The global reach stacker market is anticipated to expand at a CAGR of 5.5% between 2024 and 2032. Consequently, due to the increased worldwide mobility of goods and products. This will increase the demand for reach stackers in numerous industries and ports. Major manufacturers of material handling equipment are investing in the expansion of reach stackers' load capacities. Despite this, it is anticipated that the development of electric and hybrid reach stackers would fuel the worldwide reach stacker industry. The modern world is sustained by the steady flow of goods and objects. The need of speedy, safe, and precise container handling in ports and terminals has increased as the efficacy of data-driven logistics rises. This makes it even more challenging to imagine a seaport without a reach stacker, which can lift and transport tens of thousands of containers every day. Emerging technologies, such as GPS and automated material handling equipment, as well as biometrics, are defining the future of logistics in the logistics industry, which is through a period of continual rapid development. The storage capacity of ports is anticipated to expand as a result of increasing investments in port quality and size by various nations. It is projected that the development of autonomous and semi-automated reach stackers will boost the worldwide reach stacker market. The global market for reach stackers is anticipated to be driven by the expansion of ports and trade between developing nations. During the forecast period, the demand for reach stackers is predicted to be driven by a growth in the quantity of containers at ports and the number of companies utilizing container handling equipment worldwide. The growing popularity of online shopping has increased the need for sophisticated material-handling equipment in warehouses. To manage product storage, e-commerce and third-party logistics companies on the market are increasingly installing reach stackers in warehouses and distribution centers.
Due to a variety of free trade agreements, including NAFTA, AFTA, and TPSEP, the volume of international trade has expanded tremendously during the past few decades. The increase in maritime trade is projected to be one of the primary factors driving the expansion of the global reach stacker market in the future years. The need for material handling equipment such as reach stackers continues to rise due to the burgeoning e-Commerce sector, the major development in activity across seaports worldwide, the booming industrial sector in developing countries, and the growing emphasis on fostering economic growth.
The market for material handling equipment has risen substantially over the past decade due to technological advancements and considerable advances in the application of various engineering principles. Current reach stacker market participants are increasingly emphasizing the customization of reach stackers to fulfill the requirements of clients in a number of sectors. In order to gain a competitive advantage during the forecast period, market participants in the current climate are also likely to concentrate on improving the efficiency and quality of their products. The global market for reach stackers is anticipated to surpass $600 million by the end of 2030 as a result of many factors, including expanding commerce, rising seaborne trade, and expanding industrial demand.
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Despite the fact that the need for reach stackers for warehouse applications is expected to remain prominent, the demand from seaports and terminals has steadily increased over the past few years, and this trend is expected to accelerate throughout the assessment period. In recent years, warehouse management has slowly attracted a great deal of attention due to the spectacular rise of the worldwide e-commerce business. In order to maximize warehouse efficiency, workflow, and output, there has been substantial growth in the use of reach stackers. This factor is expected to increase the global reach stacker market over the forecast period. As their name suggests, reach stackers are primarily designed for reach and stack applications in which the use of conventional forklifts is limited due to their height and reach. Reach stackers continue to have a positive impact on the warehouse storage fleet and offer a practical solution for warehouse applications that need the reaching and stacking of materials. In addition, as reach stackers are able to operate in narrow aisles and reach heights of up to 14 meters, their utilization continues to rise. Among the most widely deployed reach stackers are side loaders, pallet jacks, cranes, and turret trucks. The need for hybrid and electric reach stackers is growing as environmental concerns and the regulatory environment evolve.
The international shipping industry continues to be the lifeblood of the global economy, accounting for 90% of global trade. According to UNCTAD data, global maritime trade is expanding at a quicker rate of 4 percent. The handling equipment deployed in harbors and seaports has gained substantial attention in recent years. This is owing to the fact that shipping provides the foundation for intercontinental trade, the transportation of enormous quantities of raw materials, and the import/export of reasonable food and manufactured goods. Seaborne trade continues to expand, providing worldwide consumers with advantages through competitive freight rates. This rising volume of marine trade has increased the demand for container handling technologies that can operate precisely and rapidly even in the most congested seaports.
As businesses gravitate toward innovative and technologically-driven solutions for a variety of applications, manufacturers of reach stackers have shifted their focus to the production of highly-featured variants. Numerous market competitors, for instance, provide reach stacker tool changer attachments that let operators easily switch between a steel slab handler, a c-hook coil handler, and a container spreader, therefore boosting the equipment's versatility.
As seaborne trade continues to accelerate and create a demand for highly efficient operations at seaports, port equipment is becoming increasingly automated. In addition, a number of manufacturers of reach stacks are investing in current technology, such as automation, in order to capitalize on the growing need for the speedy and efficient handling of containers of varying sizes. Manufacturers' increased attention to implementing automation to produce highly efficient and real-time reach stackers is anticipated to positively impact the market's growth.
In response to the growing needs of end customers for container handling equipment, various market participants are stressing the incorporation of dual solutions into their offerings. They are prioritizing the manufacture of hybrid versions that can load and unload bulk containerized cargo with a single piece of equipment. Special connection characteristics that allow the driver to move the machine, lift containers, and rotate them are projected to attract a big number of port machinery handlers within the next several years.
Although the market for reach stackers continues to expand at a consistent rate, a number of problems continue to limit the growth of market participants. Reach stackers continue to be rented rather than purchased by end users as a result of the equipment's high starting cost and ongoing costs. As a growing number of end users recognize the financial advantages of renting pricey equipment as opposed to owning it, reach stacker sales are quite likely to fall. Several manufacturers in the reach stacker sector are leveraging cutting-edge technology to create environmentally friendly models that can effortlessly carry and transport even the heaviest containers without compromising mobility.
As part of the H2Ports project and the European Horizon 2020 initiative, Hyster Europe, for example, has announced that it is creating a zero-emission reach stacker with a hydrogen fuel cell for the Port of Valencia. In addition, a number of market participants are experimenting with various permutations and combinations to reduce the overall price of the equipment.
Carbon emissions and climate change have arisen as a potential concern for the world's top industrialized and developing nations' governing authorities. The transportation industry contributes significantly to greenhouse effects, accounting for around 24% of global carbon dioxide emissions. To minimize carbon emissions from the transportation industry, widespread implementation of technologies with low or zero carbon emissions is required. Alternative fuel vehicles (AFV) provide significant energy-sustainable transportation and have emerged as a feasible innovation to meet the problem of zero-carbon emission technologies. Zero-emission vehicles are actively exploring opportunities to electrify the whole ecosystem in the logistics and production services business, which accounts for a large amount of the U.S. gross domestic product. The Swedish port of Helsingborg, for example, will buy its first electric Kalmar reach stacker in July 2023. The wheelbase of the electric reach stacker is 6.5 meters, and it is powered by a 587 KWh battery pack. Additionally, the equipment is available with 45-ton, 32-ton, and 16-ton lifting capacities. With the increase in international trade, the government's principal worry remains the capacity of existing ports and the desire for the development of new ports. As part of multiple projects, governments are spending funds for the expansion of existing ports and the development of new ports in order to fulfill the demand. In light of these advances and factors, it is projected that the market for electric reach stackers would continue to increase.
In terms of application, maritime ports and terminals accounted for the greatest share of the global reach stacker market. Rapid port expansion and a large number of new installations are anticipated to stimulate growth in the reach stacker market.
Despite the ongoing trade conflict between the world's two largest economies, the United States and China, trade exports to other regions of the world were in high demand and kept the region's ports busy. During the predicted time, it is anticipated that trade tensions between these two nations would abate and commerce will return to normal, resulting in a rise in export volumes from the region. The region accounts for around forty percent of the world's total trade volume. Governments in the region are aggressively investing with an eye toward the future in order to construct high-capacity ports and maintain the environment.
China has 34 major ports and 2,000 lesser ports that extend the country's commercial route. The economic and historical contributions of a few of these ports to the volume of international trade make them internationally significant. In addition, 158 ports on China's eastern and southern coasts play a crucial role in import-export activities. The Chinese government is encouraging the development of ports of international caliber. Regional and other ports will be extended with the ambitious goal of reaching advances in the green, intelligent, and safe growth of major ports by 2025. By 2050, various clusters of world-class ports with leading development levels should be formed. By 2035, major ports should achieve world-class status.
There is an ongoing need to expand India's ports and trade-related infrastructure to support the 'Make in India' effort and drive manufacturing sector growth. There are thirteen major ports that handle the majority of the nation's freight and container traffic. In addition, the west coast is home to the ports of Kandla, Mumbai, Mangalore, Mormugao, JNPT, and Cochin. Chennai, Visakhapatnam, Tuticorin, Kolkata, Paradip, and Ennore are the ports of the east coast, in comparison to other cities.
The region's increased demand for material handling and transportation services is spurred by the region's growing port population. The leading operators in the region are manufacturing modern, clean, and efficient fuel equipment for the region's ports in an effort to minimize carbon footprints and increase output efficiency. Kalmar has announced that it would deliver three Eco reach stackers to North China Yantai Port in June 2023 in an effort to enhance the port's overall efficiency, financial stability, and sustainability. The Yantai Port is situated in the northern region of the Shandong Peninsula, a key node on the twenty-first century's maritime silk route. In addition, since the 1990s, Kalmar and Yantai Port have maintained consistent longer-term business relationships. In light of this development, it is projected that the Asia-Pacific area would enjoy a strong growth rate for reach stackers during the projection period.
The Reach Stacker Market is dominated by a small group of market participants. CVS Ferrari, Kalmar, Konecranes, Liebherr, and others are among the market's most prominent companies. Through mergers and acquisitions with several industry participants, global powerhouses are expanding their market share. On October 1, 2020, Cargotec Corporation and Konecranes Plc signed a combination agreement and merger plan to merge the two companies into the Future Company. The Future Company is predicted to be a customer-centric worldwide leader in sustainable material flow. The country's largest corporations are creating strategic alliances with global behemoths in order to attain a major market share. For instance,
Why Germany granted Konecranes the largest contract ever for a reach stacker in March of 2020. 39 reach stackers were ordered from the distributor of Konecranes, Richter Fordertechnik GmbH & Co. KG. It is estimated that deliveries would commence in the third quarter of 2020 and continue through the first quarter of 2021.
To maintain a competitive advantage in the current reach stacker market, industry participants are compelled to expand their product offerings and give customized solutions to their end users due to the changing industrial and regulatory environment. As an illustration, Konecranes has announced the release of the first-of-its-kind hybrid reach stacker, which is expected to comply with emission rules, increase productivity, decrease fuel consumption, and improve operator performance. XCMG will release an electric reach stacker with a maintenance-free battery, a smart power management system, and energy recycling technology in September 2020 in response to the increased emphasis on decreasing carbon emissions.
