Overview and Scope
A reach stacker is a vehicle used to transport intermodal cargo containers quickly over short distances in small or medium-sized terminals or ports. Reach stackers are prominently used to stack and handle various types of containers in places such as ports, railroad stations, and industrial sites.
Sizing and Forecast
The reach stacker market size has grown strongly in recent years. It will grow from $2.45 billion in 2023 to $2.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to global trade expansion, port infrastructure development, renewable energy adoption, cargo vessel size increase, growing container traffic.
The reach stacker market size is expected to see strong growth in the next few years. It will grow to $3.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to environmental regulations, urbanization and industrialization, port capacity expansion, e-commerce growth, renewable energy adoption, increasing adoption in developing regions. Major trends in the forecast period include integration of telematics and iot, electric and hybrid reach stackers, advancements in operator comfort and safety, automation and remote control systems, customization and versatility..
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Segmentation & Regional Insights
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/ Terminal, Yards/Landside, Industrial
Asia-Pacific was the largest region in the reach stacker market in 2023. The regions covered in the reach stacker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The commendable rise in seaborne trade across the world is propelling the reach stacker market going forward. The seaborne trade is the transportation of goods by ship across the sea, and the trade balance accounts for the difference in the volumes of loaded and discharged goods, which are inextricably linked to the transit policies, enterprises, and facilities of other countries. Reach stacker vehicles are used in sea terminals or ports to transport intermodal cargo containers, and seaborne trade. The use of reach stackers continues to grow, benefiting consumers around the world through lower freight costs, increasing efficiency of shipping as a mode of transportation, and increased economic liberalization. For instance, In October 2022, according to the United Nations Conference on Trade and Development (UNCTAD) Handbook of Statistics, a Switzerland-based intergovernmental organization, the global seaborne trade increased by 3.2% in 2021, and developing economies accounted for the largest share in terms of seaborne trade, with 55% of goods loaded and 6% of goods discharged of the world total in 2021. Therefore, the rise in seaborne trade across the world is driving the reach stacker market.
Key Industry Players
Major companies operating in the reach stacker market are focusing on innovative products such as reach stacker to drive revenues in their market. A reach stacker is a specialized industrial vehicle used for handling and transporting intermodal containers within shipping yards, ports, and logistics facilities. For instance, in March 2023, Konecranes Plc, a Finland-based company that specializes in the manufacturing of lifting equipment and services launched reach stacker. Liftace reach stackers are engineered to be compatible with contemporary drive technology and control systems. They are appropriate for usage in port, railroad, intermodal terminals, container stackyards, and other logistical locations because of their high loading capacity and high operating speeds. The reach stackers are made to withstand the rigors of expert freight handling and come with a lifting range of 10 to 46 tons. These reach stackers are renowned for their excellent quality, sturdy construction, and dependability.
The reach stacker market report table of contents includes:
1. Executive Summary
2. Reach Stacker Market Characteristics
3. Reach Stacker Market Trends And Strategies
4. Reach Stacker Market – Macro Economic Scenario
5. Global Reach Stacker Market Size and Growth
…..
31. Global Reach Stacker Market Competitive Benchmarking
32. Global Reach Stacker Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Reach Stacker Market
34. Reach Stacker Market Future Outlook and Potential Analysis
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