Automotive Electric Pallet Jack Truck Market | Page 2

The global electric pallet jack truck market is segmented into end-user such as
retail store, warehousing, manufacturing plant and others. Among these
segments, warehousing segment grabbed the largest segment in 2016 and it is
expected to seize a notable CAGR during the forecast period. Likely, high
adoption rate of electric pallet jack truck for loading and unloading of materials is
projected to foster the growth of global warehousing market. Apart from this,
retail store segment is projected to be the fastest growing segment in overall
electric pallet jack truck market.
Global electric pallet jack truck market is expected to register a remarkable CAGR
over the forecast period. Moreover, the global electric pallet jack truck market is
anticipated to generate noteworthy revenue by the end of 2024 . Additionally,
the market of electric pallet jack truck is riding on the back of growing GDP
figures along with swift advancement in technology.
The Above 2200kg segment by load capacity is projected to flourish at a
significant CAGR during the forecast period. In terms of regional platform, North
America region captured the leading market of electric pallet jack truck in terms
of revenue in 2016. Further, U.S. is the prominent country in this region due to
rising demand for electric pallet jack truck from warehouse and retail stores.
Apart from this, Asia-Pacific region is the most lucrative market of electric pallet
jack truck owing to emerging economies such as China, India and others.
Rapid Growth of Industrialization Sector
Growing number of manufacturing industries all across the globe coupled
increasing demand for powered pallet trucks for picking of the material is
believed to be the dynamic factor behind the rapid growth of electric pallet jack
truck market by the end of 2024. Furthermore, growing demand for shipping of
new products by manufacturers is also one of the major factors fostering the
growth of electric pallet jack truck market.
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Technological Advancement
Continuous advancement in the electric pallet jack truck and rising adoption of
electric pallet jack truck on the back of numerous factors for instance it reduces
the time for loading or unloading are some of the factors fuelling the market
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