Business Report on North America Pallet Market

Rapidly expanding hypermarkets and supermarkets and significant developments in the logistics and transportation sectors are driving the growth of the market

SHERIDAN, WY, USA, November 28, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “North America Pallet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,”” offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market

The North America pallet market size reached 2.9 Billion Units in 2021. Looking forward, IMARC Group expects the market to reach 3.7 Billion Units by 2027, exhibiting a growth rate (CAGR) of 3.74% during 2022-2027.

Year considered to estimate the market size:

• Base year of the analysis: 2021
• Historical period: 2016-2021
• Forecast period: 2022-2027

Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/north-america-pallet-market/requestsample

Market Application:

A pallet is a flat, rigid packaging material that is used to assemble, stack, transport, handle, or store goods and freight. It is further secured to prevent damage to the goods. Pallets help improve operational efficiency in warehouses by allowing easy movement of stacked goods using machines such as pallet jacks and forklifts. There are several product variants available in the market, which include reusable and expendable pallets made from plastic, metal, or wood. Comparatively, a pallet is stronger than other containers, such as cardboard boxes and plastic wrappers, and can stack heavier objects without breaking. As a result, pallets are witnessing massive demand across the machinery, construction, food and beverage (F&B), chemical, and pharmaceutical industries.

North America Pallet Industry Trends and Growth Analysis

The North America pallet market is primarily driven by the growing product application in warehouses for storing raw materials and finished products. Additionally, the key market players are introducing multiple-trip pallets that assist in minimizing solid waste, improving operational efficiency, and reducing cost per trip. They are also integrating tracking devices with artificial intelligence (AI), radio-frequency identification tags (RFID), and the internet of things (IoT) to enable easy tracking and increase the protection of goods, which is favoring the market growth. Apart from this, the rapidly expanding hypermarkets and supermarkets and significant developments in the logistics and transportation sectors in the region are bolstering the market growth.

North America Pallet Market Segmentation:

Based on Type:

• Wood
• Plastic
• Metal
• Corrugated Paper

Based on Application:

• Food and Beverages
• Chemicals and Pharmaceuticals
• Machinery and Metal
• Construction
• Others

Based on Structural Design:

• Block
• Stringer
• Others

Based on Country:

• United States
• Canada

Inquire or Share Your Questions If Any Before the Purchasing This Report: https://www.imarcgroup.com/request?type=report&id=1736&flag=F

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

In case you need any specific business requirements, you can mention the same. We can customize the report based on the specific needs of the client.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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