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Global Lumber Pallet Market 2020-2024 | 5% CAGR Projection Through 2023 | Technavio

January 6, 2020 GMT
Global Lumber Pallet Market 2020-2024 | 5% CAGR Projection Through 2023 | Technavio
Global Lumber Pallet Market 2020-2024 | 5% CAGR Projection Through 2023 | Technavio

LONDON--(BUSINESS WIRE)--Jan 6, 2020--

The global lumber pallet market is expected to post a CAGR of almost 5% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global lumber pallet market 2020-2024 (Graphic: Business Wire)

Factors such as growth in international trade and the rise in port traffic have increased the demand for containerization. The rapid rise in the demand for intermodal freight transport has also increased the need for containerization. These factors have increased the use of lumber pallets as they facilitate easy movement of heavy stacks in containers without damaging the smooth, level surfaces of shipping containers. Therefore, the growth of containerization is expected to increase the demand for lumber pallets during the forecast period.

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As per Technavio, the rising popularity of pallet tracking technologies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.

Global Lumber Pallet Market: Rising Popularity of Pallet Tracking Technologies

Logistics companies are embedding tracking technologies such as RFID, sensors, and tags in lumber pallets for effective monitoring of supply chains. This is encouraging many RFID manufacturers to introduce products with robust designs that enable them to withstand the harsh environment and material handling conditions. Some market vendors are offering intelligent lumber pallets integrated with IoT technologies for multi-site manufacturing applications. The increasing use of RFID and other advanced technologies for tracking lumber pallets is expected to positively impact the growth of the market during the forecast period.

“Emergence of pallet pooling and the adoption of reusable lumber pallets will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Global Lumber Pallet Market: Segmentation Analysis

This market report segments the global lumber pallet market by geography (APAC, Europe, MEA, North America, and South America) and end-user (food and beverages, chemicals and pharmaceuticals, retail, construction, and others).

The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the strong growth of the e-commerce industry in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendor Analysis

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

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SOURCE: Technavio Research

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PUB: 01/06/2020 11:15 AM/DISC: 01/06/2020 11:15 AM

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