Reach Stacker Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Reach Stacker Market is projected to grow with a CAGR of more than 5 % during the forecast period.

Key Highlights

• Owing to the increasing trade activities between economies and government spending on building new ports and increasing the capacity of existing ports to increase the volume handling capacity of the ports, reach stacker market is expected to witness prominent demand during the forecast period.
• Because of the increasing trade tensions between two major economies of the world China and the United States, the global maritime trade is witnessing a slowdown in trade volumes globally, which is affecting the ports as they are not being utilized to their maximum outputs. These trade tensions are expected to ease up soon as both the countries are working on finding solution for the problem and increase trade as this is hurting both the economies badly.
• With the growing pollution levels and strict government norms for improving the air quality, many port operators are opting for hybrid port equipment which are following the pollution levels at the same time increases the operational efficiency. Also, the technological advancement has enabled port operators to use autonomous vehicles and internet of things for ensuring the safety of crew. For instance, in March 2019, Hyster developed fuel cell electric reach stacker for the port of Valencia in Spain.

Key Market Trends

Government Initiatives Driving Growth

With the increase in trade activities between the nations, the capacity of the existing ports as well as demand for new ports development remains the major concerned point for the governments globally. To match the demand, the governments are planning accordingly and spending funds for development of existing ports as well as new ports under various initiatives. For instance,

• The government of India has launched project Unnati, under which, the global benchmarks were adopted to improve the efficiency and productivity key performance indicators for 12 major ports. Around 116 initiatives were identified across 12 major ports to unlock more than 100 MTPA capacity just through efficiency improvement. Out of which, 93 initiatives have been implemented to unlock more than 80 MTPA capacity. To fill the demand gap, 2 new major ports are planned which will bring in significant capacity expansion. Greenfield ports are proposed to be developed at Vadhavan (Maharashtra) and Paradip Outer Harbour (Odhisha).
• In November 2019, the Polish Government made an announcement for expansion program for port of Gdansk which is Europe’s fastest-growing port, and aims to double cargo volumes through Gdansk, from about 50m tonnes to 100m tonnes. With an investment of EUR 2.8 billion which will include the construction of 19 km of new quays, 8.5 km of breakwaters, the building of nine terminals and the creation of four turning areas and three approach fairways.

Asia-Pacific Remains the Largest Market

Despite the ongoing trade war between two major economies of the world, United States and China, the trade exports to other parts of the world witnessed high demand and kept the ports in the region busy. During the forecast period it is expected that the trade tensions between these two countries will ease and trade will be back to normal which will accelerate the export volumes from the region. The region accounts for around 40% of the total trade by volume globally. The governments in the region are spending aggressively with a future outlook to develop ports with high capacity at the same time keeping the environment clean.

• In India, which is also a fast-developing nation, more than 90% of trade by volume is conducted via the country’s maritime route, there is a continuous need to develop India's ports and trade related infrastructure to accelerate growth in the manufacturing industry and to assist the 'Make in India' initiative.
• Chinese authorities are also accelerating their pace of developing world-class ports. With a very competitive aim to achieve breakthroughs in green, smart and safe development of major ports, with enhanced scale at regional and other ports by the year 2025. By 2035, major ports should advance to world-class levels and by 2050, several world-class port clusters should be formed, with leading development levels.

The major players in the region are developing innovative, efficient and clean fuel equipment for the ports in the region to reduce the carbon footprints at the same time increasing the output efficiency.

For instance, in January 2019, Intermodal Link Services, an industry leader in rail transport and container storage and is located close to Fremantle Port near Perth Australia, placed a new order for six Konecranes reach stackers. This included five flow drive reach stackers and one empty container handler with a double stacking spreader. Flow Drive is a Konecranes ECOLIFTING Solutions available for lift trucks. It includes an innovative Hydromechanical Variable Transmission (HVT), which reduces carbon emissions and fuel consumption by up to 25%. At the same time, it boosts productivity by increasing the time spent on active operations all with a minimal financial investment

Competitive Landscape

The Reach Stacker Market is fragmented, with many players accounting for a small market share. Some of the prominent companies in the Reach Stacker Market are CVS Ferrari, Kalmar, Konecranes, Liebherr and others. The major players in the country are entering into strategic partnership with global leaders to gain considerable market share. For instance,

• in March 2019, SANY announced new reach stacker series H9, which can save approximately 15 % in machine-related costs per container handled compared to the company’s previous model, the reach stacker is available in three different load capacity versions - 15/31/45 ton.
• In March 2020, Konecranes has received largest ever reach stacker contract from Germany. The order for 39 reach stackers was won with Konecranes’ distributor Richter Fordertechnik GmbH & Co. KG. and the deliveries are scheduled to begin in Q3 2020 and run until Q1 2021 for different handling capacity of 22-ton, 16-ton and 6-ton containers.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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