WILMINGTON, DE / ACCESSWIRE / February 3, 2023 / Transparency Market Research Inc. - The global reach stacker market is projected to expand at a CAGR of 5.2% from 2022 to 2031, according to the market outlook presented in the research report by Transparency Market Research.

Increase in adoption of biometrics, automated material handling devices, and GPS solutions has resulted in rapid expansion in the logistics industry. Reach stackers are gaining traction as drivers can receive and send data across networks with the help of IoT applications in a safe and secure manner. Demand for partially and fully autonomous reach stackers is likely to increase in the near future, which in turn is projected to drive market growth during the forecast period.

Key Findings

• Increase in trade activities and rapid expansion of ports in emerging economies are likely to drive the demand for reach stackers during the forecast period. Moreover, the global industry is expected to witness significant business opportunities owing to increase in the number of containers at ports and rise in number of international companies that need equipment for container handling.
• Major developed and developing countries across the globe are increasing investments in order to improve their port infrastructures. They are also focusing on the upgrade and maintenance of ports. These efforts are anticipated to boost the size of ports, which in turn is likely to fuel the capacity of container import and export and container handling at ports.
• Rise in penetration of the Internet and mobile phones and improved spending power of people from developed and developing countries have resulted in an increase in the trend of online shopping. The expansion of logistics and e-commerce industries in these countries has boosted the demand for modern material handling equipment in warehouse centers. Thus, e-commerce as well as third-party logistics organizations are increasing the usage of reach stackers at their distribution centers and warehouses in order to keep merchandise organized. This factor is anticipated to bolster industry growth during the forecast period.

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Reach Stacker Market: Growth Drivers

• Increase in number of port development projects is expected to fuel demand for reach stackers in the next few years
• Rapid expansion of the logistics industry is likely to create substantial business opportunities in the market

Regional Analysis

• As per the research report by TMR, Asia Pacific is anticipated to dominate the global industry during the forecast period. This can be attributed to rise in demand for material handling equipment, such as reach stackers, due to increase in transportation of commodities and goods by sea. Moreover, the market in Asia Pacific is driven by increase in demand for automated and highly efficient operations at seaports.
• Europe is the second-leading market owing to the presence of key companies. The regional market is likely to witness significant growth opportunities in the next few years due to rapid expansion of the logistics sector. Moreover, increase in focus of regional players on the adoption of cutting-edge technologies in material handling equipment is propelling regional market growth.

Reach Stacker Market: Competition Landscape

• Players are focusing on adoption of strategies such as product launches and collaboration in order to expand their businesses
• Industry leaders are investing heavily in R&D activities to develop technologically advanced reach stackers

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Reach Stacker Market: Key Players

• CVS ferrari SpA
• Cargotec Corporation
• Hoist Material Handling, Inc.
• Dalian Forklift Co., Ltd.
• Hyster-Yale Group, Inc.
• Liebherr Group
• Konecranes
• Mitsubishi Forklift Trucks
• Linde Material Handling
• Taylor Machine Works, Inc.
• Jay Equipment & Systems Pvt. Ltd.
• SANY Group
• Toyota Material Handling
• Terex Corporation
• BOMAQ INDUSTRIES, SL
• Anhui Jac International Co., Ltd.
• TASK Forklift

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Reach Stacker Market Segmentation

Capacity

• Below 30 Ton
• 30-45 Ton
• Above 45 Ton

Propulsion

• IC Engine
• Electric
• Hybrid

Application

• Sea Port/Terminal
• Yard/Landside
• Industrial

Regions Covered

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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