According to the new report published by Industry Research Place Global Closed-Loop Rental System Market is valued at USD 6842.54 Million in 2020 and is projected to reach USD 9545.53 Million by 2026 with the CAGR of 5.77 % over the forecast period.

Close loop system signifies the ability of the firm to integrate forward and reverse product flow which intern positively impacts the economic and environment rather than just focusing on individual production process.
In the past decade, considering the mounting globalization of markets and rising environmental concerns has boosted the market for pallet pooling and rental system. That time, pallet management was very tedious, trade between multiple companies located in various parts of the word. To avoid the foreseeable problems, few companies used to simplify their system by opting for either a one-way rental or a pallet exchange/pooling program. To retract the pallet back to the destination was very costly, and when shipping involves cross continent trade, the cost of retracting goes higher than that of the pallet. In turn resulted in abandonment of pallets, or some prefers to use single use pallets.

To overcome such outcomes, the most developed countries have created various types of closed loop rental system, which in turn resulted in lower environmental impact and also effective and economical solutions for the users. Now days the pallet rental and management system is far ahead than it used to be in back times. With the integration of smart solutions and technologies has leveraged the operational performance and has optimized the entire loop.

This report analyses the global market for Closed-Loop Rental System (Pallet Pool System) . The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market.

Major Players in Closed-Loop Rental System (Pallet Pool System) Market
1. Brambles Ltd
2. Loscam
3. Horen
4. Tosca
5. Schoeller Arca
6. Japan Pallet Rental Co., Ltd.
7. Korea Pallet Pool Co., Ltd.
8. Nippon Pallet Pool Co., Ltd.
9. PMR Pallet Ltd. Co.
10. Peco Pallet
11. iGPS Logistics
12. Kamps Inc.
13. La Palette Rouge.
14. Others

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Global Closed-Loop Rental System (Pallet Pool System) Market COVID-19 impact Analysis
Governments cross border implications to curb down pandemic have left supply chain under strain due to restrictions on free movement of goods. The disruption in supply chain affects the pallets demand as warehouse, logistics, and manufacturing facilities are under unsetting condition.
Significant price surge in the wood prices, due to shut down and reduced operations in the mills. UK and Baltics are experiencing upward pricing pressure as majority of the pallet and packaging industry sources its raw materials from there only.

Companies are adapting to and rolling out variables business models to cope with the situations, like combination of B2B and B2C sales. The practice of bulk freight and breaking down pallets to facilitate purchase at consumer level, these models are becoming more promising to adapt various selling situations.
With impulsive supply chains, manufacturers will need to make space for additional work-in-progress (WIP). Since pandemic hit, supply chain interruptions are new normal, and manufacturers are preparing to handle shortfall. Amplified WIP inventory will be another factor for integrating high density automation into the warehouse.

Air, trucking and rail cargo services are at the uppermost risk to suffer severe disruptions, as well as port cramming, as the COVID-19 panic swells and are likely to last. Flexport, having global supplier and client base network of more than 10,000, is also significantly affected by the pandemic impacts, as it has major share of almost 52% of the company’s U.S. seaborne inbound handling from China. Flexport and DHL have warned of an augmented rate of unpredictability for airfreight, as well as marine shipping capacity cuts.

Omni-Channel includes letting the customer purchase from anywhere (in-store, online) and delivering the product where they’d like, this also includes the return of the product. As, pandemic has been demanding need for more smarter warehouses and freight forwarders to meet the post pandemic demand, in turns affecting the pallet industry positively due to rub-off effects of the auxiliary markets.

This report highlights the impact of the Covid-19 pandemic on Global Closed-Loop Rental System (Pallet Pool System) Market. By combining data from a range of industry sources, as well as predictive modeling and market trend analysis, we provide an evidence-based set of projections that will allow organizations to plan their strategies more effectively. The report gives in depth analysis of short term and long term impacts of epidemic on the industry.

The COVID 19 impact assessment of Global Closed-Loop Rental System (Pallet Pool System) Market is divided into following sections:

Section1: Pre Lockdown
This part of the report looks at how market changed throughout early 2020, as the spread of COVID-19 intensified on different geographies.

Section2: During Lockdown
This part of the report collects data across the sector to know how people have responded to lockdown. It analyses the impact of the epidemic on the workforce in the industry and disruption in various regions and countries

Section3: Post Lockdown
This part of the report project what sector recovery could look like and summarizes ways in which the business landscape could shift.

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Market Segmentation
• Type
o Nestable Pallet Pool System
o Stackable Pallet Pool System
o Rackable Pallet Pool System
• Application
o FMCG
o Pharmaceuticals
o Electronics
o Chemical and Petrochemical
o Machinery Manufacturing Industry

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Market Dynamics

Market Drivers

Population growth
Population growth will be the prominent and primitive factor that stimulates pallet demand through increased consumption of products that use pallets in their supply chain, such as FMCG products, chemicals and construction materials etc. The global population is forecast to increase from 7.8 billion in 2020 to 9.8 billion in 2050, a CAGR of 0.4%.

Growth in global trade
The increased cross border trade activities past decades has directly reflected the demand surge for the pallets. The sustained globalization has resulted in higher growth rate of global merchandise trade that of global GDP. The volume of world merchandise trade jumped 15.0% year-on-year in the second quarter of 2020 (revised up from -17.3 % in October) as countries around the world levied lockdowns and travel limitations to curb the spread of COVID-19.

More work-in-process (WIP) inventory
Taking account of supply chain discrepancy due to COVID-19 Pandemic, now manufacturers are getting used to the new normal cross border trade implications. To cope with the short supply of raw materials, which has resulted in shut down of manufacturing facility due to limited stock; they are stockpiling more WIP to maintain streamline flow of the manufacturing facility. The increased in WIP inventory demands the additional storage facility which in turn boosts pallet requirement.

Market Restraints

High operational cost
The transportation of reused pallets back to their warehouse and back to system incurs cost of handling, storage, repair, labor and movement. As all the cost associated with the pooling model is bear by the pooling company; the cost of pooling model gets high. Customers have to pay additional cost, in order to counter balance the upfront investment.

Pallet size
To roll out the precise and consistent pallet size is very crucial to meet the future and current demand getting from warehouses as they are transforming storage facility to smarter one by integrating automated systems. It gets difficult to maintain consistency for the pallets that have been extensively repaired. Plastic, steel, and engineered wood pallets typically maintain the designed dimensions across thousands of units. Sizing is vital in operations that employ automated guided vehicles, storage and retrieval systems, and other technology.

Rejected loads
With large number of serving locations, if pallets distributed are of not good quality standard; retailers have a policy of refusing them on sight to avoid taking on damaged products or risking injuries to their employees, and equipment caused by broken pallets. When a load is rejected, perishable products have to be discarded, causing significant losses for manufacturers. Even returnable products have to be transported back to the warehouse to be repacked, increasing overall transportation costs. Retailers may even charge a “bad pallet fee,” which can quickly add up. If such an inevitable activities happens on daily basis; considering the wide operational network, it could cost more and hamper the profitability of the business in the long run.

Report Coverage
• An overview of the Global Closed-Loop Rental System (Pallet Pool System) Market
• In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market
• Global Closed-Loop Rental System (Pallet Pool System) Market revenue data historic and forecast analysis (2015 to 2026)
• Characterization and quantification of the market segments for Closed-Loop Rental System (Pallet Pool System) Market
• Market share analysis of key market participants and their competitive landscape
Important Questions Answered by Global Closed-Loop Rental System (Pallet Pool System) Market Report
• What is the impact of COVID 19 epidemic on the Global Closed-Loop Rental System (Pallet Pool System) Market?
• Which is mostly affected region, country?
• Which is the current largest and fastest-growing region?
• What is the market size and growth rate of the Global Closed-Loop Rental System (Pallet Pool System) Market?
• What are current factors affecting the growth of market?
• What are Key trends and opportunity areas?
• Within Closed-Loop Rental System (Pallet Pool System) Market, which segments are fastest growing & emerging strongly? What are the drivers and restraints for each segment? What are vendor competencies by segment?
• What are the major strategies adopted by leading market companies?
• What are company challenges and essential success factors by market segment?
• How company offerings and supply chain capabilities are shifting to meet emerging market needs?

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