According to the report, the global reach stacker market is expected to exceed $ 600 million by 2030 and grow at a CAGR of ~ 4% over the forecast period. The rapid expansion of the logistics and warehousing industries around the world is likely to boost the reach stacker market significantly around the world. The rise in trading practices at sea around the world is likely to increase the demand for material handling equipment, which should boost the reach stacker market worldwide. The increase in the import and export of goods and raw materials via seaports is expected to boost the reach stacker market due to various free trade agreements such as TPSEP, NAFTA and AFTA, which have helped various countries to significantly strengthen their economies. Various other systems are also built into vehicles to guide them and properly arrange containers in their intended place, which in turn is likely to boost the reach stacker market around the world as well.
An increase in trade due to increasing bilateral trade between the countries is expected to boost the market for reach stackers during the forecast period. China saw both its general trade volume and its share rise to 15.66 trillion yuan. China’s trade volume accounted for 56.4% of total foreign trade. Important trading partners for China are the USA, the European Union and ASEAN. Based on the drive, the global reach stacker market has been divided into internal combustion, electric and hybrid. The internal combustion engine segment held a large share of the global reach stacker market due to the increasing demand for heavy-duty hoisting machines. Strict rules and regulations for motorized reach stackers are expected to increase the demand for electric reach stackers worldwide.
Depending on the application, the seaports / terminals segment had a significant share of the global reach stacker market. Increasing investments in port modernization and the maintenance of old facilities around the world are likely to drive demand for reach stackers.
In terms of the region, the global market for reach stackers has been North America, Europe, Asia Pacific , divided into the Middle East &, Africa and Latin America. The Asia-Pacific region dominated the global reach stacker market in 2019. It is expected to hold a leading share during the forecast period due to the increase in the transportation of goods and services across the Asia-Pacific region. Followed by the Asia-Pacific region, Europe also held a significant share of the global reach stacker market due to the rapid expansion of the logistics and warehousing industry across Europe, which is experiencing significant demand for reach stackers. The increasing demand for electric and hybrid reach stackers due to the adoption of stringent emissions standards in Europe and Asia Pacific is expected to boost the reach stacker market in Asia Pacific and Europe.
Among the most important Players in the global reach stacker market include Cargotec Corporation, CVS Ferrari SpA, Dalian Forklift Co., Ltd., Hoist Material Handling, Inc., Hyster-Yale Group, Inc., Jay Equipment & Systems Pvt. Ltd., Konecranes, Liebherr Group, Linde Material Handling, Mitsubishi Forklift Trucks, SANY Group, Taylor Machine Works, Inc., Terex Corporation, Toyota Material Handling and Anhui JAC International Co., Ltd, BOMAQ Industries SLU, Komatsu Ltd and task forklifts .
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