Stacker Truck Market size is projected to surpass USD 7 Billion by the end of 2035, growing at a CAGR of 9% during the forecast period , i.e., 2023-2035. In the year 2022, the industry size of stacker truck was over USD 3 Billion. The growth of the market can be attributed to the increasing adoption of e-commerce. The demand for efficient and effective material handling operations in warehouses and distribution centers has expanded as a result of the quick development of e-commerce and online retail. For instance, in order to meet the growing need for quick and effective order fulfillment, firms frequently use stacker trucks for duties such as stacking, lifting, and transferring goods within warehouses. By 2025, global retail e-commerce is expected to rise by more than 70%.
In addition to these, factors that are believed to fuel the market growth of stacker truck include the rise in technological advancements. The need for stacker trucks has also been fueled by the growing technological developments in material handling operations. For instance, modern stacker truck models offer greater productivity, accuracy, and safety in material handling activities, making them appealing solutions for companies wishing to update their warehouses.
In addition to these, factors that are believed to fuel the market growth of stacker truck include the rise in technological advancements. The need for stacker trucks has also been fueled by the growing technical developments in material handling operations. For instance, modern stacker truck models offer greater productivity, accuracy, and safety in material handling activities, making them appealing solutions for companies wishing to update their warehouses.
Growth Drivers
Growing Labor Shortages – On account of the lack of availability of manual labor in some regions has led businesses to seek more efficient and cost-effective material handling solutions, such as stacker trucks as they can help in reducing reliance on manual labor, which as a result the market is estimated to drive market growth. According to statistics, by 2030, there will be a global labor shortfall of more than 80 million people.
Rising Need for Workplace Safety – The growing demand for workplace safety has led to an increase in demand for stacker trucks. For instance, to increase operator safety, decrease accidents, and adhere to safety requirements, stacker trucks are built with safety features such as stability controls, and operator protection systems. Every year, over 2 million men and women worldwide perish from work-related illnesses or accidents globally.
Increasing Demand for Automation – It is expected that the growing adoption of automation in material handling operations has also driven the demand for stacker trucks. According to the most recent data, global productivity will increase by over 1% a year as a result of automation.
Growing Construction Industry – It is expected that the increasing construction sector across the globe has led to an increase in demand for stacker trucks, which is anticipated to drive market growth. For instance, heavy items such as bricks, concrete blocks, steel beams, lumber, and other building supplies are lifted and moved using stacker trucks. By 2025, it is anticipated that India's construction market would be worth more than USD 1 trillion.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~9% |
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Base Year Market Size (2022) |
~ USD 3 Billion |
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Forecast Year Market Size (2035) |
~ USD 7 Billion |
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Regional Scope |
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End-user (Retail & Wholesale, Warehouse, Logistics, Automotive)
The global stacker truck market is segmented and analyzed for demand and supply by end-user into retail & wholesale, warehouse, logistics, automotive, and others. Out of the five end-users of stacker truck, the warehouse segment is estimated to gain the largest market share in the year 2035. The growth of the segment can be attributed to the increasing demand for warehouses across the globe. The requirement for effective material handling solutions is expected to increase as warehouse space becomes more in demand to manage rising inventory levels. As more warehouses are built or expanded to meet the growing demand for storage, the demand for stacker trucks is projected to grow, as they are versatile pieces of machinery capable of transporting and arranging goods in a warehouse setting. Furthermore, as businesses expand their operations and require larger warehouse footprints to accommodate their inventory, demand for stacker trucks may rise to handle the increased volume of goods kept and delivered inside warehouses. According to projections, the global demand for warehousing would reach over USD 325 billion in 2024.
Technology (Hydraulic Lift, Winch)
The global stacker truck market is also segmented and analyzed for demand and supply by technology into the hydraulic lift, and winch. Amongst these two segments, the hydraulic lift segment is expected to garner a significant share in the year 2035. In order to lift and move palletized items in warehouses and other industrial settings, stacker trucks, a form of material handling equipment, primarily utilize hydraulic lifts. For instance, stacker trucks can raise and lower the load using a hydraulic lift, which facilitates the effective vertical movement of goods. Besides this, hydraulic systems power the lifting mechanism of stacker trucks. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global market includes the following segments:
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By Technology |
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By Power Source |
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By End User |
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By Distribution Channel |
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North American Market Forecast
The market share of stacker truck in North America, amongst the market in all the other regions, is projected to hold the largest share by the end of 2035. The growth of the market can be attributed majorly to the increasing number of warehouses. The need for stacker trucks is projected to rise along with the warehouse automation in the region. For instance, larger warehouses would require more materials to be moved, stacked, and transported inside the warehouses. To support the increasing material handling requirements, an increase in the number of warehouses is anticipated to lead to a higher demand for stacker trucks since they are a necessary piece of equipment for these operations. Further, the adoption of cutting-edge technology owing to a workforce shortage in the area, along with, increasing advancements in stacker truck technology is also anticipated to contribute to the market growth in the region. As of 2023, there are more than 4,200,400 transportation and warehousing enterprises in the US.
APAC Market Statistics
The Asian Pacific stacker truck market is estimated to be the second largest, registering a share by the end of 2035. The growth of the market can be attributed majorly to the increasing popularity of e-commerce in developing countries, such as India, China, Japan, and others. Storage and warehouse facilities are becoming more and more necessary as e-commerce is expanding in the region. For instance, for moving and arranging goods in a warehouse, stacker trucks are a must. The need for stacker trucks is projected to rise along with the demand for warehouse space to accommodate e-commerce inventory. Also, stacker trucks offer effective and versatile material handling solutions, enabling facilities to quickly satisfy the rising demand for order fulfillment. Further, the rapid urbanization in the region, along with the development of the retail industry, are also anticipated to contribute to the market growth in the region.
Europe Market Forecast
Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing concerns regarding safety. The demand for stacker trucks, may rise in response to growing worker safety concerns in the region. For instance, in order to protect the safety of the operators while working the equipment, stacker trucks are becoming more popular as they are equipped with safety features including operator safety cages, safety sensors, and better visibility features. Further, the surge in the number of warehouses in the region, along with the growing construction industry, is also anticipated to contribute to the market growth in the region.
Crown Equipment Corporation introduced IC and Electric Counterbalance Forklifts capable of carrying up to 5.5 tons to provide access to a full suite of products that facilitate efficient processes and provide the strength and performance necessary for demanding applications. Further, they can handle a wide range of material handling jobs in both indoor and outdoor settings.
UniCarriers Americas Corporation launched two new, larger-capacity model upgrades to the BX Electric Counterbalanced Forklift Series. Additionally, the previously efficient BX Cushion series can now operate for even longer intervals and is suitable for a variety of heavy-duty applications.
Author Credits: Abhishek Verma, Hetal Singh
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