Reach Stacker Market Share, Size, Trends, Industry Analysis Report, By Maximum Capacity (Below 30 Tons, 30 to 45 Tons, and Above 45 Tons); By Application; By Propulsion Type; By Sales Channel; By Region; Segment Forecast, 2024 – 2032
- Published Date:Feb-2024
- Pages: 120
- Format: pdf
- Report ID: PM4227
- Base Year: 2023
- Historical Data: 2019 – 2022
The global reach stacker market was valued at USD 2.03 billion in 2023 and is expected to grow at a CAGR of 5.0% during the forecast period.
The emerging need and demand for effective and highly adaptable material handling equipment across various industries, including logistics, transportation, and construction, and the continuous surge in the adoption of reach stackers worldwide as a result of a significant increase in container traffic and expansion of global trade, are among the primary factors influencing the growth of the market. In addition, the rising investments in port infrastructure and continuous expansion of port facilities to accommodate larger vessels and higher container volumes, along with the development of new reach stackers with improved capabilities, are likely to propel the market’s growth.
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- For instance, in September 2022, Reliance Transport, a Wiri-based specialist container cartage firm, announced the launch of its all-new electric reach stacker as a part of the company’s vision to become a carbon-zero operation by 2030.
Moreover, growing advancements in technology, including automation and remote operation capabilities and rising integration of new advanced features into reach stackers, result in enhanced safety and efficiency and could lead to strong adoption of reach stackers in various modern port operations worldwide.
However, high initial investments required for the purchasing or acquiring of advanced reach stackers, high maintenance and repair costs, and lack of skilled and professional operators to run such stackers efficiently are among the factors expected to hamper global market growth.
The market research report offers an in-depth analysis of the industry to support informed decision-making. It offers a meticulous breakdown of various market niches and keeps readers updated on the latest industry developments. Along with tracking the Reach Stacker Market on the basis of SWOT and Porter’s Five Forces models, the research report includes graphs, tables, charts, and other pictorial representations to help readers understand the key insights and important data easily.
Expansion of ports and terminals and development of electric and hybrid reach stackers fueling the market growth
The significant growth of global trade and surging need for efficient cargo handling at ports and terminals all over the world resulted in increased demand and need for advanced handling equipment like reach stackers in order to handle containers, driving the global market growth efficiently. Apart from this, companies in the market are constantly developing new and more advanced reach stackers, like electric and hybrid ones, with improved features, better fuel efficiency, reduced emissions, and enhanced automation, which has been generating huge growth potential for the market.
- For instance, in February 2023, Konecranes introduced 2 innovations to its lift truck line-up of reach stackers to carry empty containers & spreaders with greater or enhanced capacity.
The market is primarily segmented based on maximum capacity, application, propulsion type, sales channel, and region.
By Maximum Capacity
By Propulsion Type
By Sales Channel
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By Maximum Capacity Analysis
30 to 45 tons segment accounted for the largest market share in 2022
The 30 to 45 tons segment accounted for the largest share. The growth of the segment market is highly attributed to their widespread adoption globally due to their ability to handle containers efficiently and quickly, along with the surging proliferation among businesses seeking to improve their productivity and reduce handling costs.
Additionally, reach stackers of this capacity are widely known for their efficiency in stacking, transporting, and organizing containers, as they can conveniently handle multiple containers simultaneously, which increases their productivity and reduces turnaround times for loading and unloading operations.
By Application Analysis
Seaports & terminals segment held the significant market share in 2022
The seaports & terminals segment held the largest share, which is majorly driven by rising international trade and proliferation for containerization all over the world coupled with the growing investments in port infrastructure, including modernization and expansion of seaports & terminals. Besides this, the rising integration of various advanced technologies and automation in port operations, including the use of smart systems, remote monitoring, and data analytics, is also creating significant demand for reach stackers with innovative features and connectivity.
By Propulsion Type Analysis
Internal combustion engine segment registered remarkable share in 2022
The internal combustion engine segment registered a remarkable market share in 2022, mainly due to their versatility, which makes them able to operate in various harsh environments, including rough terrains and container yards, and also offer cost-effectiveness as compared to many other alternative power sources, especially in areas where fuel is relatively inexpensive or cheap.
In addition, internal combustion engine-powered reach stackers are highly suitable and preferable for a wide range of applications, including ports, container yards, logistics centers, and industrial warehouses because of their adaptability, flexibility, and durability, which, in turn, likely to open up new growth avenues for the market.
By Sales Channel
Aftermarket segment is expected to witness highest growth
The aftermarket segment is expected to witness the highest growth rate during the anticipated period, which is largely attributable to the increasing need for the replacement and maintenance of reach stacker parts along with the ability of aftermarket services to cater to the customization, modification, and adaptation of reach stackers to suit various specialized applications. In addition, efficient aftermarket services are gaining significant traction all over the world, as they help reduce overall downtime and ensure that the equipment remains productive and operational.
The OEMs segment led the industry market with a substantial share in 2022, which is majorly driven by the increasing use of containers for cargo transport and the growing expansion and modernization of ports and logistics infrastructure, particularly in emerging markets like India, China, and Indonesia, among others.
North America region dominated the global market share in 2022
The North America region dominated the global market. The regional market growth is largely attributed to a substantial increase in international trade volumes that led to containerized shipping in the region and a surge in the number of port infrastructure development initiatives such as port expansions, upgradation of existing equipment, and construction of new logistics facilities.
- For instance, as per a recent report published by the U.S. Bureau of Economic Analysis, the total international trade deficit in the United States increased from USD 58.7 billion in August to approx. USD 61.5 billion in September.
The Asia Pacific region will grow rapidly, owing to a rapid increase in focus on creating green & smart ports for enhancing global trade and operational efficiency and surging utilization of various advanced technologies into port operations such as the Internet of Things, automation, and artificial intelligence, among others, that helps in optimize resource allocation, streamline logistic processes, and improved operational efficiency.
Key Market Players & Competitive Insights
The reach stacker market is highly fragmented in nature, with the robust presence of global market players. The key players operating in the market are heavily investing in research & development activities in order to improve their product offerings continuously and also focusing on several business development and expansion strategies, including partnerships, collaborations, and acquisitions.
Some of the major players operating in the global market include:
- Anhui Jac International Co. Ltd.
- Bomaq Industries SL
- Cargotec Corporation
- CVS Ferrari
- Dalian Forklift Co. Ltd.
- Hoist Material Handling Inc.
- Hyster-Yale Group Inc.
- Jay Equipment & Systems Pvt. Ltd.
- Liebherr Group
- Linde Material Handling
- SANY Group
- TASK Forklift
- Taylor Machine Works Inc.
- Terex Corporation
- Toyota Material Handling
- In June 2023, Kalmar introduced a new, eco-efficient electric stacker at the TOC Europe conference in Rotterdam. This will be the company’s 1st electric reach stacker.
- In May 2022, Camblift introduced its new reach stacker that is capable of being driven on clean energy, electric or diesel, and the reach stacker is likely to provide a safer and ergonomic workplace experience.
Reach Stacker Market Report Scope
Market size value in 2024
USD 2.11 billion
Revenue forecast in 2032
USD 3.12 billion
5.0% from 2024 – 2032
2019 – 2022
2024 – 2032
Revenue in USD billion and CAGR from 2024 to 2032
By Maximum Capacity, By Application, By Propulsion Type, By Sales Channel, By Region
North America, Europe, Asia Pacific, Latin America; Middle East & Africa
Report customization as per your requirements with respect to countries, region and segmentation.
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Anhui Jac International Co. Ltd.,Bomaq Industries SL,Cargotec Corporation,CVS Ferrari ,Dalian Forklift Co. Ltd. are the key companies in Reach Stacker Market
Reach Stacker Market is expected to grow at a CAGR of 5.0% during the forecast period.
maximum capacity, application, propulsion type, sales channel, and region. are the key segments covered
Expansion of ports and terminals and development of electric and hybrid reach stackers fueling the market growth are the key driving factors in industrial Reach Stacker Market
The global reach stacker market size is expected to reach USD 3.12 billion by 2032