An absolute dollar opportunity is anticipated to be created by the global stacker crane market, which is anticipated to grow at a CAGR of 7.9% from 2023 to 2033. The value of the global market is predicted to surpass US$ 2.4 billion by 2033 and to reach US$ 1.1 billion in 2023. A CAGR of 11.9% was recorded in the global stacker crane market during the historical period, per the historical analysis.
The rapid development of end-use industries and the rising demand for sophisticated bulk material handling systems are both factors contributing to the expansion of the global market. Additionally, it is anticipated that the incorporation of remote user connectivity and interface in stacker cranes will promote their adoption during the forecast period. Additionally, leading Players in the market are concentrating on increasing their stacker crane sales and production capacity by opening new production facilities in lucrative markets.
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The Stacker crane market has become a crucial material-handling solution, utilized across diverse manufacturing verticals like warehouses or manufacturing plants, for storage and retrieval of materials. Robust expansion of manufacturing industries the world over, along with the surge of logistics 4.0, is boosting the stacker crane industry. The logistics sector and manufacturing industries are utilizing stacker cranes for easy and rapid completion of work.
Compelling Market Trends
The stacker crane industry is anticipated to observe exponential growth during the forecast period due to the rising demand for efficient logistics and warehousing solutions. The propelling advancements in stacker cranes are supported by the incorporation of novel technologies, like the Internet of Things (IoT), which is projected to assist the market growth. In addition to that, a move towards the proliferation of automation and robotics in the supply chain and intralogistics is projected to boost demand for stacker cranes.
Rising technological advancements continue to penetrate industries and stakeholders which are embracing various automation techniques including the deployment of industrial robotics. Furthermore, manufacturing facilities are deploying robots and robotics in every aspect of operations, from hardcore production to assembly. This has not only helped make operations efficient but also streamlined the overall supply chain.
The augmenting application of robotics is highly visible in the logistics industry. Prominent companies are working on investing in automated storage and retrieval systems (ASRS) to automate movements as well as various regions in the facility, due to the growing complexity of warehousing and the necessity for flexible and efficient operations.
Another highly popular automated option that may be used by companies with a lot of items coming in and going out is the automated pallet shuttle. An electric shuttle that moves through the storage channels of this small storage system speeds up pallet loading and unloading.
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Growth Drivers
The supply chain has witnessed significant changes over the past few decades. Owing to the rising advancements in technology and rising initiatives to propel automation, machines have begun replacing human labor. As a result, various types of material handling equipment, like stacker cranes, are being used across manufacturing industries for the storage of goods.
Stacker cranes are popularly known as ideal storage and retrieval systems utilized in warehousing operations for enhancing productivity, reducing manual labor, and minimizing errors. They allow users to execute loading and unloading operations quietly and steadily. Robust expansion of manufacturing industries, such as automotive and consumer goods, due to rapid urbanization, increasing population, and infrastructural development, is expected to boost the growth of the market.
Restraints
Some of the crucial factors limiting the growth of the stacker crane market comprise of the huge cost of installing stacker crane systems and frequent technical errors. Additionally, the unavailability of sufficient infrastructure and space for the use of stacker cranes across emerging economies may also pose a hindrance to market development.
Competitive Landscape
Top stacker crane manufacturers are concentrating on introducing advanced products, such as KBK stacker cranes and automated stacker cranes with better and more advanced features. Furthermore, they have adopted strategies such as partnerships, mergers, agreements, collaborations, etc. to expand their global presence. kion group ag, doosan corporation, ssi schaefer, swisslog holding ag, murata machinery, ltd., hyster-yale materials , handling, inc. jungheinrich ag, mitsubishi logisnext co., ltd.,toyota industries corporation, vanderlande industries b.v.
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Key Developments
In October 2021, Kalmar announced that it is likely to deliver six automatic stacking cranes to Victoria International Container Terminal, situated in Australia.
Valuable Insights into the Stacker Crane Market
The North American region is anticipated to dominate the global stacker crane market over the valuation period. The United States market is projected to attain US$ 850.3 million by 2033. The market is estimated to register a CAGR of 7.7% in the forecast period.
Key Segments
By Operation Type:
- Semi-automatic
- Automatic
By End-use Industry:
- Consumer Goods
- E-commerce/Retail and Wholesale
- Pharmaceutical
- Automotive
- Others
By Application:
- Autostart
- Early Baggage Storage
- Sortation System
- Robotized Order Preparation
By Type:
- Single Column
- Double Column
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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