The advancements in the technology and substantial enhancements in the application of numerous engineering concepts will serve as a prominent growth contributor for the reach stacker market. Furthermore, it offers the advantage of working in narrow aisles and reaches a height of up to 14 meters, eventually increasing the growth rate of the reach stacker market.
Factors such as rise in seaborne trade, increasing trade, and the expanding demand for data-driven logistics are anticipated to bring considerable growth for the reach stacker market. Manufacturers in the reach stacker market are boosting the stacking and storage capacity of reach stackers. Thus, these factors will boost the growth prospects of the reach stacker market to a great extent.
A reach stacker is a vehicle used across small terminals or medium-sized ports for handling intermodal cargo containers. They can easily transport containers at short distances and pile them accordingly depending on its access in different rows. Container handling has become an important aspect in the logistics industry. Furthermore, the potential of the reach stackers is far greater as compared to forklift trucks. They have more storage capacity and flexibility as compared to fork trucks. Hence, all these factors bode well for the growth of the reach stacker market.
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The overwhelming utilization of reach stackers at seaports, yards, and industrial sectors will invite tremendous growth. Furthermore, the availability of different types of reach stackers according to the capacity of the weight they can handle will have a profound impact on the reach stacker market. On the basis of capacity, the reach stacker market can be segmented into below 30 ton, 30-45 ton, and above 45 ton.
Transparency Market Research (TMR) has a rich experience in conducting research across various domains. The research reports from TMR provide the required insights about the reach stacker market to the stakeholders and CXOs. Numerous aspects such as demographic landscape, key trends, competitive insights, threats, etc. are included in the report systematically. The impact of the COVID-19 outbreak on the reach stacker market has also been included in the report. All these benefits make TMR one of the best research report companies among others.
Expanding Demand for Warehouse Applications to Invite Value-Grab Opportunities
The growing popularity of e-commerce has led to an increase in the warehouses around various regions. The pandemic has further boosted the popularity of online shopping. Based on these factors, the demand for warehousing applications has increased immensely. Reach stackers are being adopted extensively in the warehouses for assuring good efficiency, productivity, and workflow. In addition, these vehicles provide practical solutions for applications required for reaching and stacking of materials within the warehouse.
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Rapid Advances in Logistics Industry to Bring Profitable Growth
Emerging technologies and the advancements in the logistics industry are bringing profitable growth for the reach stacker market. Furthermore, the incorporation of GPS and automated material handling equipment and biometrics is expected to bring considerable growth opportunities. Connected technologies like the Internet-of-Things (IoT) will advance the reach stacker market toward growth.
Rise in the number of containers at ports and an increase in the number of global businesses requiring container handling equipment are prognosticated to drive the growth of the reach stacker market.
The COVID-19 pandemic has affected the growth of the reach stacker market to a great extent. The lockdown restrictions and the shutdown of manufacturing facilities for a brief period have brought great losses. The production and demand for the reach stackers were negatively impacted. However, the relaxations in lockdown restrictions and an increase in the vaccination drives around various regions raise hopes for a stable growth period for the reach stacker market in the coming years.