According to the latest report by IMARC Group, titled “Europe Pallet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the Europe pallet market exhibited moderate growth during 2015-2020. A pallet is a portable, rigid platform that aids in carrying goods from one place to another. It usually comprises a superstructure and a bottom deck, which allows it to be lifted by material handling equipment such as lift trucks, cranes, front loaders, and conveyors. It is utilized for protecting the product by reducing the amount of contamination and damages, preventing worker injury, and minimizing expenses like fuel costs. As a result, it is widely used by suppliers and manufacturers across Europe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Europe Pallet Market Trends:
The rising standards of transportation operations represent one of the primary factors driving the market in Europe. Besides this, favorable initiatives introduced by the European Union (EU) to promote the utilization of reusable and recyclable products have resulted in the increasing adoption of plastic pallets in the region. Moreover, as they are lightweight, cost-effective, and durable, there is a significant rise in the demand for plastic pallets across the chemical, dairy, wine and steel, spirit, and electrical industries. The market is further driven by considerable growth in the logistics and transportation sectors in Europe as these pallets are used for improved and safe transportation of goods and materials. Furthermore, the leading manufacturers operating in the region are introducing multiple-trip pallets, which offer a lower cost per trip, eliminate solid waste, and enhance operational efficiency. These innovations are anticipated to impel the growth of the market. Looking forward, IMARC Group expects the market to expand at a CAGR of 5% during the forecast period (2021-2026).
- Based on the type, the market has been classified into the wood, plastic, metal, and corrugated paper pallets.
- On the basis of the application, the market has been divided into food and beverages (F&B), chemicals and pharmaceuticals, machinery and metal, construction, and others.
- Based on the structural design, the market has been segmented into block, stringer, and other designs.
- Country-wise, the market has been segregated into the United Kingdom, Germany, France, Italy, Spain, and others.
- The competitive landscape of the market has been examined, along with the profiles of the key players.
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