How Has the Reach Stacker Market Size Evolved in Recent Years?
The reach stacker market has seen considerable growth due to a variety of factors.
• Recently, the market size for reach stackers has shown considerable growth. The projection is that it will escalate from $2.56 billion in 2024 to $2.7 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.4%. This growth trajectory in the past can be linked to factors such as the expansion of global trade, development in port infrastructure, increased adoption of renewable energy, enlargement of cargo vessel size, and the surge in container traffic.
What are the Market Size and Expected Growth Rates for the Reach Stacker Market?
The Reach Stacker market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the reach stacker market is anticipated to witness significant expansion in the forthcoming years. The market is predicted to swell to $3.47 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.5%.
The burgeoning in this span can be attributed to factors such as environmental norms, urbanization and industrial growth, extension in port capacity, the rise of e-commerce, the acceptance of renewable energy and higher adoption in emerging regions. The forecast period is set to be characterized by trends including the assimilation of telematics and IoT, the emergence of electric and hybrid reach stackers, enhancements in operator convenience and safety, automation and remote control systems, and diversification and adaptability.
Which Key Drivers Are Propelling The Reach Stacker Market's Growth?
The global reach stacker market is being driven by the significant increase in worldwide seaborne trade. Seaborne trade involves the shipment of goods by sea, and the related trade balance reflects the differences in volumes of goods loaded and discharged, which are closely tied to the transit policies, operations, and infrastructure of other nations. Reach stacker vehicles, used in sea terminals or ports to transport intermodal cargo containers and facilitate seaborne trade, are witnessing increasing demand. Their growing use is rendering benefits to consumers globally via reduced freight costs, improved shipping efficiency, and enhanced economic liberalization. For example, a report by the Switzerland-based United Nations Conference on Trade and Development (UNCTAD) in October 2023 predicted a 2.4% growth in maritime trade volume for 2023, a rebound from a 0.4% decline in 2022. Consequently, the global rise in seaborne trade is fueling the expansion of the reach stacker market.
What Are The Key Segments Within The Global Reach Stacker Market?
The reach stacker market covered in this report is segmented –
1) By Capacity: Below 30 Ton, 30-45 Ton, Above 45 Ton
2) By Propulsion: Internal Combustion Engine, Electric, Hybrid
3) By Application: Sea Port Or Terminal, Yards Or Landside, Industrial
Subsegments:
1) By Below 30 Ton: Small Reach Stackers, Compact Models
2) By 30-45 Ton: Medium Reach Stackers, Standard Models
3) By Above 45 Ton: Heavy-Duty Reach Stackers, Specialized Models For Industrial Use
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How Are New Trends Impacting The Size Of The Reach Stacker Market?
The emergence of technology-based strategies is a key trend in the reach stacker market. To maintain their standing in the market, notable players are integrating unique, advanced solutions. For instance, Camblift, a material handling equipment maker from Sweden, rolled out its inaugural reach stacker in May 2022. The product offers an efficient, safe, ergonomic work environment, and can be obtained worldwide in two versions: electric and diesel, both incorporating eco-friendly fuel technology. It is also designed to run on 'clean' energy.
Who Are the Key Players In The Reach Stacker Market?
Major companies operating in the reach stacker market include:
• Cargotec Corporation
• Komatsu Ltd.
• Dalian Forklift Co. Ltd.
• Hoist Material Handling Inc.
• Hyster-Yale Group Inc.
• Konecranes Oyj
• Liebherr Group
• Linde Material Handling GmbH
• CVS ferrari S.P.A
• SANY Group
• Task Forklift
• Hangcha Forklift
• CTR Manufacturing Industries Private Limited
• Toyota Material Handling Group
• Kalmar
• Terex Corporation
• Taylor Machine Works Inc.
• Anhui Heli Co. Ltd.
• Lonking Holdings Limited
• Manitou Group
• Doosan Corporation Industrial Vehicle
• Hyundai Heavy Industries Co. Ltd.
• Jungheinrich AG
What Are The Regional Insights Into The Reach Stacker Market?
Asia-Pacific was the largest region in the reach stacker market in 2024. The regions covered in the reach stacker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
