Mainly used for handling intermodal cargo containers, reach stacker is gaining increasing demand in small terminals as well as medium-sized ports. Reach stacker had suffered certain impact of slowdown in world economic growth but continued to maintain a relatively optimistic growth. Owing to their flexibility along with higher stacking and storage capacity that other forklift trucks, reach stacker market is likely to earn high traction in the coming years. Rapid development in ports sector coupled with large number of new installations in the Asia Pacific region is expected to fuel growth of the reach stacker market.
Growing port investments in upgrade and maintenance of old installations, especially in developed nations of Europe and North America is a key factor favoring the development of reach stacker market. Further, significant portion of the demand for reach stacker is anticipated to be driven by the emergence of new automated and advanced equipment that meet stringent environmental and safety regulations. Increasing government initiatives toward improving efficiencies and updating inland port systems will possibly contribute notable growth to the reach stacker market. Adoption of reach stacker in warehouses and factories backed by industrial expansion in several countries may create lucrative growth opportunities for its market.
Container Industry – A Bellwether of Global Trade to Mark the Growth of the Reach Stacker Market
The global trade industry, which has been in doldrums during the economic crisis, is experiencing improvements in demand for shipping services. Economic development activities such as the Economic Partnership Agreement between the European Union and Japan, and the European Union–Canada Comprehensive Economic and Trade Agreement are supporting trade flows. Reach stackers are modern container handling equipment used for handling cargo containers and for ship-to-shore transportation in medium-sized ports. As a result of positive developments in the global trade, the container industry is likely to flourish in the upcoming years. It may open a window of opportunities for manufacturers and distributors in the reach stacker market in the foreseeable future.
The United Nations Conference on Trade and Development (UNCTAD) states that world seaborne trade volumes increased by over 2.5% up to 10.6 billion ton by 2017-end. In addition, containerized trade also witnessed growth by around 4.5% in volume, depending on which the UNCTAD forecasts that world seaborne trade volume will increase by more than 3% by 2022-end. This is directly resulting in most ports investing in advanced container handling equipment such as reach stacker and the ultimate growth of the reach stacker market.
Rising Port Investments Encourage Market Players to Develop Reach Stackers With Advanced Features
An upsurge in global seaborne trade volume and evolution of containerized shipping is leading to develop infrastructure and improving ship-to-shore transportation equipment procurement. The European Union has included dedicated funds such as European Regional Development Fund (ERDF), the Cohesion Fund (CF), and the Connecting Europe Facility (CEF) to its budget to promote port investments. Attributing to the increasing port investments in infrastructure as well as container handling equipment, leading manufacturers are in the reach stacker market are developing reach stackers with innovative features.
TIL and Hyster are leading manufacturing companies in the container handling equipment market. Both the companies collaborated to manufacture reach stackers with highly innovative features such as twist lock indicator lights, excellent visibility, fast lifting, higher capacities, engine and transmission protection system, and tropical cooling package. TCM (Toyo Carriers Manufacturing), a Japanese manufacturing company in the reach stacker market, develops reach stackers with total safety load system (TSLS) and total safety interlock system. It improves the productivity and safety of operating reach stackers. Apart from hydraulic sliding cabin, TCM reach stackers are combined with an additional monitor system to provide outstanding rearward visibility to the operator.
Leading Players in the Reach Tracker Market to Incorporate Advanced Technologies to Gain Momentum
With the increasing competition in the reach tracker market, the trend of product innovation is becoming highly popular among market players. Leading manufacturing companies are using next-generation technologies to develop highly innovative and technological advanced reach stackers. It may help market players to differentiate their reach stackers with unique features from those commonly available in the reach stacker market. Sany Global, a Chinese multinational manufacturing company, invests heavily in its research and development (R&D) department to develop technological features such as advanced fault detection system and test detection system. The company also used inching control technology to combine a multi-function control joystick and an electro-hydraulic control curve to provide an outstanding control over the operation of reach stackers.
Cargotec Oyj is a Finnish manufacturer of cargo handling machinery for ports, terminals, and ships, and a global leader in the reach stacker market. Kalmar Global, a leading manufacturer of cargo handling equipment and a part of Cargotec, introduced its K-Motion solution, which is a drive train system embedded into the computerized program of its Gloria reach stackers. The company states that the Kalmar K-Motion solution elevated the uptime of reach stackers that improves their productivity and efficiency, ultimately resulting in the reduction of fuel consumption and running costs. The company employed cutting-edge technological advancements to integrate reach stackers with smarter programs and intelligent controls, as well as to reduce the fuel consumption by up to 40%. Cargotec is also adopting advanced technological solutions to develop intelligent cargo handling equipment to attract more investors from around the globe
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