According to a recent study paper released by a research agency, Indian pallet market is expected to grow exponentially in the coming years. The paper has projected pallet market reaching close to $1 billion by 2024. In precise terms, the estimated worth of the annual pallet business in expected to touch Rs 6,223 crore or $971 million by 2024.
Post-GST, there is a tremendous surge in warehousing leasing. Furthermore,the stakeholders in the business planning big warehouses equipped with advanced automation and technological support. These factors are expected to give a major push to pallets volume. Going ahead, warehouse operators are also expected to offer ‘pallet per day usage’ facility to customers which will bolster the pallet business.