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Pallet Pooling System Rental Market Rising and Future Scope till by 2030
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According to the Market Statsville Group (MSG), theglobal pallet pooling system rental market is estimated to grow at a CAGR of 5.2% from 2022 to 2030. Pallet pooling system rental also called a closed-loop rental system, companies assist end-users by renting the pallets and managing the pallets. Factors such as growing demand from the pharmaceutical industry for minimum contact and easy sterile solutions to handle products and their transport will drive the market's growth. In addition, the integration of advancing technologies will create lucrative opportunities for the market's growth in the forthcoming years.
COVID-19 Impact on the Global Pallet Pooling System Rental Market
COVID-19 had a significant impact on the market's growth. Due to the COVID-19 government imposed various restrictions and the global lockdown was a major restraining factor. However, demand from the pharmaceutical and e-commerce industry managed the market’s steady growth during the pandemic.
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Scope of the Global Pallet Pooling System Rental Market
The study categorizes the pallet pooling system rental market-based material type, size, product type, and end-user at the regional and global levels.
By Material Type Outlook (Sales, USD Million, 2017-2030)
By Size Outlook (Sales, USD Million, 2017-2030)
- 1016 mm × 1219 mm
- 1000 mm × 1200 mm
- 1100 mm × 1100 mm
By Product Type Outlook (Sales, USD Million, 2017-2030)
- Nestable Pallet Pool System
- Stackable Pallet Pool System
- Rackable Pallet Polling System
By End-User Industries Outlook (Sales, USD Million, 2017-2030)
- Food & Beverage
- Chemical & Petrochemical
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By Region Outlook (Sales, USD Million, 2017-2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
The wooden material, by material type segment, accounts for a major market share in pallet pooling system rental
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On the material type basis, the wooden material accounts for the major market share in 2021. The segment's growth is attributed to the extensive use of pallet woods in various end-use industries. On the analysis basis, about 80% of pallets are wooden. However, the use of plastic and recyclable material is estimated to showcase the highest CAGR, during the forecast period, due to its high durability and strength. Further, it can be sterilized easily and doesn't support the growth of any species as wood. Such factors will propel the segment’s growth in the forthcoming years.
Regional Analysis of Pallet Pooling System Rental Market
Based on the analysis, in North America, about 2 billion pallets are in circulation in the United States. In addition, the presence of major market players in the US, propels the growth of the market in the region over the forecast period. Further, surging demand for the pallet pooling system from warehouses of major e-commerce giants will fuel the market's growth in the region.
Followed by Europe, on an analysis basis, the European Union has 280 million pallets, end-users prefer a rental pallet pooling system instead of owning one due to the maintenance cost, replacement, and other related costs. Hence, this lays a positive impact on the market's growth in forthcoming years. However, the Asia Pacific region is estimated to showcase the highest CAGR during the forecast period. Further, the expansion of major market players across the emerging economies, including India and China, will drive the market's growth in the forthcoming years.
Key Market Players in the Global Pallet Pooling System Rental Market
Key players operating in the market are adopting various strategies such as discounting services, integrated maintenance in the pooling package, and others. Further, they are exploring the power of advancing technologies to gain major market share and cater to customers' needs.
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Major players in the global pallet pooling system rental market are:
- Brambles Limited
- Euro Pool Group
- Faber Halbertsma
- Korea Pallet Pool
- Schoeller Arca
- IGPS Logistics LLC
- Contraload NV
- PECO Pallet
- Demes Logistics GmbH
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