Industry Analysis & Industry Trends
The industry's growth slowed during the recession as downstream demand from the retail and manufacturing sectors declined. This factor contributed to a decline of industry revenue in 2008 and 2009 as freight volumes declined. However, freight volumes and total trade value have since increased, boosting the demand for pallets and skids used in transportation and warehousing of goods. Furthermore, the industry has benefited from an increasing number of companies that use pallet rental programs rather than purchasing pallets. These trends contributed to growth in the industry over the five years to 2007, and will continue through 2017.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Pallet and Skid Rental industry is in the growing phase of its industry life cycle. In the 10 years to 2017, IBISWorld estimates that the industry's contribution to the overall economy, as measured by industry value added (IVA), will grow at an average rate of 3.0% per year. US GDP is forecast to increase at an annualized rate of 1.8% during the same period. Because the industry is growing at a faster rate than the overall economy, the industry is considered to be in a growth stage of the industry life cycle.
Another reason that this industry is considered to be in the growth stage is that an increasing number of companies are renting pallets rather than purchasing them... purchase to read more