United States Pallet Market Report and Forecast 2022-2027

United States Pallet Market Report and Forecast 2022-2027

Market Outlook

According to Expert Market Research’s latest report, ‘United States Pallet Market Report and Forecast 2022-2027’, the United States pallet market attained a value of around USD 22824.5 Million in 2021. Aided by the increasing demand for AI-enabled pallet solutions, the market is projected to further grow at a CAGR of 4.5% between 2022 and 2027 to reach a volume of almost USD 30397.5 Million units by 2027.

A pallet refers to a flat transport structure that supports goods and improves material handling efficiency during transportation. It can carry packagings like corrugated boxes and intermodal containers that are used for bulk shipping. Pallets are produced from different materials, such as wooden, plastic, metal, paper, and corrugated papers. Additionally, they are available in various sizes and configurations that allow the customers to choose the one that best suits their needs. Smart pallets can automate and streamline the business process by tracking the products they carry and displaying the most suitable route for empty and full pallets, thereby saving money and time.

The market for pallets is being driven by the growing popularity of online shopping in the United States, which is resulting in the wide adoption of pallets by large online retailers to store and transport their merchandise. The efforts made by the market players in the research and development of state-of-the-art pallets are also accelerating the market development. There is a rising inclination towards wooden pallets owing to their multiple advantages when compared to their counterparts, such as cost-effectiveness, enhanced durability, wider availability and easy repairability, and the ability to carry higher weight capacities. Further, there is an improved availability of sustainable and renewable pallet solutions. The rapid adoption of artificial intelligence and robotics in warehouses and distribution centres, along with the use of technologies like RFID and Bluetooth, has increased the demand for pallets with tracking capabilities. The integration of advanced technologies, such as the electronic chips and temperature and humidity sensors in the pallets to enable companies to track their packages and monitor the product quality, is expected to stimulate the market growth over the forecast period.

Market Segmentation

The market report by Expert Market Research analyses the market based on segmentations such as type, structural design, application, and major region.

Market Breakup by Type

• Wood
• Plastic
• Metal
• Corrugated Paper

Market Breakup by Structural Design

• Block
• Stringer
• Others

Market Segmentation by Application

• Food and Beverage
• Chemicals and Pharmaceuticals
• Machinery and Metal
• Construction
• Agriculture
• Others

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments of the key market players. Some of the major players in the market explored in the Expert Market Research report are:

• Millwood, Inc.
• Anderson Pallet and Crate Inc.
• TMF Corporation
• Orbis Corporation
• Kamps Inc.
• Palletone Inc.
• John Rock, Inc.
• Others

*We, at Expert Market Research, always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.