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Stacker Truck Market Segmentation by Technology (Hydraulic Lift, and Winch); by Power Source (Electric, Semi-Electric, IC Engine Powered, and Others); by End-User (Retail & Wholesale, Warehouse, Logistics, Automotive, and Others); and by Distribution Channel (Online, and Offline) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • November 02, 2021: JBT Corporation announced the acquisition of Urtasun Tecnología Alimentaria S.L. for approximately USD 40 million. Urtasun Tecnología Alimentaria S.L. is headquartered in Navarra, Spain. 

  • June 28, 2021: Anhui Heli Co. ltd. delivered li-ion battery-powered forklifts and stacker trucks to the Southeast Asian market, following the high environmental protection requirements of their customer.

Global Stacker Truck Market Highlights over 2022 – 2031

The global stacker truck market is estimated to grow at a notable CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing use of stacker trucks amongst other equipment in warehouses and storage units. Stacker trucks have similar function as forklift trucks; however, stacker trucks essentially have wheels along with a platform and lift for loading and unloading goods. Moreover, stacker trucks can provide higher height for the heap, and better access across the facility. Such factors are estimated to encourage the market growth. Furthermore, the growth in manufacturing activities, emergence of new warehousing facilities, and constantly rising demand for consumer goods are anticipated to boost the growth of the market. Along with this, the high investment in infrastructure industry, and growth of e-commerce and online retail are projected to render a positive impact on the market growth. For instance, over two billion people purchased goods or services online in 2020. As a result, online retailers and market platforms are constructing warehouses across the globe to facilitate quick deliveries. This is bound to increase the demand for stacker trucks globally, which is estimated to boost the market growth.

Stacker Truck Market

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The market is segmented by technology into hydraulic lift, and winch, out of which, the hydraulic lift segment is anticipated to hold a substantial share in the global stacker truck market over the forecast period on account of higher adoption of this technology for lifting objects. Moreover, vehicle operators find hydraulic lift easier to operate as hydraulics can be operated with both foot and hand pump, and heavier weight can be carried using this technology. Such factors are estimated to fuel the segment growth.

The market is also segmented on the basis of end-user into retail & wholesale, warehouse, logistics, automotive, and others. Out of these, the warehouse segment is projected to garner the largest revenue share over the forecast period, owing to the increasing establishment of warehouses and storage units, backed by the growing consumer population.

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure (% of GDP), 2015-2018

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Stacker Truck Market Regional Synopsis

On the basis of geographical analysis, the global stacker truck market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing adoption of e-commerce in the developing countries, such as, India, China, Japan, and others. As per the data by the India Brand Equity Foundation (IBEF), India’s e-commerce market reached USD 67-84 billion in 2021, and is further expected to reach USD 350 billion by 2030.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the rapid growth in online retail, establishment of warehouses, and adoption of advanced equipment due to the lack of labor in the region. According to the data by the U.S. Bureau of Labor Statistics, in 2021, 310,840 people were employed as industrial truck operators in warehousing and storage industry

Stacker Truck Market Share

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The global stacker truck market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global stacker truck market includes the following segments:

By Technology

  • Hydraulic Lift
  • Winch

By Power Source

  • Electric
  • Semi-Electric
  • IC Engine Powered
  • Others

By End-User

  • Retail & Wholesale
  • Warehouse
  • Logistics
  • Automotive
  • Others

By Distribution Channel

  • Online
  • Offline

Growth Drivers

  • Growing Demand for Warehouses and Storage Units
  • Increasing Adoption of E-commerce
  • High Penetration of Warehouse Automation

Challenges

  • Availability of Cheap Labor in Low-Income Countries
  • Slow Adoption of Advanced Technology

Top Featured Companies Dominating the Market

  • Lifting Equipment Store Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Toyota Industries Corporation
  • Crown Equipment Corporation
  • Mitsubishi Nichiyu Co., Ltd.
  • UniCarriers Americas Corporation
  • Anhui Heli Co., Ltd.
  • Clark Material Handling Company
  • Hangcha Group Co., Ltd.
  • JBT Corporation
  • Komatsu Ltd.

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