Stacker Crane Market Soars to US$ 2.4 Billion by 2033, Fueled by Global Warehouse and Manufacturing Expansion
The global stacker crane market is projected to create an absolute dollar opportunity by exhibiting a CAGR of 7.9% throughout the forecast period from 2023 to 2033. The global market is estimated to reach US$ 1.1 billion in the year 2023 and is likely to surpass a valuation of around US$ 2.4 billion by 2033. According to the historical analysis, the global stacker crane market registered a CAGR of 11.9% in the historical period.
Due to the quick development of end-use verticals and the
growing need for sophisticated bulk material handling systems, the global
market is expected to rise. Additionally, it is anticipated that the
incorporation of remote user connectivity and interface into stacker cranes
would promote their acceptance during the course of the forecast period.
Leading companies in the industry are also concentrating on growing their sales
and production capacity for stacker cranes by opening new manufacturing
facilities in lucrative areas.
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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.
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.
List Encompassing Key Players:
- 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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