Global Standard Hand Pallet Truck Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Standard Hand Pallet Truck Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A pallet jack, also known as a hand pallet truck, pallet pump, pump truck, dog, or jigger is a tool used to lift and move pallets. Pallet jacks are the most basic form of a forklift and are intended to move heavy or light pallets within a warehouse.

Market Overview:

The latest research study on the global Standard Hand Pallet Truck market finds that the global Standard Hand Pallet Truck market reached a value of USD 960.57 million in 2022. It’s expected that the market will achieve USD 1323.0 million by 2028, exhibiting a CAGR of 5.48% during the forecast period.

Emerging countries and region

For example, China, India and South America, have large population in the world, with the development of local enterprises, development of economic, the demand for Standard Hand Pallet Truck has also expanded. In addition, more and more suppliers are shifting their production bases to the Asia-Pacific, South America region because the low labor cost and these regions have a good industrial base. This is also one of the Factors driving market growth in the region.

Upgrade product performance

With the development of the technology of various suppliers, the production technology of Standard Hand Pallet Truck is also constantly improving. With the development of the downstream industry, manufacturers should provide a more lightweight and more weight-bearing Standard Hand Pallet Truck. Providing better-performance products will be one of the opportunities for suppliers to gain market share.

Development of downstream industry

The degree of global international trade has deepened, and the global container shipping industry and retail industry are also developing. As the downstream application industry of Standard Hand Pallet Truck, it has received corresponding policy support in different regions. This has created a large demand for the Standard Hand Pallet Truck and promoted the healthy growth of the Standard Hand Pallet Truck market.

Region Overview:

Geographically, China held the largest market share – 36.89% in 2022.

Company Overview:

Toyota Material Handling is one of the major players operating in the Standard Hand Pallet Truck market, holding a share of 12.2% in 2023.

Toyota Material Handling

Toyota Material Handling manufactures and sells automobiles, material handling equipment, and textile machinery in Japan and internationally.

Noblelift

The company is mainly engaged in research and development, production and sales of light and small handling vehicles and electric storage vehicles.

Segmentation Overview:

By type, Capacity>2t segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Freight & Logistics segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Standard Hand Pallet Truck market covered in Chapter 3:

Ningbo Ruyi
Niuli
Presto Lifts Inc.
Nilkamal Limited
Crown Equipment Corporation
KION Group
PR INDUSTRIAL srl
Hyster Company
Toyota Material Handling
Hyundai Heavy Industries
Jungheinrich AG
Lift-Rite
Liftek
Noblelift

In Chapter 4 and Chapter 14.2, on the basis of types, the Standard Hand Pallet Truck market from 2018 to 2029 is primarily split into:

Capacity<1t
Capacity 1-2t
Capacity>2t

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Standard Hand Pallet Truck market from 2018 to 2029 covers:

Manufacturing
Freight & Logistics
Construction Industry
Consumer Goods Industry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)