Pallet Conveyor Market Size, Share, Growth, And Industry Analysis, By Type (Drag Chain Roller (Driven or Gravity), Plastic Type and Slat Type), By Application (Retail/Logistic Industrial, Food, Beverage (Separate from Food) and Other), Regional Forecast By 2031

Updated On: 15 April 2024

Pallet Conveyor Market Report Overview

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The global pallet conveyor market size was USD  1216 million in 2021, as per our research, the market is expected to reach USD 2040.69 million in 2031, exhibiting a CAGR of 5.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the pallet conveyor market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Pallet conveyor have been found to reduce costs with the right arrangement, while also saving time by increasing efficiency, reducing downtime, and using fewer resources. Pallet conveyor transport pallets from one place to another, typically without changing the way each item is handled. Transportation inefficiencies are eliminated by streamlining and standardising the process. It lessens manufacturing delays that are unnecessary. A regular material handling procedure ultimately decreases work in process and boosts throughput. These are a few elements that are projected to fuel market growth for pallet conveyor in the coming years.  

COVID-19 Impact: By Deploying New Automated Methods, Manufacturers were Effective in Reducing the Impact of COVID-19

This market has a constant growth curve. The primary cause is continuous improvement of material handling systems. The demand for automation and the movement of commodities has further mitigated the effects and complemented the ongoing growth. Manufacturers were successfully limiting the impact of COVID-19 on the financial elements by implementing new automated systems and collaborating with regional businesses to develop market presence. The global market is experiencing rapid long-term growth. It is mostly related to the increased demand for food and drink, medications, gadgets, and other goods that fall under the category of vital services.

Latest Trends

"Rising Consumer Spending Power in Manufacturing Sector to Drive Market Growth"

Larger quantities of materials must be handled during mining operations. The most effective and economical method for moving pallets over large distances is the pallet conveyor, which makes the task simpler. With rising consumer spending power, economies around the world are expanding, which has accelerated the growth of the manufacturing sector. Automation is being used by the manufacturing, baggage handling, food and beverage, mining, and other sectors to get closer to the zero-defect objective. Therefore, throughout the ensuing years, these factors would spur expansion in the pallet conveyor industry and raise demand for pallet conveyor. 

Pallet Conveyor Market Segmentation

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• By Type Analysis

According to type, the pallet conveyor market can be segmented into drag chain roller (driven or gravity), plastic type and slat Type.  

In terms of type, the plastic type is anticipated to be the largest segment during the forecast period.  

• By Application Analysis

Based on application, the pallet conveyor market can be divided into Retail/Logistic

Industrial, Food, Beverage (Separate from Food) and Other.  

In terms of application, the Retail/Logistic Industrial market is projected to hold the largest market share through 2031.

Driving Factors

"Rapid Growth in E- Commerce to Expand Market Growth "

The main driver of the e-commerce industry's growth is the rising popularity of online purchasing. Consequently, businesses must keep vast quantities of inventory in their warehouses. To compete, e-commerce businesses must also provide accurate orders, same-day, same-hour delivery, and free returns. As a result, e-commerce businesses are always seeking for practical solutions to shorten delivery times. Automated storage and retrieval systems (ASRS) and automated conveyors are two examples of material handling equipment that have been digitally enhanced. It has grown in popularity among e-commerce businesses since it makes order fulfilment processes easier for them to manage. The need for pallet conveyor in the e-commerce sector is anticipated to experience substantial expansion soon as demand for online shopping keeps rising.

"Increasing Demand in Green Conveying to Boost Market Growth "

Green conveyors are a three-pronged idea that aim to reduce energy use, reduce the quantity of material used in conveyors, and maximize the good effects on people that these systems provide, such less noise and improved safety for workers. Utilizing pallet conveyor controls, such as sleep mode, which turns the motors off while the belt is not in use, or variable speed controls, can considerably improve existing conveyor systems. The introduction of many green conveyors into product portfolios is anticipated to increase focus among different pallet conveyor system makers in response to regulatory changes, which is anticipated to boost pallet conveyor sales.

Restraining Factors

"Need for a Skilled Workforce for Sales Repair and Maintenance for the Implementation to Decline Market "

pallet Conveyors are a collection of several technologies that have been put together to streamline and improve logistical processes. It is a mechanical system that, if neglected, is vulnerable to damage, wear, overload, and mistakes. Periodically, it has to have systemic repairs and maintenance performed by qualified personnel. Since most businesses have many manufacturing sites, there aren't as many service or repair facilities as there should be. This presents a challenge for the global conveyor system industry. Conveyor system adoption in small and medium-sized businesses may be hampered by a lack of resources, a lack of knowledge, and the cost of employee training.  

Pallet Conveyor Market Regional Insights

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"The Asia Pacific Region will Dominate Market Due to Manufacturing Businesses"

The region with the biggest chance of dominating the market is Asia Pacific. The enhanced development in the FMCG, automotive, aviation, and mining industries is responsible for the biggest growth. A large concentration of manufacturing businesses that want to automate their manufacturing facilities due to a constant rise in the cost of human resources is also projected to have a significant impact on growth in the region. Additionally, with rising automation, these systems are predicted to continue to expand even in developed nations. Additionally, the company is urgently concerned about the escalating consumer demand for items. To expand production, this has led to the implementation of automation and an integrated manufacturing process, which is further boosting market growth.

Key Industry Players

"Adoption Experiential Marketing Services by Key Players Influencing Market Development"

The top key players in the market are Ssi Schaefer, Daifuku, Dematic, Intelligrated, Swisslog, MSK Covertech, TGW Logistic. Most of the top players hold pallet conveyor market share in some regions. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the pallet conveyor market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the pallet conveyor market.  

List of Market Players Profiled

• Ssi Schaefer (Australia)
• Daifuku (Japan)
• Dematic (U.S.)
• Intelligrated(U.S.)
• Swisslog (Switzerland)
• MSK Covertech (U.S.)
• TGW Logistic (Austria)
• Mecalux (Spain)
• Hytrol (U.S.)
• Beumer (India)
• System Logistic
• Interroll (U.S.)
• Krones (Germany)
• Damon (China)
• Witron (U.K.)
• Knapp (Austria)
• Inform (Germany)
• Okura (Japan)
• Bastian Solutions (U.S.)
• KG Logistics (U.S.)
• Omni Yoshida (Japan)
• Jiangsu Huazh (China)
• Pro Tech (U.S.)  

Report Coverage

This report examines an understanding of the pallet conveyor market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.