INDIA PALLETS MARKET ANALYSIS
India pallets market was valued at US$ 946.8 Mn in 2022, exhibiting a CAGR of 6.8% in terms of revenue, over the forecast period (2023 to 2030) to reach US$1,604.5 Mn by 2030. Pallets are logistic equipment widely used across the warehouse to carry the load during material handling by using machines such as forklifts.
Figure 1. India Pallets Market, By Structural Design, 2022
India Pallets Market- Trends
Expanding e-commerce
Rising demand for logistics services in the e-commerce sector as a result of the rising trend of digitization and online shopping is anticipated to support market expansion. Increasing consumer expenditure on homes and other items as a result of rising disposable income is also anticipated to support market expansion. Additionally, the increase of the chemical industries is generating demand for chemical product logistics, which is boosting market expansion.
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