Growth in e-commerce lead rising demand for forklifts
THE pallet truck, or forklift, market is expected to grow 6
THE pallet truck, or forklift, market is expected to grow 6.9 per cent a year through 2028, after gains made in the last two years on e-commerce and warehousing growth, reports Boston-area Modern Materials Handling.
The use of material handling equipment in warehouses for shipment of goods has boosted the adoption of Pallet trucks to facilitate movement and storage, said the report.
The soaring demand for material handling equipment to enhance functional efficiency is further foreseen to augment the growth prospects of the pallet trucks market.
The utilisation of pallet trucks to enhance workplace safety and productivity are some of the factors further reinforcing its adoption. Owing to the proliferation of pallet trucks with technological advancements such as automated guided vehicles and growth of logistics and wholesale distribution, the market is foreseen to auger well over the forecast period.