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The growing international seaborne trade activities and rising government expenditure on port infrastructure to promote safe & efficient commercial activities will support the demand for reach stacker over the forecast period. For instance, in May 2022, the U.S. Department of Transportation of Maritime Administration announced to fund USD 684.3 million for Port Infrastructure Development Program. The grants will be awarded on a competitive basis to improve reliability, safety, efficiency, of the movement of goods within, into, out of, or around the port.
A reach stacker is a vehicle used for handling intermodal cargo containers in ports or terminals. They are used to transport containers efficiently & quickly in short distances and pile them in numerous rows depending on their access. Manufacturers are investing in electric and hybrid reach stackers to increase the load-carrying capacity, boost productivity, efficiency, and reduce their carbon footprint. For instance, in September 2022, Reliance Transport all-electric reach stacker, as a part of its sustainability program and to be achieve carbon zero by 2030. Market players are also incorporating new technologies such as 3D cameras, sensors, GPS, IoT, remote monitoring system, and others to improve the functionalities of reach stacker.
The expansion of the e-commerce segment is surging the demand for reach stackers. The major boom in online shopping during the COVID-19 pandemic has created demand for warehousing applications globally. To ensure fast and efficient operations, reach stackers are being increasingly adopted at warehouses. Moreover, rise in number of containers at ports due to uptick in global trade will propel the demand for material and container handling equipment, thereby driving the reach stacker market growth over the forecast timeframe.
The COVID-19 pandemic moderately impacted the reach stack market growth The shutdown of manufacturing plants, movement restrictions, shortage of workforce, and slowdown of trade activities impacted the demand for reach stacker during the initial period of pandemic. However, the e-commerce sector witnessed a significant growth during the pandemic due to rise in online orders, resulting in demand for reach stacker at warehouses and ports. The market is anticipated to witness growth in the coming years, owing to rise in government expenditure on existing & new port infrastructure development to accommodate containers and seaborne trade activities.
The report will cover the following key insights:
Reach stackers with load capacity 30 – 50 ton held the largest market share in 2021. They are primarily used in small or mid-sized ports and intermodal terminals to lift, transfer, and stack various containers. Moreover, new launch of reach stacker with load lifting capacity of 30 – 50 ton is driving the segment growth. For instance, in February 2022, Kalmar launched high capacity electric reach stacker of 45 – 34 tons, stacking up to six high and four row deeps with enhanced durability and performance. All models feature Bosch Rexroth drivelines and are powered by lithium-ion batteries.
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Asia Pacific is expected to have a significant global reach stacker market share due to rise in seaborne trade activities and growth in the shipping industry. Rise in government spending on the shipbuilding industry is driving the segment growth. For instance, the Indian government in the Union Budget 202022-23 allocated USD 223.31 million to strengthen the shipping industry and operate ports efficiently. Moreover, growth in cargo traffic in India, Japan, and China will further support the demand for reach stacker in the region.
By Ton Capacity
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