Electric Stacker Truck Market To Witness Growth At 5% CAGR

June 3, 2016

Electric stacker trucks are mainly used in big industrial amenities for transportation & lifting. They can place or move discrete loads and do independent lifting. Stackers are utilized across various industries such as consumer goods, food & beverages, retail, and e-commerce. Automated stacking machines are efficient for heavy lift production; like aerospace, automotives, and construction.

The worldwide electric stacker truck market is expected to grow at over 5% CAGR during the forecast period. This can be attributed to the swiftly growing demand from warehouse & e-commerce spaces, with businesses expanding globally. Demand for cost-efficient stackers has risen in emergent economies. The same has resulted from commerce & industrial growth and substitution of current technologies.

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With technological integration, the functionality attained by these trucks is better. Stackers have multiple advantages. These include greater speed, lesser errors, operator convenience, operation efficiency, and lesser accidents & injuries. They augur well for the market and drive its revenues. However, the market also faces challenges.
Some of these challenges are escalating costs of mini trucks and ecological concerns associated with Internal Combustion Engine (ICE) trucks. The electric stacker truck market is categorized as per technologies, products, and regions. Technologies comprise electrically powered trucks and ICE powered trucks. The former is projected to be the major segment, rising significantly in the near future.

This can be credited to its advantages over ICE ones. Electrically powered trucks also find higher applications across developing markets like Brazil, China, and India. Products encompass warehouse and counterbalance. Counterbalance would occupy large shares and expand over the forecast period. In terms of regions, the market is divided by Asia Pacific and Europe.

Asia Pacific leads the global market and holds significant shares. China dominates Asia Pacific, accounting for prominent shares in production. With demand for mechanized vehicles in China, the nation is anticipated to expand at a significant CAGR. Asia Pacific is followed by Europe.

Eminent companies with the global electric stacker truck market are Mitsubishi Heavy Industries Ltd., Crown Equipment Corporation, Anhui Heli, and KION Group AG. They are concentrating on making advanced & eco-friendly equipment to overcome governmental restraints.

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