PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498799
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498799
Electric Pallet Jack & Stacker Market size was valued at USD 4,415.2 Million in 2023, expanding at a CAGR of 7.00% from 2024 to 2032.
An electric pallet jack is a type of motorized device used to lift, move, and manage pallets in a warehouse or factory setting. An electric stacker is a pedestrian walk-behind forklift that is primarily used to stack pallets at different heights and transfer them over short distances. Both electric pallet jacks and stackers help to optimize logistics and storage operations. They provide a balance of agility, efficiency, and safety, making them indispensable tools in the current warehouse management system. Innovations in battery technology and material handling equipment design have significantly boosted the use of electric pallet jacks and stackers.
Electric Pallet Jack & Stacker Market- Market Dynamics
Increase in Warehouses and Logistics
Warehousing and logistics facilities have recently expanded as e-commerce platforms have grown in popularity. The demand for warehouses is steadily expanding as online delivery of goods becomes more popular. The desire for one-day delivery resulted in increased demand for warehouses, which contributed to the electric pallet jack and stacker business. Warehousing and pallets go hand in hand; they're directly proportionate. Warehouse forklifts are frequently in use due to increased demand for online deliveries. Because pallet stackers and pallet jacks are seen as an excellent alternative to forklifts, end-users are expected to invest in electric pallet jacks and stackers in order to meet delivery standards and meet consumers' desire for quick delivery.
Electric Pallet Jack & Stacker Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.00% over the forecast period (2024-2032)
Based on Type segmentation, the electric pallet jack category dominated the global electric pallet jack and stacker market in 2023.
Based on Load Capacity segmentation, the 2,000 - 5,000 lb load capacity segment is expected to grow at the quickest CAGR in the market.
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Electric Pallet Jack & Stacker Market is segmented on the basis of Type, Load Capacity, End-User, and Region.
The market is divided into two categories based on Type: Electric Pallet Jack & Stacker Market. The electric pallet jack category dominated the global electric pallet jack and stacker market in 2023. Electric pallet jacks are critical in carrying out the daily regular task of handling products, hence decreasing manual labor work. They are useful equipment because they improve production flow and reduce human mistakes. Electric pallet jacks are used in a wide range of industries, including warehouses and logistics, supermarkets and retail, food and beverage, and many more.
The market is divided into three categories based on Load Capacity: 2,000 - 5,000 lbs, Over 5,000 lbs, and Under 2,000 lbs. The 2,000 - 5,000 lb load capacity segment is predicted to develop at the fastest CAGR in the worldwide electric pallet jack and stacker market. These pallet jacks are commonly employed in industrial and heavy manufacturing situations, and they are designed to move and lift extremely big items. They are driven by electric motors and usually have a lifting capacity of 2,000 to 5,000 pounds. These heavy-duty electric pallet jacks provide the same advantages as smaller models, including enhanced speed, power, and efficiency, as well as reduced physical strain for the user.
Electric Pallet Jack & Stacker Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. APAC held the highest share of the worldwide electric pallet jack and stacker market in 2023, accounting for more than 41%. Manufacturing, building, power generation, and warehousing activities are boosting the regional market as industrial automation becomes more widely adopted. Urbanization and industrialization in rising nations such as India are increasing the demand for energy-efficient equipment, which is driving up demand for electric pallet jacks and stackers in the warehousing industry. Moreover, suppliers' investments and expansions into APAC's rising markets are critical tactics.
North America is the market's fastest-expanding region. The need for electric pallet jacks and stackers is increasing significantly in the Americas, driven by the thriving e-commerce industry and the need for more efficient warehouse operations. The United States dominates the market in this region, with high adoption rates in the logistics and retail sectors. Lithium-ion batteries are gaining popularity due to their longer lifespan and faster charge periods, which improve operating efficiency. Manufacturers are working on improving safety features and ergonomics in response to the strict safety rules in North American workplaces.
Key players in the electric pallet jack & stacker market such as ANHUI GS INDUSTRY CO., LTD., CLARK Europe GmbH, CUBLIFT, Doosan Corporation, and EdmoLift GmbH, among others, offers innovative and efficient electric pallet jacks and stackers. Key players focus on factors that could make a difference in the market, like load capacity, maneuverability, battery life, and safety features. Leading companies have differentiated themselves through advanced technology integration, ergonomics in design, customization, and after-sales support services. The buyer needs to understand this competitive scenario to assess the different offerings, features, and price comparisons and to take an informed decision for choosing the right electric pallet jacks and stackers for their operations.
In April 2023, Toyota Material Handling announced a novel electric Walkie stacker underneath the Tora-Max label, adding to the company's growing array of material handling products. The Tora-Max Walkie Stacker offers great versatility, ease of use, and load security.
GLOBAL ELECTRIC PALLET JACK & STACKER MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
ANHUI GS INDUSTRY CO., LTD.
CLARK Europe GmbH
CUBLIFT
Doosan Corporation
EdmoLift GmbH
Hangcha Group Co.
Hebei Baot Machinery Tech Co., Ltd
Hyster-Yale Group, Inc
Hyundai Construction Equipment
ICEM S.r.l.
JAC Heavy-Duty Construction Machine Co., Ltd
Jungheinrich AG
Kion Group AG
MiMA forklift
Mitsubishi Heavy Industries, Ltd.
Ningbo Ruyi Joint Stock Co., Ltd
Ningbo Staxx Material Handling Equipment Co.,Ltd.
Niuli Machinery Manufacture Co., Ltd.
Noblelift Intelligent Equipment Co.,Ltd.
Novodinamica S.L.U.
Ravas Europe BV
SAUR Panambi/RS
Shanghai Yiying Crane Machinery Co., Ltd.
STILL GmbH,
Toyota Industries Corporation.
Others