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 during the forecast period. The growth of this market is influenced by increasing demand of automated storage and retrieval systems as well as increasing demand for automated warehouses and automated material handling equipment’s. Therefore, the stacker crane market is expected to witness significant growth in the future.
Increased demand for automated storage and retrieval systems (ASRS)
Stacker cranes are an important component of ASRS.ASRS eliminates the need for human intervention in basic operations, such as precise storage of an item at a predefined location, retrieval of an item, and transferring goods to specific processing or interface points. Thus, ASRS implementation reduces costs incurred on laborers and improves space utilization. The growing warehouse rents and reducing availability of warehouses are expected to drive the adaptation of ASRS systems.
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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.
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 host a number of global stacker crane manufacturers. The stacker cranes market in Japan is driven by a shortage of labor 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
Key Market Players & Start-ups
The stacker crane market is dominated by players such as Daifuku Co. Ltd (Japan), Kion Group AG (Germany), Murata Machinery Ltd (Japan), SSI Schäfer (Germany) and, Swisslog AG (Switzerland). These companies offer turnkey stacker crane automation services and have strong distribution networks at the global level. These companies have adopted extensive expansion strategies; and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the growing market.
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