Pallet Jacks – Market Outlook
Pallet jacks are also called as fork lifts or pallet trucks. These are used for material handling in warehouses, manufacturing, etc. These are commonly made of stainless steel. Starting from First Industrial Revolution, which used steam power to automate the production to Fourth industrial revolution, which is drven by digitization, material handling has transformed into new form in each phases. Now fully automated electric pallet jacks with high load capacity are available in the market. Pallet jacks play a vital role in material handling. These help in loading and unloading of the bulk goods. These are also used in inbound transportation of bulk goods from one corner of the warehouse or production floor to other corner. Manufacturers are very much concerned about their production efficiency and reducing the lead times. Material handling is a time consuming process if not handled properly, which may result into unproductivity and not meeting the production targets and deadlines. Manufacturers are continuously investing in transformation of their production facilities to modern technologies. Automating the material handling process improves production efficiency and reduce the lead times. Labor cost can also be optimized in the long term, as technology & equipment require a one time investment.
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Global pallet jacks market has a considerable correlation with global material handling equpments (MHE) market. Global material handling equipments market is estimated to reach approximately US$ 120.0 Billion, by 2018. The global MHE market is expected to driven by emerging markets e.g. India, China, Brazil, South Africa, Nigeria. Rising industrilization in Asia Pacific, Latin America and Africa regions is expected to drive the regional growth during the forecast period.
Global Pallet Jacks market: Key Players
Some of the key players operating in the global pallet jacks market are – Toyota Motor Corporation, Jungheinrich AG, Raymond Corporation, Yale Materials Handling Corporation, Caterpillar Inc., Clark Material Handling Company Inc., Crown Equipment Corporation, Komatsu Ltd., UniCarriers Corp., Combilift Ltd., Godrej Material Handling, Carborundum Universal Limited (CUMI), Jost’s Engineering Company Limited, Patel Material Handling Equipment, Noveltek Industrial Manufacturing Inc., Niuli Machinery Manufacture Co., Ltd, Ningbo Ruyi Joint Stock Co., Ltd., SUZHOU PIONEER MATERIAL HANDLING EQUIPMENT&TECHNOLOGY CO.,LTD., Wesco Industrial Products, LLC and Mitsubishi Caterpillar Forklift America Inc. and others.
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