Pallet Market in India by Material and End-users - Forecast and Analysis 2020-2024
Pallet Market in India: About this market
Technavio’s pallet market in India analysis considers sales from wood, plastic, metal, and corrugated paper materials. Our study also finds the sales of pallet markets from food and beverages, chemicals and pharmaceuticals, retail, construction, and other end-users. In 2018, the food and beverage segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increase in agricultural production, the availability of better storage facilities will play a significant role in the food and beverage segment to maintain its market position. Also, our pallet market in India report looks at factors such as growing manufacturing industry in India, growth of the e-commerce industry in India, and growth of containerization in India. However, volatility in raw material prices, concerns related to the use of pallets, and lack of proper warehousing infrastructure in India may hamper the growth of the pallet market in India over the forecast period.
Pallet Market in India: Overview
Growth of containerization in India
Containerization is a system of intermodal freight transport using intermodal containers. The growth of containerization in India has increased the use of pallets because shipping containers have smooth, level surfaces that permit quick pallet movement with forklifts of varied sizes. The use of pallets makes it easier to move heavy stacks in containers. Moreover, containerization helps in reducing congestion in ports, shortening shipping time, and reduces loses from damage and theft. Therefore, with the growth of containerization in India, there will lead to the expansion of the global pallet market in India at a CAGR of over 12% during the forecast period.
The rising popularity of pallet tracking technologies
Tracking technologies such as radio-frequency identification (RFID), sensors, and tags are being embedded in pallets to enable supply chain monitoring. RFID tracking tags for pallets are one of the optimum solutions that help in the optimization of container packaging and logistic operations. RFID tags improve the automation level of the tracking processes used in inventory management and warehousing. The efficiency of logistics and warehouse operations plays a crucial role in determining the material handling and transportation costs in a supply chain. The use of cost-effective and time-saving material handling equipment is of utmost importance to improve the operational efficiency of logistics operations. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the pallet market in India during the forecast period 2020-2024, click here.
With the presence of several major players, the pallet market in India is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading pallet manufacturers, that include Brambles Ltd., CABKA Group GmbH, Ergen Plastic Industries, Greif Inc., LEAP India Pvt. Ltd., Nefab AB, Nilkamal Ltd., Schoeller Arca Time Materials Handling Solutions Ltd., Sintex Plastics Technology Ltd., and The Supreme Industries Ltd.
Also, the pallet market in India analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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