Global stacker market is projected to reach $3,136.2 million by 2026, registering a CAGR of 5.3% from 2019 to 2026.
PORTLAND, OREGON , UNITED STATES, December 31, 2020 /EINPresswire.com/ — Global stacker market was valued at $2,033.1 million in 2018, and is projected to reach $3,136.2 million by 2026, registering a CAGR of 5.3% from 2019 to 2026.
In 2018, based on type, the electric segment accrued the largest share in the stacker market. Expansion of the construction and logistics industry throughout the globe, especially in emerging nations such as China and India drives the stacker market growth. Moreover, stacker is suited for heavy tasks, owing to their features such as high load capacity, versatility, and flexibility. Thus, such advantageous features are expected to fuel the demand for stacker market in the coming years.
In 2018, on the basis of end-user, the retail & wholesale segment garnered a significant market share, owing to the expansion of the e-commerce sector in developing regions. In addition, logistics and food & beverages segments is expected to exhibit significant growth during the forecast period. In terms of region, Asia-Pacific and Europe collectively contributed for around 74.8% of the total market share in 2018.
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The key players profiled in the stacker market report include CLARK Material Handling Company, Crown Equipment Corporation, Doosan Corporation, Godrej and Boyce Manufacturing Company Limited, Hangcha Group Co., Ltd, Hyster-Yale Materials Handling, Inc, Jungheinrich AG, KION Group AG, Mitsubishi Logisnext Co., Ltd, and Toyota Industries Corporation. The major players operating in the global stacker market have adopted key strategies such as product development to strengthen their market outreach and sustain the stiff competition in the market. For instance, in May 2017, Hyster Europe, a brand of Hyster-Yale, launched S1.2IL, S1.4IL, and S1.6IL models with initial lifts. The products offer low energy consumption and provide acceleration speed of up to 6km/h. S1.6IL provides a reach height of up to 6 meters. Similarly, in May 2019, U.S. based Crown Equipment Corporation launched new DS 3040 double stacker, which is produced and developed in Germany. It features load capacities of up to 2 tons and lift heights of up to 2.3 meters. It also offers high stability for medium-heavy applications such as shelf replenishment, pallet transport, and lorry unloading.
Key Findings of the Study:
The report provides an extensive analysis of the current and emerging stacker market trends and dynamics.
Depending on type, the electric segment dominated the stacker market, in terms of revenue, in 2018 and is projected to grow at a CAGR 5.5%, during the forecast period.
By end-user, the retail & wholesale segment led the stacker market in 2018.
Asia-Pacific is projected to register the highest growth rate in the coming years.
Key market players within the stacker market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the stacker industry.
The report provides an extensive analysis of market trends and emerging opportunities.
In-depth, the stacker market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
The global stacker market forecast analysis from 2019 to 2026 is included in the report.
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Source: EIN Presswire