Electric Pallet Handling Equipment Market Grows at 5.6% CAGR Amid Surge in Li-Ion Battery Adoption

According to the latest market research study published by P&S Intelligence, the global electric pallet jack and stacker market is on a steady growth path, with its value projected to rise from USD 5,109.9 million in 2024 to USD 7,811.5 million by 2032, growing at a CAGR of 5.6% during 2025–2032. This promising expansion is largely driven by the increasing demand for integrated and automated production lines across multiple industries. As manufacturing output rises globally, businesses are turning to smart technologies to boost productivity and minimize errors.

Notably, the adoption of automated material handling systems is surging across sectors such as logistics, retail, food & beverages, and manufacturing. The introduction of cost-efficient lithium-ion (Li-ion) batteries has significantly enhanced the performance and cost-effectiveness of electric pallet equipment, encouraging market players to expand their product lines in this segment. These technological advancements are reshaping how industries manage operations, fueling demand for electric pallet jacks and stackers worldwide.

Key Insights

• In 2024, the market reached USD 5,109.9 million and is expected to grow to USD 7,811.5 million by 2032, with a CAGR of 5.6% from 2025 onward.
• The electric pallet jack category held a dominant market share of 70% in 2024, owing to its essential role in routine goods transportation and labor reduction in industries such as healthcare, logistics, and food & beverages.
• Electric pallet stackers, particularly straddle and counterbalanced variants, are the fastest-growing category due to their efficiency in lifting and stacking applications.
• By type, operator-driven models accounted for 90% of the market share in 2024, especially in retail and manufacturing environments where material movement is frequent and repetitive.
• Self-driven variants are emerging as the fastest-growing type, backed by advancements in automation and smart factory setups.
• In terms of battery types, lead–acid batteries held the largest share (55%) in 2024 due to their durability and cost-effectiveness, though Li-ion batteries are projected to grow at a faster CAGR of 5.8%, owing to their higher energy density and ease of maintenance.
• The above 2,000 kg load capacity category is expected to grow the fastest at a 6% CAGR, favored in industrial settings for handling heavy materials with speed and stability.
• Order picking is the fastest-growing application segment (6.5% CAGR), driven by e-commerce and just-in-time inventory needs, which require precise and rapid fulfillment.
• Warehousing and logistics remained the largest end-use segment (50% share in 2024), while the food & beverage sector is projected to grow the fastest at 6.8%, due to increasing demand for hygienic, efficient material handling.
• Regionally, Asia-Pacific led the global market with a 40% share in 2024, and it is poised to grow at a 7% CAGR, supported by industrial expansion, urbanization, and the shift toward eco-friendly logistics in countries like China and India.
• China is projected to lead APAC’s growth due to its rapid industrialization and focus on sustainable material handling solutions.
• Key players driving innovation and competition in the market include Jungheinrich AG, Hyster-Yale, KION Group, Crown Equipment, EP Equipment, Komatsu Ltd., and Toyota Industries, among others.
• Recent product launches highlight market dynamism:
• Bobcat (March 2025) introduced high-capacity Li-ion batteries.
• Toyota (Jan 2025) added new electric forklifts to its Core series.
• CLARK (Aug 2024) launched four pedestrian pallet truck models.
• Linde (July 2024) released MT22 and MT15B pallet trucks in North America.
• Hyundai (July 2023) rolled out advanced forklift models across various series.
• The market remains fragmented, offering opportunities for both established manufacturers and emerging firms to cater to niche demands across industries and applications.