The latest research study “North America Pallet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the North America pallet market size reached 3.0 Billion Units in 2022. Looking forward, IMARC Group expects the market to reach 3.8 Billion Units by 2028, exhibiting a growth rate (CAGR) of 3.64% during 2023-2028.
Pallets refer to portable and horizontal platforms that are used for stacking, storing, and transporting goods. They are usually manufactured by using wood, plastic, fiberboard, etc., and can be categorized into block and stringer variants depending on their size and configuration. Pallets act as a stable base for products during handling and provide portability, storage space, high strength, etc. Consequently, they find extensive applications in material handling across various sectors, including machinery, food and beverage (F&B), construction, chemical, etc.
The inflating levels of industrialization are among the key factors stimulating the North America pallet market. Furthermore, the rising sales of consumer electronics, including smartphones, laptops, tablets, etc., the growing penetration of the internet, and the expanding e-commerce sector are positively influencing the regional market.
Apart from this, the widespread adoption of pallets in the pharmaceuticals industry, on account of the assistance offered in reducing product contamination, is acting as another significant growth-inducing factor. Moreover, the increasing construction of residential and commercial places is further augmenting the market growth. Besides this, the escalating demand for safer storage, handling, and transportation of items from the warehouse to the industries and the introduction of numerous-trip pallets by leading manufacturers as they offer a lower cost per trip, minimize solid waste, enhance operational efficiency, etc., are also catalyzing the regional market.
Additionally, the elevating investments in R&D activities to develop technologically advanced product variants with recyclable and reusable properties are expected to fuel the North America pallet market in the coming years.
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The report has segmented the North America pallet market on the basis of type, application, structural design and region.
Breakup by Type:
Breakup by Application:
Food and Beverages
Chemicals and Pharmaceuticals
Machinery and Metal
Breakup by Structural Design:
Breakup by Country:
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Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
In case you need any specific business requirements, you can mention the same. We can customize the report based on the specific needs of the client.
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