and corrugated paper are the different pallet types in the market.
Block and stringer, among others, are the various structural designs of pallet.
The various applications of pallets are food and beverages, chemicals and pharmaceuticals, machinery and metal, and construction, among others.
The leading players in the global pallet market are Brambles Ltd, Schoeller Allibert, Loscam, ORBIS Corporation, and CABKA Group, among others.
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