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 2021 to 2027.
The growth of this market is influenced by factors such The market is expected to witness growth due to increased demand for automated storage and retrieval systems (ASRS), the rising popularity of automated material handling equipment and warehouses, industrial growth in emerging economies, and increasing demand for third-party logistic services.
OPPORTUNITY: 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.
The stacker crane market is dominated by major players such as Daifuku co. ltd (Japan), Murata machinery ltd. (Japan), Kion Group AG(Germany), Swisslog AG (Switzerland) , MIAS Material Handling Co., Ltd (Germany), Godrej Koerber (India), ElectroMech(India), Jungerheinch AG (Germany) and, Doosan Corporation (Japan).
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Single column stacker crane segment is boosting the stacker crane market. It s more suitable for lighter load handling in end-use industries such as consumer goods, e-commerce, pharmaceutical, retail and wholesale. For example, more than 90% of the stacker crane market is dominated by single-column stacker cranes.
With the growing popularity and usage of stacker cranes, the automatic stacker crane segment is expected to register the highest growth rate of 6.8% from 2021 to 2027. Automatic stacker cranes are operator-less material handling equipment that operates through preprogrammed instruction given by the warehouse management system. with improvements in technology such as IoT and AI, the warehouse management system can optimize stacker crane actions and reduce error.
Asia Pacific is estimated to be the fastest-growing market due to significant growth in the adoption of ASRS in China and, India. The region is expected to lead the market by 2027. The Asia Pacific stacker crane market is witnessing impressive growth due to the growing localization of global layers and the emergence of local integrators and turnkey solution providers. Companies such as ElectroMech(India), Prime Precisions( India), and Jiangsu Ebil Storage Technology Co. Ltd (China) are swiftly rising to occupy the niche market.
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Recent Developments:
1. In Feb 2021, AFT industries, a manufacturer and seller of material handling systems to automotive manufacturers, concluded a strategic partnership agreement with Daifuku Industries. Both companies will collaborate on a project-by-project basis by leveraging AFT Industries’ European automotive customer base, technologies, and procurement knowledge, and Daifuku’s extensive global network encompassing sales, production, and service to increase the level of offerings to customers in the global automotive industry.
2. In November 2020, Doosan Logistics Solutions signed a strategic deal with Chinese robotic firm Greek+ to sell and provide maintenance services to the autonomous logistics robots in South Korea. Greek+ holds a 16% market share of autonomous mobile robots. The deal is expected to improve its product offerings and hold on to the logistics and automation market.
3. In September 2020, Jungheinrich AG acquired stakes in Munich-based robotics startup Magazino and agreed on broad strategic collaboration and intent to combine skill sets in the field of mobile automation.
4. In August 2019, Murata Machinery, Ltd. and US material handling system supplier Alert Innovation, Inc. announced a joint venture in manufacturing and supplying automated picking solutions in Japan.
5. In April 2019, Daifuku Co. ltd acquired Vega, a prominent supplier of conveyors and other material handling equipment in the Indian market.
