LONDON--(BUSINESS WIRE)--The global reach stacker market is expected to grow at a CAGR of around 5% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global reach stacker market for 2017-2021. The market is segmented based on key geography, including the Americas, APAC, and EMEA.
A significant portion of the demand for reach stacker comes from ports in Asian countries due to the large number of new installations in the region. Also, the more developed markets in Europe and North America are investing in the upgrade and maintenance of old installations. Most of the port investments in developed countries are toward improving efficiencies, updating inland port systems, and new automated equipment to meet the stringent environmental and safety regulations.
Technavio’s automotive research analysts categorize the global reach stacker market into the following regions:
- APAC
- EMEA
- Americas
APAC: largest reach stacker market
“The container industry and the expanding port infrastructure in many countries in APAC are fueling the growth of the reach stacker market. For instance, India is planning to spend USD 60 million in developing seven new ports in the country by 2020. Also, port terminal operators are adopting technological advancements in a bid to reduce costs and emissions, and this is propelling growth in the reach stacker market,” says Siddharth Jaiswal, a lead analyst at Technavio for research on automotive manufacturing.
About 50% of the world's largest ports (in terms of container handling) are located in APAC. The region has become an important target market for stakeholders that operate in the container industry. The mining industry in China is one of the key markets for port handling equipment in APAC. Despite the economic slowdown in China, this demand is projected to experience high growth during the forecast period.
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Reach stacker market in EMEA
“In Europe, ten seaports account for around 60% of the total container handling in the region. Rotterdam is Europe’s largest seaport for both container handling and bulk cargo. Other important ports in terms of container handling in Europe are Antwerp, Hamburg, Bremen, and Valencia. Port handling efficiency is one of the major parameters of competition for seaports,” says Siddharth.
In Africa, the progress of container traffic has been affected by the unpredictability of port operations. However, with improved infrastructure, changes in the governance of terminals, and the arrival of world leaders in port management, there has been gradual development. Many port projects have been initiated in the recent past.
Reach stacker market in the Americas
The World Economic Forum ranked the US at number 16 in infrastructure economic competitiveness in 2016; the country spent 1.7% of its GDP on transportation infrastructure. Inadequate infrastructure in connecting ports and landside transportation and waterside shipping lanes creates bottlenecks and results in productivity loss and congestion.
The US is developing its ports as they are a primary reason for the nation's economic recovery and healthy employment numbers, thus helping in sustaining long-term prosperity. The US seaport agencies and their private partners have planned to invest USD 46 billion in the next five years to increase the efficiency of marine operations and other properties of the port, on the back of which the market will see an upsurge by 2021.
The top vendors in the global reach stacker market highlighted in the report are:
- CVS Ferrari
- Kalmar
- Konecranes
- LIEBHERR
- SANY GROUP
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