Global Stacker Truck Market Predicted to Grow at a Significant CAGR during 2022-2031; Rising Investment in Truck Infrastructure and Increased Number of Warehouses to Elevate Growth - Research Nester
Key Companies Covered in the Global Stacker Truck Market Research Report by Research Nester are Lifting Equipment Store Inc., Toyota Industries Corporation, Crown Equipment Corporation, Mitsubishi Nichiyu Co., Ltd., UniCarriers Americas Corporation, Anhui Heli Co., Ltd., Clark Material Handling Company, Hangcha Group Co., Ltd., JBT Corporation, Komatsu Ltd., and other key market players.
New York, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Stacker Truck Market’ for the forecast period, i.e. 2022 – 2031 which includes the following factors:
Market growth over the forecast period
Detailed regional synopsis
Key market players and their detailed profiling
Global Stacker Truck Market Size:
The global stacker truck market is estimated to grow at a notable CAGR over the forecast period, 2022-2031. Rise in number of warehouses and manufacturing units is likely to propel the market growth. During the course of pandemic, the operation of warehouse facilities has increased as demand of goods and services from E-commerce platforms has risen sharply. Between 2020 and 2022, E- commerce sales were boosted by approximately 59%.
Furthermore, the idea of 3PL (third-party logistics) is opening windows for more warehouses. 3PL sector obtained the highest space in warehousing. On the account of increased Foreign Direct Investments and mellow reforms in policy, manufacture and agriculture sectors’ demand for 3PL is expected to incessantly increase. In 2021, demand of warehouses by 3PL logistics sector was increased by around 35% and by e-commerce it was nearly 30% in India.
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Global Stacker Truck Market: Key Takeaways
North America region gains the largest portion of the revenue
Hydraulic lifts segment to dominate the revenue graph
Online segment remains prominent in the distribution segment
Investment Influx in EV Truck Sector to Augment the Stacker Truck Market Growth
Road shipment is a primary source of road emissions, in Europe, trucks hold over 3% share of total road vehicles. Trucks are responsible for the major portion of carbon emission, despite of stringent rules for lower emission, trucks cannot be held behind as they are crucial part of logistics. According to American Trucking Association, nearly 12 billion tons of domestic goods is moved by truck. Therefore, to balance the need of trucks for freight and need for curbing the carbon emissions, companies are investing in E-trucks and migrating towards the greener transportation. According to World Economic Forum, in Europe approximately 210,000 battery powered heavy duty vehicles is expected to set off by 2030.
Global Stacker Truck Market: Regional Overview
The global stacker truck market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
For more information in the analysis of this report, visit: https://www.researchnester.com/reports/stacker-truck-market/4071
Increased E-commerce is Expected to Elevate the Market Growth in North America
Number of warehouses has been increasing by a significant rate every year and the total count reached to around 19000 in 2020. The primary factor for the driven number of warehouses is the overall improvement in manufacturing unit and surge in online retail. Out of total retail in United States, online e-commerce held a share of approximately 14% in the first quarter of 2022. Apart from increased E-commerce, lack of labor in the warehouses is anticipated to fuel the market trends. Most of the work of labors is substituted by machines and vehicles. Around 75% of operator of warehouse is unable to find enough labors to suffice the needs of warehouse. Owing to all these driving elements, North America is projected to show the highest growth in the global stacker truck market.
Asia-Pacific Region to See Notable Growth Owing to Rising Number of Warehouses
Presence of unorganized sector is the prime element for the growth in number of warehouses. According to recent statistics, India’s warehouse segment is highly divided and around 95% of warehoused segment is governed by unorganized players. China has over 1800 warehouses overseas for providing adequate services to their customers
In India, the count of manufacturing units and warehouses has also boosted on account of “Make in India” Vocal for Local”, “Atmanirbhar Bharat” programs. In addition, as per the Ministry of Transport and Highways, project named Bharatmala is proposed to set up 35 multimodal logistics park all over the country, under the public-private-partnership.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
North America (U.S., Canada)
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Stacker Truck Market, Segmentation by Technology
Market is mostly driven by low cost of hydraulic lifts, increased proclivity for low and mid-rise buildings. It has much lower maintenance cost than traction elevators. In addition, the evolution of hydraulic linear actuator (HILA) system is one of the crucial reasons for the growing adoption of hydraulic lifts. They work much more efficiently while carrying heavy loads. Their best speed is between 140-150 feet per minute (fpm) which makes it best for low or medium rise buildings. Owing to all the factors hydraulic lift is projected to garner the highest share in the market revenue.
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Global Stacker Truck Market, Segmentation by Distribution Channel
The online distribution channel is to garner modest growth. After the onset of Covid-19, online shopping rapidly grew, it became more of a habit among people, since then it is growing at a significant rate. The engagement of user in E-commerce is expected to reach from around 55% in 2022 to approximately 63% by 2025. The share of consumers who purchased at least one product or service online grew to nearly 75% in the United States, around 80% of population in the United Kingdom and about 70% in China. Furthermore, digital transformation increased the online retail during pandemic, for instance, by August 2020, in one year online retail sale of China rose to nearly 25% from 20%.
Global Stacker Truck Market is also classified based on end-user and power source
Global Stacker Truck Market, Segmentation by End User
Retail & Wholesale
Global Stacker Truck Market, Segmentation by Power Source
IC engine powered
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Few of the well-known market leaders in the global ear and nasal packing market that are profiled by Research Nester are, Lifting Equipment Store Inc., Toyota Industries Corporation, Crown Equipment Corporation, Mitsubishi Nichiyu Co., Ltd., UniCarriers Americas Corporation, Anhui Heli Co., Ltd., Clark Material Handling Company, Hangcha Group Co., Ltd., JBT Corporation, Komatsu Ltd. and other key market players.
Recent Developments in the Global Stacker Truck Market
In November 2021, JBT announced the acquisition of Urtasun Tecnología Alimentaria S.L., a provider of vegetables and fruits processing solutions. The price to be paid for the acquisition is approximately $40 million. The motive of acquisition is to leverage the JBT’s global sales, by expanding their fruits and vegetable accessibility in the market of fresh packaged and frozen foods.
In June 2021, Anhui Heli Co., Ltd., delivered hundreds of lithium-ion battery to South East Asian market, these batteries are used to power forklift and stacker truck. Lithium ion batteries provide by Heli have advantages of low noise, almost no maintenance, much higher efficiency and environmental protection and moreover lithium ion battery remain unaffected in case of no charging or less charging state.
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