Pallet Market size Witness a Healthy Y-o-Y Growth during 2025
BriefingWire.com, 5/10/2021 -
A Pallet is a flat panel which acts as a base for storing and transporting raw and finished products. Pallet is designed in such a way that it can be easily lifted using forklifts and pallet jacks. This palletized transport and storage enables operational efficiency and material handling. The Global Pallet Market was worth 43.1 Billion USD in 2018 and is estimated to reach 60.89 Billion USD by 2025 at a CAGR of 5.06% during the forecast period.
Growth by Region
Asia-Pacific Region is expected to lead the Global Pallet Market. The manufacturing industry in this region fuels the market growth in this region. North America will have the second largest market followed by Europe.