Rockville, July 11, 2023 (GLOBE NEWSWIRE) -- As per the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the Reach Stacker Market is valued at US$ 2.64 billion in 2023 and is predicted to expand at a CAGR of 5.5% from 2023 to 2033.
Reach stackers are specialized vehicles designed for lifting, moving, and stacking containers and other heavy loads in ports, terminals, and other logistics applications. They are widely used in the shipping and transportation industry to efficiently handle containers of various sizes. The market is experiencing significant growth driven by the expansion of global trade, increasing containerization, and the need for efficient and reliable handling of cargo.
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Demand for reach stackers is closely tied to the growth of seaports, container terminals, and logistics hubs worldwide. Rising international trade volumes are leading to high container traffic, necessitating the use of reach stackers for efficient handling and movement of containers in ports and terminals. Infrastructural development projects, such as the construction of new ports and the expansion of existing ones, are creating a demand for reach stackers to handle the growing volume of cargo.
The trend of containerization, where goods are transported in standardized containers, is revolutionizing the shipping industry. Reach stackers play a vital role in loading, unloading, and stacking these containers. Reach stackers also offer enhanced operational efficiency compared to traditional handling methods. Their ability to lift and stack containers vertically allows for better space utilization and faster loading/unloading times.
Key Takeaways from Market Study
- The global reach stacker market is projected to reach US$ 4.51 billion by 2033.
- Growing shift towards tackling environmental issues and the need for cleaner & more sustainable operations is driving the sales of electric reach stackers.
- North America and Europe hold significant market shares due to their advanced logistics infrastructure and extensive seaport facilities.
- China, India, and other countries in the Asia Pacific region are emerging as profitable markets for reach stacker producers due to the presence of major shipping hubs, rapid industrialization, and expanding seaborne trade.
“Key manufacturers of reach stackers are investing heavily in R&D activities to improve the design & features of their current models and expand their customer base,” says a Fact.MR analyst.
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Competitive Landscape
Key players in the reach stacker market are investing in research and development initiatives to continuously improve their models. They are also focusing on enhancing the lifting capacity, fuel efficiency, automation features, and operator comfort of reach stackers.
- In March 2020, Konecranes secured a record-breaking contract for the supply of reach stackers in Germany. The contract, which is the largest in Konecranes history, was won in collaboration with their distributor Richter Fördertechnik GmbH & Co. KG. The order consists of 39 reach stackers with varying handling capacities, including 16-ton, 22-ton, and 6-ton containers.
Key Companies Profiled
- CVS Ferrari
- Kalmar
- Konecranes
- Cargotec Corporation
- Dalian Forklift Co., Ltd.
- Hoist Material Handling, Inc.
- Jay Equipment & Systems Pvt. Ltd.
- Hyster-Yale Group, Inc.
- Bomaq Industries SL
- Linde Material Handling
- Liebherr Group
- Mitsubishi Forklift Trucks
- Taylor Machine Works, Inc.
- Terex Corporation
- SANY Group
- Toyota Material Handling
- Anhui Jac International Co., Ltd.
- TASK Forklift
Key Market Developments
- In July 2022, Kalmar, a leading player in the reach stacker industry, made the strategic decision to spin off its care business division. This move was aimed at redirecting its focus towards a broader range of products, specifically reach stackers, shuttle carriers, spreaders, straddle carriers, and forklifts. By divesting the care business division, Kalmar aimed to concentrate its resources and expertise on expanding its portfolio in the field of container handling equipment and related solutions.
- Camblift introduced its first electric reach stacker in May 2022. It was designed to offer safer and higher production in a dependable and sustainable manner.
Key Segments of Reach Stacker Industry Research
- By Maximum Capacity:
- Below 30 Tons
- 30 to 45 Tons
- Above 45 Tons
- By Application:
- Seaports/Terminals
- Yards/Landsides
- Industrial
- By Propulsion Type:
- Internal Combustion Engine
- Electric
- Hybrid
- By Sales Channel:
- OEMs
- Aftermarket
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global reach stacker market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on maximum capacity (below 30 tons, 30 to 45 tons, above 45 tons), application (sea ports/terminals, yards/landsides, industrial), propulsion type (internal combustion engine, electric, hybrid), and sales channel (OEMs, aftermarket), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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