Report: Block pallets drive U.S. market by 2018

According to a new report recently released by Sandler Research, an online market research store for research reports on multiple industries, and conducted by TechNavio, large retailers are shifting to block pallets over stringer pallets.

“Large retailers are shifting to block pallets over stringer pallets, consequently manufacturers are expected to focus on manufacturing block pallets,” an analyst from TechNavio’s team said in a release. “Block pallets are expected to account for a large proportion of the market by 2018. Costco and Walmart, two leading retailers in the U.S., recently announced their preference for block pallets. This trend is aiding the growth of large pallet poolers such as CHEP and PECO, which only deal in block pallets, and puts small, family-owned, or independent producers who only manufacture stringer pallets at a disadvantage.”

The report, entitled “Pallet Market in the US 2014-2018,” has been prepared based on an in-depth market analysis with inputs from industry experts. The report presents market landscape and its growth prospects in the coming years, it also covers the vendor landscape and a corresponding detailed analysis of the major vendors in the pallet market in the United States.

According to the report, the pallet market in the United States is influenced by a wide range of factors. The economy plays a central role in influencing the size and growth of the market. Accordingly, the demand for pallets depends on economic drivers, such as population growth and the growth of disposable income. The growth in the pallet industry slowed down during the economic downturn in the U.S., between 2007 and 2012, but with the rebound in the economy, the demand for pallets is also expected to increase.

The pallet market is highly fragmented with the presence of local, regional, and international vendors, the report contends. The pallet market can be segmented into four divisions: wood, plastic, metal, and corrugated paper.

TechNavio recognizes the following companies as the key players in the study “Pallet Market in the US”: CHEP, Millwood Inc., PalletOne Inc., PECO Other Prominent Vendors, Buckhorn Inc., CABKA North America Inc., Greystone Logistics Inc., Kamps Pallets, Inc., Litco International, Inc., ORBIS Corporation, Rehrig Pacific Company.

The study, which can be purchased on the Sandler Research web site, was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.