- Electric pallet jack is used to lift light-duty products and pallets in limited space applications. Electric pallet jacks offer an easier option to transport goods and materials in supermarkets, warehouses, megastores, industrial stockrooms, and cargo containers. It possesses a high-strength reinforced steel frame and magnetic motor. Wheels and roller of an electric pallet jack are usually of polyurethane, nylon, steel, and rubber.
Key Drivers of the Global Electric Pallet Jack Market
- High demand in end-use industries and availability of a diverse product range in terms of load handling capacity are key drivers of the global electric pallet jack market. Logistics companies and warehouses are increasingly preferring electric pallet jacks for efficient material handling. An electric pallet jack features a magnetic motor; hence, it requires very less maintenance as compared to that required by other types of pallet jacks.
- Expansion of warehousing and logistics in different geographical markets is driving the demand for next-generation material handling solutions. Electric pallet jacks are preferred as a cost-effective alternative over a traditional, counter-balanced forklifts.
Opportunities in the Global Electric Pallet Jack Market
- Rapid expansion of the e-commerce sector is anticipated to boost the demand for electric pallet jacks globally. Increase in penetration of internet in developing countries has prompted several e-commerce companies to expand into these emerging markets. Micro-fulfillment centers (MFCs) play a key role in the pick-up, packing, and shipping of e-commerce orders. Electric pallet jacks enable responsive, reliable, and efficient material handling for quick and undamaged product delivery to e-commerce customers.
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Asia Pacific Recognized as the Major Market for Electric Pallet Jacks
- Based on geography, the global electric pallet jack market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
- Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. The country-level analysis and forecast of the Europe market covers the electric pallet jack market in the U.K., Germany, France, and Rest of Europe. The country-level analysis and forecast for the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast for the electric pallet jack market includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America electric pallet jack market is categorized into Brazil and Rest of South America.
- Robust expansion of warehousing and logistics accompanied with expansion of e-commerce sector is driving the demand for electric pallet jacks in Asia Pacific. China. Japan, and India are major countries contributing to the overall growth of the market in the region. Rising investment by international players is anticipated to boost the market further during the forecast period. For instance, in July 2017, Hyster-Yale Materials Handling, Inc. announced the acquisition of Zhejiang Maximal Forklift Company Limited to expand its global manufacturing capabilities.
Key Players Operating in the Global Market
Key companies are focused on product innovation through extensive research and development activities. Companies aim to provide improved customer services through operational excellence and integrated network of skilled professionals and technicians. Strategic partnerships and acquisitions, multichannel sales and distribution, and integrated services are key strategies of industry participants.
In April 2019, Toyota Industries North America, Inc. announced the acquisition of Hoist Liftruck Mfg., LLC to expand its product lines in heavy-duty equipment segment.
Some of the major companies identified in the global electric pallet jack market are:
- Jungheinrich AG
- The Raymond Corporation
- Hyster-Yale Group, Inc.
- METTLER TOLEDO
- Douglas Equipment Company
- Godrej Material Handling
- STILL Materials Handling
- Sroka Incorporated
- Toyota Industries North America, Inc.
- Puma Lift Trucks
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Global Electric Pallet Jack Market: Research Scope
Global Electric Pallet Jack Market, by Type
- Standard
- Quarter
- Silent
- Weighing
- Scissor
Global Electric Pallet Jack Market, by Load Capacity
- > 3000 LBS
- 3000 – 7000 LBS
- 7000 – 12000 LBS
- < 12000 LBS
Global Electric Pallet Jack Market, by Application
- Ground Level Transport
- Lifting and Stacking
- Order Picking
- Towing
Global Electric Pallet Jack Market, by End-use
- Food & Beverage
- Retail Stores
- Wholesale Distribution
- Freight & Logistics
- Manufacturing
- Others (Utilities, etc.)
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