The Asia Pacific Stacker Crane Market would witness market growth of 7.5% CAGR during the forecast period (2021-2027).
Stackers are more accessible in closed and compact spaces, may be easily relocated from one location to another, are less expensive to operate, and are simple to maintain. Moreover, the demand for safe and effective material handling equipment across a variety of cross-industry verticals has boosted the adoption of stacker cranes in recent years.
The constant rise in the number of infrastructure projects around the world would drive the growth of the market. Globally, rapid population and economic expansion have resulted in an increase in infrastructure investments, particularly in emerging economies. As a result, the industry is expected to witness bright growth prospects due to an increase in the number of residential complexes, road building, and infrastructure development, particularly in rising economies. Moreover, the evolution of stackers will be driven by the need to improve and simplify warehousing and logistics operations in order to meet consumer demand in a continuously changing corporate environment.
The region is characterized by the growing number of government initiatives. For example, the Indian government created Project Unnati, in which worldwide benchmarks were used to increase efficiency and productivity key performance metrics for 12 major ports. Around 116 initiatives were identified across 12 major ports with the potential to liberate more than 100 MTPA capacities simply by improving efficiency. More than 80 MTPA capacities have been unlocked as a result of 93 projects. Two additional major ports are planned to bridge the demand gap, bringing significant capacity expansion. At Vadhavan (Maharashtra) and Paradip Outer Harbour, Greenfield ports are being proposed (Odhisha).
The China market dominated the Asia Pacific Stacker Crane Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $137.5 million by 2027. The Japan market is poised to grow at a CAGR of 6.8% during (2021 - 2027). Additionally, The India market would witness a CAGR of 8.2% during (2021 - 2027).
Based on Type, the market is segmented into Single Column and Double Column. Based on Operation, the market is segmented into Semi-Automatic and Automatic. Based on Industry, the market is segmented into Consumer Goods, E-commerce/Retail & Wholesale, Pharmaceutical, Automotive and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Stacker Crane Market is Projected to reach USD 1.3 Billion by 2027, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toyota Industries Corporation, SSI Schaefer Group, Daifuku Co., Limited, Kion Group, Knapp AG, Kuka AG, Hyster-Yale Materials Handling, Inc., Jungheinrich AG, Mitsubishi Logisnext Co., Ltd., and Murata Machinery Ltd.
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