The Stacker Crane Market size is projected to reach USD 1,442 million by 2027 from an estimated USD 976 million in 2021, at a CAGR of 6.7% from 2021 to 2027.
The market is expected to witness growth due to increased demand for automated storage and retrieval systems (ASRS), rising popularity of automated material handling equipment and warehouses, industrial growth in emerging economies, and increasing demand for third-party logistic services.
Opportunity: Industrial growth in emerging economies
Globalization has resulted in the industrial growth of emerging economies like India, Brazil, Mexico, and China. This has attracted global manufacturers to locate their manufacturing units in these countries. Various industries such as food & beverages, pharmaceuticals, retail, and automotive are focusing on expansion in emerging economies due to various economic advantages.
The rising demand for products of these industries is straining their distribution and logistics network. Thus the demand for automated warehouses is increasing across these industries, which are leading to the increased demand for stacker cranes. Hence, increasing industrial growth would increase the adoption of efficient and automated manufacturing and distribution processes. This has created a requirement for advanced and sophisticated warehousing facilities to integrate and manage supply chains. The surge in investments toward enhancing the capability of supply chains in emerging economies has opened new growth opportunities for stacker crane or ASRS providers.
The stacker crane market is dominated by major players such as Daifuku co. Ltd (Japan), Murata machinery ltd. (Japan), Kion Group AG(Germany), Swisslog AG (Switzerland) , MIAS Material Handling Co., Ltd (Germany), Godrej Koerber (India), ElectroMech(India), Jungerheinch AG (Germany) and, Doosan Corporation (Japan).
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Consumer Goods segment to hold the largest market share during the forecast period
The adaptation of stacker cranes has been rising in consumer goods end-use industries as stacker cranes are usually used for storing finished and semi-finished goods. Furthermore, raw material handling and efficient buffer storage are driving the stacker crane market for consumer goods. Whereas increased adaptation of advanced manufacturing techniques and processes has improved the throughput of consumer goods manufacturing factories. Hence, the need for efficient material handling solutions such as stacker cranes is also growing in the consumer goods industry.
The automatic stacker crane is expected to be the fastest-growing segment from 2021 to 2027.
Automatic stacker cranes are pre-programmed with the help of an algorithm to perform the detection of goods through sensors. They can store or retrieve goods with fewer commands than semi-automatic stacker cranes and do not require an operator to guide them. The automatic stacker crane is energy efficient system which can perform storing and retrieving in a single cycle.
Asia-Pacific is estimated to lead the stacker crane market in 2021.
Currently, Asia-pacific contributes a share of approximately 52% to the overall market. It is the largest market since high population growth and economic development with increasing domestic consumption have intensified the need for efficient logistics and warehousing. China and, India have a strong export-oriented manufacturing industry and growing consumerism, which require them to consider automation to improve efficiency. Japan was the early adopter of stacker cranes, it also hosts a number of global stacker crane manufacturers. The stacker cranes market in Japan is driven by a shortage of labour and space. South Korea has a growing electronics and e-commerce industry, which has been investing in automated material handling systems. Furthermore, the consumer goods industry is a leading consumer of stacker cranes in the country. The region is expected to hold a dominant share in the market for the forecast period.
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Europe is projected to be the second largest market by 2027
Europe was the early adopter of the stacker crane integrated warehouse automation systems. The market is growing due to the factors such as rigorous worker safety codes, high wages, and rising prices of real estate. Brexit has increased the need for a localized distribution centre. For instance, the availability of warehouses post Brexit has been all-time low of 15% and 2% in some places. The need for swift order fulfilment has also increased due to increased e-commerce sales which are driving the stacker crane market in the region.
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Additionally, type wise and application wise consumption figures are also given.Contact UsMark IrwinSales ManagerEmail id : [email protected]: +1 202 888 3519Web : https://www.indexmarketsresearch.com/
