Pallet Trucks Market Report 2026

The pallet trucks market size has grown strongly in recent years. It will grow from $43.43 billion in 2025 to $46.63 billion in 2026 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to growth of warehousing activities, retail distribution expansion, manufacturing output increase, demand for material handling efficiency, logistics sector growth.

The pallet trucks market size is expected to see strong growth in the next few years. It will grow to $63.35 billion in 2030 at a compound annual growth rate (CAGR) of 8%. The growth in the forecast period can be attributed to e commerce expansion, automation in warehouses, demand for energy efficient equipment, growth of cold chain logistics, labor safety regulations. Major trends in the forecast period include rising adoption of electric pallet trucks, growing demand in warehouse automation, expansion of high load capacity models, increasing use in cold storage facilities, focus on ergonomic design improvements.

The growing use of e-commerce worldwide is expected to drive the pallet truck market forward. E-commerce refers to selling products and services online. Businesses in this sector primarily store goods in warehouses and stockrooms, where pallet trucks are used to transport items of varying weights over short distances for order preparation and dispatch. The expansion of e-commerce is transforming supply chains, thereby increasing demand for pallet trucks. For instance, in February 2024, according to the US Census Bureau, a US federal agency, total US retail e-commerce sales in 2023 reached US $1.11 trillion, up 7.6% from 2022, with e-commerce accounting for 15.4% of total US retail sales. Consequently, the rising global e-commerce activity is propelling growth in the pallet truck market.

Leading companies in the pallet truck market are concentrating on developing lithium-ion technology to improve battery life, shorten charging times, and enhance overall efficiency and performance. Lithium-ion technology is a type of rechargeable battery that facilitates efficient energy storage and high energy density by enabling the movement of lithium ions between the anode and cathode. For example, in August 2024, Clarks, a UK-based shoe retailer, introduced a new range of electric pallet trucks. This range includes four pedestrian-operated models from the WS and SWX series, with load capacities between 1.2 tons and 1.6 tons. The WS series features the WS12, WS12M, and WS10Mi models, while the SWX series includes the SXW12, SWX16, and SWX16 models.

In February 2024, Big Lift LLC, a US-based manufacturer of heavy lifting equipment such as forklifts and container handlers, acquired ePicker LLC for an undisclosed sum. The acquisition is intended to broaden Big Lift's product portfolio and enhance its market position. ePicker LLC, also based in the US, specializes in the production of electric pallet jacks, stackers, and other material handling equipment tailored for efficient operations in warehouses and logistics.

Major companies operating in the pallet trucks market report include Jungheinrich AG, Crown Equipment Corporation, Hyster-Yale Materials Handling Inc., Kion Group AG, Toyota Industries Corporation, Hyundai Heavy Industries Co. Ltd., Godrej & Boyce Mfg. Co. Ltd., Nilkamal Limited, PR Industrial S.R.L., Presto Lifts Inc., Noveltek Industrial Manufacturing Inc., Mitsubishi Logisnext Co. Ltd., Goscor Lift Truck Company (Pty) Ltd., STILL GmbH, Noblelift Intelligent Equipment Co. Ltd., Ningbo Ruyi Joint Stock Co. Ltd., Niuli Machinery Manufacture Co. Ltd., TVH Group NV, RICO Manufacturing Inc., Nido Machineries Pvt. Ltd., Patel Material Handling Private Limited, Puma Lift Trucks Pvt. Ltd., Bishamon Industries Corporation, CML Movimentazione SRL, Columbus McKinnon Industrial Products GmbH., EP Equipment Co. Ltd., HYTSU GROUP, I-lift Equipment Ltd., Linde Material Handling GmbH, Manitou Group.

North America was the largest region in the pallet trucks market in 2025. The regions covered in the pallet trucks market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pallet trucks market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The pallet trucks market consists of sales of pallet pump, pump truck, and pallet jack which are used for lifting and moving pallets. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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