The global electric stacker market is expected to develop significantly, with a predicted CAGR of 7.4% from 2023 to 2033. This upward trajectory is set to propel the market’s revenue from its current standing at USD 2,103.1 million in 2023 to an anticipated USD 4,307.6 million by 2033.
Several important factors are primarily responsible for this upsurge. One of the main drivers is the increasing demand for efficient and eco-friendly material handling solutions. Electric stackers offer a cleaner alternative to traditional internal combustion engine-powered forklifts.
As sustainability becomes a more prominent concern for businesses and industries, the adoption of electric stackers is on the rise. Another driver is the advancements in battery technology. As battery technology improves, electric stackers are becoming more powerful and efficient.
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The rising e-commerce industry, propelled by growing urbanization, has increased the demand for electric stackers in warehouses and fulfillment facilities. Their role in adeptly storing, retrieving, and packaging items has become paramount.
Concurrently, the industrial landscape is expanding across diverse sectors such as manufacturing, food and beverage, and healthcare. This expansion has led to an increased demand for electric stackers to improve efficiency and expedite materials handling procedures.
Key Takeaways
- In 2022, the electric stacker market witnessed North America emerging as the frontrunner, securing a significant stake of 25.6%. Europe followed closely with a notable share of 23.2%. This commanding foothold can be directly attributed to the robust industries in these regions, which drive the demand for cutting-edge material handling solutions.
- In 2022, key countries such as the United States (17.6%), Germany (8.4%), and Japan (5.6%) held significant portions of the electric stacker market. These countries have established themselves with robust industrial infrastructure and a pronounced focus on automation and technological advancements. As a result, these advanced economies exhibit high electric stacker adoption rates.
- China and India are poised to become significant contenders in the electric stacker industry, given their projected CAGR of 8.4% and 9.2%, respectively, through 2033. This trajectory can be attributed to their rapid industrialization, burgeoning e-commerce sectors, and increasing warehousing operations.
- The electric stacker industry in the United Kingdom is likely to showcase a 6.4% CAGR through 2033. This upward trajectory can be attributed to the surge in the country’s logistics and distribution sector, alongside the escalating need for warehouse automation.
- The global electric stacker market is poised for further expansion, driven by a heightened emphasis on efficiency, safety, and sustainability in material handling operations. This trend is expected to persist in the coming years as the utilization of electric stackers becomes increasingly prevalent.
Competitive Landscape
The electric stacker market is characterized by robust competition driven by various dynamic factors. The market’s rapid expansion is attracting new entrants who are eager to capitalize on the growing demand for efficient material handling solutions. This surge in competition for market prominence is further fueled by the diverse range of product offerings, each tailored to cater to varying customer requirements and specifications.
Notably, key players within the industry consistently invest in research and development endeavors. They aim to maintain a competitive edge by delivering cutting-edge products to their clientele. Finally, the market’s global structure intensifies rivalry even further as businesses from different countries compete to establish themselves in different geographic marketplaces.
The electric stacker market is still highly competitive as a result, encouraging innovation and advances to satisfy changing needs.
Toyota Material Handling Group: One of the top industrial equipment producers worldwide is Toyota, a Japanese multinational enterprise. Electric stackers produced by the firm are renowned for their dependability, robustness, and usability.
Jungheinrich: One of the top manufacturers of material handling machinery worldwide is Jungheinrich, a multinational German company. Electric stackers made by the company are renowned for their cutting-edge features and superior performance.
Hyster-Yale: One of the top producers of material handling equipment in the world is the American multinational firm Hyster-Yale. Electric stackers made by the company are renowned for their extensive feature sets and flexibility in serving a wide range of customers.
Crown Equipment Corporation: One of the top producers of material handling equipment worldwide is Crown Equipment Corporation, an American multinational corporation. Electric stackers manufactured by the firm are renowned for their excellent build quality and high productivity.
Other Market Particpants of Electric Stacker Market
- EP Equipment Co. Ltd.
- CLARK Material Handling Company GmbH
- CROWN Equipment Corporation
- MAINI Materials Movement Pvt. Ltd.
- Linde Material Handling GmbH
- Presto Lifts
- PROLIFT Handling Ltd.
- Godrej Material Handling
- KION Group AG
- Mitsubishi Logisnext Co. Ltd.
- Toyota Industries Corporation
- Doosan Corporation
- Boyce Manufacturing Company Limited
- Hangcha Group Co. Ltd.
- Hyster-Yale Materials Handling Inc.
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Recent Developments
- In January 2023, Kalmar, which is a division of Cargotec, unveiled a series of fresh sustainability choices for its eco-friendly electric reach stacker during the TOC Europe conference held in the Netherlands. These novel options are set to establish the Kalmar electric reach stacker as the top ecologically responsible choice among reach stackers globally.
- In May 2022, Toyota Material Handling Europe revealed its recent innovation, the Traigo24. It is a compact, three-wheel electric forklift truck. This series encompasses models with capacities spanning from one to 1.5 tons, tailored for seamless operations within confined areas. These forklifts are equipped with energy-efficient Lithium-ion technology and feature exceptional ergonomic design to bolster productivity.
Key Segments Profiled in the Electric Stacker Market Survey
By Application:
- Lifting Equipment
- Transporting Loads
- Placing Equipment
- Shifting Equipment
By Load Carrying Capacity:
- 1000 kg
- 1500 kg
- 2000 kg
- 2500 kg
By Lifting Height:
- 90-1600 mm
- 90-2300 mm
- 90-2800 mm
- 90-3300 mm
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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