Stacker Crane Market to Generate US$ 2.4 Billion by 2033 Owing to its increased Usage in Warehouses and Manufacturing Plants Globally | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
7 min read
Future Market Insights Global and Consulting Pvt. Ltd.
The United States stacker crane market is projected to attain US$ 850.3 million by 2033. The automatic stacker crane segment is expected to hold a dominant share throughout the forecast period as they are fast improving their ability to operate without human interventions. Asia Pacific is expected to hold the largest market share by 2033
DUBAI, United Arab Emirates, March 29, 2023 (GLOBE NEWSWIRE) -- 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.
The growth of the global market can be attributed to the rapid expansion of end-use verticals and the accelerating need for advanced bulk material handling systems. Moreover, the integration of remote user connectivity and interface in stacker cranes is further predicted to encourage their adoption during the forecast period. Furthermore, leading players in the market are focused on expanding their stacker crane production capacity and sales, by launching new manufacturing units across attractive markets.
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.
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.
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.
Explore FMI’s Extensive Coverage on Industrial Automation Domain:
Rockbreakers Market Review : The global rockbreakers market is valued at US$ 28,118.8 million in 2023 and is projected to register significant growth at a CAGR of 6.1% to reach a market valuation of US$ 50,833.6 million by the end of 2033.
Solar Shading Systems Market Forecast : Global solar shading system market is projected to record a steady 3% CAGR through 2032. The solar shading system market is valued at US$ 3.9 Billion in 2022 and is expected to reach US$ 5.72 Billion by the 2032
Aircraft Sequencing System Market Keytrends : As indicated by the latest released intelligence study of Future Market Insights, the global market for aircraft sequencing system will expand at 11.5% CAGR over 2018 to 2027, prominently driven by rapid growth in the number of air passengers and constantly improving air trade scenario.
Water Treatment Market Overview : Demand for potable water is experiencing exponential rise annually, with growing global population and pollution levels. Water bodies that have been the conventional sources of drinking water for individuals are also getting affected by alarming rates of ecological burden.
Expansion Valves Market Share: Sales in the expansion valves market are projected to total US$ 17.4 Billion in 2023 from US$ 11.5 Billion in 2023. Increasing demand for advanced air conditioning systems for installation in diverse sectors will drive growth in the market by 4.2% CAGR between 2023 and 2033.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries
