The pallet pooling (rental) market primarily consists of the transportation and delivery goods and products using pallets rented from pallet pool operators. Pallets helps in the easy and effective movement of heavy consignments within warehouses, manufacturing plants and shipping locations. Pallets are inexpensive, reusable platforms that serve as the building blocks for unit loads. Pallet pooling helps companies reduce pallet costs and optimize supply chain efficiencies. Through pooling, costs associated with pallet procurement, repairs, and disposal are drastically reduced.
Key Takeaways
Key players operating in the pallet pooling (rental) market are Demes Logistics GmbH & Co. KG, iGPS Logistics LLC, Schoeller Arca Time Materials Handling Solutions Limited, Loscam Australia Pty. Ltd., Zentek Pool System GmbH, Brambles Limited and Euro Pool Group. Second, several companies are focusing on expansion opportunities across emerging economies of Asia Pacific and Latin America. Third, with growing global trade, companies are increasingly outsourcing pallet rental and management services to specialized pool operators to optimize operational costs.
Market Drivers
The primary driver propelling Pallet Pooling (Rental) Market Demand is the increasing volume of global trade. As international trade witness high growth, the need for an efficient and effective pallet management system has also increased. Pooled pallets help minimize shipping costs and reduce product damage rates. Pooled pallets are also recycled rapidly into the supply chain, reducing wastage. This has further driven the demand for pallet pooling services across industries.
PEST Analysis
Political: Pallet pooling market is regulated by government laws and regulations related to recycling and waste disposal. Changes in these regulations can impact pallet reuse and recycling businesses.
Economic: Availability of funding and capital for investments in pallet rental businesses. Fluctuations in the economic cycle that impacts industry production and logistics can influence pallet requirements.
Social: Growing emphasis on sustainability and reuse of resources. Increase in outsourcing of logistics functions creates demand for pallet pooling services
Technological: Advancements in tracking technologies like RFID enable efficient pallet management. Use of automation aids handling and repair of pallets.
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