CHICAGO, April 4, 2023 /PRNewswire/ — According to Arizton’s latest research report, the electric pallet jack and stacker market will grow at a CAGR of 6.2% from 2023-2028.
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Electric Pallet Jack And Stacker Market
BROWSE IN-DEPTH TOC ON THE ELECTRIC PALLET JACK AND STACKER MARKET
100 – Tables
112 – Charts
289 – Pages
The global electric pallet jack & stacker market has grown with growing demand for scalable and integrated production and assembly lines from the end users. The end-users are demanding an electric pallet jack & stacker that can be used in several assembly lines and are easily scalable. This rise is seen in highly industrialized economies and developing countries as companies seek to avoid old technologies and embrace the latest trends. IoT and automation have smoothened the order processing from stocks in warehouses to improve the experiences of customers. Warehouse, logistics, retail, and manufacturing industries moved toward automated equipment instead of manual equipment. This is expected to drive the demand for electric pallet jacks & stackers.
ELECTRIC PALLET JACK AND STACKER MARKET REPORT SCOPE
|
Report Attributes |
Details |
|
Market Size (2028) |
USD 6.28 Billion |
|
Market Size (2022) |
USD 4.38 Billion |
|
CAGR (2022-2028) |
6.20 % |
|
Base Year |
2022 |
|
Forecast Year |
2023-2028 |
|
Market Segmentation |
Product, Type, Battery, Load Capacity, End-User, and Geography |
|
Geographical Analysis |
North America, Europe, APAC, Latin America, and Middle East & Africa |
|
Countries Covered |
China, Japan, India, South Korea, Australia, Germany, the UK, France, Italy, Spain, the US, |
|
Market Dynamics |
Increase in Warehouses & Logistics |
|
Largest Market |
APAC |
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The venture of li-ion batteries has reshaped the face of the electric pallet jack & stacker market. It has also contributed to the origin and extension of new product ranges in the battery-operated categories that can further signify the market. One of the most significant growth drivers in the electric pallet jack & stacker market over the last decade has been the introduction of Li-ion batteries. In recent years, Li-Ion batteries have become more cost-efficient as they play a significant role in the purchase & development strategy of manufacturers and buyers. In the future, the use of battery systems and technology will be a major factor influencing purchasing behavior of industries for electric pallet jacks & stackers.
KEY INSIGHTS
In the upcoming years, markets such as Latin America and APAC are anticipated to grow at the highest CAGR, mostly attributed to increased warehousing & logistics facilities and an increased focus on sustainability.
China is expected to grow at the highest CAGR during the forecast period due to industrial establishments, a growing economy, and increasing industrial expenditures.
Regarding end-users, the warehousing & logistics industry is expected to generate the highest demand for electric pallet jacks & stackers. It is anticipated to dominate the market during the forecast period further.
Operator-driven electric pallet jack & stacker accounts for the highest share of the global electric pallet jack & stacker market, owing to high efficiency, fewer chances of a collision, and easy navigating through the narrow aisles. Self-Driven electric pallet jacks & stackers are expected to exhibit the highest CAGR of 10.43% during the forecast period.
Lead-Acid batteries dominate the market by generating the highest revenue and holding the highest share of 57.70% in the electric pallet jack & stacker market. Lithium-ion batteries are likely to replace lead-acid batteries but not fully, as some vendors are still likely to prefer lead-acid batteries due to low cost. Lithium-ion batteries are expected to boost the market during the forecast period.
In 2022, electric walkie-pallet jacks & stackers dominated the market, holding a share of 67.88%. They will likely lose their share as electric ride-on pallet jacks & stackers are expected to eat some share of them during the forecast period. Ride-on electric pallet jack & stacker is likely to grow at a CAGR of 7.53% during the forecast period due to ease of navigation with the operator’s help.
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GEOGRAPHIC INSIGHTS
In 2022, APAC accounted for the highest share of the global electric pallet jack & stacker market. APAC accounted for 41.79% market share in revenue, mostly due to the leading manufacturing countries, such as China and Japan, rapidly boosting industrialization in India. APAC was led by China, Japan, India, and South Korea, significant markets for material handling equipment. APAC will likely account for 43.18% market share in revenue by 2028. India and China are expected to be the fastest-growing electric pallet jack & stacker markets, supported by a rapid shift towards eco-friendly material handling equipment. Moreover, several vendors’ investments and expansion in emerging countries in APAC are key strategies. Hence, as a result, the sales of electric pallet jacks & stackers in the region are expected to rise during the forecast period.
RECENT DEVELOPMENT
CLARK, a material handling company, launched an electric pallet jack. The jack is built and designed to transport up to 4,000 pounds. The product includes a lithium-ion battery, an ergonomic handle (access to all controls without using a hand), neutral braking system.
In 2022, the company floated two AC electric walkie-pallet jacks under Tora Max. These pallet jacks are best for warehousing, manufacturing, retail, beverage, and distribution industries. These jacks have ergonomic handles, LCD showing battery use, and fingertip controls.
In 2022, the company invested $161.58 million in Ulsan Factory to expand the production capacity and smoothen the manufacturing process of Ulsan Factory. This is the largest investment made by the company.
In 2022, the company launched a new series of pallet trucks. This series provides a simplified solution to all the partners globally.
KEY COMPANY PROFILES
TOYOTA MATERIAL HANDLING GROUP
Jungheinrich
Hyster-Yale Materials Handling
Crown Equipment Corporation
EP Equipment
Hangcha Forklift
Hyundai Construction Equipment
KION GROUP
Doosan Corporation
MITSUBISHI LOGISNEXT
OTHER PROMINENT VENDORS
CLARK
CUBLIFT
Taizhou Zhongcai Machinery
Ravas
Anhui Heli
Maini Materials Movement
PowerHandling
Noblelift Intelligent Equipment
Eoslift USA Corporation
Big Joe Handling Systems
Ningbo Staxx Material Handling Equipment
PUMA LIFT TRUCKS
Ekko Material Handling Equipment
APOLLOLIFT
Presto Lifts
Jost’s Engineering Company Limited
COMBILIFT
Patel Material Handling Equipment
MARKET SEGMENTATION
Product
Electric Pallet Jack
Electric Pallet Stacker
Electric Straddle Pallet Stacker
Electric Counterbalanced Pallet Stacker
Type
Operator Driven
Walkie
Ride-on
Self-Driven
Battery
Lead-Acid
Lithium-Ion
Load Capacity
Between 1000-2000 KG
Above 2000 KG
Below 1000 KG
End-User
Warehousing & Logistics
Food & Beverages (F&B)
Healthcare
Others
Geography
APAC
China
Japan
India
South Korea
Australia
Europe
Germany
The UK
France
Italy
Spain
North America
The US
Canada
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
Saudi Arabia
The UAE
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TABLE OF CONTENT
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY PRODUCT
4.3.2 MARKET SEGMENTATION BY ELECTRIC PALLET STACKER
4.3.3 MARKET SEGMENTATION BY TYPE
4.3.4 MARKET SEGMENTATION BY OPERATOR-DRIVEN TYPES
4.3.5 MARKET SEGMENTATION BY BATTERY
4.3.6 MARKET SEGMENTATION BY LOAD CAPACITY
4.3.7 MARKET SEGMENTATION BY END-USER
4.3.9 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS and CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
6.1 MARKET DEFINITION
6.2 REPORT OVERVIEW
6.3 RISK FACTORS IN MARKET
6.4 STATE OF GLOBAL ECONOMY
6.5 OPPORTUNITIES & CHALLENGE ANALYSIS
6.6 SEGMENT ANALYSIS
6.7 REGIONAL ANALYSIS
6.8 COMPETITIVE LANDSCAPE
6.8.1 RECENT DEVELOPMENTS IN THE MARKET-
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
8.1.1 MEGA TRENDS
8.1.2 SUPPLIERS & RAW MATERIAL SNAPSHOT
8.1.3 SWOT ANALYSIS
8.2 RISK FACTORS IN MARKET
8.3 MATERIAL HANDLING INDUSTRY
8.4 STATE OF THE GLOBAL ECONOMY
9 MARKET OPPORTUNITIES and TRENDS
9.1 INCREASE IN AUTOMATION & IOT EXPENDITURE
9.2 DEVELOPMENT IN LI-ION BATTERY
9.3 ADVENT OF AUTONOMOUS VEHICLES
10 MARKET GROWTH ENABLERS
10.1 INCREASE IN WAREHOUSES & LOGISTICS
10.2 INDUSTRY 4.0 & ECONOMIC GROWTH
10.3 SHIFTING TOWARD ENERGY-EFFICIENT HANDLING EQUIPMENT
11 MARKET RESTRAINTS
11.1 LOW LABOR COSTS IN DEVELOPING COUNTRIES
11.2 AVAILABILITY OF OTHER SUBSTITUTES
11.3 PRICE FLUCTUATION IN RAW MATERIALS
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.1.1 KEY INSIGHTS
12.1.2 DEMAND INSIGHTS
12.2 MARKET SIZE & FORECAST
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 THREAT OF RIVALRY
13 PRODUCT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 ELECTRIC PALLET JACK
13.3.1 MARKET SIZE & FORECAST
13.3.2 MARKET BY GEOGRAPHY
13.4 ELECTRIC PALLET STACKER
13.4.1 MARKET SIZE & FORECAST
13.4.2 MARKET BY GEOGRAPHY
13.4.3 ELECTRIC STRADDLE PALLET STACKER: MARKET SIZE & FORECAST
13.4.4 ELECTRIC COUNTERBALANCED PALLET STACKER: MARKET SIZE & FORECAST
14 TYPE
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 OPERATOR DRIVEN
14.3.1 MARKET SIZE & FORECAST
14.3.2 MARKET BY GEOGRAPHY
14.3.3 WALKIE: MARKET SIZE & FORECAST
14.3.4 RIDE-ON: MARKET SIZE & FORECAST
14.4 SELF-DRIVEN
14.4.1 MARKET SIZE & FORECAST
14.4.2 MARKET BY GEOGRAPHY
15 BATTERY
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 LEAD-ACID
15.3.1 MARKET SIZE & FORECAST
15.3.2 MARKET BY GEOGRAPHY
15.4 LITHIUM-ION
15.4.1 MARKET SIZE & FORECAST
15.4.2 MARKET BY GEOGRAPHY
16 LOAD CAPACITY
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 MARKET OVERVIEW
16.3 BETWEEN 1000-2000 KG
16.3.1 MARKET OVERVIEW
16.3.2 MARKET SIZE & FORECAST
16.3.3 MARKET BY GEOGRAPHY
16.4 ABOVE 2000 KG
16.4.1 MARKET OVERVIEW
16.4.2 MARKET SIZE & FORECAST
16.4.3 MARKET BY GEOGRAPHY
16.5 BELOW 1000 KG
16.5.1 MARKET OVERVIEW
16.5.2 MARKET SIZE & FORECAST
16.5.3 MARKET BY GEOGRAPHY
17 END-USERS
17.1 MARKET SNAPSHOT & GROWTH ENGINE
17.2 MARKET OVERVIEW
17.3 WAREHOUSING & LOGISTICS
17.3.1 MARKET SIZE & FORECAST
17.3.2 MARKET BY GEOGRAPHY
17.4 F&B
17.4.1 MARKET SIZE & FORECAST
17.4.2 MARKET BY GEOGRAPHY
17.5 HEALTHCARE
17.5.1 MARKET SIZE & FORECAST
17.5.2 MARKET BY GEOGRAPHY
17.6 OTHERS
17.6.1 MARKET SIZE & FORECAST
17.6.2 MARKET BY GEOGRAPHY
18 GEOGRAPHY
18.1 MARKET SNAPSHOT & GROWTH ENGINE
18.2 GEOGRAPHIC OVERVIEW
19 APAC
19.1 MARKET OVERVIEW
19.2 PRODUCT
19.2.1 MARKET SIZE & FORECAST
19.3 TYPE
19.3.1 MARKET SIZE & FORECAST
19.4 BATTERY
19.4.1 MARKET SIZE & FORECAST
19.5 LOAD CAPACITY
19.5.1 MARKET SIZE & FORECAST
19.6 END-USERS
19.6.1 MARKET SIZE & FORECAST
19.7 KEY COUNTRIES
19.7.1 CHINA: MARKET SIZE & FORECAST
19.7.2 JAPAN: MARKET SIZE & FORECAST
19.7.3 INDIA: MARKET SIZE & FORECAST
19.7.4 SOUTH KOREA: MARKET SIZE & FORECAST
19.7.5 AUSTRALIA: MARKET SIZE & FORECAST
20 EUROPE
20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.3 PRODUCT
20.3.1 MARKET SIZE & FORECAST
20.4 TYPE
20.4.1 MARKET SIZE & FORECAST
20.5 BATTERY
20.5.1 MARKET SIZE & FORECAST
20.6 LOAD CAPACITY
20.6.1 MARKET SIZE & FORECAST
20.7 END-USERS
20.7.1 MARKET SIZE & FORECAST
20.8 KEY COUNTRIES
20.8.1 GERMANY: MARKET SIZE & FORECAST
20.8.2 UK: MARKET SIZE & FORECAST
20.8.3 FRANCE: MARKET SIZE & FORECAST
20.8.4 ITALY: MARKET SIZE & FORECAST
20.8.5 SPAIN: MARKET SIZE & FORECAST
21 NORTH AMERICA
21.1 MARKET OVERVIEW
21.2 MARKET SIZE & FORECAST
21.3 PRODUCT
21.3.1 MARKET SIZE & FORECAST
21.4 TYPE
21.4.1 MARKET SIZE & FORECAST
21.5 BATTERY
21.5.1 MARKET SIZE & FORECAST
21.6 LOAD CAPACITY
21.6.1 MARKET SIZE & FORECAST
21.7 END-USERS
21.7.1 MARKET SIZE & FORECAST
21.8 KEY COUNTRIES
21.8.1 US: MARKET SIZE & FORECAST
21.8.2 CANADA: MARKET SIZE & FORECAST
22 LATIN AMERICA
22.1 MARKET OVERVIEW
22.2 MARKET SIZE & FORECAST
22.3 PRODUCT
22.3.1 MARKET SIZE & FORECAST
22.4 TYPE
22.4.1 MARKET SIZE & FORECAST
22.5 BATTERY
22.5.1 MARKET SIZE & FORECAST
22.6 LOAD CAPACITY
22.6.1 MARKET SIZE & FORECAST
22.7 END-USERS
22.7.1 MARKET SIZE & FORECAST
22.8 KEY COUNTRIES
22.8.1 BRAZIL: MARKET SIZE & FORECAST
22.8.2 MEXICO: MARKET SIZE & FORECAST
23 MIDDLE EAST & AFRICA
23.1 MARKET OVERVIEW
23.2 MARKET SIZE & FORECAST
23.3 PRODUCT
23.3.1 MARKET SIZE & FORECAST
23.4 TYPE
23.4.1 MARKET SIZE & FORECAST
23.5 BATTERY
23.5.1 MARKET SIZE & FORECAST
23.6 LOAD CAPACITY
23.6.1 MARKET SIZE & FORECAST
23.7 END-USERS
23.7.1 MARKET SIZE & FORECAST
23.8 KEY COUNTRIES
23.8.1 SOUTH AFRICA: MARKET SIZE & FORECAST
23.8.2 SAUDI ARABIA: MARKET SIZE & FORECAST
23.8.3 UAE: MARKET SIZE & FORECAST
24 COMPETITIVE LANDSCAPE
24.1 COMPETITION OVERVIEW
24.1.1 RECENT DEVELOPMENTS IN THE MARKET-
25 KEY COMPANY PROFILES
25.1 TOYOTA MATERIAL HANDLING GROUP
25.1.1 BUSINESS OVERVIEW
25.1.2 PRODUCT OFFERINGS
25.1.3 KEY STRATEGIES
25.1.4 KEY STRENGTHS
25.1.5 KEY OPPORTUNITIES
25.2 JUNGHEINRICH
25.3 HYSTER- YALE MATERIALS HANDLING
25.4 CROWN EQUIPMENT CORPORATION
25.5 EP EQUIPMENT
25.6 HANGCHA FORKLIFT
25.7 HYUNDAI CONSTRUCTION EQUIPMENT
25.8 KION GROUP
25.9 DOOSAN CORPORATION
25.10 MITSUBISHI LOGISNEXT
26 OTHER PROMINENT VENDORS
26.1 CLARK
26.1.1 OVERVIEW
26.1.2 PRODUCT OFFERINGS
26.2 CUBLIFT
26.3 TAIZHOU ZHONGCAI MACHINERY
26.4 RAVAS
26.5 ANHUI HELI
26.6 MAINI MATERIALS MOVEMENT
26.7 POWER HANDLING
26.8 NOBLELIFT INTELLIGENT EQUIPMENT
26.9 EOSLIFT USA CORPORATION
26.10 BIG JOE HANDLING SYSTEMS
26.11 NINGBO STAXX MATERIAL HANDLING EQUIPMENT
26.12 PUMA LIFT TRUCKS
26.13 EKKO MATERIAL HANDLING EQUIPMENT
26.14 APOLLOLIFT
26.15 PRESTO LIFTS
26.16 JOST’S ENGINEERING COMPANY LIMITED
26.17 COMBILIFT
26.18 PATEL MATERIAL HANDLING EQUIPMENT
27 REPORT SUMMARY
27.1 KEY TAKEAWAYS
27.2 STRATEGIC RECOMMENDATIONS
28 QUANTITATIVE SUMMARY
28.1 MARKET BY GEOGRAPHY
28.2 MARKET BY PRODUCT
28.3 MARKET BY TYPE
28.4 MARKET BY BATTERY
28.5 MARKET BY LOAD CAPACITY
28.6 MARKET BY END-USERS
29 APAC
29.1 PRODUCT
29.1.1 MARKET SIZE & FORECAST
29.2 TYPE
29.2.1 MARKET SIZE & FORECAST
29.3 BATTERY
29.3.1 MARKET SIZE & FORECAST
29.4 LOAD CAPACITY
29.4.1 MARKET SIZE & FORECAST
29.5 END-USERS
29.5.1 MARKET SIZE & FORECAST
30 EUROPE
30.1 PRODUCT
30.1.1 MARKET SIZE & FORECAST
30.2 TYPE
30.2.1 MARKET SIZE & FORECAST
30.3 BATTERY
30.3.1 MARKET SIZE & FORECAST
30.4 LOAD CAPACITY
30.4.1 MARKET SIZE & FORECAST
30.5 END-USERS
30.5.1 MARKET SIZE & FORECAST
31 NORTH AMERICA
31.1 PRODUCT
31.1.1 MARKET SIZE & FORECAST
31.2 TYPE
31.2.1 MARKET SIZE & FORECAST
31.3 BATTERY
31.3.1 MARKET SIZE & FORECAST
31.4 LOAD CAPACITY
31.4.1 MARKET SIZE & FORECAST
31.5 END-USERS
31.5.1 MARKET SIZE & FORECAST
32 LATIN AMERICA
32.1 PRODUCT
32.1.1 MARKET SIZE & FORECAST
32.2 TYPE
32.2.1 MARKET SIZE & FORECAST
32.3 BATTERY
32.3.1 MARKET SIZE & FORECAST
32.4 LOAD CAPACITY
32.4.1 MARKET SIZE & FORECAST
32.5 END-USERS
32.5.1 MARKET SIZE & FORECAST
33 MIDDLE EAST & AFRICA
33.1 PRODUCT
33.1.1 MARKET SIZE & FORECAST
33.2 TYPE
33.2.1 MARKET SIZE & FORECAST
33.3 BATTERY
33.3.1 MARKET SIZE & FORECAST
33.4 LOAD CAPACITY
33.4.1 MARKET SIZE & FORECAST
33.5 END-USERS
33.5.1 MARKET SIZE & FORECAST
34 APPENDIX
34.1 ABBREVIATIONS
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