Procurement Market Intelligence Report
Pallet Trucks
Sourcing Guide & Market Intelligence
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Pallet Trucks Global Overview
Definition
Summary
Pallet trucks, which are used for materials handling, are used to lift pallets a few inches off the floor to transport them. Pallet trucks, also called pallet jacks, can raise pallets using either electric power or manual power. Key buyers include warehouses and storage facilities, food product manufacturers, distributors, and construction companies.
This Report Includes:
- Hand Pallet Trucks
- Powered Pallet Trucks
- Used Pallet Trucks
- New Pallet Trucks
Not in this Report:
- Carts
- Dollies
- Wagons
- Pushcarts
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Global Pallet Trucks Procurement Trends
Discover the top international trends affecting procurement in the global Pallet Trucks market.
Warning Trends
United States announces new tariffs on all imported steel
- In February 2025, the United States announced 25.0% tariffs on all imported steel with no exemptions or exceptions. The tariffs took effect on March 12, 2025. On June 4th, these tariffs were increased further to 50%. These tariffs were not impacted by a recent court decision that temporarily suspended duties on certain goods as they were implemented under Section 232 of the Trade Expansion Act.
- Previously, countries such as Canada, Mexico, and Brazil, the top exporters of steel to the United States, had exemptions from tariffs. These have now been removed and all imported steel, regardless of origin, will be subject to the 50.0% tariff. However, on May 8th, the US announced an agreement with the United Kingdom to remove all levies on steel exported from the UK.
- When tariffs on steel imports were introduced in March 2018, they contributed to an increase in the price of steel and steel products. According to the Bureau of Labor Statistics, the price of steel-milled products increased by 10.2% in the year after the tariffs were implemented. This market heavily relies on steel as an input and may be impacted by this policy.
Global Pallet Trucks Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1 China | 1,660 |
| #2 Europe | 1,595 |
| #3 United States | 600 |
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Geography Drilldown - US
Average Cost of Pallet Trucks
United States
2026 Market Pricing$250.00 to $XX,XXX.XX
per pallet truckAverage Price
Prices in the Pallet Trucks market range from $250.00 to $XX,XXX.XX, depending on Power Source, Weight Capacity, Wheel Type and Condition. For example, lower prices are associated with Manual pallet trucks ($250 to $1500), whereas higher prices are associated with Electric powered pallet trucks ($2000 to $8000).
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Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Pallet Trucks Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Pallet Trucks market, prices in the US have declined -2.6% from 2022 to 2025. Subscribers can access price trend forecasts, price driver projections and forward-looking cost structure data. Learn more
United States (2022-2025)
United States (2025-2028)
Compound Annual Growth Rate
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Cost Analysis - Total Cost of Ownership for Pallet Trucks
Total cost of ownership is Medium in the Pallet Trucks market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs.
Negotiated Before
Financing
Billed During
Maintenance
Fuel
Handling
Buyer Power in Procurement Negotiations
In 2026, buyer power amounts to -0.0 in the United States. Buyer power is most positively impacted by Recent Developments. It is most negatively impacted by Recent Price Trend. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Buyer power forecasts: your glimpse into the future
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- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as High, which has a negative impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Iron & Steel Manufacturers
- Machinery & Equipment Wholesalers
- Battery Manufacturers
- Tire Manufactures
- Gasoline & Petroleum Wholesalers
2nd
Tier Suppliers
- Engine & Turbine Manufacturers
Biggest Pallet Trucks Suppliers in the US by Revenue
The largest Pallet Trucks vendors by revenue in the US are Global Equipment Company Inc., Kion Group AG and System Inc. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| Crown Equipment Corporation | Global | New Bremen, OH | >10,000 | |||||
| Mitsubishi Chemical Holdings Corporation | Global | Tokyo, JP | >10,001 | 5-10 | ||||
| Toyota Industries Corporation | Global | Kariya, JP | >10,001 | 5-10 | ||||
| Global Equipment Company Inc. | 5-10 | |||||||
| NACCO Industries, Inc. | National | CLEVELAND, OH | 1,001-10,000 | 5-10 | ||||
| Kion Group AG | Global | Frankfurt, DE | >10,001 | < 5 | ||||
| Jungheinrich AG | Global | Hamburg, DE | >10,001 | < 5 | ||||
| Uline, Inc. | International | Pleasant Prairie, WI | 1,001-10,000 | < 5 | ||||
| System Inc. | National | PORT WASHINGTON | 1,001-10,000 | < 5 | ||||
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Profit Analysis
The average profit margin across vendors in the Pallet Trucks market is 10.9% and rising. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Overhead. The cost trend for this component is falling, when considering movement between 2025 and 2026. To understand cost forecasts for 2027 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
Due to strong demand, vendor risk in this market is moderate, but the volatile supply chain risk in first-tier suppliers such as gasoline and petroleum adds to the overall risk.
The pallet truck market has a low market share concentration, with the top four suppliers accounting for less than 30.0% of the total market share due to low barriers to entry.
The recent expansion of United States steel tariffs has created high supply chain risk for pallet trucks by driving up steel costs, disrupting global sourcing, and causing production delays.
The United States is a net importer of handling and loading machinery, indicating that the market contains a number of foreign-based competitors. This enhances price-based competition and buyer selection. However, reliance on products produced outside the United States somewhat increases supply chain risk and the chance of supply disruptions.
Supplier Information
Crown Equipment Corporation
Crown Equipment Corporation is a private company operating globally in the manufacturing and other services (except public administration) sectors. The company's offerings include forklifts, tow tractors and material-handling equipment maintenance services. Founded in 1945, the company is currently headquartered... Subscribe to learn more
Global Equipment Company Inc.
Global Industrial Co. is a distributor of over a million industrial and maintenance, repair, and operation (MRO) products in North America under the Global™, GlobalIndustrial.com™, Nexel™, Paramount™, and Interion™ trademarks. Its product categories include storage and shelving, safety and security, carts... Subscribe to learn more
Mitsubishi Chemical Holdings Corporation
Mitsubishi Chemical Holdings Corporation is a public company operating globally in the manufacturing and manufacturing sectors. The company's offerings include noble & elemental gases, industrial use gases, industrial robots, pallet trucks and gas pressure regulators. Founded in 2005, the company is currently... Subscribe to learn more
NACCO Industries, Inc.
NACCO Industries, Inc. is a holding company that delivers aggregates, minerals, reliable fuels, and environmental solutions. It organizes its business into three business segments: the Coal Mining segment, which operates surface coal mines in North Dakota and Mississippi for power generation companies; the... Subscribe to learn more
Toyota Industries Corporation
Toyota Industries Corporation is a public company operating globally in the manufacturing and other services (except public administration) sectors. The company's offerings include front-end loaders, aerial lifts, pallet trucks, industrial trucks, forklifts. Founded in 1926, the company is currently headquartered... Subscribe to learn more
Jungheinrich AG
Jungheinrich AG is a public company operating globally in the manufacturing sector. The company's offerings include pallet trucks, forklifts and tow tractors. Founded in 1990, the company is currently headquartered in Hamburg, Germany with an estimated employee count of over 10,000. Subscribe to learn more
Kion Group AG
Kion Group AG is a public company operating globally in the manufacturing sector. The company's offerings include pallet trucks, forklifts, conveyor systems, automated storage & retrieval systems, automatic palletizers. Founded in 2013, the company is currently headquartered in Frankfurt, Germany with an Subscribe to learn more
Northern Tool & Equipment Co.
Northern Tool & Equipment Co. is a private company operating nationally in the manufacturing sector. The company's offerings include platform lifts, portable concrete mixers, welding machines, pallet trucks, industrial trucks. Founded in 1981, the company is currently headquartered in Burnsville, Minnesota,... Subscribe to learn more
System Inc.
Global Industrial Co. is a distributor of over a million industrial and maintenance, repair, and operation (MRO) products in North America under the Global™, GlobalIndustrial.com™, Nexel™, Paramount™, and Interion™ trademarks. Its product categories include storage and shelving, safety and security, carts... Subscribe to learn more
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Procurement Management KPIs for the Pallet Trucks Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Defect Density and Mean Time to Failure (MTTF). Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Performance & Reliability and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Defect Density |
|
Number of units Number of defective units |
The defect density measures how many supplier products are affected by defects. Suppliers with lower defect densities are preferred because it indicates fewer issues with their supply chain and creates less risk for buyers. |
| Mean Time to Failure (MTTF) |
|
Average distance driven before nonstandard maintenance is required Total mileage lifespan of the pallet truck |
The mean time to failure can be used to determine the average lifespan of a pallet truck. The mean time to failure can be used to predict capital expenses. |
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Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Experience and Expertise
How long have you been active in the pallet truck market? How long have you served operators in my market?
Could you provide a list of client references, along with contact information?
Competition
How do you win and retain business?
How long have you provided pallet trucks to your longest tenured client?
Product Lines
How many different brands do you carry?
What types of pallet trucks do you carry?
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Pallet Trucks RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should describe their organizations and explain why they are seeking pallet trucks.
Buyers need to describe the pallet loads, including weights, that need handling. This overview should give vendors enough information to quickly evaluate whether they can provide pallet trucks that can efficiently move the anticipated amount of weight.
Statement Of Need
Buyers must provide the intended application of the pallet trucks and the number of units desired.
Buyers should state the specifications of the pallet trucks required.
Project Budget
Buyers should explicitly state the amount of the contract award.
Buyers should explain when and how many payments will be made.
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We display average pricing information, trends and market data.
Our Reports include:
- Opportunity assessment
- Market dynamics
- Recent developments
- Positive and warning trends
- Buyer power levers
- Price environment and market pricing
- Geographic wage rates
- Global market updates
- Total cost of ownership
- Cost structure benchmarks and analysis
- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
- Vendor management and KPIs
- Sourcing strategy guidance
