The latest business intelligence report indicates that the reach stacker market witnessed sales of 1,364 units in 2018, which are estimated to grow further by ~7% in 2019, owing to the strengthening demand for container handling equipment. Increasing traction for port material handling equipment, coupled with rapid expansion of growing number of sea ports, in line with the proliferating sea borne trading continues to augment market growth.
Rapid expansion of intermodal barge shipping to the smaller as well as canalized waterways has been creating a considerable demand for a water reach stacker with tri-modal handling functionality- road, rail and water, finds Study. In the last couple of years, port activity and cargo handling of containerized and bulk has grown significantly, while driving the need for an increased development of improved and safer port infrastructure to suffice the steady pace of seaborne trading.
Gains Remain Concentrated in Sea Ports
Deployment of reach stackers continues to grow significantly across the increasing number of sea ports worldwide, which contributed to the sales of 973 units in 2018, while accounting for 70% of the overall market sales. This can be attributed to the fact that trade through marine ports contribute to ~80% of the international trade volume and ~ 70% of the total trade value. Though the sea port applications of reach stacker continue to accelerate rapidly, demand from yards/landslide is also growing, however at a much slower pace. An increased number of warehousesand factories are also adopting reach stackers, owing to the rapid industrial expansion in several countries, which in turn is highly likely to pace up the lucrativeness of market in the years to come.
Hybrid and Electrical Powered Machinery Growing Lucrative
As per the study, though the demand for internal combustion engine based reach stackers has been growing over the years, and witnessed sales of 1,124 units in 2018, sales of hybrid variants are also likely to pick pace. This falls in line with the growing manufacturer shift towards integrating advanced propulsion system into their reach stacker models. Eco-friendly variants are also anticipated to witness considerable demand in the forthcoming years due to the continuing global tension over the carbon emission from the industrial operations.
Amid the growing emission concerns and high operational costs of conventional reach stackers, several market players have placed their focus on manufacturing customized, hybrid and electric variants. For instance, a leading market player- Konecranes has recently launched a hybrid reach stacker with improved operator performance and maintenance-friendly solutions to boot. Such growing innovation-driven initiatives of market players have been estimated to lead the way to the future of container handling.
Sales of 30-45 Tons Reach Stackers Staggering in Asia Pacific
East and South Asia continue to lead the growth of the reach stacker market, while accounting for ~65% of the overall sales in 2018. This falls in line with the fact that marine routes have been and continue to remain the significant mode of conveyance for goods in the form of containers, dry bulk, liquid bulk and roll onroll off (Ro-Ro) type cargos and passengers in the region. As per the study, countries such as China and India will continue to remain a fairly attractive market for stakeholders, owing to the presence of several key ports. Growing government initiatives focused on pushing the efficiencies and updating inland port systems are highly likely to contribute to a significant growth in the reach stacker market.
As per the study, leading market players in the reach stacker market are increasingly penetrating in these lucrative regions by manufacturing cost-effective variants to appeal a wide pool of cost-sensitive customers. Operational efficiency and low cost of reach stacker with 30 – 45 tons’ capacity as compared to heavier equipment has been driving its demand across cost-sensitive regions-in particular and across worldwide.
The research intelligence presents the long-term outlook of the reach stacker market for 2019 to 2029. The reach stacker market is anticipated to register a volume CAGR of ~8% through 2029.
These insights are based on a report by Fact.MR