Pallet & Skid Rental in the US - Industry Market Research Report

Pallet & Skid Rental in the US - Industry Market Research Report

Pallet & Skid Rental in the US

Operators in the pallet and skid rental industry rent pallets and skids to manufacturers, retailers and other downstream market users. Pallets are flat transport structures that support the movement and lifting of goods and containers; skids are similar to pallets but have no bottom deck boards. Most pallets are wooden, though they can also be manufactured using plastic or recycled material. Over the past five years, expanding manufacturing and retail activity spurred demand for various freight transportation support services, like pallet and skid rental. But the pandemic slowed production in 2020 due to reduced spending and supply chain disruptions. Over the past five years, revenue has grown at a CAGR of 2.0% to $3.5 billion, including an expected jump of 1.8% in 2023. Profit is also expected to climb to 17.4% of revenue in 2023 from 15.3% in 2018.

This industry comprises establishments that primarily rent pallets and skids to downstream markets for the storage and transport of goods. Following use, pallets and skids are returned to industry operators for cleaning and repairs. Though pallets and skids differ slightly in their construction and purposes, the terms are largely interchangeable.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.