A hand pallet truck is the manual and hand held smaller version of a forklift. Development of hydraulic and electric technology is currently leading advancements in the hand pallet truck market. Electric technology is projected to lead the hand pallet trucks market, followed by hydraulic technology.
Growth of the e-commerce sector is driving the growth of the hand pallet truck market across the globe. The increased emphasis on online trade will put enormous pressure on warehouses and distribution centers, and hand pallet trucks make it possible to cope with the growing demand.
Other factors driving the growth of the hand pallet truck market at the global level includes rapid urbanization in developing countries, and a wide range of applications in various end-use industries. Further, increased manufacturing activities and rise in demand for lifting are envisioned to bolster the growth of the hand pallet market across the globe. Increased efforts from various end-user industries to establish an efficient supply chain will create immense demand for hand pallet trucks to undergo large number of transaction and this is expected to further boost the growth of the market.
The global hand pallet truck market can be segmented based on
- end-use, and
Competition in the hand pallet truck market is intense and the market is growing at a rapid pace. Many domestic and regional vendors are offering a wide range of products for different end-users due to increased technological innovation and competition in the industry. New entrants in the market are finding it difficult to compete with existing major players as they lag behind in terms of quality, reliability, and innovations.
Product: Hydraulic Pallet Truck, Power Operated Hydraulic Scissor Table, Manually Operated Portable Hydraulic Scissor Table, Hydraulic Pallet Stacker, Mobile Elevating Work Platform